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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 1, 1974, Lethbridge, Alberta May 1974 THE LETHBRIDQE HERALD Information Canada role unclear Home at last American oilman Victor Samuelson in dark suit is grim faced as he walks out of U.S. Customs area at Miami International Airport. Kidnapped and held for six weeks by Argentine Samuelson was freed after a record million ransom was paid. Man at left is an unidentified oil company official. Virtues and drawbacks of corporations aired OTTAWA An Italian banker and politician suggested Tuesday that some of the at least partially unjustified concern about multinational corporations should be switched to newly- rich Arab oil producers Giovanni former cabinet minister and leader of the Italian Liberal said the concern should be turned to the fact that some activities of large international oil com- panies are being taken over by 'a handful of unstable and un- democratic Delivering one of the two major lectures at a meeting of world liberals Mr. Mala- godi generally played down many concerns about multina- expressing more con- cern over the power possessed by state-owned industries. In the other Repre- sentative Donald M. Fraser of among other things national chairman for Americans for Democratic said there is a crying need for a code of conduct for multinationals. But he concern for protecting the sovereignty of nations should not be such as it will lead to the destruction of the multinationals which help the goal of a totally inter- dependent world economy. The two speeches at the sec- ond day of a week-long Liberal International Colloquium drew mixed reactions. VIEWS Two Latin a Dane and a Swede said multinationals have considerable espe- cially in the developing coun- tries. John Roberts of said a code of conduct is not enough and that multinational power must be diminished Dr Malagodi said problems created by Libyan strongman Moammar Kaddafi and King Ibn Saud of Saudi Arabia should be of concern for all. He noted surplus funds of oil exporters already is billion this year and he wondered what the political repercussions will be of the huge investments these countries will be making in others in the next decade. He said it was not proved that multinationals were harmful to the economies of host in a number of especially the transfer of technological they were beneficial. Mr. Fraser said governments have been late in identifying common interests keeping operations of multinationals responsive to national and international goals. SAYS RULES NEEDED He said regulation is needed because multinationals under- mine the sovereignty of coun- because they tend to de- ter the operation of a free market because their unbridled profjt motive must be redirected toward a greater contribution toward the satisfaction of human need. There were numerous studies on regulations but the Multinats powerful OTTAWA An in- dication of the power of mul- tinational corporations was given yesterday in two speeches at the Liberal Inter- national meeting here. Giovanni Malagodi of Italy and Congressman Donald M. Fraser of Minneapolis men- among other things that these enormous inter- national corporations do billion in sales each year. That is nearly one-sixth of the total world economic out- Mr. Fraser said. Drawing from various sources of the speakers have a growth rate that is twice that of the world gross national product and 50 per cent greater than the increase in world trade. predict that 300 multinationals will own 75 per cent of the world manufac- turing assets. have liquid assets estimated to be billion by the U.S. tariff commission and billion by the First National City the official reserves of any country. of the largest U.S. multinationals account for about half of total U.S. ex- ports and a third of total sales of manufactured goods. There are U.S. subsidiaries compared with 15 years ago. sales with 51 of the world's rich- est entities are multinational not countries. gross annual sales of General Motors exceed the GNP of South Af- rica and Norway and all de- veloping countries. of the 10 largest multinationals earns annual revenues greater than the GNP of two-thirds of the countries of the world. American mul- tinationals made higher prof- its abroad than at home. Earnings from foreign oper- ations of all U.S. multination- als amounted to about 25 per cent all U.S. corporate profits after taxes. proper forum for finding a worldwide solution was the United Nations Mr. Fraser said for all their excesses of unrestrained give a glimpse of a world where international economic exchange is not limited by conditions set out by single countries. place a great hope in the creation of international sys- tems capable of improving life on this planet by transcending national rivalries. such systems obviously must be accountable to a body more representative of the people of the world than the board of directors of large cor- Mr. a former MP and now a business said a code of conduct would simply make the power of multinationals more acceptable These growing powers must be diminished. Government must have con- trol over the entire economy. Yet recent tax reform attempts by Canada showed how difficult it was to tax corporations owned outside Canadian borders. Canada Island dedicated at Spokane Wash. Canadian and American officials Tuesday dedicated Canada Island in the Spokane River as a memorial to friendship between the two countries Canadian Consul General Ray Anderson has made us neighbors and history has made us Spokane Mayor David H. Rodgers presented Anderson with a document in which the city council officially renamed the formerly known as Cannon Island. The island will be the site of Canada's entries in Expo '74. c Canada made a park out of the entire while British Columbia built a pavilion and Alberta built an amphitheatre. STILL IN ORBIT COLORADO Colo. The Skylab space abandoned by United States astronauts Feb. is continuing in a stable orbit and has a life expectancy of more than five the North American Air Defence Command said Monday. OTTAWA A Senate committee says role of In- formation Canada should be more clearly defined so the agency can do a better job regulating and co-ordinating government information pro- grams. say that Information Canada's status in the govern- ment panoply of departments and agencies is unclear would not overstate the says the Senate finance committee. The committee undertook a study of the agency last year as part of an examination of its spending estimates. In the report released Tues- the committee found that many of Information Canada's initial problems were due to the of its establishing authority and the difficulties inherent in operating under clear terms of no organization and in particular no governmental organization can avoid straying into areas of activity where it does not The headed by Senator Douglas Everett recommends that Information Canada not become a central information agency. it is clearly seen to be a coordinating and assisting rather than a supplanting or absorbing the over-all information program of the federal government could be carried out with greater efficiency and Since Information Canada was established in grew out of a report by a special commission on government information services has been subjected to considerable criticism. This latest report refers to about the organization. the committee says much of this is due to the vague guidelines under which Information Canada operates. What the committee suggests is that the role be defined through an act of and that the secretary of state be given ministerial responsibility for all government information services. The agency would regulate and co-ordinate all information and while it could not avoid initiating information pro- grams on its should keep this activity to a min- imum.'1 The committee estimates that federal government information services now cost about million a year. It suggests that Information Canada screen the information budgets of all de- partments. The committee agrees with the agency's plans to establish 11 enquiry centres across Can- ada because this is of the most successful functions un- dertaken by Information Can- ada. The service should be improved by offering all Cana- dians free telephone access to the service best summer suit value. And for the next 4 days Forget summer suits as you've known them. 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