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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 19, 1974, Lethbridge, Alberta Tuesday, November 19, 1974 THE LETHBRIDGE HERALD 23 Fondly known for business failures, successes Venezuelans interested in Rockefeller nomination New York Times Service CARACAS Nowhere has the controversy over the nomination of former Gov. Nelson A Rockefeller as vice president of the United States drawn such wide interest as in Venezuela because no country bears his personal economic stamp as does this south American land of 11 million people. Ironcially, the Nelson Rockefeller many Venezuelans speak of fondly here is far better known for his three decades of quixotic business failures and successes than for his political career or his family's vast oil and banking interests To Venezuelans the former Governor of New York was the American who failed first as a philanthropist and subse- quently as a farmer, rancher, fish merchant, wholesale grocer and investor in many less publicized but equally un- rewarding ventures And he is also well known in Venezuela as a successful innkeeper, the biggest dairyman, and as 'a super- market chain operator. And, of course, for his family's interest in a petroleum com- pany that pumps half this country's three million barrels of oil each day and which still has important banking interests here Now that Venezuela, which supplies most of North America's oil imports, is preparing to nationalize the foreign oil companies and force foreign investors "to sell majority interests in their businesses to Venezuelans, the Rockefeller ventures here are increasingly being referred to in the past tense As it is, the Venezuelan government controls most of the foreign oil companies financially, including the once powerful Creole Petroleum Company, an affiliate of Exx- on, which the Rockefeller family created a half-century ago And all foreign banks must now have at least a 75 per cent local interest in their in- stitutions here. The other interests associated with Rockefeller personally have been placed under the control of the International Basic Economy Corporation of New York That publicly held company is involved in a multitude of ventures around the world In Venezuela, I.B.E.C.'s chief holdings are the 60-umt Cada Supermarket chain, which includes a large baking company and wholesale grocery business, and the Carabobo Dairy Company, the largest in this country. Presently, I.B.E.C. owns half the stock in Cada and Carabobo Dairy, but must reduce its holdings to 20 per cent in each company within three years to comply with new Venezuelan laws. Given the present political and economic climate under which foreign companies operate here, I.B.E.C. of- ficials are loathe to discuss their income and revenues publicly, referring that such figures come from head- quarters in New York. Independent business observers here point out that traditionally only foreign petroleum companies make their earnings public. However, the Rockefeller interests here have rarely been reluctant to speak about their failures and successes in non petroleum and banking ventures here. Probably the most knowledgeable source on these matters is William F Coles Rockefeller's oldest associate and representative in Venezuela. "I was a classmate of Rocky's at Coles said in an interview here the other day. "I graduated a year ahead of him in '29. But I didn't get involved with it un- til '37 or '38 and have lived here since 1940 Coles recalled that his knowledge of Spanish, which he learned as a child in his native El Paso, Tex., impress- ed Rockefeller, who speaks the language fluently himself "I was working in a Boston law Coles said "Times were tough and Rocky called to say he wanted to do something for Venezuela and asked me to come down with him. He also asked some other former classmates to join us." Aside from the poverty and general backwardness of the country, which then produced barrels of oil a day at depressed prices. Rockefeller also was surprised that Venezuela did not even have a satisfactory hotel "That was our first pro- Coles said Wallace K. Harrison who later worked on the New York World's Fair and the Lincoln Centre Theatre complex there, was hired to design the Hotel Avila "Despite all the fancy hotels built here since then, the Avila is still the most beautiful in the Caribbean and became the model for resort hotels in the entire area." Coles aid The hotel passed under total Venezuela control in 1956 and was subsequently bought by the government to prevent it from being bought out and demolished by real estate operators who wanted the site YAMAHA ORGANS New and Used I COLLEGE MALL' Phone 328-3694 Protested REGINA (CP) The Saskatchewan Federation of Labor has protested a Prince Albert company's plan to br- ing in 50 Spanish immigrants to work in northern Saskatchewan. The federation's executive secretary, Larry Brown, said in a letter to federal Immigra- tion Minister Robert Andras that there are more than 000 unemployed persons in Saskatchewan and the impor- tation of workers will benefit no one but the company in- volved, Woodlands Enterprises Ltd. Sentenced to death Vincent John Cocknell, 19, of Powell River, B.C. (left) and John Harvey Miller, 29, of Fort Langley, B.C., were sentenced to death in New Westmin- ster, B.C. for killing an RCMP constable. This picture was taken earlier in the trial proceedings which ended Friday. Sears Freedom From scrap ng, pre-rinsing! Even 6 pus baked-on food comes off in our n-button Kenmore dishwasher Hygienic Sani-rinse keeps you out of hot water too. CAREERS REQUIRED LICENSED OPTHALMIC DISPENSER as manager for Edmonton Office of Western Can- ada's leading optical dispensing firm: TOP SALARY LEVEL, plus: commissions on sales profit sharing on percentage basis pension, disability and medical plans dental plan 3 weeks annual vacation Contact Lens Certificate beneficial, but not necessary. Send application to: Fort Optical Management Ltd. No. 41 553 Granville Street Vancouver, B.C. V6C 1X6 349 4 days only 98 Powerful hot water jets from bottom rack scrub dishes, pots and pans really clean Even dried, baked-on food1 And the dishes on top get as clean as those on the bottom. Because every cup and glass is gently washed inside and out by a field of upper jets The 6 push button choices include an extra-hot Sam-rinse that gets your dishes hygienically clean Stainless steel pulvenzer eliminates all pre-nnsmg Lighted dial with water temperature indicator. Dual detergent dispenser. Rinse agent injector. Silverware basket Fan-forced air for even, thorough drying Solid Maple cuttinq-board worktop White 266 272 061 Built-in model as above. 266 272 140. In Coppertone, Avocado or Harvest Gold more PROGRESSIVE CANADIAN Dance Company Requires... Dance Instructors For positions in rural areas of Southern Alberta. Must have Tap and Ballet training and enjoy working with children. Approximately 125 stu- dents. ReplytoBox19 Lethbridge Herald this is Sears best value Available from coast to coast in Canada through all Simpsons Sears stores, this very special offer is the sincerest effort Simpsons-Sears can make to bnng you merchandise that combines fine quality with the lowest possible price LOOKING FOR AN EXCITING CAREER? CONSIDER A CAREER WITH TREASURY RRANCHES OF ALBERTA We offer you: A comprehensive training programme combining classroom instruction with on-the-job training leading through Branch Administration to Management. Advancement limited only by your ability and desire to succeed Fully competitive salary and benefits programme Our present commencement salary is per month. Desired Qualifications: High School graduates, preferably with some work ex- perience; however, this is not essential. An interest m people and a desire to be involved m a financial organization whose business has doubled m the last two years If you are interested in such an opportunity and feel that you have the necessary qualifications, contact the Manager of your nearest Treasury Branch or write to Mr. Terry Semeniuk, Officer Office of the Superintendent Treasury Branches of Alberta P.O. Box 1440 Edmonton, Alberts. T5J 2N6___________ Simpsons-Sears Ltd. Enjoy rt now1 Use your AH Purpose Account At Simpsons-Sears you get Ine finest guarantee Satisfaction or money refunded. Store Hours: Open Daily a.m. to p.m. Thursday and Friday a.m. to p.m. Centre Village Mall. Telephone 328-9231 ;