Globalized Fruit, Local Entrepreneurs

Globalized Fruit, Local Entrepreneurs
Автор книги: id книги: 1601293     Оценка: 0.0     Голосов: 0     Отзывы, комментарии: 0 5011,57 руб.     (57,08$) Читать книгу Купить и скачать книгу Купить бумажную книгу Электронная книга Жанр: Экономика Правообладатель и/или издательство: Ingram Дата добавления в каталог КнигаЛит: ISBN: 9780812292701 Скачать фрагмент в формате   fb2   fb2.zip Возрастное ограничение: 0+ Оглавление Отрывок из книги

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Bananas are the fifth most widely traded farm product. While the results of monopolization in the banana business, such as environmental contamination and the exploitation of labor, are frequently criticized, Globalized Fruit, Local Entrepreneurs demonstrates that the industry is not globally uniform, nor uniformly rotten. Douglas Southgate and Lois Roberts challenge the perception that multinational corporations face no significant competitors in the banana business and argue that Ecuador and Colombia are important sources of competition. Focusing on Ecuador, the world's leading exporter of bananas since the early 1950s, Globalized Fruit, Local Entrepreneurs highlights the factors that led to the development of independent fruit industries, including environmental conditions, governmental policies, and, most significantly, entrepreneurship on the part of local growers and exporters. Although multinational firms headquartered in the United States have been active in the country, Ecuador has never been a banana republic, dominated economically and politically by a foreign corporation. Instead, Southgate and Roberts show that a competitive market for tropical fruit exists in and around Guayaquil, a port city dedicated to international commerce for centuries. Moreover, that market has consistently rewarded productive entrepreneurship. Drawing on interviews and archival research, Southgate and Roberts investigate leading exporters' and growers' origins, which are more humble than privileged, as well as their paths to success in the banana business. Globalized Fruit, Local Entrepreneurs shows that international marketing by Guayaquil-based merchants has been aggressive and innovative. As a result, Ecuador's tropical fruit sector has expanded more than it would have done had multinational corporate dominance never been challenged.

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Douglas Southgate. Globalized Fruit, Local Entrepreneurs

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Globalized Fruit, Local Entrepreneurs

How One Banana-Exporting Country Achieved Worldwide Reach

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Final resolution of the dispute had to wait until 1929, when the Boston Brahmins who had assumed control of United Fruit after the departure of Baker, Keith, and Preston decided to deal once and for all with the company’s pesky rival. A merger was proposed, which Zemurray accepted on being offered 300,000 shares of United Fruit stock.36 The buy-out made him the firm’s leading investor, which distressed him enormously as the value of his holdings shrank. Worth $31,500,000 (or $105 per share) when the merger was effected, in early 1930, Zemurray’s stake in United Fruit had lost more than 90 percent of its value by December 1932, when shares in the company were being bought and sold for $10.25. The stock collapse was in large measure the result of poor corporate administration, not simply a consequence of the Great Depression.

In January 1933, Sam the Banana Man traveled to Boston for one of the most storied confrontations in the annals of U.S. business. According to Mc-Cann, “Zemurray presented an incisive review of the company’s mismanagement.” The patrician chairman of the board responded by smiling thinly and drawing attention to his stockholder’s accent: “Unfortunately, Mr. Zemurray, I can’t understand a word you say.” The former immigrant stepped out of the room, but only to return a few moments later clutching the majority share of proxies he had collected beforehand. “You gentlemen have been f---ing up this business long enough,” Zemurray informed the board slowly and precisely. “I’m going to straighten it out.”37

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