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It also described the voyage of the United Fruit Company's steamer, and Blaney's descriptions and encounters of his travels. [6] In 1901, the government of Guatemala hired the United Fruit Company to manage the country's postal service, and in 1913 the United Fruit Company created the Tropical Radio and Telegraph Company. By 1930, it had ...
In 1913, Zemurray bought back the portion of his company owned by United Fruit, a transaction that was made possible by increasing anti-trust pressure on United Fruit from the United States government. [2] Fully in control of the company, he expanded by buying 20 ships by 1915 that were outfitted with refrigerated holds.
The coup d'état was a consequence of the Dávila government's having slighted the Cuyamel Fruit Company by colluding with the rival United Fruit Company to award them a monopoly contract for the Honduran banana, in exchange for the UFC's brokering of U.S. government loans to Honduras. [12] [15]
The United Fruit Company was formed on March 30, 1899, the result of a merger between the nearly bankrupt Tropical Trading and Transport Company and Boston Fruit. On its formation, United Fruit
The United Fruit Company and Zemurray left a lasting legacy on Latin America by using political influence as a business in order to achieve the business interests. In Honduras, the United Fruit Company actively supported another regime and with the help of the insurgents staged a coup in 1911.
In May 1952, Árbenz enacted Decree 900, the official title of the Guatemalan agrarian reform law. [24] Approximately 500,000 people benefited from the decree. [25] The United Fruit Company lost several hundred thousand acres of its uncultivated land to this law, and the compensation it received was based on the undervalued price it had presented to the Guatemalan government for tax purposes. [17]
The former headquarters of the United Fruit Company, in New Orleans. The company played a key role in instigating the 1954 coup d'état. By 1950, the United Fruit Company's (now Chiquita) annual profits were 65 million U.S. dollars, [b] twice as large as the revenue of the government of Guatemala. [54]
The United Fruit Company responded with intensive lobbying of members of the United States government, leading many US congressmen and senators to criticize the Guatemalan government for not protecting the interests of the company. [65] The Guatemalan government responded by saying that the company was the main obstacle to progress in the country.