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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 company was the largest landowner in Guatemala, [ 55 ] and virtually owned Puerto Barrios , Guatemala's only port to the Atlantic , allowing it to profit from the flow of ...
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 absorbed more than 20 rival firms, acquiring a capital of $215 million and becoming the largest employer in Central America.
In addition to the lobbying of the United Fruit Company, several other factors also led the United States to launch the coup that toppled Árbenz in 1954. During the years of the Guatemalan Revolution, military coups occurred in several other Central American countries that brought firmly anti-communist governments to power.
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
In 1953, the U.S. State Department and United Fruit embarked on a major public relations campaign to convince the American people and the rest of the U.S. government that Colonel Jacobo Arbenz intended to make Guatemala a Soviet "satellite".
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]
United Fruit used emotionally charged advertising campaigns to gain support, like "The Great White Fleet," a cruise liner that took American tourists to nations in Central and South America that United Fruit had invested in. Positive corporate image was fostered by commercials, which presented these destinations as exotic, fun excursions.
Ubico considered Guatemala to be the closest ally of the United States in Central America. Adopting a pro-USA stance to promote economic development and recovery from depression, Ubico permitted the United Fruit Company to become the most important company in Guatemala. It received import duty and real estate tax exemptions from the government ...