Word: adolfo
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Maserati is an industrial concern of Modena, Italy, which has established an outstanding reputation as a manufacturer of precision tools and automobiles. Your statements that Maserati President Adolfo Orsi owed Credito Italiano, an Italian bank, $15,600, that he wrote a check with no funds to cover it and that the bank asked that he be declared bankrupt are untrue. So is your statement that Credito Italiano "sent the shamed Orsis into hiding"; we have been for many years and still are openly and actively engaged in the management of Maserati. No bankruptcy petition was ever instituted against Maserati...
Spinning around the great circuits of the world, one whining, bright red racer topped them all last year: Italy's Maserati, the car that whisked Juan Manuel Fangio to a world championship and many another driver to fame in the last 30 years. To Maserati's makers, Adolfo Orsi and his son Omar, the fame was expected to pave the way for quantity production of a new richly appointed sports-touring car rivaling Mercedes-Benz and Ferrari. When tighter new rules outmoded their biggest racers last fall, the Orsis were ready to quit racing and plunge completely into...
Last week Maserati skidded off the track. The government-owned bank Credito Italiano asked that Adolfo Orsi be declared bankrupt, impounded Maserati's assets, sent the shamed Orsis into hiding. Adolfo owed the bank $15,600 and had written a check with no funds to cover it. But that was only part of the reason. For the Orsis, the bright fame of Maserati had been gradually turned by many fine Latin hands from a blessing into a curse...
...Adolfo bought the Alfieri Maserati firm, then financially foundering, as an addition to his scrap-iron and farm-implement businesses, later used the plant as the base of a new machine-tool business. Racing cars were only the frosting on the cake to give the tools a famous name. By last year the combination was bringing in $3,000,000 annually. But along with the cash came trouble...
Argentine Dictator Juan Peron, a racing bug and sponsor of Driver Fangio, got so enthusiastic about Maserati racers in 1954 that he handed Adolfo Orsi a $3,000,000 machine-tool order to help speed Argentine industrialization. In turn, Adolfo enthusiastically allowed Peron three years to pay. A year later, when Peron was ousted, Argentina had paid only a fraction of its bill, all in wheat to the Italian government, which has yet to convert it into cash for Maserati. To top it off, Adolfo took on another $437,500 machine-tool order from the Spanish government-which has also...