Word: banca
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Dates: during 1950-1959
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...called themselves Liberals. But in 1952, when Malagodi joined the party, it was, says one of its members, "in the seventh day of pneumonia." Thanks to his family's longtime prominence in Liberal politics and his own sharp intelligence-he was general manager of Milan's giant Banca Commerciale Italiana at 29-stocky Giovanni Malagodi rose to secretary-general of the party within two years. Ignoring the siren calls from left and far right, Malagodi and his colleagues hammered out a Liberal platform that, almost alone in Italian politics, opposes both private and state monopoly, and favors free...
...nurseries for its workers' use. Five other big firms have traveled south in the past year. The results are striking. In 1954 electricity consumption in the Italian south was up by 43.5%, radio sales by 15.5%, car sales by 42.6%, tractors by 35.6%. Said Italy's Banca Commerciale in its annual report: "For the first time since the unification of Italy, statistics for the South of Italy pull up the averages instead of pushing them down...
...hwan of Korea." Few of these odd currencies cross Ryus' desk directly, since normally TIME International subscription orders, paid for in local currencies, are cleared through branches of world banks, such as New York's National City, Holland's Amster-damsche Bank, Italy's Banca Commerciale. There the money is converted and credited to TIME'S U.S. dollar account. "It's all pretty routine," says Ryus, "except when we get a barrelful of 'pazooties.' " "Pazooties" are what the International staffers call any currency that fluctuates wildly in value or that cannot...
...Corp., replacing James F. Cavagnaro, 69, who retired. Apparently because new Chairman Belgrano was given executive powers equal to his own, Transamerica President Sam H. Husbands, 62, promptly resigned his $75,000-a-year job in a huff. Belgrano, the son of the president of San Francisco's Banca Popolare Fugazi (one of the foundations of A. P. Giannini's Bank of America empire), was a $35-a-week messenger for the Bank of California in 1916, served as a 2nd lieutenant in World War I, then joined his father's bank as assistant cashier. Climbing...