Word: cazzaniga
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...Archie L. Monroe told the Senators that during the eight-year period, his company approved contributions totaling $27 million by Esso Italiana, mainly to Italian political parties. Monroe said that Exxon called a halt to the payments in 1971 when it discovered that the subsidiary's president, Vincenzo Cazzaniga, since dismissed, had spent an additional $19 million that had not been authorized. Included was a voucher for $86,000 supposedly paid to the Italian Communist Party, which made sweeping gains in regional elections last month partly by boasting that its hands were "clean" of foreign oil money. The Italian...
Italian Custom. According to a 1972 audit by Exxon, a number of bookkeeping stratagems were used to hide the payments. One was to fill out vouchers for goods that were never received. Monroe said Exxon executives were persuaded to keep the payments secret by Cazzaniga, who reported that that was the custom in Italy. Pointing out that camouflaging the payments also enabled the company to deduct them from its Italian income taxes, Subcommittee Chairman Frank Church of Idaho charged that Exxon was practicing "a fraud on the Italian government." Moreover, subcommittee experts reckon that the favorable legislation resulting from...
...problem is not the size of the oil contributions-corporate contributions are still legal and a major source of political parties' funds-but rather the favors the oilmen allegedly got for them. Whether the companies can clear themselves depends largely on the eventual testimony of Industrialist Vincenzo Cazzaniga, who until two years ago headed both Unione Petrolifera and Exxon's local subsidiary Esso Italiana. A warrant for his arrest has been issued, but he is now on a business trip abroad. Cazzaniga is specifically charged with having distributed about $2 million to politicians in 1972 to make sure...
...salaries available to selected stockholders-but not to the public. In Italy, the highest caliber executives get between $30,000 and $50,000 a year in salary, plus generous expense accounts; at the top salary level are such executives as Diego Guicciardi, director of Italian Shell, and Vincenzo Cazzaniga, Italian boss of Esso. The average member of the board of management of a big German company may make a salary of about $50,000. The biggest German salaries are in the auto indus try, topped by an estimated $250,000 paid to Daimler-Benz's Walter Hitzinger. Only...
Most important, the local managers have a feel for the hard-to-define difference in mentality between the old world and the new. Esso's chief in Italy, Vincenzo Cazzaniga, has persuaded his home office to buy tens of millions of dollars worth of ships from Italian shipyards-even though the cost is greater than elsewhere. The gesture burnishes Esso's image in the eyes of the Italian people and the government. Small gestures are also important. No German businessman would ever think of dining at a customer's house without bringing flowers for the hostess...
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