Word: edisonizing
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Born in Hungary, and possessed of a rich musical heritage (he enjoys playing his cello to his mother's violin accompaniment), the grey-haired Goldmark hardly seems the Edison-style scientific adventurer. But after studying physics at the University of Vienna, he became so captivated by television that he turned to electronics and moved to the U.S. in 1933 to apply for a job with RCA. He was blithely unaware of the Depression-until he was abruptly turned down. He finally joined CBS in the early days of broadcast TV. "We did everything-put on the show, ran transmitters...
Italy's state-run enterprises, which already dominate a sizable amount of the country's business, last week pulled a stunning coup. With a stealth that would have impressed Machiavelli, they gained virtual control of the biggest Italian private company, Montecatini-Edison, a widely diversified manufacturer of chemicals and many other basic products. The maneuver was accomplished through an unprecedented joint assault by the government's two largest industrial complexes, ENI and I.R.I., which between them have substantial interests in 275 firms and control all or most of Italy's steel, oil, shipbuilding, aviation and banking...
More than Equal. Montedison was formed in early 1966 by a merger between Montecatini, a chemical-minerals complex, and the Edison Group,* a private power company that wisely had begun branching into chemicals, steel and other goods before Italy nationalized power in 1962. Soon after the merger, I.R.I. and ENI began secretly buying Montedison stock. By last week they had accumulated at least 15% of the stock, making the government the firm's largest single shareholder. The state-run corporations set UD a new shareholders' syndicate, in which ENI-I.R.I. will have an equal voice with...
...government victory was a sharp setback for Montedison President Giorgio Valerio, 64, who as head of the Edison Group had engineered the 1966 merger. That alliance had been seen as a way of helping Italy's chemical industry to compete in world markets. But Valerio had trouble welding the staffs of the two companies, and the new combine was troubled by runaway costs. Profits declined by 7.4% last year to a reported $75 million...
...Named after Thomas Edison, whose patents it used in Italy...