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...decorations. In those days visitors rode into the caves in horse-drawn carriages. With the installation of electric lighting a century ago, the largest and arguably most beautiful chamber became a 10,000-seat concert hall, attracting some of the world's most famous performers, including legendary Italian tenor Enrico Caruso. Today, small electric trains carry visitors on a 5-km ride to Postojna's heart; from there the journey is on foot, through what British sculptor Henry Moore described as "nature's most wonderful gallery." Watch out for Proteus anguinus?the "human fish," a colorless, eyeless newtlike creature with...

Author: /time Magazine | Title: Subterranean Spectacular | 4/5/2004 | See Source »

...America and auditing houses Grant Thornton and Deloitte & Touche also face indictment (they deny wrongdoing). Prosecutors hope to skip the preliminary hearing and obtain rapid convictions in a case that has eroded confidence in Italian industry and finance. Another important delivery arrived last week, as state-appointed executor Enrico Bondi presented his bailout plan. He hopes to sell all noncore businesses and reduce Parmalat's brands from 120 to 30 (concentrating on fruit juices and, of course, milk). Prosecutors in Milan are expected to seek more trials, under normal timetables, against other suspects. T-Mobile's Berry Big Deal...

Author: /time Magazine | Title: Biz Watch | 3/21/2004 | See Source »

...their father's alleged deeds. Investigators claim the younger Tanzis helped divert as much as €400 million into private family accounts to try to salvage the tourism business run by Francesca. The founder's brother, Giovanni Tanzi, was also arrested last week, along with another four Parmalat officials. Enrico Bondi, a corporate bailout wizard installed by the Italian government, is trying to salvage the company. A Parmalat spokesman told TIME that a draft company-restructuring plan will be submitted this week. The Parma soccer team, once run by Stefano, is almost certainly destined for the chop...

Author: /time Magazine | Title: It's a Family Affair | 2/22/2004 | See Source »

...Securities and Exchange Commission, probe his role in an alleged $8.8 billion fraud that could implicate Parmalat in Europe's biggest corporate scandal ever, easily on a par with those of Enron and WorldCom in the U.S. Parmalat has filed for bankruptcy, and corporate-turnaround expert Enrico Bondi is trying to salvage what he can of the firm, which has 36,000 employees in 30 countries, including 7,300 in North America. Among its holdings is Archway Cookies, now on the block. Along with Tanzi, seven others connected with Parmalat were arrested last week...

Author: /time Magazine | Title: Enron, Italian Style | 1/12/2004 | See Source »

...last week, and Tanzi's son Stefano was questioned by prosecutors. The size of the alleged fraud could make Parmalat the biggest corporate scandal ever in Europe, easily on a par with Enron or WorldCom in the U.S. Parmalat filed for bankruptcy on Christmas Eve, and corporate-turnaround expert Enrico Bondi is trying to salvage what he can of the firm, which has 36,000 employees in 30 countries and top-selling brands including Parmalat uht milk and Archway cookies. On Friday, dozens of company workers and small shareholders in Collecchio - Parmalat's headquarters and Tanzi's birthplace just outside...

Author: /time Magazine | Title: Autumn Of The Patriarch | 1/4/2004 | See Source »

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