Word: fiat
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...firm that -under the guidance of Frank Lloyd, a dealer of legendary if unloved astuteness-has in the past decade become the world's richest gallery complex, with main offices in New York, London and Rome, a branch in Tokyo and a network of holding companies in Liechtenstein. Fiat had agreed to design and build four air-conditioned "Artmobiles" equipped to carry shows all over the U.S. The American branch of Fiat was to give these to the Met as a public relations gesture. Though the Met officially denies it, sources within its staff believe that the gift...
...experience has not been altogether a happy one. Italy's strike-ridden economy, slumping for the past three years amid a virulent inflation rate that rose to 7.3% in 1972, has kept Umberto hopping from one crisis to another. Last year alone Fiat production fell short by 200,000 cars because of strikes. As a result, the company failed to show a profit or pay an interim dividend for the first time in its history. The prospects for an improved labor climate and an end to Italy's recession this year are mixed, but the younger Agnelli expects...
Angel Face. That strategy has previously served Agnelli with remarkable success. As president of Fiat France from 1965 to 1970, he doubled the firm's auto sales in that country. Later, as president of Fiat International, he made Italy's bestselling car the most popular import throughout the rest of Western Europe, started building Fiat factories in Argentina and Poland, and launched an energetic sales campaign in the U.S. Since 1970, the number of Fiats sold in the American market has doubled, to nearly 60,000 last year. For the first eleven months of 1972, Fiat...
Lately, Umberto has been surprising Italy's staid business establishment with regularity. Not long after taking over as Fiat's sole general manager, he put 5,000 Fiat white-collar workers on "flextime," under which they can choose their own working hours within certain broad limits. Last fall rocked the conservative leadership of Confindustria, an association of the nation's private manufacturers, by proposing that small firms be better represented in the group and that Italian industry in general establish better relations with workers. "La scossa Agnelli" (the Agnelli shock), Italian newspapers called the proposal. After...
...their differences, the two brothers show every sign of working well together. At Fiat's most recent annual meeting, Gianni held his customary sway oh the podium, reaching out occasionally to accept a lighted cigarette from Umberto. Yet when Umberto has something to say about autos, Italian businessmen have learned to listen. Especially if Fiat's profit picture improves, many of them expect Gianni to withdraw slowly from active management of Fiat, concentrate on the family's sidelines-including insurance, banking, real estate, publishing and other financial interests besides autos-and turn the auto business over...