Word: fiat
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...grown from a hamlet to a bustling city of 85,000 as home base for West Germany's largest industry. With assembly plants from Africa to Australia, the bug was the new Model T, a ubiquitous symbol of the West German economic resurrection. Although Italy's Fiat last summer overtook VW as the world's fourth biggest automaker (behind the U.S. Big Three), Volkswagen's total sales last year reached $2.3 billion, even after the West German recession of early 1967 forced a temporary 25% cutback in domestic production. Soon, the 14 millionth beetle will roll...
...While some Somalis in the north speak English, many southerners rattle off Italian with ease-and are only slightly less adept at the appropriate hand gestures. Italian influence also remains in the crumbling old arches and seaside villas, the pasta and Italian wines served in restaurants and the 1934 Fiat trucks that disgorge angry clouds of billowy, greasy smoke in the streets of the capital of Mogadishu...
President Thieu discovered, though, that not everything could be accomplished by decree. He had asked the National Assembly for special powers to rule the country's economic sphere by fiat for one year. By a surprising vote of 85-10, the House of Representatives turned Thieu down. Explained one representative, Nguyen Van Nheiu: "Special powers lead to dictatorship." Thieu still has a chance to have his way if the Senate approves the measure and sends it back to the House. But if nothing else, the exchange demonstrated that the fledgling constitutional rule begun last fall amid such high hopes...
...Almost two years were to pass before two synthetic fiber plants worth $40 million were ordered through his services from Chatillon in Italy. Then things started picking up with contracts for six 50,000-ton tankers for Savoretti's client Ansaldo, followed by others and culminating in the Fiat deal, the largest the Soviets ever made with a Western firm...
Today Savoretti represents some 50 Italian firms as exclusive agent or in some other capacity. They include Fiat...