Word: fiat
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...an�Agnelli would prefer. The anointed heir to Italy's greatest industrial fortune is settling into his chair at Vittoria, a homespun Torino trattoria where plates clank every time the nearby kitchen door swings open. But for John Elkann, the 30-year-old who is vice chairman of both Fiat and IFIL, the Agnelli family's $7.7 billion holding company, it is the perfect setting for a power lunch. "You know why I really like this place?" he asks, lowering his voice and widening his eyes. "Because it's fast...
Those are the words of a young man on the move. It has been nine years since he was handpicked by his grandfather Giovanni (Gianni) Agnelli to be next in line to take the reins of the family's vast automotive and financial empire. And while Fiat's fortunes have roller-coastered, Elkann has been methodically groomed for the throne of one of Europe's legendary financial kingdoms. Guiding an entrenched business dynasty in a competitive global marketplace is a tall order for the tall executive--a lofty 6 ft. 2 in., though still baby-faced...
...Junkers JU52 bombers of the Luftwaffe's Condor Legion arrived. For three hours high-explosive and incendiary devices fell on the town, whose narrow streets were packed with villagers and peasants from the surrounding countryside. Those who managed to flee the firestorm were hunted and strafed by Messerschmitt and Fiat fighter planes. A third of the town's 5,000 residents were killed, mostly children and old people; perhaps another thousand visitors died. Far from the front lines of the Spanish Civil War, which had begun the previous July, the town had no military importance. Its bombing was an exercise...
...public outpouring in Italy when his grandfather died, with top political leaders and ordinary citizens flocking to the wake and funeral, sealed the family's decision to commit to Fiat's future - even if it meant the hard work of selling assets, overhauling management and reinvesting in the core company, hardly the typical Italian way of doing business. "This country paid a great tribute to my grandfather," Elkann said. "It was a family feeling to respond." Though it unfolds like a Victorian play, Elkann insists that his ascendancy to the Fiat throne was "very natural." Born in New York City...
...stadium to gracefully, but clearly, voice his no-confidence in the then management. He has since named a completely revamped Juventus board and a new team code of ethics. Most importantly for the long-term strategy, Elkann spearheaded the family's decision last September to push their stake in Fiat back above 30% for the first time since the bank bailout. Elkann has been working hand in hand with IFIL chairman, Gianluigi Gabetti, 81, among Agnelli's closest confidantes. The pair picked Marchionne, the man largely responsible for the car company turnaround. Besides launching two successful new models, the Panda...