Word: fiat
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...computers, no European firm is capable of competing with America's IBM or Japan's Fujitsu. "We know very well that European companies still are a long way away from having the critical mass necessary to stand up to the competition," concedes Gianni Agnelli, chairman of Italy's Fiat. Still, some success stories show that Western Europe has not been entirely eclipsed at the high-tech end of the market, where the battle for survival will be keenest. Airbus Industrie has emerged as Boeing's main competitor in the lucrative commercial aviation sector. While the U.S. struggles to regain momentum...
...cannot hire workers with a view to profiting from their labor but rather must form cooperative arrangements. There is a noncompetitive banking system, and no stock market for financing private ventures. Most important of all, there is no rational price system: thousands of prices are still set by state fiat rather than supply and demand, which means that supply never seems to equal demand...
...deal, which is expected to be approved by the Italian government, was a coup for the U.S. firm. AT&T triumphed over a homegrown bid from Fiat, as well as proposals from French, West German and Swedish competitors. The Italian project will help give AT&T a strong foothold in the fast-growing European telecommunications market. Italtel, for its part, hopes to parlay its new association into expanded phone-equipment exports...
Disguised in guard's uniforms, three of the most notorious inmates of Tura Prison near Cairo beat two jailers unconscious last week, then grabbed their machine guns. Spraying bullets to discourage pursuit, they leaped into a white Fiat parked near the prison and vanished...
...halcyon days when there was more than enough federal pork to go around, closing an outmoded military base was a rather simple operation. Between 1961 and 1977, for example, the Pentagon disposed of hundreds of military installations by executive fiat. But in 1975 the Air Force made the mistake of trying to shut down its Loring base in northern Maine. The state's Republican Congressman, William Cohen (now a Senator), joined then House Majority Leader Tip O'Neill to require the Pentagon to submit costly and time-consuming environmental impact studies before any base could be shuttered. Loring was saved...