Word: fiat
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...more than a month, America's Ford and Italy's Fiat had waged a fervent campaign for the hand of Alfa Romeo, the prestigious but financially troubled maker of sleek sports cars. Last week the local swain won. I.R.I., the Italian state conglomerate that owns Milan-based Alfa, announced acceptance of Fiat's $5 billion offer for 100% ownership. Also-ran Ford's bid was never made public, but it was believed to include an initial $100 million for a 20% chunk of Alfa plus promises of a hefty $2 billion additional investment in the company...
...removing an elected student representative by administrative fiat the Ad Board undermined the council's integrity and legitimacy as a representative body. Regardless of widespread ambivalence about the council's effectiveness and accountability, such complete disregard for the body's role as an organization of and for students is indefensible...
...nearly a year, Fiat Chairman Gianni Agnelli has been trying to rid Europe's largest private automaker of an unwanted partner: the government of Libyan Strongman Muammar Gaddafi. In 1976 Libya purchased a 15% share of the then troubled company for $320 million and won two seats on Fiat's 15-member board. After Fiat executed a successful turnaround to become Europe's best- selling automaker, the Tripoli government refused to part with its shares. Last week Libya, presumably strapped for cash by low oil prices, handed over its shares for a handsome $3 billion. Two of the buyers, West...
With Libya out of the picture, Fiat is free to negotiate military contracts with the U.S. Government, an activity that was discouraged by the Reagan Administration as relations with Libya deteriorated...
Detroit's strategic alliances with foreign carmakers have multiplied during the past decade because of intensifying global competition. The major U.S. automakers have jointly produced autos with Japanese, British, French and German companies in order to share new technology and enter lucrative foreign markets. But until recently, notes Fiat Chairman Gianni Agnelli, "Italy is the only car-producing country in Europe where Detroit has seldom been...