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...Italy, where Communism is big business, Reale held the key position of party administrator. As such he sat on a three-man committee, supervising the flock of import-export firms which the party has set up or taken over to handle Soviet-bloc trade in Italy. Italian businessmen rapidly found out that the only sure way of doing business east of the Iron Curtain was to let these Red companies handle their trade. By last year, U.S. experts estimate, the firms handled more than half of Italy's $123 million East-West trade...
...disgruntled Zurich lawyer named Bruno Greuter told a reporter from Rome's conservative Il Tempo a startling story. Back in 1951, said Greuter, his friend Reale dropped in at his office, said he was tired of political life, and asked for help in setting up a little import-export business in art objects. Greuter arranged to sell him the stock of an acquaintance's long-moribund holding company, Terbita. But far from quitting public life, Reale got elected to the Italian Senate, and sent a young Italian named Norberto D'Allessandri to Zurich to take care...
CRUDE-OIL IMPORTS must be cut, warns ODM. With industry planning imports of 352,000 bbls. daily v. 287,000 maximum advised by Government, ODM has notified industry of its "real concern" about effects on domestic production, hints it may seek import curbs if industry persists...
...trade with Russia and her satellites-the U.S. and her allies are sharply split. Last week the split widened. Commerce Secretary Sinclair Weeks, with the backing of the Pentagon, refused to okay a deal between Texas' Dresser Industries, Inc. and the Soviet Ministry of Trade. Dresser wanted to import what it called a revolutionary turbine oil-well drill developed by Russian engineers. In return it would agree to ship the Russians some of its own rotary rock drill bits, instruct them in their use. But Commerce, State and Defense Department experts decided that Dresser would get nothing...
James R. Killian, Jr., president of the Massachusetts Institute of Technology, also spoke at the meeting and declared that Harvard and M.I.T. "import money and men into Cambridge and export ideas...