Word: krupp
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...general manager of the $1.25 billion-a-year Friedrich Krupp empire, suave, handsome Berthold Beitz (pronounced bites) is the most controversial executive in postwar Germany. Polish Prime Minister Josef Cyrankiewicz calls him "an outstanding special ambassador from West Germany," and Poland's Communist Party Chief Wladyslaw Gomulka agrees. Nikita Khrushchev recently received him for a 21-hour chat. Bonn's professional diplomats snidely dub him "the foreign minister from Essen...
...Alfried Krupp met him through mutual friends in 1952. The austere and cultivated Krupp hit it off immediately with the gregarious and self-made Beitz, partly because Beitz thought Krupp wanted to borrow money from his insurance firm and was thus unawed by him. Krupp really was looking for someone to put back together his war-torn company, and offered Beitz virtually unlimited authority...
...such a scale, exhibitions can be very expensive; German companies allot $375 million yearly to fairs, or about half as much as they spend on all advertising. Such smaller companies as porcelain makers or optical works may hope to recoup their outlay in sales or business contacts. But for Krupp, Henschel, Mannesmann and other heavy machinery giants, which occupy 60% of the space at the Hanover Fair, the return is measured largely in good will. The really interested customer keeps up with their products anyway, and visits the plants to inspect them; he rarely buys anything big at such fairs...
Though they would not abandon industrial fairs, the large companies would like them to be held only every other year. They also want the types of exhibitors limited, and confined to showing only new products. Krupp General Manager Berthold Beitz believes that fairs force firms to be more competition-conscious, but would "just as soon show one really interesting product as ten mediocre ones." Adds he: "If we cut out mediocrity, we will also get the kind of visitors we want; and when that happens, we won't have to go to so many other fairs either. You just...
...monopoly, last year earned $4,500,000. Most of Pagliai's deals interlock in some way. Pagliai has helped to finance TAMSA's export sales through a finance company, Intercontinental S.A., that he created with the capital aid of such cronies as Germany's Alfried Krupp and big U.S. Investment Banker Charles Allen. Intercontinental S.A. has helped finance foreign investments in Mexico and raise large foreign loans for the Mexican government as well as for Pagliai's new aluminum plant, which is owned 35% by Pagliai's interests...