Word: leopoldo
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...that they were not turned over to Roman civil authorities. They were released on bail, which is rarely allowed by Italian courts. Also, they are getting a speedy trial, which is even more unusual in the litigation-swamped Italian system. On top of that, the Vatican's prosecutor, Leopoldo Jacobelli, last week rose in court to ask the judges for clemency, partly because the thieves had confessed, partly because "the Vatican is benevolent." Even if the judges do impose heavy sentences, the culprits may still get off lightly: they could be pardoned by Pope Paul...
...greatest troubles afflict the ambitious transnational combinations of companies. Two years ago, Britain's Dunlop and Italy's Pirelli pooled interests to form a tire, cable and rubber giant, with sales of $2.3 billion. At the time, Leopoldo Pirelli, chairman of his family-run Italian company, said, "This is a marriage from which there is no turning back." Yet last week the partners had divorce in mind...
...guide to cost cutting, but to little avail. Geddes is discussing with Dunlop's bankers possible changes in the union; the choices are few. The British could try to persuade Pirelli to pull its Italian operations out of the world-spanning combine; yet that would hardly appeal to Leopoldo Pirelli. Or Geddes and his executives could continue trying to help Pirelli, at the risk of having rising losses entirely submerge Dunlop profits...
Dunlop-Pirelli is a textbook case of comparative advantage. Of the 26 countries in which one or the other makes tires, they overlap only in Britain and Germany. The two chief executives -Geddes and Leopoldo Pirelli-are also a good match. Both are somewhat reserved and prone to understatement, and both have ancestral ties to their companies. Geddes' father was once chairman of Dunlop, and Leopoldo Pirelli is a member of the third generation of his family to run his company. Multinational management can present gummy problems, but Dunlop and Pirelli are determined to make...
...major interest. Decrying Italian financial companies as "a group of hens nesting on rocks," Merzagora's group demanded that Bastogi try to stimulate private investment rather than keep its capital in the serenity of real estate holdings. Another group, headed by Insurance Executive Ettore Lolli, joined with Tiremaker Leopoldo Pirelli to oust the conservative management of La Centrale, a holding company that had most of its $200 million portfolio in real estate and food. The new management has turned La Centrale toward a more active role in both domestic and foreign investment...