Word: longo
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Dates: during 1960-1969
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...adamant was longtime Director-General Imbriani Longo, now 72, about the proposition that politics and bank ing do not mix that he even declined government honors and decorations...
...Longo's policies paid off. The Lavoro, which makes loans on everything from grain crops to Gina Lollobrigida movies, is now the world's eighth largest commercial bank. It has assets of $7.05 billion, last year earned $11,136,000 from the operations of 205 domestic and ten overseas offices...
Squabble Between Allies. Last week, though, the Banca del Lavoro was vault-deep in politics, and both Longo and Ettore Lolli, 58, his longtime No. 2 man and heir apparent, had resigned. Reason: a squabble between Christian Democrats and Socialists over who would be officially tapped to run Italy's biggest financial institution once Longo stepped out. The Christian Democrats favored Lolli, who has the backing of such important moneymen as Bank of Italy Governor Dr. Guido Carli and Treasury Minister Emilio Colombo. The Socialists, demanding jobs and economic power as the price for their 1963 split with...
...prosperous and conservative Italian working classes. Communist Party membership has wilted from its postwar peak of 2,145,317 to 1,615,296, and the slippage among youth groups (off 60%) and in the factories has been even more drastic. Seeking to match the mood of the new masses, Longo suggested a nuova maggioranza (new majority) that would unite Communists, Socialists and left-wing Christian Democrats behind a platform demanding nothing more doctrinaire than better economic planning and fewer monopolies. Over objections from some hard-lining delegates, Longo hinted that his merged party might even be willing to change...
...other party appeared very interested in Longo's offer of "a new leftist unity"-least of all the two other major left-wing parties, the Socialists...