Word: olivettis
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...pled suit analyzed Italy's current and long-range troubles. "The real problem," he said, "lies in the decadence of the ruling class - both in politics and business . . . This class no longer has the energy or the intelligence to cope with the situation." The speaker was Adriano Olivetti, boss of Italy's big Olivetti company, makers of everything from typewriters to machine tools, with a worldwide business of more than $30 million a year...
...Adriano Olivetti is one of Italy's most successful businessmen. When he took over the business from his father in 1932, Olivetti had 1,200 employees and one plant. Now, from his main office at Ivrea, 29 miles from Turin, Adriano Olivetti heads a company with 11,000 workers, six manufacturing plants (four in Italy, one each in Spain and Scotland). His products, used in dozens of countries, are so handsomely designed that they have been displayed at Manhattan's Museum of Modern Art. In 1953, Olivetti machines earned Italy more dollars ($2,400,000 ) than any other...
Profits & the Left. Olivetti runs his business in a way that shocks many Italian industrialists. By his example, he tries to demonstrate the widespread changes he feels are needed if democracy is to survive. The bankruptcy of the managerial class has gone so far, says he, that the big monopolies cannot reform, should gradually be transformed into joint stock companies owned by local communities and by such foundations as workers' and technicians' cooperatives...
...proof, Olivetti cites the Marshall Plan. In four years, U.S. aid helped in crease industrial production 46%, raised the national income 36%. But workers' real wages increased less than 18%. Says Olivetti: "U.S. funds were channeled through the very monopolies and bureaucracy that had accepted Fascism and are responsible for the country's maladies...
...abolish the "visionary" outlook of his old magazine, give as many as 150,000 readers (first printing: 82,000) solid information about international politics and business. The first issue has such articles as the "last message to the West" from Berlin's late Mayor Reuter, Italian Industrialist Adriano Olivetti's explanation of "How U.S. Aid Boomeranged in Italy," and regular departments on investment abroad, the United Nations, "What's Ahead," etc. The first issue of the new magazine was warmly greeted by the internationally minded Christian Science Monitor. Said the Monitor: World "promises to be world-minded...