Word: olivettis
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What has happened to the Italian renaissance, the new economic miracle? Observes Olivetti Chairman Carlo de Benedetti: "The party's over" -- although he hastens to add that "the party's over in the world economy." Italy may export truffles to France, but these days it also imports its eggs, milk and even its breadsticks. Worse, the cheap dollar means that Italian shoe and clothing exports are not selling very well in the U.S. Moreover, Italy's trade deficit this year, at more than $6.6 billion, is already twice the 1986 level...
Rumors of a shutdown sweep the Palazzo Mezzanotte trading floor as the opening bell fails to ring. Finally the dealing begins, one hour late. As Fiat, Olivetti and other stocks lose 10% of their value, trading is stopped in each...
...almost daily discussion with the museum's staff. Born near Udine into a family she calls "minor intellectual nobility," Aulenti, 59, honed her sense of design during ten years on the staff of the architectural magazine Casabella, and made her name as a designer in 1969 with her Olivetti showrooms in Paris and Buenos Aires. "In one way, she's a great success as an architect," says Italy's leading architecture critic, Bruno Zevi, who considers her work inspired and sensitive. "In another, she's unsuccessful -- up to now her work has been limited to various forms of 're': refurbishing...
...Benedetti continues to pursue foreign partners. Last week Olivetti announced that Xerox will now market Olivetti's M-24 personal computer in the U.S. and Canada under the Xerox name. Market experts estimate the U.S. firm may sell some 30,000 of the machines a year. At the same time, Rank Xerox, the firm's British operation, will work with Olivetti to produce and market equipment in Europe and Asia...
...attempt to make Olivetti a world leader in electronics seems like a logical corporate strategy. But what about De Benedetti's interest in both electronics and food? The chairman insists that it is a marriage of perfectly suited partners. He notes that the food industry has a low rate of expansion, but great stability and a consistent cash flow. The electronics business, on the other hand, has just the opposite: a rapid rate of growth, but also high risk. Says De Benedetti: "The two activities, in a sense, are perfectly integrated...