Word: petrilli
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Dates: during 1964-1964
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...economic bog, the country will have to depend heavily on IRI (pronounced eerie). But that is what IRI is there for. Founded by Mussolini in 1933 as a hospital for depression-sick companies, IRI provides jobs for nearly 300,000 Italians. Says IRI's genial President Giuseppe Petrilli: "IRI is the state's fundamental instrument for supporting sectors in temporary crisis...
Private Zeal. In many respects, IRI behaves like a private enterprise. President Petrilli, 51, a gracious economics professor who directs the many-sided complex from a baroque building on Rome's Via Veneto, encourages the chiefs of its 130 companies to stand on their own with a minimum of bureaucratic stuffiness. IRI has sold to private investors up to 45% of the stock in some of its individual companies, has joined in ventures with U.S. Steel and Raytheon. Italy's leftists have damned IRI as a thinly disguised capitalist entity; on the other hand, conservatives have complained that...