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...Still, the plan hammered out by Maurizio Prato, Alitalia's third chairman in the past year, may contain a corporate logic that goes beyond all the apparent wheel-spinning. The company, no one doubts, must be sold. The 5,000-pound vulture in the room is named Air France-KLM, which sat out this past year's round of bidding. Alitalia's initial cuts (modest as they are) to both personnel and fleet, its search for some hanging-on cash, and above all its shifting its hub southward all make it a more attractive regional partner for Air France following...

Author: /time Magazine | Title: Desperation Grows At Ailing Alitalia | 8/31/2007 | See Source »

...which equals about $2.7 million a day) still buzzing in the ears of government officials, investors and ordinary Italians, Alitalia is making its next move to stave off collapse. On Sep. 7, Alitalia's board is expected to finalize the details of what it is billing as a "survival/transition" plan for 2008-2010. Cynics will liken it to the allotment of a few fire extinguishers for the Hindenburg. Union officials have said that the plan calls for the company to try raise up to 1.5 billion euros in capital, cut some 1,000 of its 18,000 jobs, eliminate several...

Author: /time Magazine | Title: Desperation Grows At Ailing Alitalia | 8/31/2007 | See Source »

...reminder of how every step Alitalia takes comes loaded with political implications, the plan is also expected to reinstate Rome's Fiumicino airport as the airline's primary transatlantic hub, pulling flights from Milan's Malpensa airport. A decade ago, the construction of the airport 30 miles (50 km) northwest of Milan was seen as a great victory for powerful northern politicians. Now both the Milanese mayor Letizia Moratti and the governor of the Lombardy region Roberto Formigoni - both rising stars of the center-right, which is the opposition in the capital - have vowed to fight the plan. Alitalia officials...

Author: /time Magazine | Title: Desperation Grows At Ailing Alitalia | 8/31/2007 | See Source »

...Telstra Stadium to face the world's media. In a boilover, his side had just lost its semi-final against Australia. Mitchell's black blazer highlighted the absence of color in his face. With dignity, he answered every question, some of them insulting like, "Did you have a game plan tonight?" But he looked and sounded like a man who'd just foreseen the end of the world. Within a month, the New Zealand Rugby Union sacked...

Author: /time Magazine | Title: Back To Blacks | 8/31/2007 | See Source »

...government spends per year on the federal prison system. The government would get $1 billion in dividends from the investment and would be able to cash in the bonds that people don't use. At the same time, corporate America would need to play a critical role in a plan for universal national service. The private sector has contributed more than $1 billion to AmeriCorps. The private sector must step up to the plate in funding national service - after all, it benefits...

Author: /time Magazine | Title: A Time To Serve | 8/30/2007 | See Source »

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