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Very good question. If we produced in a cheaper market, we would make, short term, very big profit, but then we would question the quality, the continuity, the tradition and the "Made in Italy," which I consider a second brand to go next to the Ferragamo brand. We have decided to give up on margin, maintain high costs and think long term. On the other hand, I think some of our employees are a little spoiled. I work 12 hours a day, but our workers work less than eight. Now there is competition. Maybe we should all pull our sleeves...

Author: /time Magazine | Title: CEO Speaks: Ferruccio Ferragamo | 2/2/2009 | See Source »

...leader of the Lords, is "bananas." It's hard to disagree. MPs convicted of criminal offenses or found to commit acts deemed improper can be expelled from the Commons. Jailbird peers, such as novelist and one-time deputy chairman of the Tory party Jeffrey Archer, who served a prison term following a perjury conviction; and Conrad Black, currently in jail for fraud, are still entitled to wear the ermine robes of the peerage and style themselves Lords...

Author: /time Magazine | Title: Lords for Hire? Scandal Rocks U.K. Parliament | 2/2/2009 | See Source »

...seems confounded no more. He has called yet another national referendum, for Feb. 15, to revisit the term-limits question. And this time he's doing a more effective if controversial job of thwarting the youths who once thwarted him. "If they block a street, tear-gas them good," he has urged the police. With the students neutralized, and with the regular opposition parties still unable to challenge Chávez on a national level, the leftist revolutionary looks likely to win this new bid for indefinite re-election. Chávez "is playing a more effective role against...

Author: /time Magazine | Title: Chávez Beats Back His Student Opposition | 2/1/2009 | See Source »

...have figured out how to beat Venezuelan President Hugo Chávez have been kids. Since first winning the presidency in 1998, Chávez had never lost an election until December 2007, when he was stunned in a constitutional referendum that he had hoped would eliminate presidential term limits and greatly expand his socialist project. But his nemesis in that plebiscite wasn't Venezuela's feckless political opposition. It was a broad and unexpected university-student movement that took to the streets, mobilized the victorious "no" vote and flummoxed...

Author: /time Magazine | Title: Chávez Beats Back His Student Opposition | 2/1/2009 | See Source »

...students say such incidents are evidence of a larger Chávez failing - the seemingly intractable violent crime plaguing Venezuela today. It's a large reason, they argue, that presidential term limits should remain in place. (Under the present constitution, Chávez's second and final term ends in 2013.) Chávez and his backers insist that he's the only one who can ultimately tackle such crises given how ineffective the opposition is and may yet be for a while...

Author: /time Magazine | Title: Chávez Beats Back His Student Opposition | 2/1/2009 | See Source »

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