Word: umbertos
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...workers to counter its low birthrates, keep its economy primed and help defuse its looming pension crisis. But most Europeans haven't yet meshed the need for immigrants with a willingness to integrate them into society. Across Europe, the political momentum is with those who want immigration stopped, period. Umberto Bossi, leader of the far-right Northern League, which is part of Silvio Berlusconi's governing coalition, said earlier this month that housing in Milan should go to native Italians "and not to the first 'bingo bongo' who comes along." In Rotterdam, the party started by slain anti-immigration politician...
...world got a rare glimpse of the company's heir apparent. John Elkann--the grandson Agnelli had handpicked six years earlier as his eventual successor--cut a striking figure at the wake in Turin, reminding many of the young Agnelli's poise and elegance. For now, Gianni's brother Umberto Agnelli, 69, controls Fiat Corp. But Elkann, 27, has become the man to watch...
...died in January at age 81, all Italy mourned the passing of a legend. Handsome, dashing and impeccably connected, he personified Italy's growing postwar affluence. But by the end of his life, his family's affairs were a mess. In the two months since his death, his brother Umberto, 68, has stepped out of the shadows and is moving swiftly to realign management and shore up the finances of the Agnellis' prize asset, the 104-year-old automaker Fiat, which posted a $4.6 billion loss last year...
...Agnelli family long ago moved to diversify its wealth into stakes in such companies as Club Med and Danone, the world's biggest yogurt manufacturer. Whether or not Umberto succeeds in rescuing Fiat, the Agnellis face a vexing succession issue: there is no heir in the next generation. Giovanni's only son Edoardo killed himself two years ago, and Umberto's son Giovanni Alberto, who was being groomed as the successor, died of cancer in 1997. The burden of securing the family's financial future will probably fall to Giovanni's U.S.-born grandson John Elkann, who is just...
...Although Agnelli, known to friends as "Gianni," was once the ultimate decision maker at the Turin conglomerate, his power, like his health, had waned as Fiat was battered by crises in the boardroom and in the market. In fact, control of Fiat had already shifted to his younger brother Umberto, a handover that was scheduled to be formalized the morning of Gianni's death. Also on the agenda: how the family would come up with the billions needed to keep Fiat whole. "He was a remarkable man and it will be hard to replace him. I just wish...