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...Italian firm to be bought outright by a Chinese company when, in October 2005, the Qianjiang Group, China's third-largest scootermaker, purchased Benelli for $24 million. At the time of the bid, Qianjiang's purchase of the storied brand from its last Italian owner was seen as another sign of the country's industrial decline, with local newspapers deriding the sale as a "disaster" and an "ugly story." Indeed Italy's manufacturing model - built largely on small and midsize companies that turn out easily replicable products from light fixtures and heavy tools to sofas and office chairs - has proved...
Downstairs on the shop floor, where 18 motorcycles are produced a day, there is not a single visible sign that Benelli is Chinese-owned. With his handlebar moustache and thick sideburns, veteran worker Righi believes Qianjiang has brought a real change for the better. "We've seen more investment and new projects in the past 18 months than we'd seen in the past decade," he says. On the local level, this might be the most meaningful effect of the Benelli-Qianjiang model: the hundred or so Italian employees at the plant see the Chinese parent as the savior...
Chrysler's fate could be the sign of what is to come for the U.S. auto industry and labor unions. Some say Cerberus' difficulty securing loans for the deal could also mean that the heyday of private equity is over...
...Rialto, Calif., four years ago, the iconic Route 66 property was rundown. Its stucco teepees, built in the 1930s by Kentucky motor-inn visionary Frank Redford, had been frequented by drug addicts and prostitutes because the Wigwam's previous owners tried to reel in customers with a cheesy sign urging them to DO IT IN A TEE PEE. The Patels, who left India for the U.S. in 1980, worked hard to restore the motel to its former glory and added some modern amenities, including free wi-fi access. Says the owners' son Manoj, 27: "It feels good to know that...
...into three major categories: school closure, cancellation of public gatherings, and isolation and quarantine. During the 24 weeks researchers studied, there were 115,340 excess deaths due to pneumonia and influenza in 43 states, with a collective population of about 23 million. New York City responded to its earliest sign of infection with isolation and quarantine over a sustained period of time, beginning 13 days after the first case was detected, and had the lowest pandemic-related death rate of any city on the East coast. By contrast, Pittsburgh reacted late, waiting one month, and suffered the greatest number...