Italy: How to Insulate

ITALY How to Insulate

One way for a company to insulate itself against recession at home is to operate in so many other countries that somewhere, some branch of the company will be doing well. This theory is amply justified by Italy's Pirelli Group, which produces half of its tires, cables and rubber goods in Italy and the rest in 25 factories in eleven other countries. During Italy's 1964 recession, the home company lost $120,000, but thriving foreign operations gave the group as a whole a profit of $8,130,000.

Stamping Down. Last week...

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