World Business: Trouble on the Tapes

For months the computer tapes of two of Europe's biggest business machine makers have been feeding back their information in red ink. The losses of both—Italy's Olivetti and France's Machines Bull—stem at least in part from U.S. competition. Now both companies have sought to program for profits by naming new presidents.

A new Olivetti board, comprised of industrialists and bankers who stepped in to refinance the company, last week picked the first man outside the Olivetti family ever to head it. He is Bruno Visentini, 54, the vice president of Italy's huge, state-owned industrial holding company, I.R.I. (TIME, March 27). Visentini's main...

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