Maserati is an Italian luxury vehicle manufacturer established on 1 December 1914, in Bologna. The Maserati tagline is "Luxury and style cast in exclusive cars", the brand's mission statement is to "Build ultra-luxury performance automobiles with timeless Italian style, accommodating bespoke interiors, effortless, signature sounding power"; the company's headquarters are now in Modena, its emblem is a trident. It has been owned by the Italian-American car giant Fiat Chrysler Automobiles and FCA's Italian predecessor Fiat S.p. A. since 1993. Maserati was associated with Ferrari S.p. A., owned by FCA until being spun off in 2015, but more it has become part of the sports car group including Alfa Romeo and Abarth. In May 2014, due to ambitious plans and product launches, Maserati sold a record of over 3,000 cars in one month; this caused them to increase production of the Ghibli models. In addition to the Ghibli and Quattroporte, Maserati offers the Maserati GranTurismo, the GranTurismo Convertible, has confirmed that it will be offering the Maserati Levante, the first Maserati SUV, in 2016, the Maserati Alfieri, a new 2+2 in 2016.
Maserati is placing a production output cap at 75,000 vehicles globally. The Maserati brothers, Bindo, Carlo and Ernesto, were all involved with automobiles from the beginning of the 20th century. Alfieri and Ernesto built 2-litre Grand Prix cars for Diatto. In 1926, Diatto suspended the production of race cars, leading to the creation of the first Maserati and the founding of the Maserati marque. One of the first Maseratis, driven by Alfieri, won the 1926 Targa Florio. Maserati began making race cars with 4, 6, 8, 16 cylinders; the trident logo of the Maserati car company is based on the Fountain of Neptune in Bologna's Piazza Maggiore. In 1920, one of the Maserati brothers, artist Mario, used this symbol in the logo at the suggestion of family friend Marquis Diego de Sterlich, it was considered appropriate for the sports car company due to fact that Neptune represents strength and vigour. Alfieri Maserati died in 1932, but three other brothers, Bindo and Ettore, kept the firm going, building cars that won races.
In 1937, the remaining Maserati brothers sold their shares in the company to the Adolfo Orsi family, who in 1940, relocated the company headquarters to their home town of Modena, where it remains to this day. The brothers continued in engineering roles with the company. Racing successes continued against the giants of German racing, Auto Union and Mercedes. In back-to-back wins in 1939 and 1940, an 8CTF won the Indianapolis 500, the only Italian manufacturer to do so; the war intervened and Maserati abandoned car making to produce components for the Italian war effort. During this time, Maserati worked in fierce competition to construct a V16 town car for Benito Mussolini before Ferry Porsche of Volkswagen built one for Adolf Hitler; this failed, the plans were scrapped. Once peace was restored, Maserati returned to making cars. Key people joined the Maserati team. Alberto Massimino, a former Fiat engineer with both Alfa Romeo and Ferrari experience, oversaw the design of all racing models for the next ten years.
With him joined engineers Giulio Alfieri, Vittorio Bellentani, Gioacchino Colombo. The focus was on the best chassis to succeed in car racing; these new projects saw the last contributions of the Maserati brothers, who after their 10-year contract with Orsi expired went on to form O. S. C. A.. This new team at Maserati worked on several projects: the 4CLT, the A6 series, the 8CLT, pivotally for the future success of the company, the A6GCS; the famous Argentinian driver Juan-Manuel Fangio raced for Maserati for a number of years in the 1950s, producing a number of stunning victories including winning the world championship in 1957 in the 250F. Other racing projects in the 1950s were the 200S, 300S, 350S, 450S, followed in 1961 by the famous Tipo 61. Maserati retired from factory racing participation because of the Guidizzolo tragedy during the 1957 Mille Miglia, though they continued to build cars for privateers. Maserati became more focused on building road-going grand tourers; the 1957 3500 GT marked a turning point in the marque's history, as its first ground-up grand tourer design and first series produced car.
Production jumped from a dozen to a few hundreds cars a year. Chief engineer Giulio Alfieri took charge of the project, turned the 3.5 L inline six from the 350S into a road-going engine. Launched with a Carrozzeria Touring 2+2 coupé aluminium body over superleggera structure, a steel-bodied short wheelbase Vignale 3500 GT Convertibile open top version followed in 1960; the 3500 GT's success, with over 2200 made, was critical to Maserati's survival in the years following withdrawal from racing. The 3500 GT provided the underpinnings for the small-volume V8-engined 5000 GT, another seminal car for Maserati. Born from the Shah of Persia's whim of owning a road car powered by the Maserati 450S racing engine, it became one of the fastest and most expensive cars of its days; the third to the thirty-fourth and last example produced were powered by Maserati's first purely road-going V8 engine design. In 1962, the 3500 GT evolved into the Sebring, bodied by Vignale and based on the Convertibile chassis.
Next came the two-seater Mistral coupé in 1963 and Spider in 1964, both six-cylinder powered and styled by Pietro Frua. In 1963, the company's first saloon arrived, the Quattroporte styled by Frua. If the 500
In economics, a free market is a system in which the prices for goods and services are determined by the open market and by consumers. In a free market, the laws and forces of supply and demand are free from any intervention by a government or other authority, from all forms of economic privilege and artificial scarcities.. Proponents of the concept of free market contrast it with a regulated market in which a government intervenes in supply and demand through various methods, such as tariffs, used to restrict trade and to protect the local economy. In an idealized free-market economy, prices for goods and services are set by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy. Scholars contrast the concept of a free market with the concept of a coordinated market in fields of study such as political economy, new institutional economics, economic sociology and political science. All of these fields emphasize the importance in existing market systems of rule-making institutions external to the simple forces of supply and demand which create space for those forces to operate to control productive output and distribution.
Although free markets are associated with capitalism within a market economy in contemporary usage and popular culture, free markets have been advocated by anarchists and some proponents of cooperatives and advocates of profit sharing. Criticism of the theoretical concept may regard systems with significant market power, inequality of bargaining power, or information asymmetry as less than free, with regulation being necessary to control those imbalances in order to allow markets to function more efficiently as well as produce more desirable social outcomes; the laissez-faire principle expresses a preference for an absence of non-market pressures on prices and wages, such as those from discriminatory government taxes, tariffs, regulations of purely private behavior, or government-granted or coercive monopolies. In The Pure Theory of Capital, Friedrich Hayek argued that the goal is the preservation of the unique information contained in the price itself; the definition of free market has been disputed and made complex by collectivist political philosophers and socialist economic ideas.
This contention arose from the divergence from classical economists such as Richard Cantillon, Adam Smith, David Ricardo and Thomas Robert Malthus and from the continental economic science developed by the Spanish scholastic and French classical economists, including Anne-Robert-Jacques Turgot, Baron de Laune, Jean-Baptiste Say and Frédéric Bastiat. During the marginal revolution, subjective value theory was rediscovered. Although laissez-faire has been associated with capitalism, there is a similair left-wing laissez-faire system called free-market anarchism known as free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism. Thus, critics of laissez-faire as understood argues that a laissez-faire system would be anti-capitalist and socialist. Various forms of socialism based on free markets have existed since the 19th century. Early notable socialist proponents of free markets include Pierre-Joseph Proudhon, Benjamin Tucker and the Ricardian socialists.
These economists believed that genuinely free markets and voluntary exchange could not exist within the exploitative conditions of capitalism. These proposals ranged from various forms of worker cooperatives operating in a free market economy, such as the mutualist system proposed by Proudhon, to state-owned enterprises operating in unregulated and open markets; these models of socialism are not to be confused with other forms of market socialism where publicly owned enterprises are coordinated by various degrees of economic planning, or where capital good prices are determined through marginal cost pricing. Advocates of free-market socialism such as Jaroslav Vanek argue that genuinely free markets are not possible under conditions of private ownership of productive property. Instead, he contends that the class differences and inequalities in income and power that result from private ownership enable the interests of the dominant class to skew the market to their favor, either in the form of monopoly and market power, or by utilizing their wealth and resources to legislate government policies that benefit their specific business interests.
Additionally, Vanek states that workers in a socialist economy based on cooperative and self-managed enterprises have stronger incentives to maximize productivity because they would receive a share of the profits in addition to receiving their fixed wage or salary. Socialists assert that free-market capitalism leads to an excessively skewed distribution of income which in turn leads to social instability; as a result, corrective measures in the form of social welfare, re-distributive taxation and administrative costs are required, but they end up being paid into workers hands who spend and help the economy to run. They claim. Thus, free-market socialism desires government regulation of markets to prevent social instability, although at the cost of taxpayer dollars; as explained above, for classical economists such as Adam Smith the term free market does not refer to a market free from government interference, but rather free from all forms of economic privilege and artificial scarcities. This implies that economic rents, i.e. profits generated from a lack of perfect competition, must be reduced or eliminated as much as possible through free competition.
Economic theory suggests the returns to l
National Socialism, more known as Nazism, is the ideology and practices associated with the Nazi Party – the National Socialist German Workers' Party – in Nazi Germany, of other far-right groups with similar aims. Nazism is a form of fascism and showed that ideology's disdain for liberal democracy and the parliamentary system, but incorporated fervent antisemitism, anti-communism, scientific racism, eugenics into its creed, its extreme nationalism came from Pan-Germanism and the Völkisch movement prominent in the German nationalism of the time, it was influenced by the Freikorps paramilitary groups that emerged after Germany's defeat in World War I, from which came the party's "cult of violence", "at the heart of the movement."Nazism subscribed to theories of racial hierarchy and Social Darwinism, identifying the Germans as a part of what the Nazis regarded as an Aryan or Nordic master race. It aimed to overcome social divisions and create a German homogeneous society based on racial purity which represented a people's community.
The Nazis aimed to unite all Germans living in German territory, as well as gain additional lands for German expansion under the doctrine of Lebensraum and exclude those who they deemed either community aliens or "inferior" races. The term "National Socialism" arose out of attempts to create a nationalist redefinition of "socialism", as an alternative to both Marxist international socialism and free market capitalism. Nazism rejected the Marxist concepts of class conflict and universal equality, opposed cosmopolitan internationalism, sought to convince all parts of the new German society to subordinate their personal interests to the "common good", accepting political interests as the main priority of economic organization; the Nazi Party's precursor, the Pan-German nationalist and antisemitic German Workers' Party, was founded on 5 January 1919. By the early 1920s the party was renamed the National Socialist German Workers' Party – to attract workers away from left-wing parties such as the Social Democrats and the Communists – and Adolf Hitler assumed control of the organization.
The National Socialist Program or "25 Points" was adopted in 1920 and called for a united Greater Germany that would deny citizenship to Jews or those of Jewish descent, while supporting land reform and the nationalization of some industries. In Mein Kampf, Hitler outlined the anti-Semitism and anti-Communism at the heart of his political philosophy, as well as his disdain for representative democracy and his belief in Germany's right to territorial expansion; the Nazi Party won the greatest share of the popular vote in the two Reichstag general elections of 1932, making them the largest party in the legislature by far, but still short of an outright majority. Because none of the parties were willing or able to put together a coalition government, in 1933 Hitler was appointed Chancellor of Germany by President Paul Von Hindenburg, through the support and connivance of traditional conservative nationalists who believed that they could control him and his party. Through the use of emergency presidential decrees by Hindenburg, a change in the Weimar Constitution which allowed the Cabinet to rule by direct decree, bypassing both Hindenburg and the Reichstag, the Nazis had soon established a one-party state.
The Sturmabteilung and the Schutzstaffel functioned as the paramilitary organizations of the Nazi Party. Using the SS for the task, Hitler purged the party's more and economically radical factions in the mid-1934 Night of the Long Knives, including the leadership of the SA. After the death of President Hindenburg, political power was concentrated in Hitler's hands and he became Germany's head of state as well as the head of the government, with the title of Führer, meaning "leader". From that point, Hitler was the dictator of Nazi Germany, known as the "Third Reich", under which Jews, political opponents and other "undesirable" elements were marginalized, imprisoned or murdered. Many millions of people were exterminated in a genocide which became known as the Holocaust during World War II, including around two-thirds of the Jewish population of Europe. Following Germany's defeat in World War II and the discovery of the full extent of the Holocaust, Nazi ideology became universally disgraced.
It is regarded as immoral and evil, with only a few fringe racist groups referred to as neo-Nazis, describing themselves as followers of National Socialism. The full name of the party was Nationalsozialistische Deutsche Arbeiterpartei for which they used the acronym NSDAP; the term "Nazi" was in use before the rise of the NSDAP as a colloquial and derogatory word for a backwards farmer or peasant, characterizing an awkward and clumsy person. In this sense, the word Nazi was a hypocorism of the German male name Ignatz – Ignatz being a common name at the time in Bavaria, the area from which the NSDAP emerged. In the 1920s, political opponents of the NSDAP in the German labour movement seized on this and – using the earlier abbreviated term "Sozi" for Sozialist as an example – shortened NSDAP's name, Nationalsozialistische, to the dismissive "Nazi", in order to associate them with the derogatory use of the term mentioned above; the first use of the term "Nazi" by the National Socialists occurred in 1926 in a publication by Joseph Goebbels called Der Nazi-Sozi.
In Goebbels' pamphlet, the word "Nazi" only appears when linked with the word "Sozi" as an abbreviation of
Libera Università Internazionale degli Studi Sociali Guido Carli
The Libera Università Internazionale degli Studi Sociali "Guido Carli", known by the acronym "Luiss" or "Luiss Guido Carli", is an independent, private university in Rome, founded in 1974 by a group of entrepreneurs led by Umberto Agnelli, brother of Gianni Agnelli. Luiss provides undergraduate and post-graduate education, in addition to a range of Double Degree programs, in the fields of finance, management and political science, it is located near the historical center of the city, between the neighborhoods of Parioli and Trieste. The university is supported by the Italian confederation of industries. In 1974 a group of entrepreneurs led by Umberto Agnelli, launched a project investing economic and intellectual resources in the establishment of a university; this university would be designed to offer undergraduate and post-graduate education, geared towards the needs of the market. Luiss came out of a pre-existing university, redesigned and renamed Luiss in 1977. Other public and private industrial groups, as well as some banks, joined the founders.
The group of businessmen and bankers who had promoted and financed the birth of the project, as well as the transformation of the organization of the old Pro Deo University, into the more modern ones of Luiss University, as it is today, was established in 1985 in the current “Friends of Luiss”. This has had since its inception the Senator Umberto Agnelli as its president, succeeded by Francesco Gaetano Caltagirone, plays a vital role in the collection and distribution of economic resources to be allocated to provide scholarships for students who have enormous potential but a lack of economic resources, to ensure that the most brilliant Luiss graduates have the possibility of earning PhDs to dedicate themselves to scientific research with a view to an academic career or advanced professional activities. Guido Carli, former Governor of the Banca d'Italia, President of Confindustria and Senator was President of Luiss from 1978 until his death in 1993, his work was so esteemed that in 1994 the university changed its name to Luiss Guido Carli.
The university had only the faculties of Economics and Political Science, to, added the faculty of Law in 1982. In 2011 an academic reorganization took place, which resulted in today's four Departments: Law and Management, Economics and Finance, Political Science. Today the University offers many courses taught in English, such as'Economics&Business' or'Politics and Economics'. In 2013, in the Censis annual university ranking done in conjunction with the newspaper la Repubblica, Luiss Guido Carli ranked first for Political Science and second for Law and Economics among private universities. In February 2014, the Confindustria-supported university took first place at the Rotman International Trading Competition. With regard to research output, according to the final report on research quality for 2004/2010 from ANVUR, the university ranked second among small universities, tying with the Scuola Normale Superiore di Pisa and behind the Sant'Anna School of Advanced Studies. In 2015, Luiss ranked second in the Il Sole 24 Ore annual national ranking.
In 2016, Luiss ranked first in the Il Sole 24 Ore annual national ranking. To attend a degree program at one of the four Departments at Luiss, candidates must pass an admission test; each year a maximum number of places available is set and the admission test is done in two different sessions, after which a ranking by session is drafted, where each student has a score made up of their final grade in secondary school and their test score. Admission is based on the available slots and where selected students choose not to attend, other students are selected from the waiting list; the admission test lasts 90 minutes and is made up of 100 multiple-choice questions measuring general culture and aptitude. The subjects on the test are: reading comprehension. On average, candidates admitted to Luiss are high achievers: 68.1% of students have a final secondary school average of over 90/100, compared to the national average of 24.6%. To be admitted to a master's degree, Luiss graduates with degree grades of 100 or above can be admitted to degree programs without having to take an admission test, until all the available slots are taken.
Graduates from other universities must take a written test to apply for admission. The University is divided into the following four departments: The academic organization provides a single five-year cycle for the combined bachelor's and master's degree program in Law; the Department of Business and Management offers the following degree programs: Bachelor’s degree in Economics and Management. The Department of Economics and Finance offers the following degree programs: Bachelor’s de
2000 Formula One World Championship
The 2000 FIA Formula One World Championship was the 54th season of FIA Formula One motor racing. It ended on 22 October after seventeen races. Michael Schumacher became Ferrari's first World Drivers' Champion for 21 years having clinched the Drivers' title at the penultimate race of the season. Ferrari defended its Constructors' title; this season marked the first for future world champion Jenson Button. The season was, for the third consecutive year, a close battle between McLaren. Schumacher won the first three races and dominated the first part of the season as McLaren had reliability issues. Misfortune struck Schumacher, who retired from three consecutive races with both Mika Häkkinen and David Coulthard scoring big. Häkkinen surged to win two races in a row, leaving him six points clear of Schumacher who faced a fifth consecutive season at Ferrari without titles since 1996. Schumacher fought back winning the final four races of the season in convincing fashion, recording pole position on all those occasions.
The title was sealed in Japan on 8 October, after a classic straight fight between Schumacher and Häkkinen, with Schumacher passing Häkkinen at the final pit stop and holding out in front. The following teams and drivers competed in the 2000 FIA Formula One World Championship. † All engines were V10 configuration. After being bought by Ford, the Stewart team was renamed Jaguar Racing, with the team's engines rebadged as Cosworths; the Ford V10s used by Minardi were rebadged as Fondmetal engines, in deference to Gabriele Rumi's financial input to the team, the car's main colour was changed from white to a fluorescent yellow. The Ford name, ever-present on the Formula One grid since the debut of the Ford Cosworth DFV in 1967, was therefore absent for the 2000 season, although it would make a brief return in 2003 and 2004. Williams switched to BMW engines; the contract, signed back in 1998, marked BMW's return to Formula One after over a decade of absence. BAR, who had used Supertecs in 1999, signed a deal with Honda to use their engines for the 2000 season.
Honda's previous stint as an engine supplier had ended in 1992, when their successful collaboration with McLaren came to a conclusion. Following the departure of engine designer Brian Hart —, responsible for the team's Hart and Arrows engines — the Arrows team switched to Supertec engines for 2000. Rubens Barrichello, who scored three podiums for Stewart in 1999, signed for Ferrari, replacing Eddie Irvine; the previous season's runner-up joined the newly established Jaguar team, in what was a straight swap with Barrichello. 1996 champion. Jarno Trulli moved from Prost to Jordan. Prost's other driver Olivier Panis left the team to become the test driver for McLaren; the two seats at the French team were taken by Jean Alesi, who moved from Sauber, 1999 International Formula 3000 champion Nick Heidfeld, a test driver at McLaren. Mika Salo signed for Sauber after short spells as an injury replacement for Ricardo Zonta for three races and Michael Schumacher for six races in 1999. Jenson Button made his debut for Williams after beating the team's test driver Bruno Junqueira in a'shoot-out' test.
Button replaced Alex Zanardi at the team. The Italian returned to motor racing in 2001. Toranosuke Takagi left Formula One to drive for Nakajima Racing in Formula Nippon, where he won the 2000 title, his place at Arrows was taken by Jos Verstappen, whose previous Formula One race had been the 1998 Japanese Grand Prix, when he was driving for Stewart. Gastón Mazzacane was promoted to a Minardi race drive for 2000, after spending the previous season as their test driver; the Argentine driver took the place of Luca Badoer, unable to find a race seat, so focused on his role as test driver for Ferrari. Stéphane Sarrazin, who had driven for Minardi at the 1999 Brazilian Grand Prix, became the test driver for Prost. Mid-season changesJaguar test driver Luciano Burti made his racing debut at Austria, replacing the ill Eddie Irvine. On 7 September, the FIA announced using cooled fuel during a Grand Prix would be banned "with immediate effect"; the main changes among the top teams were that Eddie Irvine was replaced by Rubens Barrichello at Ferrari and at Jordan, former world champion Damon Hill had retired, was replaced by Jarno Trulli.
The first race of the season was in Australia, the top five placings were similar to the previous year. The McLaren pair of world champion Mika Häkkinen and David Coulthard started 1–2 ahead of the Ferrari pair of Michael Schumacher and Rubens Barrichello; the Jordans of Heinz-Harald Frentzen and Jarno Trulli were fifth and sixth. During the race, the McLarens kept their positions at the start, while Barrichello lost out to Frentzen; the McLarens pulled away from Michael Schumacher. Häkkinen's engine blew up nine laps giving the lead to Schumacher. Neither Jordan lasted the race, Frentzen retiring with a hydraulic failure from second, Trulli with an engine failure from fourth. All this gave Ferrari an easy 1–2 with Schumacher winning from Barrichello, with Ralf Schumacher, driving for Williams completing the podium. For the second round in Brazil, the top four were the same again in qualifying, with Häkkinen and Coulthard starting 1–2 ahead of Michael Schumacher and Barrichello. Schumacher, on a two-stop strategy took the lead within two laps, built up a 20-second gap, pitted.
He rejoined behind Häkkinen. Coulthard was suffering from gearbox problems, so was no
The America's Cup, affectionately known as the Auld Mug, is a trophy awarded to the winner of the America's Cup match races between two sailing yachts. One yacht, known as the defender, represents the yacht club that holds the America's Cup and the second yacht, known as the challenger, represents the yacht club, challenging for the cup; the timing of each match is determined by an agreement between the challenger. The America's Cup is the oldest international sporting trophy, it will next be raced for in the southern summer, in the early part of 2021. The cup was awarded in 1851 by the Royal Yacht Squadron for a race around the Isle of Wight in the United Kingdom, won by the schooner America. Known as the'R. Y. S. £100 Cup', the trophy was renamed the'America's Cup' after the yacht and was donated to the New York Yacht Club under the terms of the Deed of Gift, which made the cup available for perpetual international competition. Any yacht club that meets the requirements specified in the deed of gift has the right to challenge the yacht club that holds the cup.
If the challenging club wins the match, it gains stewardship of the cup. The history and prestige associated with the America's Cup attracts not only the world's top sailors and yacht designers but the involvement of wealthy entrepreneurs and sponsors, it is a test not only of sailing skill and boat and sail design, but of fundraising and management skills. The trophy was held by the NYYC from 1857 until 1983; the NYYC defended the trophy twenty-four times in a row before being defeated by the Royal Perth Yacht Club, represented by the yacht Australia II. The NYYC's reign was the longest winning streak in the history of all sports. From the first defence of the cup in 1870 through the twentieth defence in 1967, there was always only one challenger. In 1970, for the first time, there were multiple challengers, so the NYYC agreed that the challengers could run a selection series with the winner becoming the official challenger and competing against the defender in the America's Cup match. Since 1983, Louis Vuitton has sponsored the Louis Vuitton Cup as a prize for the winner of the challenger selection series.
Early matches for the cup were raced between yachts 65–90 ft on the waterline owned by wealthy sportsmen. This culminated with the J-Class regattas of the 1930s. After World War II and twenty years without a challenge, the NYYC made changes to the deed of gift to allow smaller, less expensive 12-metre class yachts to compete, it was replaced in 1990 by the International America’s Cup Class, used until 2007. After a long legal battle, the 2010 America's Cup was raced in 90 ft waterline multihull yachts in a best of three "deed of gift" match in Valencia, Spain; the victorious Golden Gate Yacht Club elected to race the 2013 America's Cup in AC72 foiling, wing-sail catamarans. Golden Gate Yacht Club defended the cup; the 35th America's Cup match was announced to be sailed in 50 ft foiling catamarans. The history of the America's Cup has included legal battles and disputes over rule changes including most over the rule changes for the 2017 America's Cup; the America's Cup is held by the Royal New Zealand Yacht Squadron, who will stage the 36th defence of the Cup in 2021.
The Cup is an ornate sterling silver bottomless ewer crafted in 1848 by Garrard & Co. Henry William Paget, 1st Marquess of Anglesey bought one and donated it for the Royal Yacht Squadron's 1851 Annual Regatta around the Isle of Wight, it was known as the "R. Y. S. £100 Cup", standing for a cup of a hundred GB Pounds or "sovereigns" in value. The cup was subsequently mistakenly engraved as the "100 Guinea Cup" by the America syndicate, but was referred to as the "Queen's Cup". Today, the trophy is known as the "America's Cup" after the 1851 winning yacht, is affectionately called the "Auld Mug" by the sailing community, it is inscribed with names of the yachts that competed for it, has been modified twice by adding matching bases to accommodate more names. In 1851 Commodore John Cox Stevens, a charter member of the fledgling New York Yacht Club, formed a six-person syndicate to build a yacht with intention of taking her to England and making some money competing in yachting regattas and match races.
The syndicate contracted with pilot boat designer George Steers for a 101 ft schooner, christened America and launched on 3 May 1851. On 22 August 1851, America raced against 15 yachts of the Royal Yacht Squadron in the Club's annual 53-nautical-mile regatta around the Isle of Wight. America won. Apocryphally, Queen Victoria, watching at the finish line, was reported to have asked, second, the famous answer being: "Ah, Your Majesty, there is no second."The surviving members of the America syndicate donated the cup via the Deed of Gift of the America's Cup to the NYYC on 8 July 1857, specifying that it be held in trust as a perpetual challenge trophy to promote friendly competition among nations. No challenge to race for the Cup was issued until British railway tycoon James Lloyd Ashbury's topsail schooner Cambria beat the Yankee schooner Sappho in the Solent in 1868; this success encouraged the Royal Thames Yacht Club in believing that the cup could be brought back home, placed the first challenge in 1870.
Ashbury entered Cambria in the NYYC Queen's Cup race in New York City on 8 August against a fleet of seventeen
Alitalia – Società Aerea Italiana, operating as Alitalia, is the flag carrier of Italy. The company has its head office in Fiumicino, Italy, its main hub is Leonardo da Vinci-Fiumicino Airport, a secondary is Linate Airport, Milan. Other focus airports are Catania-Fontanarossa Airport, Milan-Malpensa Airport, Palermo Airport and Naples Airport. In 2018, it was the twelfth-largest airline in Europe; the name "Alitalia" is an Italian portmanteau of the words ali, Italia. On 2 May 2017, the airline went into administration after the Italian government formally approved the move. In 2008, a group of investors formed the "Compagnia Aerea Italiana" consortium to buy the bankrupt Alitalia – Linee Aeree Italiane and to merge these with Air One, another bankrupt Italian carrier. On 30 October 2008, CAI offered €1 billion to acquire parts of the bankrupt airline, amidst pilots' and flight crew members' opposition to labour agreements. On 19 November 2008, CAI's offer was accepted by the bankruptcy administrator of Alitalia with the permission of the Italian government, at the time the majority shareholder of the bankrupt airline.
Alitalia's profitable assets were transferred to CAI on 12 December 2008 after CAI paid € 1.05 billion, consisting of €427 million in cash and the assumption of responsibility for €625 million in Alitalia debt. A USA diplomatic cable disclosed in 2011 summarised the operation as follows: "Under the guise of a rather quaint desire to maintain the Italian-ness of the company, a group of wealthy Berlusconi cronies was enticed into taking over the healthy portions of Alitalia, leaving its debts to the Italian taxpayers; the rules of bankruptcy were changed in the middle of the game to meet the government's needs. Berlusconi pulled this one off, but his involvement cost the Italian taxpayers a lot of money."On 13 January 2009, the "new" Alitalia launched operations. The owners of Compagnia Aerea Italiana sold 25% of the company's shares to Air France-KLM for €322 million. Air France-KLM obtained an option, subject to certain conditions, to purchase additional shares after 2013; the "new" Alitalia has not claimed the old Alitalia's history as its own, as can be seen in official documents regarding the new "Alitalia Group".
Instead, they stressed that they were a different company: they chose not to recognize benefits such as discounted tickets to former Alitalia-LAI workers and refused to honour passengers' claims against the old Alitalia. The new Alitalia does not own many of its operating airplanes; every plane that CAI had acquired from the old Alitalia was sold or decommissioned. Alitalia-CAI airplanes are leased from Aircraft Purchase Fleet, an Irish company owned by Carlo Toto, the former owner of the bankrupt Air One, merged in 2008 into Alitalia-CAI when the new company was founded. In January 2010, Alitalia celebrated its first anniversary since the relaunch, it carried 22 million passengers in its first year of operations. In 2011, 25 million passengers were carried. On 1 February 2010, it was announced; this was the first strike action for Alitalia since the relaunch. On 11 February 2010, Alitalia announced that, starting from March 2010, it would use Air One as a low-fare airline, with operations based at Milan Malpensa Airport, focused on short-haul leisure routes.
It was predicted that the subsidiary would handle 2.4 million passengers by 2012. In 2011, 1.4 million passengers were carried by the subsidiary. Although operations were to be concentrated at Milan Malpensa, Air One operated from Milan-Malpensa, Venice-Marco Polo and Catania as of January 2013. On 12 February 2011, information was released about a possible merger between Alitalia and Meridiana Fly, another Italian carrier; the merger did not occur. On 23 February 2011, Alitalia and ENAC announced the introduction of a safety card written in braille and characters in 3-D relief, the first of its kind. On 25 January 2012, Alitalia signed memoranda of understanding with two other Italian airlines, Blue Panorama and Wind Jet, said to have started processes "aimed at achieving integration" with them. By the end of July 2012, the Italian antitrust authority allowed Alitalia to acquire Wind Jet, but in return Alitalia would have to cede slots on domestic routes. Faced with this, Alitalia cancelled the plans a few days in August 2012.
On 3 May 2013, in a sting codenamed "Operation Clean Holds", police made 49 arrests at Rome's Fiumicino airport, with another 37 in Italian airports including Bari, Milan Linate, Naples and Verona. All were Alitalia employees caught on camera and most were charged with aggravated theft and damage. In late 2013, facing bankruptcy, the loss of a major fuel supplier, a possible grounding by Italy's civil aviation authority, the airline announced a €500 million rescue package which included a €75 million investment by the Italian state-owned postal operator. In June 2014, the Abu Dhabi-based UAE national airline Etihad Airways announced it was taking a 49% stake in Alitalia. On 30 September 2014, Alitalia's budget subsidiary Air One ceased flight operations. On 1 January 2015, Alitalia-CAI formally passed its operations to Alitalia-SAI, a new entity owned 49% by Abu Dhabi-based Etihad Airways and 51% owned by the former Italian stakeholders of Alitalia-CAI. In May 2015, Alitalia announced it would terminate its partnership with Air France-KLM in 2017, stating that there were no longer enough advantages from the joint venture to keep it up.
In February 2016, Alitalia announced that in late March 2016 it would cancel mos