ANDEAN ANGST: Trade ministers from three Andean countries made another plea to administration officials and lawmakers Wednesday to renew and enhance a trade bill that expired last year. Ministers from Peru, Colombia and Ecuador held meetings on Capitol Hill and planned to later meet with U.S. Trade Representative Robert Zoellick to push for passage of a divisive trade package that contains trade benefits for Andean countries before Congress adjourns next month. However, Senate Finance Committee Chairman Max Baucus (D., Mont.) has stated that the bill, which is now before House and Senate negotiators, won’t be finished before the August recess. There are also stark differences between how the GOP-led House and the Democratic-controlled Senate trade packages treat the Andean apparel breaks, and benefits for unemployed workers and negotiations are expected to be difficult. The package also includes the presidential trade promotion authority measure.
This story first appeared in the July 19, 2002 issue of WWD. Subscribe Today.
TIME’S RUNNING OUT: Fila’s creditor banks are losing patience with the troubled sportswear maker. The banks are preparing a letter to Fila’s majority shareholder, Holding di Partecipazioni Industriali, demanding the $322.30 million (converted from euros at current exchange rates) Fila owes them, a source close to the banks said. Meanwhile, Italian press reports say Citibank wants to proceed with legal action. HdP, which is trying to sell off Fila to U.S. investment funds Continental and Golden Gate, said it has no news regarding the sale of Fila or its relationship with the banks involved in the transaction. Citibank, Unicredito Italiano, IntesaBCI and San Paolo IMI declined to comment. Banca Nazionle del Lavoro, Banca Monte dei Paschi di Siena and Capitalia did not return calls seeking comment.