the Tipo 33SC12 won the World Championship for Sports Cars in 1977. As Alfa Romeo was a state-controlled company, they were often subject to political pressure. To help industrialize Italy's underdeveloped south, Alfa Romeo's new compact car was to be built at a new factory at Pomigliano d'Arco in Campania. Even the car's name, Alfa Sud (Alfa South), reflected where it was built. 18 January 1968, saw a new company named "Industria Napoletana Costruzioni Autoveicoli Alfa Romeo-Alfasud S.p.A." being formed, 90% of which belonged to Alfa Romeo and 10% to Government controlled holding company Finmeccanica. This plant was built in the wake of France's 1968 protests and Italy's Hot Autumn and was never "properly started." The employees had mainly construction backgrounds and were not trained for factory work, while industrial relations were troublesome throughout. Absenteeism rates in the Pomigliano factory ran at 16.5 percent through the 1970s, reaching as high as 28 percent. By the 1970s, Alfa Romeo was again in financial trouble, with the company running at about sixty percent of capacity in 1980. Since Alfa Romeo was controlled by the Italian government owned Istituto per la Ricostruzione Industriale (IRI), a deal was made where about a quarter of worker's salaries were paid through state unemployment agencies to allow Alfa's plants to idle for two weeks every two months. An aging product lineup and very low productivity combined with near-permanent industrial unrest and Italy's high inflation rates kept Alfa Romeo firmly in the red. Other creative measures were attempted to shore up Alfa, including an ultimately unsuccessful joint venture with Nissan endorsed by Alfa's then-president, Ettore Massacesi, and Prime Minister Francesco Cossiga. By 1986, IRI was suffering heavy losses — with Alfa Romeo having not been profitable for the last 13 years — and IRI president Romano Prodi put Alfa Romeo up for sale. Finmeccanica, the mechanical holdings arm of IRI and its predecessors owned Alfa Romeo since 1932. Prodi first approached fellow Italian manufacturer Fiat, which offered to start a joint venture with Alfa. Fiat takeover Fiat withdrew its plan for a joint venture with Alfa Romeo when Ford put in an offer to acquire part of Alfa Romeo and restructure the company, while increasing its stake over time. However, Fiat chose to put in a bid to acquire the entirety of Alfa Romeo and offer job guarantees to Italian workers, an offer that Ford was unwilling to