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In 1929 Enzo Ferrari created his company Scuderia Ferrari in Italy with intentions to invent race cars and sponsor amateur drivers - it would be more the fifteen years before Ferrari would create their own street car in 1946. Scuderia is an Italian word and means "stable", but Scuderia Ferrari is sometime also translated as Team Ferrari.
In 1961 Enzo fired many of his upper management due to a disagreement between him and his sales manager Girolam Gardini. This was considered a massive loss for the company considering some of the employees that had been let go were Carlo Chiti, the chief engineer, Giotto Bizzarrini, the chief of the experimental sports car development, and Romolo Tavoni, manager for Scuderia Ferrari. The situation got worse when the ex-employees started their own automobile company called Automobili Turismo e Sport (ATS).
Enzo Ferrari brought on Mauro Forghieri and Sergio Scaglietti to finish the projects that the ex-employees left behind. The 250 GTO model was the biggest job to finish. This new 250 GTO model was to compete with the Jaguar E-type. They finished the 250 GTO model in time to race in the Sebring race and place first in class with driver Phil Hill. From there on the 250 GTO model continued to win races and has become one of the best known race cars of all time.
In the 1980s Ferrari began to use fuel injection in the street cars, the Ferraris became know as rather fickle vehicles. Even though people consider them unreliable, Ferrari would still attract large groups of dedicated fans that viewed the unreliability as "distinguishing" rather than an issue. Currently, FIAT controls 56 percent of the Ferrari stocks. All the other stocks are owned by Enzo's con Piero Ferrari, the Lehman Brothers, Mediobanca, and Commerzbank.
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