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Electronica Fabrizzi was a company headquartered in the outskirts of Rome, Italy.[1] It was secretly owned by criminal tycoon Justin Hammer, who used it as a cover company. The techno-savvy saboteur Ghost chose Fabrizzi as one of the companies he would destroy, by blowing up its assets - at that point, Ghost had already bankrupted two other companies since the moment his arch-enemy Iron Man had left him for dead.[2]

While the Italian media knew that the company was besieged,[2] Fabrizzi managed to keep his undermining problem a secret to other countries, and it called the attention of Hammer's rival, American industrialist Anthony Stark, owner of Stark Enterprises and secretly Iron Man himself. Stark made a proposal to buy Fabrizzi and sent his lawyer Felix Alvarez to deal with the details. Alvarez noticed that the owners of Fabrizzi were eager to sell and agreed to the first, underpriced offer. Suspicious, Alvarez raised his doubts to Stark.[1] Agreeing with Alvarez's judgement, Stark decided to investigate Fabrizzi in a greater detail.[2]

Meanwhile, as the Ghost was still attacking Fabrizzi and startling common security guards like Aldo,[1] Hammer sent a team of three super-powered mercenaries —Blacklash, Blizzard and Boomerang— to fight the Ghost, giving them a hand-held scanner to pinpoint his position. Even then, the Ghost escaped.[2]

Stark's research involved asking his computer expert Abraham Zimmer to find dirty dealings in Fabrizzi, and travelling to Rome with his friend and pilot James Rhodes to investigate personally. Fabrizzi was so important that Stark's visit to the headquarters was announced in the news. Zimmer discovered that Fabrizzi was a cover corporation, but not the owner. However, Hammer decided it was time to reveal himself, counting that Stark would not object joining forces against a common enemy. Hammer met with Stark in classy Ristorante Laytonia, revealed that the Ghost was attacking his Fabrizzi assets, and tried to hire Iron Man for protection. In exchange for Iron Man's services, Stark asked that Hammer stopped hiring or contacting Blizzard, who was still young and had a chance to redeem.[2]

Iron Man's first encounter with the Ghost was inconclusive, with the Ghost escaping.[2] Hammer installed special sensors to analyze the Ghost's powers during his attacks, and find a way to counteract them. Seeing that Iron Man was not enough to stop the Ghost, Hammer sent his trio of thugs to reinforce his ally - but Hammer ordered them to help Ghost if Iron Man was winning, because Hammer wanted both Ghost and Iron Man dead. Rhodes' help gave Iron Man a chance to recover. However, the Ghost had a chance to activate his bombs and blow up Fabrizzi. Unable to save the building, Iron Man had to choose between saving the lives of his allies and enemies or chasing the Ghost, and he decided the former.[3]

While Fabrizzi was destroyed, Iron Man manipulated Blizzard so that the merc stopped trusting Hammer. Hammer, in turn, developed an alloy that the Ghost could not walk through, which served him for protection.[3]

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