This happened in our last game. The Blue company's turn is about to happen. The mafioso player pays to take control of blue.The Mafioso player does not inherit any power from the active CEO's character. Also, since the CEO does not get to "take a turn" with his company, he does not get to use the Nephew's ability either. Sorry about the confusion.
However, the CEO of Blue has the nephew.
We read the rules and decided that the mafia action would take place, and the nephew power would occur. Were we wrong?
By the way, we really do recommend using the non-italicized characters first. Even though he can be really fun, the Nephew can be tricky to use (and defend against) in your first couple of games. Cheers.