Captains Courageous

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I've decided to be a Captain Courageous, one who if offered a big state enterprise by the Head of the Government, buys it using a loan from the banks.
The debt is then off-loaded into the company and later on, the company is sold, money is gained, namely the added value.

I've got courage and I want to ask this Government to sell me its share in ENI and I'm also asking Banca Intesa, Unicredit and San Paolo IMI to lend me the money to do this.

They can’t refuse.
Everyone’s doing it.
The Captains Courageous have done it with the sale of Telecom Italia, Tronchetti (the little log) has done it with the re-sale of Telecom Italia.
Why not me?

Italy is the land of navigators, saints and other things that I forget, but also of capitalists without capital as written in Newsweek.

Capitalists without any money who buy companies loading them with debts, then to recover from the indebtedness, make no investments, thinking only of the spot value of the shares in the market, sell the company piece-meal to get the results, when they have gained enough, they hand over what’s left.

OK, I believe that I can be a captain courageous, no problem.
The only thing I need now is a “dalemino” (hint: little D'Alema).

Posted by Beppe Grillo at 07:55 PM in | Comments (2) | Comments in Italian (translated) Post a comment | Sign up | Send to a friend | | GrilloNews | listen_it_it.gifListen | TrackBack (0) |
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I answer spontaneuosly and I think that depends upon the capitalism system which was chosen in Italy long time ago. Our republican system is based on loans. As far as I concern BOT and others similar tools are the proove. How many italians like buying BOT's? So, if a Democratic System is based on loans why not single individuals? Normally a bank provides with money when is demonstraed an interesting NPV (Net Present Value) of the investment presented. I should say, even though I don't support our Prime Ministre's actions, that the investment proposed by Fininvest (to repay its loan) was and is more interesting than that one proposed by Dalemino.....for its boat!!!

Posted by: Stefano Ferri | January 14, 2006 01:36 PM

Dear Mr. Grillo
Mr Berlusconi, too,has received a lot of money from the italians banks during the period from 1985 to 1994.
At 31/03/1994 the quarterly Banca D´Italia´s report ( Centrale dei Rischi) highlichted 4.800 billion of Lira ( 2.4 billion €)of granted loans to Fininvest (the mother of Mediaset), utilized for 4.980 billion Lira. I see personally this document because I was working in an Italian bank and I had the possibility to "explore" the consolidated balance -sheet of Fininvest with the conclusion that a so big amount of loans was very excessive and out of the normal banking-rules (political influence or "name lending?)
The suddently change in the financial situation of the new entreprise Mediaset was a miracle or intervention of a big Institution?.
I am waiting the solution of this enigma.

Posted by: eugenio gioanola | January 12, 2006 09:53 PM

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