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Today is a great day for news. In fact the journalists are on strike. The megaphones of the economic groups and of the parties repose for a day. You will have noticed, there's a sense of peace around. It's like there's been a sudden interruption to the annoying background noise.

Counterinformation is silent. A day like this, merits institutionalization. The sixth of October must become the day of free information. To be celebrated each year.
The journalists know and we know that the journalists are not free. They get their salary from the editors. The editors obey the shareholders and those who advertise. There can be overlap between these two categories. The journalists have got to think of the upkeep of their families, their editors and their advertisers. This is why their work must be interpreted.

Today we'll look at Paola Pica, a journalist with the Economics page of il Corriere della Sera. He's done an analysis of the reorganization of the Telecom group.
Title: Il Riassetto. La Pirelli stacca il maxi assegno. E sale all'80% di Olimpia. {The Reorganization. Pirelli writes a massive cheque. And gets to 80% of Olimpia.}
Date: Wednesday 4 October
Newspaper: il Corriere della Sera

"Marco Tronchetti Provera is leaving Olimpia and the top levels leading to Telecom with the aim of giving the group a suitable balance."
can be read as:
"Marco Tronchetti Provera having left Telecom as president risks leaving it as a shareholder as well and he has to give a suitable balance to his set of Chinese boxes. The Chinese boxes, not the Telecom group."

"The first step, definitely the most weighty, was taken today by the Pirelli president when he fulfilled an agreement and wrote a cheque for 1,170,000,000 to settle with the two banks, Intesa and Unicredit, that had been Olimpia shareholders until now."
can be read as:
"Intesa and Unicredit have let Tronchetti go and they have insisted on sticking to the agreements with payment for Telecom shares at 2001 values, which are more or less double the current ones."

"The exit of the banks will have an impact on the debt position of Pirelli of 1,040,000,000 … to make up for this increase in the debt the Bicocca has already set in motion some extraordinary operations including the release of 39% of Pirelli Tyre for 740,000,000 and the withdrawal from participation in other companies, including Capitalia…"
can be read as:
"Now that there's no possibility of selling Tim that would have made it possible to sort out the debts, Pirelli is obliged to sell, sell, sell. Just as Telecom has done recently. The strategy of the junk merchant."

Pirelli shares are safe thanks to the maxi-cheque and the ownership of 80% of Olimpia's debts. If misleading advertising is a crime, then misleading news is much more of a crime. It should be penalized. And the damages should be paid by the companies that are the shareholders of the newspapers, the true actors in the crime.

PS: The shareaction initiative is continuing. Click here and delegate.

Posted by Beppe Grillo at 03:32 AM in | Comments (5) | Comments in Italian (translated) Post a comment | Sign up | Send to a friend | | GrilloNews | listen_it_it.gifListen | TrackBack (0) |
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Mr. Grillo:
Being short of time I had to stop reading your article at 'The finance law changes nothing in the country'.

In particular, open gates. Microsoft will continue to thrive on this poor country.

Learn from Extremadura how to save money (money from tax payers), while getting better virtual stuff.

francesco pietra

Posted by: Francesco Pietra | October 9, 2006 12:01 AM

A good one, Beppe! I hadn't been reading your blog for a while but seems that you're still as awake as always.

Freedomhouse's Press Freedom index actually witnessed Italy falling behind Mongolia in these terms -you might want to check it out, so I drop the url below.

Nonetheless, I reckon that this weekend's worst news came from Russia. Anna Politkovskaya, a Russian investigative journalist, was shot to death. In her death, humanity suffered a loss of very brave person.

Posted by: Aapo Markkanen | October 8, 2006 10:26 PM

Mi scusi se il mio commento non è inerente al post, ma è incredibile; quando comincio a verede i suoi spettacoli scoppio in grandi risate che poi si trasformano in tristi riflessioni. Non ho quasi più voglia di ascoltarla, perchè in realtà mi fa sentire così ignorante e soprattutto così poco coraggiosa.
Non so cosa l'abbia spinto a intraprendere questo percorso, sempre più provocatorio e diretto. Madre natura sicuramente l'avrà dotato di furbizia e non solo d'intelligenza, perchè altrimenti l'avrebbero già schiacciato. I miei più sinceri complimenti!

Posted by: Cinzia | October 8, 2006 05:56 PM

Everyday is a great day for news. Yesterday I found out, I am the Beatles. I didn't know til then.

Posted by: 500beine | October 8, 2006 09:35 AM


...coooome tell mommy who's been naughty to you today...

Posted by: Bernarda Ciufoli Rossi | October 8, 2006 09:04 AM

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