The news of the arrest for international corruption of Finmeccanica’s CEO, Giuseppe Orsi, didn’t surprise me. Just as I wasn’t surprised by the collapse of Monte Paschi of Siena with a loss of 21 billion in value (a tiny hole ...) or to hear that ENI’s chief executive, Paolo Scaroni (*), is officially under investigation for corruption for bribes amounting to 200 million euro for contracts in Algeria. Fee-fi-fo-fum, I smell the blood of the party chums motivated by an atavistic and unquenchable thirst, that after occupying every space, and every armchair, are now denuding the companies managed by the Foundations in which they are present, as in the case of the Siena bank or they are carving up the companies in which the Treasury has shareholdings. Finmeccanica is the second Italian manufacturing group after Fiat. It has about 70 thousand employees and annual revenues of 17 billion and the Treasury has 32.4% of the shares. People have been appointed to Finmeccanica, (that is fundamental to the economic life of the country), not on the basis of merit, but as party nominees. "Every year, Lorenzo Borgogni, the manager for institutional affairs, went to the chief’s office and taking hold of the chart he opened out the organigram and discussed which names were to be inserted where. Rather than a discussion, as Borgogni explained to the prosecuting magistrate, it was the reception of “political orders". In this activity of parcelling out positions, there was an alternation of Ministers of the left of the Right, from the Lega and from the Centre. Borgogni talked about this with the prosecutors in their Rome office on 13 December 2011 and on 20 December 2011 Officially the people making up the Board of Directors are appointed by the Treasury, but in reality “they are chosen on the basis of political mediation inside the elements making up the governing majority". (**)
Rigor Montis, like a parrot on his perch, said this morning, after Orsi’s arrest " There’s a problem of governance that we will tackle." In more than a year when he has had an absolute majority in the government, he has obviously not found the time to do this. Let him get out from under our feet and go and take his dog for a walk in the park. He’s already done enough damage. Yes. Sure. There’s a big problem of governance, and thus of control, but who should have been watching over this, unless it’s the Treasury and thus the Government? Here rather than a problem of governance, there’s a problem of honesty of the so called managers and of who placed them there (in exchange for what?). There’s an enormous problem of the lack of a sense of the State. The country is sliding down the hillside. On 24 and 25 February let’s send them all home.
(*) In the 1990s, as Techint’s CEO, Scaroni made a plea bargain and was sentenced to one year and four months for corruption in connection with the kickbacks to get ENEL contracts.
(**) source: Espresso, 45/2011
Posted by Beppe Grillo at 04:36 PM in Economics
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