Football and Bills of Exchange
Photo: 1800 Florentine Bill of Exchange
Inter-Milan is owned by Moratti and Tronchetti and Tronchetti is everywhere in the newspapers explaining that Broadband is the future of Italy when it’s already present in other countries, and he’s also in the Universities to infect the students with his words.
Well Inter Milan has had a flash of genius.
It has launched a “high-tech finance operation”.
Let’s look at the facts.
Inter-Milan closed its accounts in the red by 118 million Euro. I imagine Moratti, Tronchetti, Buora and Facchetti closed in a room asking themselves: “and now what do we do?”
It’s easy, with a bit of financial creativity:
• You sell the black and blue logo of Inter-Milan to a Bank (Banca Italease) and lease it back.
• In exchange Italease gives 160 million Euro to Inter-Milan
• Inter-Milan agrees to buy back the logo by paying for it in 10 comfortable payments as well as the commission. It pays the 20% straight away to Italease, equal to 32 million.
• 160 million income, 32 million Euro in expenditure and the red of last year has disappeared.
Well done Moratti, Tronchetti. You have opened the way to a new Italian miracle based on Bills of Exchange.
I’m publishing this letter sent to me by Massimo Moratti. I thank him for it.
“Dear Beppe,
In your Blog dated 11/11/05 I found an item regarding myself, Tronchetti and Inter in general, in relation to a leasing operation with the Italease Bank. Please allow me to reply personally to confirm that we have looked into this possibility with the Bank that you mentioned, but that we haven’t arrived at any conclusion. As concerns the losses on last year’s balance sheet, they have already been sorted out by myself and by the other shareholders, as have potential losses of the early months of the current year. The study to give patrimonial value to Inter’s logo is still going on, and I still consider this to be a good opportunity for the company. Thus, unfortunately, the financial miracle that you alluded to has not happened and cannot happen.
Cheers. Thanks”
Massimo Moratti
Posted by Beppe Grillo at 10:20 PM in Economics
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Hello Mr beppe how are you? Im luigi festante Im italian, my english is a crap but anyway I hope that we can undestand each other so we can speak together. I think that internet is a good mass media to talk and to inform....each other and is right to speak in english also if it is hard for a lot of italian people.........you know the italian people dont speak english..........but is good to start!!!!! So your website is very good for everyone!!! I'd like to receive new information about your website or events etc etc
Ciao from Gino and tomokochan
Posted by: luigi Festante | February 18, 2006 06:39 PM
Thanks Rob
Posted by: paola casini | November 13, 2005 02:01 PM
Paola,
if you register to the English version you get the English language 'send this post'.
ciao,
Posted by: Rob Geralder | November 12, 2005 05:14 PM
Dear Mr Grillo,
is it possible - not to cumbersome - to activate the option "send this post" directly for the english version? If not, I will continue to forward the italian version to non italian-speaking acquaintances of mine mentioning the possibility to switch into english by double-cliking on the flag. Little less immediate impact but nevertheless...
Again, thanks a lot for such a remarkable, public service you offer
Paola Casini
Posted by: paola casini | November 12, 2005 11:39 AM
Football... who cares? :-)
Don't miss this one folks...
"Prominent Physics Professor Refutes “Official” 9/11 Story"
www.infowars.com
Posted by: Sergio Stromboli | November 12, 2005 11:13 AM