The Industrialist

marco tronchetti.jpg

The book of 2006 is surely "L'industriale", (The Industrialist), in which the image of one of the greatest managers that our country has ever had is described with a great sense of objectivity and judgement. In the blurb, Tronchetti Provera is said to be: "an entrepreneur capable of restructuring and giving new life to companies in difficulty" and “research, innovation and social responsibility have found space in his activity".
If I've really got to do some nit picking in this book I'd start with the title, that little word: Industrialist.

I've always thought that an industrialist was a man with lots of capital, an investor. One who risks what he owns. Someone like Adriano Olivetti or Arnoldo Mondadori.

But the president of Telecom Italia, “the Industrialist”, how much of this company in constant decline does he own? It has a debt equal to the GDP  of many countries and its share value has lost almost half its value since 2001. Have a little think before reading the answer: how much of Telecom is owned by this unhappy Tronchetti {play on words here brings the image of a happy plant that is not happy}? 
Have you had a think? Well, it’s less than that!

It’s slightly more than 0.8%.

In fact, keep following my argument, and I know it’s difficult for those who are still sane:
- Marco Tronchetti Provera & C a.p.a owns 61.48% of Gruppo Partecipazioni Industriali (GPI)
- GPI owns 50.18% of Camfin
- Camfin owns 25.36% of Pirelli
- Pirelli owns 57.7% of Olimpia
- Olimpia owns 18% of Telecom Italia

With less than one per cent, “the industrialist” governs one of the biggest Italian Groups.
The same Group that has been fined 115 Million Euro for the abuse of its dominant  position in the telephony sector.
An industrialist without money, without results.

Dear shareholders, substitute him!

Posted by Beppe Grillo at 01:36 PM in | Comments (3)
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Comments

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Posted by: mrs neeru oberoi | March 23, 2007 06:29 AM


once more grillo has proven he knows something about the Italian economic system, with this provera guy.

Posted by: njemnu fomuso | September 19, 2006 08:26 AM


Italy's "industrialists" are as great as its current "governments leaders"!!!
It is not a coincidence that the ones strive their own futile existence within the "sea" of empty words of the other!!!!
Asinus asinum fricat!!!
Maybe getting rid of the latter, whould help to
improve the quality of the former.
But the opposite is also true!
Actually when one comes to think about it, if all Italians don't make an "erculean" (almost an a-italian thing to do) effort to improve
themselves and raise the bar of "quality" of their doings (political and non),why I ask their
"industrialists" and their "politicians" should be any better!?
So, good night...and good luck!!!


Posted by: Peter Ingraldi | February 25, 2006 10:02 PM


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