Junk dealer

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Junk dealer: A person that buys and sells used goods

Devoto-Oli. . ‘Pirelli and Telecom shares shooting up. The Stock Exchange is betting on a new rearrangement’ (Repubblica 9/9/2006)
‘Tronchetti sends out the signal of a turnaround now even Tim can be sold’ (Repubblica 9/9/2006)
‘Behind the negotiations between Telecom and Murdoch, an industry strategy that is common to the major European Groups’ (Repubblica 9/9/2006)
‘The fever about the rearrangement is giving wings to Pirelli’ (Corriere della Sera 9/9/2006)

The turnaround, the betting, the rearrangement, the wings, the industry strategy, the fever. Enchanted words. Let’s have a go at translating them.

Telecom has debts of 41,300,000,000 euro. Hopa, Unicredit and Banca Intesa have come out of Olimpia. Tronchetti and motorway payment collectors Benetton are the only ones left. Tronchetti needs cash. Now that he has sold “to rearrange” Telespazio, Seat PG, Finsiel, Pirelli Cavi etc, etc. After the plummeting of the share value of Pirelli and of Telecom in the last 5 years. After having got people working in outside companies to give the “turnaround signal” to part of Telecom. After merging Tim and Telecom as an ‘industry strategy’ and getting Telecom into debt so as to get available cash from Tim. After having distributed profits to the shareholders instead of using them to reduce the debts or to make investments. After having uselessly tried to get Pirelli Tyre quoted on the Stock Exchange. Basically, after having tried everything, according to whispers, he could sell Tim, the landline telephone network, the last mile. Everything.
This man is extenuating. Through a series of Chinese Boxes.

MGMP>Mtp&cSapa>Gpi>Camfin>Pirelli&c>Olimpia controls Telecom, with a percentage like a telephone prefix. He has no money but he wants money. Telecom shares on Olimpia's books are double the value seen in the Stock Market quotation.

It doesn’t get devalued. No one knows why not. Telephony and the backbone are essential for the development of the country. The government can’t just stand and watch. What’s Prodi looking at? He closes his eyes and smiles beautifully. I invite Prodi (you too invite him with an email) to give a signal with a letter to this blog.

Ps: Very soon the ‘share action’ initiative for the Genoa-Style Takeover will be here on the blog.

Posted by Beppe Grillo at 10:07 AM in | Comments (2)
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Maria,
Did your account have a balance??
Have you given the Bank a forwarding address while in Ireland??
In normal circumstances Banks cannot charge you with fees you don't know about (also written in small print...)
Now I can think of two possibilities: either you had enough money left in you account to cover its handling expenses or it was made dormant in which case there are no fees...
Let’s hope Banca Intesa is following these general banking practices...:o)

Posted by: paola filinesi | September 11, 2006 04:56 PM


What Has BANCA INTESA done?
HEllo....Palermo calling.From september 2003 to june 2004 I opened an account with BAnca Intesa and spoke with Ms.Iolanda Billeci....
The first time i opened an account with BANCA INTESA was in 1192, but it was an account for youth.
In June 2004 i decided to go back to Ireland and Ms. Billeci advised me not to close the bank account.I stressed i would probably not use the account anymore and while i was in ireland the FEE rocketed from a mere 5eur to 30eur.I came back onthe 30th of july 2006 and i bet that the bank will chase me for paying these fees back.
I hope Ms. Billeci Iolanda is still working for the bank when ill have a chance to pop at the bank and ask for her as i have already paid a couple of hundreds of euros on credit card fees!! UH, Uh,Ah,Ah!!!

Posted by: Maria Consuelo Spera | September 11, 2006 03:36 PM


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