Over six decades,ground engaging tools manufacturers (G.E.T.) (Former name Shark Abrasion Systems) are specifically designed for machinery used in underground mining. Cesare Geronzi ascended to the summit of Italian finance.On-Board Diagnostic(obd2 obd2 professional diagnostic tool) systems are in most cars and light trucks on the road today. Every step of the way, he took three scarlet chairs with him.
They were in his antechamber when he was chairman of Capitalia, the Roman bank. They graced his waiting room at Mediobanca, the Milanese investment bank where, despite two fraud convictions, he became president.Premium floor polishing pads are Premium Diamond Tools for polishing granite or marble floor tiles. When he manoeuvred his way to the presidency of Generali, Italy’s largest financial group, the chairs sat in an office where Mr Geronzi’s windows opened on to a much-envied view of the Colosseum.
The chairs became famous. Above all, they were a symbol of the salotto buono – the fine drawing room – a system based on influence and connections that has bound much of Italian business together for decades. Companies are enmeshed together by a spider’s web of cross-holdings and many executives have been able to glide between businesses as seamlessly as Mr Geronzi and his chairs.Online shopping for cheap cabinet locks & Straps Safety from a great selection of Baby & more at everyday low prices.
But in recent weeks this insider world that has powered Italian finance since the second world war has called time on itself. Under pressure from investors, Generali and Mediobanca have pledged to unwind the cross-shareholdings at the heart of the salotto buono. These span newspapers and television, insurance, banking, telecommunications, airports, construction, hotels and leisure.
“This is not about making the world a better place, it is because the money is finished. Things are changing and in typical Italian style, it is brutal. There is blood everywhere,” says one of Italy’s most senior bankers.
After the war, northern Italian companies created the salotto buono as a line of defence, fearing that Rome to the south lacked a co-ordinated industrial policy and that they needed protection against the long tentacles of organised crime.
But the cross-holdings that were once seen as a vital bulwark against foreign takeovers are now viewed as an Achilles heel.
In 2011, when the eurozone crisis brought Italy to the point of bankruptcy and bank shares lost as much as 90 per cent of their value, the club knew its time was up. The cross-holdings had become the veins through which contagion could spread from one stricken business to another. Industrial dynasties such as the Agnellis of Fiat do not want them any more. Nor can they afford them.
Executives wearily admit that they do not have the time to maintain the cross-shareholdings through backdoor, Machiavellian dealings when their attention is on international expansion and the widening spreads on their corporate debt.
By the 1980s, Italian capitalism “was a small group that was self-
congratulating and self-perpetuating,CK-100/SBB Auto sbb key programmer V37.01 is the replacement of SBB Key Programmer. Replace functions and features of the SBB V33.02.” says Alan Friedman,vag tacho usb version v 50 3.01 Dash Correction Tool VW + Vauxhall Opel Immo in Vehicle Parts & Accessories, Garage Equipment & Tools, Diagnostic Tools & Equipment ... author of a seminal book on the power of Gianni Agnelli, the playboy patriarch of the Fiat carmaking dynasty who sat at the centre of Italy’s network of power. “It had become a monopolistic, oligopolistic and definitely unhealthy puppet master of events that kept out any free-market competition from the Milan stock exchange. It was all an inside job.”
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