Saturday, April 23, 2011

Happy Easter plus more protests in Italy

I finally heard back from the secretary General office in Emilia Romagna. No news for the US investors because they have to be contacted by the new firm Malaguti hired after firing the last firm they had hired to find a buyer. So we still have two groups interested in Malaguti, but without the cooperation or an understanding of who exactly is in charge in Italy nothing can be done.

Anarchy is pretty funny when your watching protests on youtube, but the truth is its a serious matter for the people of Bologna. I find it disheartening to know that having people willing to invest millions into a factory and buyout the owners they refuse to call them back because its better to bankrupt the business.

I can't name the firm, but the hedge fund was pretty upset they invested all that time. I have a feeling they will be getting a call from Bologna shortly begging them to come back to the table when nobody else shows up with money.

Just seems like everyone in Italy does everything they can to not sell the business. It's like the government can't force a company to work, the company doesn't want to work, and the poor workers get caught in the middle with the Unions. The Unions make the business unattractive to foreigners and the local business people just want to steal money from the government. No wonder Italy is a mess.

If you want to get updated on this story read this:

An update of the Easter protests in Italy on the whole situation.

A real solid group from the US has made an offer. They are already importing scooters from several companies, have a multi million dollar motorcycle lineup, and yet nobody in Italy has contacted them. Unbelievable. Malaguti Moto deserves a chance to continue, but if the owners feel its better to close there's nothing any investors can do especially when nobody picks up the phone in Italy and the workers can't force the owners to sell. It's their right to ask ridiculous amounts of money for the company regardless of what anyone in the outside world thinks.

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