When Sergio Marchionne said that Fiat may be waived for government aid, much to the joy of the Northern League and small entrepreneurs who for decades have launched accusations of favoritism Fiat Mom, no one can realize that the emperor has no clothes?
If Fiat manifest indifference to the incentives of the state and declares with brutal clarity that the establishment of Termini Imerese in Sicily is a plant too, depends on the fact that his "career" is projected elsewhere. Marchionne, or "Marpionne" if you prefer, knows that his bet in the U.S. is superior to the interest that the automotive company will play in Italy in the near future.
Our land is inevitably destined to become the point of sale and production of vehicles. Italy appears as an area less attractive for foreign industrial investment. Far base here, in a country depressed by decades of low growth with increasing disability in research, infrastructure and services, agrees less than before. And certainly not just a bridge over the Strait or a fast train to change the conditions.
Meanwhile, Marchionne and Montezemolo are divided over ten million euro for achieving the budgetary targets in 2009. Despite the crisis of 2009, in fact, the top of the Lingotto have increased by one third of their salaries over the mountain to 2008, when Marchionne and Montezemolo had pocketed 3.4 million each. To raise the fees this year's bonuses were tied to the budgetary targets. The fact that it has reached an operating profit of 1.1 billion and has taken the debt to 4.4 billion, Marchionne will take home a bonus of 1.345 million to 3.437 million in addition to the charge levied CEO of the group. So we arrive at the total figure of 4.78 million euro. Luca di Montezemolo will collect 5.2 million. Of these 550 000 € are the remuneration for the presidency while 4.6 million fee for the presidency include the Ferrari and the achievement of the bonus linked to the budgetary targets in Maranello.
In the same hour, in Germany, was a show entirely. Daimler, the group that produces the prestigious Mercedes, after fourteen years has taken a historic decision: no dividend to shareholders this year. Not only that, to recover profitability and productivity, Daimler announced a plan 'war' for the current year. Here is
take a lesson from Germany. Without easy demagoguery. Sure, the numbers are far worse than Daimler Fiat. But the market outlook, especially now that the incentives are blurred, are also worrying for the 2010. With these
"moonlight" and the massive layoffs already announced in the coming weeks, the Lingotto would do better to self-impose a line of healthier Savoy austerity, rather than toast with rivers of coupons to a recovery that there yet?
And then, as usual, soon, we'll be back in the initial condition. The moral is and will always be that, when the Fiat, earning the manager, when the Fiat lose, lose the Italians.
