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B as a bank - X-rays of the cost of labor in group B as banks UniCredit

as bank B - X-rays of labor costs in the group UniCredit

Nicola Borzi

After yesterday's big union agreement the impact on employment in Italy of the new organizational model One4C , the so-called "counter", a question remains open: how much work the group UniCredit ?

What's more, the cost of an employee in the retail , how much of a private banking , how much in ' asset management, what it costs in the corporate and investment banking , as in the DGs and ancillary services?

We try to give an answer.

At the end of June, according to official figures published together with the six-month Piazza Cordusio and contents of the database divisional group, the total labor costs in the first six months of the year was 4 billion 653 million and 300 thousand euro. The total workforce was 162mila average over 379 employees (the broken arrotondiamoli, please). The average cost per half-year gross, per employee, was equal a 28.660 euro (se la matematica non è un’opinione). Ma questo ci dice ben poco: UniCredit lavora in Italia e all’estero. Andiamo dunque a calcolare quanta è e quanto costa l’occupazione in Italia.

Come mostrato dalle tabelle che precedono, nei primi sei mesi dell’anno lo “sportellista”, definizione imprecisa sotto la quale comprendiamo tutti gli addetti della rete retail di Piazza Cordusio, in Italia It cost € 35,640 gross six months, 71,280 a year. Almost € 19,500 (half gross), or 39mila year, less than the per capita cost of a clerk of the Italian private banking , ie 54.6% less. Almost € 17,700 (half gross) or 35,400 a year less than the per capita cost of a worker European corporate and investment banking , ie 49.6% less. Ben Gross € 37,400 in six months, or 74,800 a year, in less than an employee of ' asset management, that is less than half. 18.5% (6,600 euro gross per semester, 13,200 a year) less than € 42,240 gross half-yearly, or if you prefer 84,500 about the employees of the Directorates-General and all the ancillary services ( ICT, real estate, support staff, maintenance so on).

Now we take this information on the average cost per half-year raddoppiamoli to be calculated on an annual basis and multiply it by the estimates of detection of possible early retirement in the various group companies, compiled by UniCredit and advance to the unions. The data is contained in the table below.

3058 If that early retirement will fall to 3 thousand, depending on labor costs average annual officially declared over the past half-year accounts UniCredit would save a rate of about 240.5 million €, € thumb more talking, less €. Instead of the expected savings from the company, and declared the trade unions, amounted to 422 million euro. That is 181.5 million, or 75.5% better in more and more feasible than if they were employees, "medium". That puts us in front of a thorny dilemma.

Dilemma we propose that, since the Employees 'average' are not paid for anything like their colleagues who are about to retire, having reached the maximum of the shots of seniority and promotion, possiamo davvero pensare che guadagnino il 75,5% in meno? Cioè che un dipendente giunto al massimo del suo stipendio in UniCredit guadagni in media 141mila euro l’anno? La cifra ci pare effettivamente molto, troppo elevata, anche se immaginiamo che tra i prepensionandi ci siamo condizioni di carriera e di reddito molto elevate.

La possibilità alternativa è che i 422 milioni di euro di risparmi a regime sul fronte del costo del lavoro resteranno un obiettivo non raggiunto, oppure che l’azienda intendesse raggiungere il budget non su 3.000 ma su 4.100 esuberi (ovvero i 4.700 previsti al netto dei 600 “congelati” da Tremonti). Il che “abbasserebbe” il Average annual unit cost of employees early retirement at just under € 103mila, a figure that seems more realistic. If so, however, the savings in the scheme in 2013 by UniCredit would be reduced by more than 113 million euro per year compared to 422 planned, stopping at an altitude of 309 million. The savings of 422 million fully provided by UniCredit would be achieved only at the end of 2015. Also during that period of new qualifying circumstances.

the market will decide which version to believe.

(See previous posts on UniCredit)

Maker All Softwell Similar

- Iccrea Holding completes the reorganization

B as banks - Iccrea Holding completes the reorganization

Iccrea Holding: Mazzotti, reorganization is complete, more attentive to the market - a

Launch new company in consumer credit with Agos Duchy

(Il Sole 24 Ore Thomson Financial) - Washington, Oct. 12 - The banking group understood that the Italian system, consisting of over 400 cooperative banks, no longer sufficient product factories. "A survey we found that out of 420 Bcc, only a number that represents a low percentage could take a leading exporter abroad." Iccrea Holding is therefore changing role. "Since we started this year with the centers of business consultants with a high standing able to help the bank in the cooperative relationship with the client company." The group also has focused on a wide range of banking services from corporate finance to factoring and is continuing the strategy of seeking partners for other "trades". The insurance industry has already been done in the agreement with Catholic which ceded control of Bcc life and starts to replicate it in a few days when the new company will be operational for the consumer credit created in partnership with Agos Duchy.

Roberto Mazzotti in Washington for meetings of the International Monetary Fund, yesterday attended the meeting of the Steering Committee of Unico Banking Group, an alliance of eight European cooperative banks organized in the form of European economic interest group. Much more than a simple association, said Mazzotti, recalling that during the acute phase Unico Banking Group of the crisis placed at the disposal of the partner banks, including a giant like the Credit Agricole, DZ Bank the German, Dutch Rabobank and Austria's RZB , a line of 500 million in cash to First Call. An alliance that "no proclamations or corporate bonds is building a real network between the various partners." And the example is the joint venture for consumer credit made Agos Duchy controlled by Credit Agricole. A process that certainly was favored by the global crisis that has pushed a giant like the group to focus on the Agricultural market.

Ggz

(RADIOCOR) 12-10-10 15:17:10 (0214) 3 NNNN

Iccrea Holding: Mazzotti, riassetto completato, più attenti al mercato - 2

(Il Sole 24 Ore Radiocor) - Washington, 12 ott - L'ultimo passo sarà la scelta del nome della banca corporate , oggi ancora Agrileasing , sul quale sono in corso le valutazioni all'interno di una lista che ha già avuto il beneplacito della Banca d'Italia , e dall'inizio next year, told the general manager of Thomson Financial Holding Iccrea, Roberto Mazzotti, the rationalization of the banking group's second level of the Italian credit cooperative will be completed. A change driven by the fact that "the market has changed" and that the cooperative bank alone can not take it anymore, "Iccrea Holding up to two years ago, was on the internal control group and a slight coordination tasks will now have to address Coordination and Control. "

GGZ

(Thomson Financial) 12-10-10 15:13:34 (0213) 3 NNNN news

(Consulta i post precedenti su Iccrea)

Hideaway Test For Gallbladder

B as banks - UniCredit, the future capital increase Uccmb up to 3 billion in credit management as abnormal B

B come banche - UniCredit, futuro aumento di capitale Uccmb fino a 3 miliardi per gestione crediti anomali

UniCredit: riorganizza attività gestione crediti anomali, ok Bankitalia - 1

Fusione Aspra Finance (ex Capitalia) in U.Credit Management

(Il Sole 24 Ore Radiocor) - Milano, 12 ott - La Banca d'Italia ha dato via libera, il 22 settembre, alla fusione per incorporazione di Aspra Finance , società del gruppo UniCredit nella quale erano confluiti i crediti problematici delle banche e società dell'ex gruppo Capitalia , in UniCredit Credit Management Bank ( Uccmb ), cha ha sede a Verona. L'operazione in oggetto, ricorda Banca d'Italia, è finalizzata a riorganizzare le attività di gestione dei crediti anomali in coerenza con il progetto intrapreso dal Gruppo per uniformare le politiche gestionali and operating in the sector. The authorization request had been forwarded to via Nazionale August 4 last year, the first of farewell AD Alessandro Profumo occurred after the summer.

Mir-

(Thomson Financial) 12-10-10 15:11:57 (0210) 5 news NNNN

UniCredit : reorganizes management activities performing loans, Bank of Italy ok - 2

(Il Sole 24 Ore Thomson Financial) - Milan, Oct. 12 - In a merger of Sour Finance in UniCredit Credit Management Bank (Uccmb), si precisa che, al fine di mantenere in equilibrio il conto economico della banca incorporante post fusione, evitando l'aggravio di interessi sui finanziamenti passivi concessi a suo tempo ad Aspra da parte di UniCredit, la banca di piazza Cordusio avrebbe provveduto, prima della stipula dell'atto di fusione, ad effettuare un versamento in conto "futuro aumento di capitale" in favore di Aspra per massimi 3.000 milioni. Alla data di efficacia della fusione, si precisa inoltre, Uccmb, che ha un patrimonio netto al 30 giugno 2010 di 94 milioni, provvederà a imputare alla voce riserve, senza effettuare alcun aumento del proprio capitale sociale, le poste patrimoniali di Aspra Finance, pari to 839 million, which will almost completely cover the losses of Sour approximately 762 million.

During 2008 and 2009, Aspra Finance, established in January 2007, gave substance to the purchase of non-performing portfolios of the Group, including banks' ex Capitalia, making purchases for a total 227mila positions a gross value of approximately 19.8 billion, as part of a larger reorganization of the Group. In late 2009, says the annual report, the loan portfolio consists of approximately 18.9 billion 203mila positions, of which approximately 59% in the private sector, followed by business (29%) and bankruptcy (12%) for an average positions 93mila € each. The year closed with a loss of Finance Aspra budget of 294.25 million (-83.54 million the year before), all reported earnings.

Mir-y-

(Thomson Financial) 12-10-10 15:13:20 (0212) 5 NNNN

(See previous posts on UniCredit)

(See previous posts on the Bank of Italy)

Car Sales Position Cover Letter

banks - Basel 3 , the warnings and the League of Mussari

B as banks - Basel 3, the warnings and the League of Mussari

Basel 3: Mussari, rules apply even those who work in the shadows - a

"We need rules and limits and prison for those who make mistakes"

(Il Sole 24 Thomson Financial) - Rome, Oct. 12 - Ben is Basel 3 but the new rules "Also bring transparency to the shadow banking system that is among the major causes of the current situation." And 'this is the warning that has been launched today by the president of' Abi , Giuseppe Mussari , speaking during a meeting in Rome. If they are not subject to regulation even those subjects, those financial intermediaries who "operate in the shadows" in terms of systemic risk, Mussari added, "we'll be back to the starting point" even after the introduction of Basel 3. "The invisible hand - said the president of ABI - could also fit for the butcher, but not for hedge funds do not know where. We want rules and limits - said Mussari - and prison for those who make mistakes."

Cel-lc-

(RADIOCOR) 12-10-10 11:54:45 (0124) 5 NNNN

Basilea 3: Mussari, regole si applichino anche a chi opera nell’ombra - 2

(Il Sole 24 Ore Radiocor) - Roma, 12 ott - Affrontando il tema di Basilea 3 Mussari ha ricordato come l'ambizione del nuovo sistema di regolamentazione sia quello "di essere generale: vedremo. Una delle obiezioni che ha sollevato l'Abi - ha ribadito il presidente - é che non si vada a finire come with Basel 2, which has been applied in Europe, in countries like Italy and France but not in the United States. "Aspiration, added the president of ABI, which is not going to end up as Solvency 2, which, as noted will be applied only in Europe: "My advice to Axa is to move to New York - joked the president of ABI - and chase so the best setting.

It is also on theme Solvency 2 is the president spoke of ' Ania, Fabio Cercone : "We welcome a new system of rules - he said - with an upward slope. The fact remains - he added Cerchiai - che ci siano alcune preoccupazioni e, tra queste, soprattutto il fatto che ci si vengano a chiedere dei requisiti patrimoniali eccessivi e inutili in quanto tali".

Cel-lc-

(RADIOCOR) 12-10-10 12:05:24 (0131) 5 NNNN

Bnche: Lega a Governo, scongiurare stretta credito da Basilea 3

(Il Sole 24 Ore Radiocor) - Roma, 12 ott - "Monitorare" la situazione del sistema creditizio ed eventualmente "intervenire con determinazione" to ensure the "continued provision of credit" and prevent "possible negative consequences" for businesses and households from the application of Basel 3. E 'commitment that the group of League the House calls on the Government in a motion presented to Deputies and that will be debated in Parliament in the coming weeks.

The document, first signature of parent Marco Reguzzoni , stressing that "the Basle 3 arouses strong and justified concern in the industrial world and in particular among small and medium-sized enterprises on the new requirements as provided herein intended to strengthen the banks' capital 'and' you evidenzia il rischio che venga ridotto il credito non solo alle imprese ma anche alle famiglie, con un ampio differenziale tra tassi a credito e tassi a debito. C'é il fondato rischio, quindi, che il nuovo accordo penalizzi l'economia reale in una fase ancora molto delicata".

Per il Carroccio "é fondamentale garantire il supporto del sistema creditizio e scongiurare il pericolo che la capitalizzazione richiesta alle banche dai nuovi accordi di Basilea 3 possa portare ad una forte stretta sul credito": da qui la richiesta di 'vigilanza" al Governo, che dovrà operare d'intesa con la Banca d'Italia e l'Abi.

nep-mct

(Thomson Financial) 12-10-10 11:03:56 (0096) 5 NNNN

(See previous posts about Basel 3)

Flashy Flashers Inc Solution

B as banks - Banco Popular downgraded Societe Generale

B as banks - Banco Popular downgraded Societe Generale

Stock Exchange: Banco Popolare (-1 , 9%) weak, SocGen lowers rating from buy to sell

(Il Sole 24 Ore Thomson Financial) - Milan, Oct. 12 - The Banco Popular loses ground at the Milan Stock Exchange, where the first give the titles of the institute, 89% to € 4.2875 . Have changed hands compared to 3.7 million pieces of an average of 5.1 million in a full session last month. The prices are affected by the opinions of analysts Societe Generale, which lowered its recommendation on the title to "sell " from previous "buy .

After the sale of Caripe to Tercas , on the other hand, the market is uncertain about any new moves made on site by the CEO Pier Francesco Saviotti to further strengthen the capital position of the institution. Riding sim, which keeps the proceedings " buy" with target to 6.3 euro, the most likely scenario is that of a capital increase by one billion, and are considered less likely the sale of some of the jewels of group or a recapitalization is higher. E 'instead possible, analysts note that the increase will be launched "ahead of schedule", and then at the end of 2010 and the first half of 2011.

PPA-b-

(Thomson Financial) 12-10-10 11:21:39 (0107) 5 NNNN

(See previous posts on Banco Popolare)

Endometriomas More Condition_symptoms

B as banks - Marriage in sight for BPM and Monte Parma

B as banks - Marriage in sight for BPM and Monte Parma

Bpm: 156 million offer for 51% Monte Parma, will pay half in shares - 1

(Il Sole 24 Ore Thomson Financial) - Milan, Oct. 12 - The Banca Popolare di Milano offers 156 million to detect 51% of Banca Monte Parma Foundation, which controls the establishment of Emilia. The proposal, according to Thomson Financial results, is contained in the letter prepared by the board of directors this morning and sent to Parma.

The board has authorized the President Massimo Ponzellini to conclude the negotiations, with some conditions. The most notable is that 50% of the price must be paid in newly issued shares BPM solution which will limit the absorption of capital operation. The goal of BPM is in fact maintain the core tier 1 above the threshold of 7%.


Milan The institute also aims to draw up a shareholders' agreement setting out precisely the weight of the Fondazione Monte Parma in the future governance of the institution . BPM has also given the availability of sign per share after the acquisition of 51%, an increase in capital of Monte Parma for about 100 million, with a subscription price of new shares equal to the net book value of the bank. The total price of the transaction will result in a value of Monte Parma after the capital increase to a multiple of less than 1.6 times book value, the threshold above which BPM is not willing to go.


-Y-PPA


(Thomson Financial) 12-10-10 15:34:07 (0220) 3 NNNN news

Bpm: 156 million offer for 51% Monte Parma, will pay half in shares - 2

(Il Sole 24 Ore Thomson Financial) - Milan, Oct. 12 - During the Board of Directors of BPM, according to state financial sources, there have been objections and doubts about the project Monte Parma, and some advisers They asked Ponzellini a chance to review a reduction of the purchase price. The amount, however, may be subject to revision, only to fall, when due diligence. Given the unusual timing of the board of BPM, convened at 10 o'clock this morning (usually takes place at afternoon), the letter may already be in Parma for a preliminary examination in the afternoon by the Institute of Emilia cda. In case of agreement on the conditions, the closing of the transaction will come soon and it is conceivable that the issue with the final text of the agreement, can be put to a vote on the Board of ordinary Bpm scheduled next Tuesday.


As it is crafted, one of the consequences of the project presented by BPM will be the entrance to the Fondazione Monte Parma in the capital of the institute in Milan. At current market price, 78 million (half of the offer for 51% of the bank Emilia) would correspond to about 22.4 million shares Bpm, 5.1% of the capital of the institution of Piazza Meda.


According to shareholders' pacts Monte Parma, also the other shareholders of the institution Emilia (primarily Banca Sella and the Foundation of Piacenza) may exercise the right of asking after also buying bpm their shares. Hypothesis that the bank would place Meda around 78% of Monte Parma. The Institute of Milan, according to reports, is prepared to discuss the issue, although of course the additional interest would be paid at a lower price than offered the Fondazione Monte Parma, which incorporates the majority of the premium.


-Y-PPA


(Thomson Financial) 12-10-10 16:42:35 (0251) 3 NNNN

BPM: Currency Board amazing deals on Monte Parma - 1

(Il Sole 24 Ore Thomson Financial) - Milan, 11 October - The board of Bpm will meet tomorrow (today for the reader, Ed) in special session to decide whether or not, and under what terms, an offer to the shareholders of Banca Monte Parma . Lo riferiscono fonti finanziarie. Domani (oggi per chi legge, NdR) é in calendario anche un cda dello stesso istituto parmense: il board era previsto da tempo, ma non é escluso che l'eventuale proposta di Bpm possa essere esaminata se i tempi e la posizione della Fondazione Monte Parma (azionista di maggioranza della banca) lo consentiranno.

Ppa-

(RADIOCOR) 11-10-10 17:05:45 (0272) 5 NNNN

Bpm: CdA straordinario valuta offerta su Monte Parma - 2

(Il Sole 24 Ore Thomson Financial) - Milan, 11 October - The contacts between the leaders of BPM and the shareholders of Monte Parma have intensified in recent weeks, and already last Tuesday President Massimo Ponzellini had informed the board one last round of meetings would lead to the final decision. For Monte Parma, which initiated the search for an industrial partner at the instigation of the Bank of Italy, the situation could then unlock after the Foundation had been trying for months for a solution that would enable it to maintain a majority institution, exploring the market in search of allies willing to enter with a market share of approximately 30%. This strategy has not led a risultati tanto che, secondo alcune fonti, l'ente potrebbe aver ormai deciso di rivedere i propri piani. Bpm, d'altra parte, come annunciato dallo stesso Ponzellini, fin dall'inizio puntava a chiudere un'operazione che le consentisse, magari anche attraverso la sottoscrizione dell'aumento di capitale messo in cantiere per rafforzare la situazione patrimoniale di Monte Parma, di raggiungere almeno in prospettiva la maggioranza della banca parmense.

Ppa-

(RADIOCOR) 11-10-10 17:53:16 (0303) 5 NNNN

Monte Parma: The Foundation breaks down the delay, ready to give up 51% - 1

(Il Sole 24 Ore Radiocor) Rome 11 Oct - The Foundation of Monte di Parma is ready to sell a majority of Banca Monte Parma. The institution, according to Thomson Financial is, has decided to sell 51% of the institute, a move that made can get the negotiations under way with Banca Popolare di Milano. For tomorrow (today for the reader, Ed) Milan Institute convened an extraordinary board of directors to assess the submission of an offer to the Foundation and other members of reference. Given the sensitivity of the situation, meanwhile, Monte Parma postponed the establishment of the terms of the expected increase in capital of 120 million, which will only take account of the ongoing negotiations.

ggz-PPA-

(Thomson Financial) 11-10-10 18:58:41 (0336) 3 NNNN news

Monte Parma: Fondazione break the inertia, ready to give up 51% - 2

(Il Sole 24 Ore Thomson Financial) - Rome, Oct 11 - That the Foundation's financial sources explained, is a hard decision taken by the astute diplomatic Carlo Salvatori , Long-time banker and a proven ability who, with his authority, he convinced the sull'ineluttabilità institution of choice, particularly given the inability to sign personally the necessary recapitalization. The purchase of a majority of the institution which has 12% market share in the rich Parma is still likely to become an operation of importance to potential buyers. The shareholders' agreements entered into with the minority shareholders Banca Sella and Foundation Piacenza fact offer them the right below in the supply covered by the new majority shareholder must be able to detect 78%.

He is now Bain, advisor appointed by the Foundation, taking up the thread of contacts made by Imi Bank, a consultant who had already moved on behalf of the bank in search of a "white knight" in response to the letter last address the Bank of Italy the board of directors to ask for the swift recapitalization. If tomorrow (today for the reader, Ed) Bpm choose to make an offer and if the proposal is deemed adequate, the story you can close at very short notice.

GGZ

(Thomson Financial) 11-10-10 19:21:55 (0350) 3 NNNN

(See previous posts on Banca Popolare di Milano)

(See previous posts on Banca Sella)

(See previous posts on the Bank of Italy)

Najlepszy Darmowy Serwer/hosting

P as presbyopia - Goggles Ostellino

P as presbyopia - Goggles Ostellino

There is an esteemed colleague, self-styled liberal, onusto with glory and honor, from the top of the page that "ideas and opinions" of the "Corriere della Sera " is a censor of vice impanca italioti: Piero Ostellino . Today our debating the "Case Marcegaglia" Dragging in the Newspapers, Pm, questions of principle "and he tore his clothes," If the Italians do not flare up. " Yet, come the end of the reading, despite its winged prose, I have left a bad taste in my mouth and I do not know why.

To try to understand the rationale of this unpleasant taste, I try to reconnect with the ultimate test of our history of its production journalism. To do this, I'm going to investigate web archive of the Corriere della Sera. " I find you list the titles of his editorials, a string of lamentations that even the biblical prophet, or, in our case, the version of "secular", Cato the Uticense: "The end of politics", "A depressing sight" , "are not enough numbers" (omit the one on my staff for Fallaci Fallacies), "Investigation and Resignation," "The conflict to be avoided" ...

"The conflict be avoided? Wait, wait! I think that finally says something Ostellino relevant. No, the word I'm looking for is not here just about conflict, friction, quarrels inside the PDL. Nothing, not even a line on the conflict that interests me. To find traces of the theme of our production, I have to go back to 2002, March 3, when the newspaper which was always to write yet another Albertini Our fund titled "Crying Wolf" (tracking, just happened at http://2001-2006.governoberlusconi.it/conflitto_interessi_ostellino.htm )

articolessa read this again, I finally understand. I understand why someone calls them "the liberal clams (mussels whether that species is not know, or with mussels, sauteed anyway). Here are the key ingredient missing piece to today's Prayer: the conflict of interest.

Bello speak of "chance Newspaper", wand everyone, Pm, newspapers, opposition, Confindustria. Association which is defined (friendly) "a corporation . That courage, that contempt of danger! Yet remember that our nouns like he used when he directed the "Corriere della Sera: own in October of 1984 when Rizzoli that passed under the control of which Gemina Agnelli family was the controlling shareholder ...

Maybe someone should remember, however, that failure to Piero Ostellino "liberal revolution" Italian has been consolidated in the years of Berlusconi, thanks to the "small" detail of the conflict of interest. What makes Italy the "abnormal country", according to our own, and. So it is pointless to make comparisons with "normal" countries, the United Kingdom, France, the United States.

Maybe someone should remind that Ostellino the Frattini law that mandated the ' Antitrust for ensuring self-interest is incomplete, cumbersome, unworkable. The President explained to the GSA, Catricalà in its annual report filed on June 16, 2009 to Montecitorio :

"Several times, the Board found that the discipline is very clear static aspects of the incompatibility between government offices and other public offices and private, it is rather cumbersome on the dynamic manifestation of the conflict, whose determination is subject to the occurrence of multiple and binding conditions. Article 6, paragraph 5, prevede che in assenza di quelle condizioni l’Autorità non possa procedere alle verifiche di competenza. In particolare nessuna istruttoria può essere aperta se non in presenza di un atto di governo».

Se c’è qualche oculista, ottico od optomestrista in circolazione, consigli a Piero Ostellino un cambio di occhiali. Perché oltre a vedere bene da lontano quanto di “anormale” c’è nei fatti, nelle parole e nelle opinioni di Pm, giornalisti, associazioni datoriali, degli italiani veda anche l'enormità di un Presidente del Consiglio editore (e quale editore!) che gli sta sotto gli occhi e della quale - da qualche Luster - is shown not to notice.

Shanthi Sachithanandan

S as scoliosis - The omelette Porro

S as scoliosis - The omelette Porro

The appearance in "Nothing Personal " on La7 of Nicola Porro , deputy director of the "Journal " of Sallusti and Felt was really eg not know.

Our , having registered to speak ill of his direct boss, Sallust, the question of why he had called on Piroso The "eternal second" replied stammering disconnected a few sentences to the public asking "Which of you in a private phone call has never said anything untoward about his boss?" and then claiming to have spoken directly with Sallusti in a discussion over in laughter.

Well, to me this is the best explanation, the clearest evidence of why the Italian press is always worth more, because the decline in quality is increasingly evident.

because it is made by people, too (specialmente!) in high and intermediate grades, can not keep your back straight even half a second, even when it should only confirm what he said.

What's more, because it is made by people, too (specialmente!) at the higher levels, in the intermediate grades, was selected because of his not knowing how to keep your back straight.

Porro The omelette is ridiculous and indigestible.

But the most despicable, really painful on the whole, is the defense motion made by Fnsi and by 'Association of Journalists these servants of the servants under the pretext of freedom of the press and of opinion. As if to pose, Sallustio, Felt & C. their freedom was never imported anything, if not the price at which they sell at best!

Flashy Flashers Case Solution

B as a bank - UniCredit has a map of the unions as early retirement

B as banks - UniCredit has a map to the unions' early retirement

From the "Sole 24 Ore" of Saturday, October 9 2010, page 25

Banks - the company has presented the unions requests for voluntary redundancies divided society

Map of redundancies UniCredit

In Network 60% of 3 thousand early retirement - The rock of recruitment

Nicola Borzi

Get in on the negotiations between the unions and UniCredit organizational model that provides One4C 3 thousand redundancies in the period 2011-13. The "counter" with the Italian re-direct incorporation into UniCredit SpA Bank of UC, UC Banca di Roma, Banco di Sicilia , UC Corporate Banking, Private Banking UC, UC Family Financing Bank e UC Bancassurance M&A . L’azienda ha trasmesso a DirCredito , Fabi , Falcri , Fiba/Cisl , Fisac/Cgil , Silcea , Sinfub , Ugl Credito e Uilca una mappa dei dipendenti che entro il 2013 matureranno il diritto alla pensione.

Il 60% circa fa capo alle tre società che gestiscono la rete degli sportelli,  UniCredit Banca di Roma (800 dipendenti che entro il 2013 avranno i requisiti e anche la "finestra" di uscita), UniCredit Banca (373) e Banco di Sicilia (245). Another 15% is owned by corporate (302) and private banking (54). The rest is distributed between holding (161), centralized production (300), IT companies (62) and other companies (167). There are 2464 positions with those who reach the 3203 accrued pension by 2013 but will go there in 2014.

The company offers a first-stage agreement on timing, methods and incentives for early retirement, as well as on new inputs that splits between the stabilization of unstable (UniCredit will also include apprentices) and new recruits. These would be conditional to the achievement of redundancy. If 3 thousand voluntary redundancies were not reached, the mandatory open UniCredit (without incentives) for employees in the three years that will accrue pension rights.

The company would like then a second phase of negotiations (on mobility, frameworks and other issues) during collection of support for early retirement. For which UniCredit has two levels of incentive: those who accept the output since the vesting requirements would receive a bonus and for 12 months until the "window" for an advance of 70% of final salary, and who chooses to leave only the first "window" discount a reduction of 50% bonus and after completion of the requirement, would not receive more incentives and company bonus.

Upon reaching three thousand voluntary redundancy UniCredit stabilize 1,077 trainees, 158 employees and 590 temporary or seasonal contracts administration. It would then answer to the 600 already planned out the Solidarity Fund and windows blocked by the postponement of retirement. It is unlocked by other recruitment companies in crisis such as the Delta group and Telematic Services Sicilians in Palermo, and 121 inputs provided by the 2008 still outstanding. If the positions on a voluntary redundancy scheme are quite close (still the issue of bonuses), are far apart on new jobs.

Some abbreviations do not accept that apprentices are considered temporary because they already work and their permanent employment would not increase the input, leaving unresolved the nodes of the network staff. Another stumbling block is the proposed business does not pay for new employees, for the first four years, the so-called corporate welfare (subsidies, social security and health integrative benefits of bank services and loans). That's why you will need new experiences.

(See previous posts on UniCredit)

Linxcel Vc-211a Usb 2.0

B bank - Banco Popular plans 500 redundancies in 2011 as banks

B as a bank - Banco Popular plans 500 redundancies in 2011

by the "Sole 24 Ore" of Friday, October 8, 2010, page 23

Credit. The plan of the 2010-11

sixteenth cuts Banco Popolare

Nicola Borzi

crisis weighs' and makes it extremely uncertain prospects ", dunque «è indispensabile assumere iniziative strutturali» pur in un confronto che individui «modalità di intervento condivise». Queste le basi sulle quali ieri il Banco Popolare ha presentato in via preliminare ai sindacati le linee guida sugli organici per il 2010-2011. Che, a fronte 80 nuove assunzioni, prevedono 800 uscite: 300 entro quest’anno, 500 in programma nel 2011. Perché i conti vanno rianimati, l’istituto ripatrimonializzato ( Basilea 3 incombe) e gli azionisti tranquillizzati.

Il terzo gruppo creditizio nazionale, sorto il primo luglio 2007 dalla fusione tra Banca Popolare di Verona e Novara and Italian Popular , has 20,329 employees and 2,271 branches. But the financial crisis first and then the recession, as well as the events Italease Fiorani and have left their mark. To redress this is not enough supply of Caripe to Tercas , closed in recent days with a profit of 228 million. The company wrote that "three years after the birth of the group, the objectives of the Business Plan 2007/10 appears to be strongly divergent than expected." Euphemism, because the net "even excluding the negative result of 2008 was down 68.1% in the period 2007-09," while the operating margin was down 30.4% and there is "a significant reduction in net interest and commission income."

Besides, the 2007-10 plan aimed at a growth that has not been realized: the cost income, expected in late 2010 to 43% at the end of 2009 was at 66.6%, the Expected ROE was 14.6% at 2.4 and revenue per employee, which were expected to reach € 294mila, were standing at 182 thousand. That is why the Banco Popolare will reduce operating costs. Including that of staff who, without structural, an increase of 105 million in 2011 INS.

is the ratio the decrease of 300 employees by year end. As for 2011, requires "a structural reduction in costs at least 50 million" with "a structural reduction in staff of 500 resources' in the directions 200 and 300 on the network, down to 19,467 units year-end. Come out to accomplish that with the 100 block of turnover, assuming the 100 Solidarity Fund the remaining employees are excluded from the agreement in 2008 because their applications were in excess of those scheduled, the remaining 300 people who have already completed the pension requirements and will go dormant with the windows next year.

To sweeten the pill, the management reminded how good built between 2007 and 2009: over a thousand employees fixed-term stabilized the network in more than 120 (14 870 at the end of 2009). But pending the negotiations, which will snap at the end of the month, the unions demanded the confirmation of voluntary and total expenses above the new organizational model of the group, which has not yet been presented.

Figures

880

The outputs 2010-2011

To be implemented with blocking turnover, retirements Solidarity Fund and the credit

80

New hires

provided by agreements signed on the establishment of the group in July 2007

€ 105 million

Increased labor costs

The inertial effect on the accounts in the case of no structural

€ 50 million

The Cutting structural 2011

The request of the bank unions' cost

(See previous posts on Banco Popolare)

Fotos Navideñas En Country

B - Irish, Italian banks exposed to 28,6 miliardi di dollari a marzo

B such as banks - Irish, Italian banks set for $ 28.6 billion in March

The Italian banks are less exposed against 's Ireland : only 28.6 billion dollars 30 March, less than 3.4% of overall international banking system to Dublin, on the same date stood at 843.8 billion dollars. He explains the Bank for International Settlements ( Bank for International Settlements , Bis) in the BIS Quarterly Review September. Among other things, according to the latest figures, for the first quarter of the Italian banks have reduced by almost 5% of its net exposure in the banking system of the former "Celtic Tiger". A case virtuoso of "attention", then.

Here is the text and data of the BIS.

are increasing banks' exposures to Greece, Ireland, Portugal and Spain (1)

BIS reporting banks have increased the overall exposures (2) to residents of Greece , Ireland, Portugal and Spain , despite the increasing pressures of the market that were the subject of these countries. The overall expansion of 109 billion dollars (4.3%) resulted in the reporting banks' aggregate exposure to this group of economies to 2.6 trillion dollars.

In the case of Greece, the total exposures increased by $ 20.7 billion (7.1%), reflecting an increase of 21.6 billion dollars (29.3 %) of the "other exposures", which is due mostly to an increase of 18.1 billion dollars (54.0%) of outstanding credit. On the other hand, foreign assets decreased by $ 0.9 billion (0.4%). Inside, they have increased the uses to be non-banks and the public sector, respectively, $ 4.0 billion (4.7%) and 0.8 billion dollars (0.8%), but their increase was more than offset by a decrease of $ 5.7 billion (16.9%) of those banks.

BIS reporting institutions have also increased exposures to residents of Spain and Portugal. Although the foreign assets in the period to Spain have decreased by $ 10.3 billion (1.2%), the total exposures to residents of the country rose to $ 17.3 billion (1.5%) for effect of an increase of 27.6 billion dollars (11.8%) of other exposures. The overall exposures to Portugal increased by 10.6 billion dollars (3.2%), with growth in both foreign assets and other exposures (respectively, $ 5.8 billion, 2.3%, and 4.8 billion dollars, 6.1%) . English banks increased their exposures to the residents of Portugal, for $ 5.2 billion (4.7%), ie a greater extent than banks in other countries.

(1) The analysis rests on the two following subsections BIS consolidated international banking statistics on an ultimate risk basis. Since this set of data does not provide a breakdown by currency, all flow variables are purged of the effects of exchange rate assumption that total exposures to residents of Greece, Ireland, Portugal and Spain is denominated in euro.

(2) The total exposures consist of two main components: foreign assets and other exposures. In turn, foreign assets are made up of cross-border and local claims in all currencies, and other exposures are due to positive market value of derivative contracts, guarantees and credit commitments.

(See previous posts on Bis)

Mucus 1 Week Before Period

B come banche - Umberto Ambrosoli chiamato a vigilare sull'amministrazione straordinaria di Bcc Offanengo

B come banche - Umberto Ambrosoli chiamato a vigilare sull'amministrazione straordinaria di Bcc Offanengo

Dal «Sole 24 Ore» di giovedì 7 ottobre 2010, pagina 38

Banche. Dopo Giorgio, Umberto

Bankitalia chiama il figlio di Ambrosoli

the Bcc Offanengo - The 39 year old criminal lawyer, son of the liquidator of the BPI had assassinated by Sindona, oversees the institute Lombard struggling with heavy losses

Nicola Borzi

Offanengo , less than 6 thousand inhabitants 5 km from Crema, Milan is not certain. His Bank credit cooperative never comes to the rank at which 35 years ago Accustomed the Italian private bank . Among the shareholders of small Bcc anyone, it we are sure, has a "size" is comparable to that of Michele Sindona . Yet among the infamous private bank and virtually unknown institution cremasco there is a strong bond, very strong: it runs from father to son. From George to Umberto Ambrosoli . That two days ago, along with Livio From Rugna and Gian Pietro Castaldi, was appointed a member of the Monitoring Committee called to replace the corporate bodies and assist in the administration's extraordinary Bcc, headed by Commissioner Sergio Mauriello.

is not the first time that inspectors Bank of Italy and the Guardia di Finanza fall in that of Offanengo. It had already happened in 2007 when the Via Nazionale impose sanctions on directors, auditors and the Director for not reporting "to the supervisory positions to anomalous and expected losses." Groped a bad habit of hiding the dust under the carpet runs well between the Bcc karst, as evidenced by the story of another institution Lombard MantovaBanca 1896, the police recently because of a "hole" from 27 million.

The remaining chance to avoid worse problems to have vanished a few bank Crema months ago, with the failure of two attempts to "marry" with neighboring institutions, dissolve the difficulties in the strongest assets. Because at the end of 2009 the accounts of the Bcc marked non-performing loans to 7.6 million, 17.6 for doubtful debts and past due loans by 1.5. Impaired loans, net of depreciation, totaled 27 million on loans of less than 110. The statement marked losses for 9.1 million, shareholders' equity was reduced to 7.14 million.

The tiny school (five branches, 31 employees) is in fact in serious trouble. But they are not comparable to the hole from 207 billion lire in 1974 marked by the Bank Italian private. A sum which, revalued, now exceed one billion euro. Furthermore, the Bcc behind it has neither the plot of international intrigue nor connection with the Mafia and P2 that marked the destiny of the Institute of Sindona of the same bankrupt and its liquidator Sicily.

The task that now awaits the 39 year old criminal lawyer in Milan is so much easier and infinitely less dangerous than he took over his father. But the sense of duty, "no matter what happens," as George Ambrosoli wrote prophetically to his wife four years and a half before the night of 11 luglio 1979, quando cadde sotto i colpi di un sicario armato da Sindona, è certamente lo stesso dell’uomo che il figlio non ama definire "eroe", omaggio che gli attribuì il titolo di un bel libro, ma semplicemente "esempio". Un’eredità che Umberto Ambrosoli porta avanti e condivide.

(Consulta i post precedenti su P2, Sindona e Calvi)

Darmowe Hostingi Php I Mysql..

B come banche - Abi, Mussari contesta Basilea 3: "Non considera le vere cause della crisi"

B come banche - Abi, Mussari contesta Basilea 3: "Non considera le vere cause della crisi"

Crisi: Mussari, no to new taxes disguised as stabilization measures

EU measures would disadvantage on international markets

(Il Sole 24 Ore Radiocor ) - Rome, 06 Oct - "We are opposed to new taxes" disguised "by measures to stabilize the banking and financial markets." The ABI said the chairman, Joseph Mussari, at a hearing on 3 in Basel Committee on Productive Activities of the Chamber. "The Italian banking sector - said Mussari - did not receive any public funding per fronteggiare la crisi ed é soggetto a livelli di tassazione molto elevati, superiori a quelli dei propri competitor europei e internazionali. L'imposizione solo a livello Ue potrebbe peraltro generare svantaggi competitivi sui mercati internazionali".

Mct-Nep

(RADIOCOR) 06-10-10 15:11:31 (0251) 5 NNNN

Basilea 3: Mussari, non tiene conto modelli business e vere cause crisi - 1

(Il Sole 24 Ore Radiocor) - Roma, 06 ott - "Le Italian banks share the need for a new framework of rules; Basilea3 does not take adequate account of the different business models and the real causes that triggered the financial crisis. "The criticism comes from the president of ABI, Giuseppe Mussari, which Productive Activities Committee hearing in the House stressed the "very rigorous approach to the capital and the choice to overshadow other measures is detrimental to the economies that are pin on banks for their financing." It should be borne in account, warned Mussari, of the importance of banks in Italy and generally in continental Europe, where the banking channel is given precedence over market in corporate financing. In any case, "the rules of being adopted are the result of great rigor and the Italian banking system is able to cope with them and respect them." But be careful, he warned, that does not happen as with Basel 2, the U.S. still have not done: it must be truly global.

Mct-NEP

(Thomson Financial) 10/10/2006 15:24:55 (0257) 5 NNNN

Basel 3: Mussari, does not take into account business models and real causes of the crisis - 2

(Il Sole 24 Ore Thomson Financial) - Rome, 06 Oct - Mussari welcomes the provision for a transitional period, it will address several issues at the national level and in particular a point which is considered essential by the Italian Banking: the deferred tax assets. It 's a node, Mussari warns, has "potential general reflections on the economy." The president of ABI, stating that "the profitability of banks is an important element that will stimulate economic growth," noted that "it depends on financial stability, financing and investment, protecting the assets of the ruler of the listed banks." It should therefore be avoided, he said, that "in light of the major requirements more stringent capital and liquidity constraints will reduce the resources available for funding the economy and the resulting potential adverse consequences for economic growth. It 's a perspective that we must challenge." More generally, he concluded Mussari, "Basilea3 be an opportunity for a renewed commitment to improve the dialogue-banking firms, mutual knowledge and the provision of all information necessary to make the projects eligible for funding they deserve" .

Mct-NEP

(Thomson Financial) 10/10/2006 15:33:50 (0263) 5 NNNN

(Consulta i post precedenti sull'Abi)

(Consulta i post precedenti su Basilea 3)

I-catcher Console - Web Monitor Chicago

B come bancari - Fabi: l'Abi ha chiesto la riforma del Fondo esuberi

B come bancari - Fabi: l'Abi ha chiesto la riforma del Fondo esuberi

Riceviamo dalla Fabi e pubblichiamo:

'Surplus Fund : Abi asks reform

was held October 4 in Rome, Palazzo Altieri, the meeting called by ABI to discuss a possible reform of the Solidarity Fund , cushion the social sector.

The employer association, given the large burden of the Fund totally financed by banks, has called for partially reformed.

It is activated in all its parts. Even in those now become a dead letter, which provide for the temporary suspension of work and the reduction in case of crisis or business.

In particular on this point the banks in their draft reform have suggested extending the maximum period of suspension work, from the current 18 to 36 months, the reduction of working hours for a maximum of 48 months with a corresponding drop in salaries and to limit to 48 months from the current 60, the grant of the extraordinary exodus.

"It was a meeting merely tentative, "said Augusto Mastropasqua, head of the department Contracts of Fabi," we said on our side willing to discuss the draft reform as long as you retain all economic guarantees for the protection of redundant workers and to maintain of the principle of voluntary redundancy. "

As for the proposal to apply a kind of layoffs in the sector, providing the classic measures of working temporary reduction or suspension of work, Fabi were in favor of talking about it . "If there are tools that can servire ad evitare i licenziamenti, ben vengano», ha dichiarato Mastropasqua.

(Consulta i post precedenti sull'Abi)

(Consulta i post precedenti sul Fondo esuberi)

Cover Letter To A Car Shop

B come banche - Bpm: cambio al vertice in Selma, Coppini a presidenza di JV con Mediobanca

B come banche - Bpm: cambio al vertice in Selma, Coppini a presidenza di JV con Mediobanca

(Il Sole 24 Ore Radiocor) - Milano, 05 ott - Nuovo ingresso al vertice di SelmaBipiemme , la joint venture tra Mediobanca (che controlla il 51% del capitale) e Bpm attiva nel settore del leasing . La Banca Popolare di Milano , secondo quanto risulta a Radiocor, ha indicato Giuseppe Coppini per la presidenza della società. Coppini succederà a Beniamino Anselmi , che a fine giugno si é dimesso dal cda della capogruppo dopo essere stato nominato nel board di Banca Monte Parma . Per i vertici di Bpm, intanto, si prepara un roadshow nelle sedi locali del gruppo per una serie di incontri di aggiornamento sull'attuazione del piano industriale. Nei prossimi giorni il Director General Fiorenzo Dalu and the sales manager and then will visit, among others, the offices of Bologna, Foggia and Rome.

-Y-PPA

(Thomson Financial) 10/10/2005 20:22:55 (0461) 3 NNNN news

(See previous post about BPM)