"Getting to know each other, dialogue with..."
"GETTING TO KNOW EACH OTHER, DIALOGUE WITH..."
Date: November 28,
Time: 6:00 p.m. -7:00 p.m.
Special guest: Pierino Persico, Chairman Persico Group
This series of meetings is dedicated to enhancing the experiences of entrepreneurs and managers, highlighting their distinctive way of doing #entrepreneurship. The focus is on both the business, with its needs for competitiveness and profitability, and people, with their respective individual and family needs. To attend the event and receive the access link, you must register by sending an email to isvi@isvi.org
Solidarity and Services
Solidarity and Services
“Never alone again… Together we succeed!”: this is the vision of the social cooperative Solidarietà e Servizi, which for more than 40 years has been designing and managing integrated and personalized services, up to and including job placement, for people with disabilities. Founded in 1979 in Busto Arsizio, in October 2000 it received recognition as the first cooperative in the social sector established in the province of Varese. To date, Solidarietà e Servizi cares for more than 6,000 disabled, frail and disadvantaged people with responsibility, creativity and trust.
Paul Nusiner on the Superior Coordinating Council of the Pontifical Lateran University
Paul Nusiner on the Superior Coordinating Council of the Pontifical Lateran University
Councillor Paolo Nusiner, chairman of ISVI’s Institutional Development Committee, has been given another illustrious appointment, joining, by appointment of Pope Francis, the new Superior Coordinating Council of the Pontifical Lateran University.
Paolo Nusiner, former director of the Catholic University of the Sacred Heart, as well as director of the General Affairs Directorate of the Vatican’s Dicastery for Communication, will be entrusted with tasks of scientific, academic and educational guidance and planning within the Lateran University.
"Getting to know each other, dialogue with..."
"GETTING TO KNOW EACH OTHER, DIALOGUE WITH..."
Date: Nov. 7
Time: 6:00 p.m.-7:00 p.m.
Special guest: Nicola Lamberti, CEO Alimentiamoci
This series of meetings is dedicated to enhancing the experiences of entrepreneurs and managers, highlighting their distinctive way of doing #entrepreneurship. The focus is on both the business, with its needs for competitiveness and profitability, and people, with their respective individual and family needs. To attend the event and receive the access link, you must register by sending an email to isvi@isvi.org
John Drums
Giacomo
We talk to Giovanni Tamburi, Tamburi Investment Partners
DOING SYSTEM IN ITALY. THE ROLE OF FINANCE AND THE FUTURE OF BUSINESS ACCORDING TO GIOVANNI TAMBURI
This interview was done after the experience exchange meeting among business leaders organized by ISVI on September 24, 2024 in Bocconi University’s Sala Consiglio entitled “Making a System in Italy,” which is also the title of the latest book by Giovanni Tamburi, Chairman and CEO of Tamburi Investment Partners. We started precisely from some assessments of the role of finance to address the issue of the future of business.
In your book you talk about the “enormous power of finance” as a problem. Can you elaborate on what you mean?
In recent years, finance has gained disproportionate power, and this has become a problem. Finance should be a tool to support business, but today it has taken on too central a role. One of my hopes, as I also express in the book, is to see a scaling back of this power. It is enterprise that moves the world, not finance. It is entrepreneurs who create the value added that makes the economy work.
So has finance lost its original role? Has it become a kind of “big puppet master”?
Exactly. Finance was supposed to be a service, but it has turned into something too dominant. It needs to be returned to its original function, downsized. Fortunately, central banks around the world seem to have realized this, having made the mistake of keeping interest rates too low for too long. Money is a commodity and, as such, must have a price.
Speaking of which, what do you think of the economic measures taken during and after the pandemic?
During the pandemic, immediate intervention was correct, but the problem came later. Trillions of dollars were distributed without logic: 7 trillion in the United States, 800 billion in Europe. This phenomenon inflated the financial markets, especially in America, where people invest in the stock market almost with their eyes closed, following Wall Street trends as their only compass.
And what do you think of the increasing polarization of wealth?
This is a serious problem. A few earn too much, while most continue to earn too little. This imbalance is leading to paradoxical situations. Today, a huge amount of liquidity pours into the markets, sometimes irrationally. Stocks are bought at exorbitant prices, but real wealth remains concentrated in the hands of a few.
In your book you mentioned private equity as one of the excesses of the system. Can you elaborate on that?
Over the past two decades, private equity in general has brought benefits in terms of employment and development, but it has also created damage through excessive borrowing by many funds. Now, with interest rates likely to fall only gradually, this knot will come to a head very soon. This could create opportunities for solid companies that want to invest more rationally, without competition from funds that, in order to show that they employ money, have sometimes offered exorbitant amounts.
So is it shaping up to be a favorable season for businesses?
I believe that as early as these last months of 2024 we can see a positive season for solid and courageous companies. Entrepreneurs will be able to make acquisitions without competition from those funds, which, relying heavily on debt, often offer more than makes sense. This will restore centrality to industrial and commercial enterprises, which will be able to become market players again.
In your book you talk about “phony growth.” Can you elaborate on this concept?
“Phony growth” is the haphazard growth that is also illusory in some cases. We see over-indebted companies cutting costs in the wrong way instead of investing. Right now, the engine of the world economy is Asia, not the West. There is a growing demand for consumption and investment there, while we tend to cut back instead of investing more.
In your opinion, what should businesses do in this context?
Today businesses should increase investment, not reduce it. And, moreover, not only should they never cut staff drastically, but rather increase wages and salaries to retain employees. Also because many people are less willing to work long hours but eager to earn more money, so cutting costs let alone staff is not the solution.
How do you assess the attitude of banks in this scenario?
Banks are making a lot of money, distributing dividends and doing buy-backs, but they are not lending. This, combined with the lack of new stock market listings and the slowdown in private equity investment, creates a liquidity gap for companies. I believe, however, that new IPOs will resume soon, because it is the healthiest and most logical way to finance a business. I hope that this scenario will be realized soon, because I think it would be good for our businesses and the economy in general.
ISVI congratulates member Renato Bruno on receiving the "Best Entrepreneur" award
ISVI congratulates member Renato Bruno on receiving the "Best Entrepreneur" award
On Saturday, October 12, during the prestigious Gala Dinner of Generazione Distribuita, the organization representing Italian companies operating in the power generation and distribution sector, Renato Bruno, ISVI member and CEO of Bruno Generators Group, was awarded the “Best Entrepreneur” award.
This important recognition is a tribute to Renato’s achievements and successes throughout his professional career, the result of years of dedication and commitment to the industry.
On behalf of the entire ISVI team, heartfelt congratulations to Renato for this well-deserved achievement!
"Getting to know each other" ISVI listens to the stories of entrepreneurs.
"Getting to know each other" ISVI listens to the stories of entrepreneurs.
Date: October 31
Time: 18:00 -19:00
Special guest: Renato Bruno, CEO Bruno Generators Group
This series of meetings is dedicated to enhancing the experiences of entrepreneurs and managers, highlighting their distinctive way of doing #entrepreneurship. The focus is on both the business, with its needs for competitiveness and profitability, and the people, with their respective individual and family needs.
Renato Bruno is CEO and owner of BGG, an Italian company active in the power generation sector.
"Getting to know each other" ISVI listens to the stories of entrepreneurs.
"Getting to know each other" ISVI listens to the stories of entrepreneurs.
Date: Oct. 24
Time: 6:00 p.m.-7:00 p.m.
Special guest: Mario Paterlini, CEO SAPIO Group
This series of meetings is dedicated to enhancing the experiences of entrepreneurs and managers, highlighting their distinctive way of doing #entrepreneurship. The focus is on both the business, with its needs for competitiveness and profitability, and the people, with their respective individual and family needs.
Mario Paterlini is CEO of the SAPIO Group, which produces, develops and markets technical and medicinal gases, pure, ultra-pure, blends, cryogenic liquids, innovative technologies and services for the industrial world and the healthcare sector. It operates throughout the country with more than 55 branches and today also has a presence abroad in France, Germany, Slovenia and Turkey.
Since its early years, it has combined the commercial side with a genuine vocation for research and technological innovation, aimed at developing products and technologies that can improve people’s quality of life.
"Getting to know each other" ISVI listens to the stories of entrepreneurs.
"Getting to know each other" ISVI listens to the stories of entrepreneurs.
Date: Oct. 17
Time: 6:00 p.m.-7:00 p.m.
Special guest: Linda Gilli, CEO and President Inaz
This series of meetings is dedicated to enhancing the experiences of entrepreneurs and managers, highlighting their distinctive way of doing #entrepreneurship. The focus is on both the business, with its needs for competitiveness and profitability, and people, with their respective individual and family needs.
Linda Gilli is president and CEO of Inaz, an Italian company specializing in human resource management services, offering solutions, infrastructure and regulatory updates. Inaz aims to simplify and secure HR processes, supporting both Italian and multinational companies with international development or payroll projects.
Series of meetings RESERVED FOR HEADS OF COMPANIES FARE SISTEMA IN ITALY.
Series of meetings RESERVED FOR HEADS OF COMPANIES FARE SISTEMA IN ITALY.
Date: September 24
Time: 17:00 -19:30
Location: Bocconi University
“With the reputation that finance has earned in recent years, we should just be ashamed, all of us; but if you can channel sound capital, the fruit of successful businesses, long-term investors and family savings eager for smart deployment to companies that want to grow, develop, generate added value, you are doing one of the most useful jobs in the world.” The sentence is excerpted from “Fare sistema in Italia,” the latest book written by Giovanni Tamburi, chairman and CEO of Tamburi Investment Partners. Italian companies today, the international context, the real impact of PNRR, the investment dynamics of the players in the Italian financial market, from stock exchanges to private equity … of this and more we will talk with one of the most important Italian private investors reflecting together on his proposals to collectively face the challenges, truly making system.