Monday, May 17, 2010 HOME SWEET
CASTA
From "Made Daily"
Ministers, 007 trade unionists: the binge of apartments for rent Enasarco bargain. And ready to buy with "maxisconti"
Daniel Martin
Credit default swaps, derivatives, hedge funds? The vivid imagination of magicians of finance is nothing compared to that of creative block. All'Enasarco, supplemental security agency of sales representatives owner of 17 000 flats, is in fashion for the rental of real estate adjacent to bargain with delayed blast worth hundreds of thousands of euro.
Not for everyone, of course: the occasionissima is restricted to a circle of ministers and former under-secretaries, politicians, trade unionists, MPs, intelligence officers, senior management of the state, the same manager Enasarco. More family courts. The list is long. A few names: Elio Vito (PDL), Minister for Relations with Parliament, the Northern League's Roberto Castelli, Deputy Minister of Infrastructure, Massimo Sessa, a close associate to the Board of Public Works of Angelo Balducci, one of the "clique" of the manufacturer Anemone Diego . And then Mrs. Joy Rabà, wife of the UIL union Boco Brunetto at the same time is also president dell'Enasarco, Girolamo Sirchia, Minister of Health in the former government of Silvio Berlusconi, Donald Bonanni, son of Raffaele, secretary of the CISL, Benedict Adragna (Pd), senator and superintendent of the Senate, the former president of football Perugia, Luciano Gaucci, the elusive secret agent Pio Pump, the files of anti-Prodi.
The mechanism is how the system works. The institution, a public time and then privatized and transformed into a foundation, is an owner of property bendiddio, 80% in Rome, made in the budget of € 3 billion, but that market prices are worth more, from 4 to 6 and a half billion. Not all apartments are the same, of course, not everyone is valuable, indeed, most find themselves in modest conditions, with low maintenance, in the process of rapid deterioration. Like the 8-story barracks in St John Bosco on the avenue Tuscolana, for example, inhabited by at least 4 000 people. Here it is possible that with Enasarco the tenants to give up wearing white gloves and those of iron, by imposing an age minimum or near-doubling of the rent by appealing to the need to enforce the rules. It has already happened hundreds of times and it will happen again. These are not the private houses to the powerful, however, will be missed. Tenants of respect, it is the best, penthouses, attics, apartments facing with sensational, in prestigious neighborhoods, from the Nomentano Parioli Ponte Milvio, often with proper restructuring of the institution prior to load before signing the contract rent. A contract that incorporates several months, in fact, a double advantage. The first is the same rent, "facilitated" by definition, that is the result of agreements between the institution and the unions of the tenants. Put another way: a price to be licking their chops to renters of luxury.
examples. Deputy Minister Castelli all'Enasarco pay 600 € for an apartment in an elegant tree-lined street close to Villa Doria Pamphili. To get a meter of comparison: the Esquiline, central area for a cellar of 10 square meters have to pay 300 €. The fee of the minister Vito is 1,600 euro for a house plus a basement, plus a walk-in Ponte Milvio, in a prestigious area north of the capital. The chief executive of the Board of Public Works, Massimo Sessa, lives for 1,250 € a luxury apartment at the back of Villa Torlonia, in a neighborhood dotted with embassies and Art Nouveau villas. In the same building, but in a more prestigious position, the attic, took home the President's wife Enasarco, Mrs. Raba. Pay € 1600 per month and also included a box. Again: a house Enasarco Girolamo Sirchia, the father of anti-smoking laws, Health Minister Berlusconi of the past, recently convicted on appeal for embezzlement, 300 000 Swiss francs withdrawn from the foundation "Blood", of which he was treasurer. Pay € 1,500 per month for an apartment on Nomentana. Luciano Gaucci and Pio Pompa live in another area of \u200b\u200bthe city, close to the ex Fiera di Roma, and neighbors. Gaucci occupies the first floor and pays about € 700 per month, is the second pump. Bonanni also live near Donato and Senator Adragna who took in the area of \u200b\u200bthe Foro Italico. Bonanni, however, for a fee of 1,000 euro per month, only 600 Adragna. The bubble
The second advantage of a rental Enasarco is deferred and is the right of first refusal to purchase the apartment at a bargain price. And in 2050, but now almost. The agency is launching the sale procedures on the basis of a resolution for sale of the entire real estate approved by the Board of Directors at its meeting on September 18, 2008. Operation will be huge: 2 million 300 thousand square meters on the market, a matter on which it is in many slingshot that can affect property prices in the capital and also at national level. Like all major operations, although this has been given a code name, is called "Mercury", greek god of merchants (and thieves), because the Enasarco is their body, being subsidiaries of the above Confcommercio, led Como by Carlo Sangalli, a great admirer and sponsor of Berlusconi. The apartments will be sold on an "average value of the collections of the Centre Real Estate Agency of the territory "derived from the prices stated in the notarial deeds, usually less than the real market. More than a discount of 30 and in some cases even 40%. Dry the jackpot. For those who have the money to buy, however, for renters normal, ie for the vast majority of tenants Enasarco, will be the beginning of an ordeal. The organization claims to have studied for them, in agreement with the unions, and stringent forms of protection for mortgages. But there is little to help when a family enters into a salary only enough to barely make ends meet or if the tenant is a senior at a minimum. The vast majority of the approximately 50 000 inhabitants Enasarco buildings in danger of being pushed into the hall of the group of homeless. For renters of luxury, however, will be more than just a lucky unexpectedly, the cube will be a bargain: they can turn the renting of a purchase beneficial to sell then maybe 5 minutes after the real market price. As easy as drinking a glass of water. We have the apartment is worth a million (and among those granted to privileged any), the gain can go dry for a minimum of 300 000 € to 400 000 and passes.
Mysteries and budgets
Enasarco But because he wants to sell the real estate bought over a quarter of a century the money of the members? And it intends to do so despite a year ago acquired for € 50 million through real estate funds shares of Chrysler and Flatiron skyscrapers in New York and to the tune of € 180 million through the tunnel Alberto Sordi, a stone's throw from the House, the family of builders Toti after she had been subjected to renovation by suppliers of Anemone? According to official information, the institution sells to "improve the asset allocation and the stability of the actuarial balance sheet." In other words, to make cash because the accounts do not add up, especially not enough what is called the "actuarial", that is the heritage guaranteeing the payment of pensions 110 000 350 000 current and future. By law, social security institutions must be able to count on a lung economic and financial guarantees for the payment of pensions for at least 30 years el'Enasarco is not in these conditions. But selling all the buildings is the solution? And to do what then? Skyscrapers in Manhattan to buy? To invest in credit default swaps or derivatives? Or maybe in those financial vehicles Anthracite guaranteed by Lehman Brothers that it Enasarco time ago, Scott put in the portfolio for good?
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