Like Enron, Palmara likes complex debt and derivatives transactions too much, and often uses complex overseas institutions, including its subsidiaries, to conduct related transactions. It is difficult for many investors and banks to know its balance sheet, and it is also difficult to accurately evaluate its debt situation. Therefore, due to the lack of necessary financial transparency of Parmalat, investors can't grasp the real stock market, resulting in huge losses.
Perhaps people should learn a lesson from Parmalat's bankruptcy: although a company once had the spirit of innovation and enterprising, a strong brand with promising prospects, a broad marketing market and a large amount of sales revenue, once the company's top management violated the original intention of starting a business and obtained temporary benefits by deliberately designing financial puzzles to deceive investors and credit institutions, it would eventually be abandoned and mercilessly punished and abandoned by the market.
Extended data:
Marat parm alat is a typical Italian family business group with operations in 30 countries around the world. * * * has more than 36,000 employees and an annual income of more than 7.5 billion euros. It was once regarded as a representative of successful enterprises in northern Italy.
But a week ago, Parmalat was the largest dairy giant in Italy. In a blink of an eye, the news broke out one after another: a black hole of 65.438+043 billion euros appeared on its balance sheet; The company applied for bankruptcy protection; Parmalat's stock fluctuated violently until it was finally suspended.
Judicial and financial institutions quickly intervened; Creditors publicly announce the recovery of investment; Callisto Tanzi, founder and chairman of the company, was jailed? In just over two weeks, Pamarat, known as the milk empire, ended the myth.
Baidu Encyclopedia-Pamarat