http://www.vanguardngr.com/2012/04/businessman-gives-assets-worth-1-7-bn-euros-to-catholic-church/
This is indeed a sad story of a rich man who has died young and, it seems, spiritually alone. To have so much and yet so little seems to me the cruelest twist of fate.
More important to those of us in the industry is what the church will do with a gate automation equipment manufacturer.
FAAC is one of the biggest names in the industry and we must face the fact that it is now in the hands of people who know very little about the industry and whose motives and priorities have been the subject of debate for centuries.
Although they appear to have ruled out selling their stake to the minority shareholder group, there is much speculation in the industry as they would make an extremely appetizing snack for several of the very acquisitive companies who are no doubt circling in the hope of adding such a prize to their arsenal.
More interesting to me however, would be if they opted to run this mega operation in a truly ethical manner as indicated by their appointed lawyer.
Apart from a somewhat cynical debate that could be had about the ethics of manufacturing products that are specifically designed to protect the ‘Haves’ from the ‘Have-nots’, there is a vast expanse of progress that could be achieved in making a company like FAAC operate in a truly ethical manner.
In this day and age ‘ethical’ must include ‘sustainable’ as we all have responsibility for the planet and without it, where would we be?
The Church has always been in a position to use their influence for the good of all when they are so inclined, and in the acquisition of FAAC they could lead the way in the use of sustainable resources for what they produce as well as the manner in which they produce it.
They could also work hard to reduce their carbon footprint, which must be pretty enormous, and of course this is all in addition to maintaining high welfare standards for their suppliers and staff as well as excellent ethical customer service.
Operating in a proper ethical manner from start to finish is difficult to balance with a requirement to make profits, but since the Church is now the major shareholder perhaps they will set this aside whilst they create an example for the rest of the world.
Or will they end up selling out?
I for one will be excitedly watching their progress in the hopes of great things to come.
Automate My Gate 