The President's salary

Finally we get to know, only through the newspapers because of judicial proceedings, the amount of the salary of the President, which is charged to the members of the Consorzio Costa Smeralda. We have been asking for years that the Consortium clarify the accounts submitted annually in the official budget to the General Assembly, requesting details of expenses and salaries of managers, but always have been refused.

The bailiff last week seized the salary of Renzo Persico at the officies of Consorzio Costa Smeralda "(they say about 20,000 Euro per month)," having never paid a debt to the Giardini Tes of Cagliari of € 498,000, according to the Unione Sarda newspaper of May 20 .

The consortium fees are ever more burdensome and consequently the percentage of dissatisfied members who refuse to pay as a protest, has increased dramatically under the management of Tom Barrack’s Colony Capital and has risen from 5.8% in 2003 to 25.8% in 2010.

The Consortium members insist on knowing all the details of the costs charged to them, including the compensation of all officers and directors and their benefits as well as of outside consultants. They demand transparency, of which they are fully entitled.

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