Could HYY have avoided his economic tutorial? This is how the former decision -makers evaluate
University of Helsinki|HS asked three former HYY decision -makers what they think about the student union’s financial mess.
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The financial difficulties of the University of Helsinki Student Union (HYY) have sparked debate among former decision -makers.
Ylva, who manages HYY’s assets, sells the rest of the Lyyra Quarter to Swedish real estate investment company Niam to fold the debts.
Former decision -makers point out that HYY has a long history as a property owner and has previously taken risks.
World The recent economic spots of the University of Helsinki Student Union (HYY), often named the richest student union, have aroused a lot of debate and a variety of emotions among HYY aluminum, says HYY’s activities many times in the early 2000s Arto Aniluoto.
« Some (alumni) think that Satan’s tuners were done now, but it’s just one perspective. Easy it is shouting from history. »
Aniluoto served as Secretary General of the Student Union from 2005 to 2008 and in 2012-2013 as Vice Chairman. Today, he works as a development manager for the Science Information Technology Center (CSC).
According to Aniluoto, he is, of course, annoyed that HYY has lost his wealth in real estate business with errors made.
Arto Aniluoto photographed in 2005 after he was elected Secretary -General of HYY. Today, he works as a development manager for the Science Information Technology Center (CSC).
HS reported earlier in Marchhow HYY is in danger of even losing all his funds.
« But I don’t want to morally criticize. Each generation is allowed to make their own decisions that they see, and of course, there have been a lot of things that have been difficult to predict. »
That’s what the writer thinks Markus Leikolawho chaired the Student Union Board in the 1980s. The corona pandemic and the Ukrainian war have been « continental slabs » that caused big fluctuations in the entire real estate industry, he says.
« It’s hard to imagine the kind of action that could have been protected from them. »
HYY’s A recent financial mess is not the first of its kind in student business. Leikola and Aniluoto remember the Ekomen company, founded by the School of Economics Student Union in the 1980s, which in four years went bankrupt.
Now the creditor in order to make HYY’s property management Ylva said on Friday Selling the rest of the Lyyra block in Hakaniemi to the Swedish real estate investment company Niam.
Known as a journalist and writer, Markus Leikola photographed in 2016.
According to HS, OP and other financial banks have put pressure on the Ylva to sell valuable properties on a quick schedule
Time will tell if Lyyra’s sales are sufficient to balance the economy, Aniluoto thinks.
« Is the need for creditors’ liquidity at some point and whether the (company) entity in such a balance that you can go with it or not. »
HYY has a long history as a property owner. Its first acquisitions are inherited from the late 19th century. In the past, the Student Union has taken risks, for example, in the reform of the Kaivopiha, Leikola recalls.
« After all, HYY had a huge debt burden already in the 1980s and there was a close talk with banks all the time. I wouldn’t start to draw too much conclusions. »
For example, during Leikola, the business of Kaivotalo, owned by HYY, was built around renting office and office space.
« As a result of telecommuting, the entire office market has been new. Changes in the environment that affect all financial activities have always been and will be. »
Millennium Fiskars Public Relations Director Jan D. Oker-Blom He remembers how the Student Union has had any business over the years, such as a travel agency and restaurants.
Even the Wall Streel Journal made praise thing In 2000, HYY’s business empire.
It crystallizes HYY’s problems in the eyes of the Oker Blom.
Jan D. Oker-Blom photographed in 2021, while he was still Mayor of Loviisa.
For him, HYY should have understood to focus on the essentials, that is, pursuing students’ affairs, lobbying and running ancillary activities. At the same time, it is not possible to make business and give it a direct advantage to the organizations, says Oker-Blom.
« In the past, I should have diversified and move from operational activity to more property management, to a decentralized portfolio whose return serves students. »
Oker bloom students may not be the best government material to decide on operational activities. In retrospect, I would have had to understand what threats were related to the long-term CFO of HYY and the CEO of the HYY Group, the current Ylvan Tapio Kiiskinen He retired at the turn of the millennium, Oker-Blom analyzes.
After that, the HYY government began to take more risks.
Aniluoto ponders the same. He remembers how Kiiskinen always talked about « we are marathoners, not exhausted in spurs. »
« In my time, when a third student’s house was made, construction and furnishings were financially considered, but not enough to think about the annual operating costs after that. »
