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The European Employee Ownership Top 100 in 2006
The rankings of European biggest companies considering employee ownership are now available. The Top 10 companies for capitalisation held by employees are: UBS, Total,
Novartis, Mondragon, Deutsche Bank, Société Générale, BNP Paribas, Crédit Agricole, AXA, Bouygues. Employees hold 6,16% of those companies, which means 43.357 Euro by employee in average.
Click here for The European Employee Ownership Top 100 rankings in 2006

Sixth European Meeting of Employee Ownership
The Sixth European Meeting of Employee Ownership was held in Brussels on December 14-16. Click here for all presentations of the conference

Insolvency, Employee Rights & Employee Buyouts - A Strategy for Restructuring
A new report by Anthony Jensen, Ithaca Consultancy and The Common Cause Foundation

Three new original research works about employee ownership and participation in Europe
Patrick Guiol & Jorge Munoz made the demonstration that participative management contributes to better public health (French report)
Eric Kaarsemaker gave a theoretical and empirical treatise about employee ownership and human resource management and the Dutch context
Marco Caramelli made an attitudinal cross-cultural approach about the effects of employee ownership in large multinational companies

New British guidelines on employee share plans in 2007
The Association of British Insurers updated its guidelines on executive remuneration and employee share plans. Click here for detailed information

Job Ownership Ltd (UK) changed
Job Ownership Ltd decided to change its strategy and name. It is now the Employee Ownership Association on

Press Review   
Much new information about employee ownership in December 2006, with 1.474 articles (on which 561 about stock options and 219 about workers' cooperatives). We made a selection of remarkable articles in 13 countries: Austria, Canada, Switzerland, Germany, France, India, Ireland, Italy, Mali, Romania, United Kingdom, South Africa, USA.
The scandals about stock options and directors' remunerations got new developments in several countries.
In France, both main candidates to the French Presidency used stock options as a major theme for the new electoral campaign. On the other hand, the new French legislation for employee ownership is now voted, giving more facilities for employee buy-outs (Salariés, rachetez votre entreprise !) Employee ownership had to face conflictual developments in some major companies (Safran, Eifage, Libération) and a new call was launched for a European participative governance (Pour une gouvernance participative européenne).
In Germany, supports for stronger employee ownership seem to be growing. The SPD leaders made new proposals and some unions' voices expressed positive reactions. Finally, Bavarian Minister President Edmund Stoiber told about employee ownership (as "Investivlohn") as an answer to globalisation - just the same words as Gordon Brown some years ago, the same as President Jacques Chirac some months ago.
Austria seems also going to give stronger political support to employee ownership. In Austrian Airlines, employees could get a 10 to 20% share (same model as Flughafen Wien, Voestalpine, etc), while new discussions occur about employee ownership in AMAG.
In Italy also, employee ownership could be a good way for Italian airlines Alitalia.
Ireland:  Ryanair failed in its take over on Aer Lingus, and the Sunday Times gave the last word of the whole story (And finally...)
In India, successful employee buyouts in tea plantations and a good ABC of stock options
Mali: employee share ownership is developing in the telecoms.
South Africa: new black economic empowerment deals (BEE) through employee share ownership.
USA: SAIC - one of the biggest employee-owned company in the world (43.000 workers) is now public (No More Secrets at SAIC). On the other hand, value of Employee Stock Option Grants Declines Sharply Finally, the project of an employee buyout for Hoover failed, in spite of Officials vow to fight for Hoover

The press review is available on:
     REVIEW - December 2006.htm 

Happy Year 2007 !

WHAT ABOUT YOU? This is how much an employee holds in average, in shares of:
UBS  87.000 €
Total 47.000 €
Novartis 48.000 €
Mondragon 54.000 €
DeutscheBank 61.000 €
SocGen 38.000 €
BNPParibas 30.000 €
CréditAgricole 48.000 €
AXA 27.000 €
Bouygues 23.000 €
ErsteBank 5.738 €
Oberbank 17.761 €
Fortis 5.018 €
KBC 5.150 €
Dexia 47.932 €
HellenicBank 10.013 €
CyprPopBank 34.145 €
DanskeBank 1.296 €
JyskeBank 15.178 €
Commerzbank 12.500 €
DeutschePostbank 0 €
EuroHypo 8.396 €
BBVA 15.800 €
BcoPopEspanol 5.496 €
BSCH 977 €
Bankinter 34.584 €
Sampo 30.156 €
NatexisBquesP 8.840 €
CIC 1.590 €
Unicredito 1.374 €
BancaIntesa 3.320 €
SanPaoloIMI 1.190 €

BcaPopMilano 14.623 €
ABNAmro 783 €
ING 1.535 €
DnB NOR 23.459 €
MillenniumBCP 3.362 €
BEspiritoSanto 13.916 €
NordeaBank 4.478 €
SvHandelsbk 145.000 €
HSBC 6.267 €
RBS 16.149 €
Barclays 11.856 €
HBOS 16.900 €
LloydsTSB 24.261 €
StandardChart 8.179 €

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   With best regards


Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
Web site:
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.

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