EFES NEWSLETTER - JUNE 2007
to the new Member States of the European Union
EFES requests all new Member States to adopt a legislation
allowing common employee share plans. Most new Member States
have a bad opinion about employee share ownership and they
don't have any adapted legislation. This makes things difficult,
not only in these countries but in the European Union as
a whole, because most new Member States being not interested
or even hostile, political interest for employee share ownership
fell dramatically also in Brussels !! More
Russian Employee Ownership Association
An international conference on employee ownership in
Russia was held on June 7-8, 2007 in Rostov-on-Don, Capital
of South Russia (city of Essenin, Tchekhov, Soljenitsin,
etc), being hosted by the Rostov State Economic University.
The Conference decided to set up a new Russian Association
for Employee Ownership, and EFES will help.
differences between European companies
In former issues, we underlined the fact that employee share
ownership shows major differences between European companies
in the same sector. Let's see how it is in insurance, media,
hotels and health services (see column on right side).
Much new information about employee ownership in May
2007, with 1.461 articles in this press review (on which
684 about stock options and 223 about workers' cooperatives).
We made a selection of 39 remarkable articles in 12 countries:
Austria, Barbados, Botswana, Spain, France, India, Italy,
Kenya, Morocco, UK, USA, South Africa.
Employee share ownership is the darling of new Minister
of Finance Molterer.
The People's Empowerment Party wants more employee share
ownership programmes established by corporate Barbados.
Botswana: Government announces that employees would
be given an opportunity to own shares in the newly privatised
Air Botswana through an Employee Share Ownership Plan.
Bask Federation of Employee-Owned Companies (ASLE) celebrates
its 25th anniversary. Josetxu Hernández assumes that "our
companies couldn't be delocalised".
France: New developments in scandals about stock options: "Would stock
options be forbidden?" Essilor wants employee share
ownership going to 10% of capital and 20% of voting rights
to block any hostile takeover. Employee buyouts are multiplying
as workers' cooperatives (SCOP).
Italy: Employee shareholders' associations face mergers
in the bank sector.
New employee share ownership era in Morocco.
USA: New developments about a possible employee buyout of Chrysler. Trade
Unions' attitude got critics. The Chrysler Employee Buyout
Committee is also considering filing a lawsuit against pending
sale to Cerberus Capital Management. On the other hand,
ESOPs fever is spreading as an increasingly popular option
to do leveraged buyouts; in this context "employee-owners
need a say to succeed". Finally, Publix
Super Markets (31% employee-owned) are "the opposite
Africa: "Through privatisation and employee
ownership, we can make black empowerment (BEE) truly broad-based".
The press review is available
With best regards
This is how much an employee holds, in average, in shares
Sanoma 1.259 €
ReedElsevierNV 1.345 €
VNU 112 €
WoltersKluwer 693 €
ReedElsev.Plc 2.948 €
Pearson 701 €
Vivendi 9.517 €
Lagardère 9.182 €
Havas 117 €
WPPGroup 7.167 €
RTLGroup 3.407 €
TF1 47.053 €
BritishSky 6.299 €
Reuters 2.032 €
Zurich 751 €
SwissRE 7.319 €
Baloise 17.533 €
Allianz 2.114 €
MuenchenerRe 87 €
Generali 51 €
Aviva 1.354 €
Royal&Sun 285 €
WienerStädtische 768 €
SwissLife 915 €
AGF 32.408 €
Aegon 439 €
Prudential 3.494 €
GénéraledeSanté 2.477 €
Accor 1.121 €
InterContinental 7.240 €
FreseniusMed. 3.149 €
Celesio 2.189 €
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 €
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NEWS distribution: 80.000