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EFES NEWSLETTER - DECEMBER 2008

Time to buy (bis)
"Workers of the world unite. Don't down your tools but buy a slice of the action. There couldn't be a better time to start learning to love equity - owning shares and investing in business... It is counter-intuitive but with the stock market at rock bottom, this is a great moment for the British worker to swap being a wage slave for owning shares through employee share schemes or investing on the stock market. Taking part in cooperatives or partnerships could be explored too..." (British press). Just as we already pointed in October, it is remarkable that most debates about employee ownership are going in the same way: Time to buy.

Panic at the European Commission
Difficult time to face. Too difficult for the present European Commission, at least regarding employee ownership. Ignorance, incompetency, what else? This has to be changed. We call for a renewed Commission with real competency in the matter. Letters were addressed to Josť Manuel Barroso and to Nicolas Sarkozy. See detailed information

Press review
Much new information about employee ownership in November 2008, with 1.278 articles in this press review (on which 502 involving stock options and 270 about workers' cooperatives). We made a selection of† 61 remarkable articles in 11 countries: Australia, Canada, France, Germany, India, Ireland, Italy, UK, USA, Slovenia, South Africa.
Australia: Time for discussing remuneration and corporate governance (see also deep discussions in the UK, in France and others).
Canada: Bailouts through new workers' cooperatives.
France: Much discussions about employee share ownership in the framework of falling quotations. New employee share plans in large groups: Vallourec, Rexel, Axa. New workers cooperatives proposed for bailouts.
Germany: Growing interest for employee ownership matters following the new legislation which will be in force in 2009.
Ireland: Going to a fifth take-over for Eircom (35% employee-owned).
India: Time for repricing stock-options.
UK: Fascinating that that one of the bidders trying to rescue Woolworths (30.000 employees) wants to turn it into an employee-owned business. Employee-owned retailer John Lewis going to open its first department store outside UK. A look at Loch Fyne Oisters company converted to employee ownership.
Slovenia: The new government confirms that employee share ownership will be supported.
USA: How to save the Auto industry? How Chrysler 1979 bailout worked? What about employee ownership?

The press review is available on:
              http://www.efesonline.org/PRESS REVIEW/2008/November.htm 

A political roadmap for employee ownership in Europe

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   With best regards

 

 
 

Marc Mathieu
Secretary General
EFES - EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
E-mail: efes@efesonline.org
Web site: www.efesonline.org
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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