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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 José 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
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A
political roadmap for employee ownership in Europe
What's
new on EFES website?
EFES
NEWS distribution: 105.000
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