EFES NEWSLETTER - MAY 2010
conferences in Rome and in
Two major European conferences will be held in Rome
on September 16-17 and in Brussels
on November 26, 2010. The conference in Rome
is about "Exercising employee shareholders' rights
in European companies". Which are the good practices?
Which models, which obstacles across Europe?
Could it be more effective? The conference in Brussels
will be part of the programme of the Belgian Presidency
of the European Union – "Ten years of public policies
for employee ownership in Europe
– past, present, future". Read
cat is a cat
A cat is a cat. This is the present debate in the European
Internet Forum on Employee Ownership. The financial crisis
brings new political awareness about employee ownership
which increasingly appears the best option for its contribution
to healthier corporate governance, long term vision and
stability. The old concept of employee financial participation
appears now obsolete and confusing. It's easy for you to
join the Forum. Read more
of teeth in France
transposition of the Shareholders Rights Directive sets
teeth on edge in France. The member
states of the European Union have to transpose the Directive
into their national legislation. This one aims to facilitate
and encourage effective shareholder control in EU companies.
However, France failed to implement it in due
time. Furthermore, the transposition project by the Ministry
of Justice brings new difficulties and obstacles. Read
Much new information about employee ownership in April
2010, with 1.803 articles in this press review (on which
723 involving stock options and 488 about workers' cooperatives).
We made a selection of 39 remarkable articles in 13 countries:
Bahamas, Canada, France,
Australia: An employee buyout
of Forest Enterprises Australia would be possible - the
Australian Employee Buyout Center at work.
Employee stock ownership is something that has been the
trend for at least 20 years in trade union movement.
The risks of selling companies to employees.
Debates are still open about taxation on employee ownership.
Several employee buyouts at various stages. Twenty years
of employee ownership for Eiffage (33% employee-owned,
65.000 employees). Employee savings rebounded in 2009 (+19%
but still -3% compared to 2007) in 230.000 companies (+9%).
Suzlon Energy has begun a mega HR exercise; of the total
11,000 employees, at least 90 per cent of employees will
be granted 1,500 share options each.
Free bonus shares for all employees in coal mines. The new
privatisation plan is now at work, also through a dedicated
Employee-owned companies (sociedades laborales) as
an alternative to the financial crisis.
Delivery of shares to the participants in the long-term
share-savings program, Skanska Employee Ownership Program.
How to improve the public sector procurement process? The
John Lewis business model – in particular, employee
ownership – is attracting interest among politicians desperate
to find ways to deliver more with less. Labour, the Conservatives
and the Liberal Democrats all support a new wave of workers'
co-operatives. Transparency still awaited about the UK Employee
Ownership Index, showing that employee-owned companies outperform
those from the FTSE all-share index.
USA: ESOP no fable; employee
ownership becomes more attractive. Employee stock ownership
plans, or employee-owned businesses, actually gained in
popularity during the Great Recession. According to statistics
from the National Center
for Employee Ownership (NCEO), there were 11,400 ESOPs in
the United States
in 2009, roughly 400 more than in 2008 and 800 more than
The full press review is available
political roadmap for employee ownership in Europe
EFES needs more members. Download the EFES membership form
new on the EFES website?
NEWS distribution: 165.000