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EFES NEWSLETTER - MARCH 2012

Employee ownership in European countries in 2011
The most recent numbers show that employee ownership was continuously progressing across Europe since the financial crisis. This is the main conclusion of the new "Economic Survey of Employee Ownership in European Countries in 2011". The conclusion was the same in 2010, this is thus a confirmation.
In 2011, 9.9 million employee owners held 232 billion Euro in their companies' shares compared to 9.5 million holding 197 billion Euro one year before. The number of employee owners increased more in Spain, Sweden, Denmark and France, while it was decreasing in Italy, Greece and Portugal as well as in Germany, Belgium and Ireland.
The survey brings exhaustive information. It is based on the census of the 2.505 largest European companies employing 32.8 million people in 2011. More information

Public hearing in the European Parliament on March 22
The European Economic and Social Committee recently launched a call on the European institutions and governments for a renewed initiative supported by the EU budget through a dedicated budget heading. Such a budget should help to set up and finance a European Center for Employee Ownership in each European country, to deliver information, training and advice to employees, enterprises and the public at large. The public hearing in the Parliament on March 22 will be the opportunity for a budget proposal.
Program of the hearing Budget proposal

With the support of
       

Press review
A selection of 38 remarkable articles in 7 countries in February 2012: France, India, Italy, South Africa, Spain, UK, USA.
France: Air France-KLM going to relaunch its employee share ownership It's the right moment when share prices are so low Maybe going to 20% of the companys' shares. Final decision for the rescuing plan as a workers cooperative for Helio-Corbeil. Syndex will be a new workers coop. New employee share plans for Spie and for Axa.
India: Sustainability of employee buyouts of companies in the plantation sector cannot be taken for granted.
Italy: Many questions about employee share ownership in Italy: Why is this country so belated in this field? New share plan for Italian employees in French Group Auchan.
South Africa: Around the world there are many versions of employee ownership. However, the models that really drive enhanced business performance are those that engage employees as real owners.
Spain: Employee-owned "sociedades laborales" in the Basque Country in 2011.
UK: British Government appoints adviser on employee ownership, to investigate how to increase the number of employee-owned businesses. Questions about Loch Fyne Oysters, this employee-owned company being sold to Scottish Seafood Investments. Staff at the firm voted unanimously in favour of the deal. The move marks the end of nine years of employee ownership at Loch Fyne, which was considered as an employee ownership champion in the UK.
USA: New legislation in Iowa: The Iowa Economic Development Authority wants the state to offer incentives to Iowa owners for selling part or all of a company to an ESOP, or employee stock ownership plan. Strange contrast: President Obama's corporate tax reform proposal would be particularly harmful to S ESOPs which Congress authorized in 1998.

The full press review is available on:
              http://www.efesonline.org/PRESS REVIEW/2012/February.htm 


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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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