EFES NEWSLETTER - JULY 2012
Employee Ownership Summit 2012
British Deputy Prime Minister Nick Clegg together
with Ministers Norman Lamb and Francis Maude organized the
first Employee Ownership Summit on July 4 in London. "We
are completely enthusiastic about employee ownership"
Norman Lamb said. "Never before, employee ownership
had so much attention in the UK." It is a fact that
the British legislation for employee ownership revealed
itself to be much less effective than the French one. More
Key recommendations to the British
Growing the economy is the British
Government's most pressing priority. The Government adviser
on employee ownership published its report, including his
28 recommendations to promote employee ownership in the
UK. The recommendations focus mainly on the promotion of
employee ownership in small and medium sized enterprises,
at least 25% employee-owned. More information
made a selection of 28 remarkable articles in 9 countries
in June 2012: Canada, France,
Germany, Ireland, Italy, Spain, Switzerland, UK, USA.
Canada: Ballots held at companies' annual meetings
this year show a growing trend to cast “no” votes, opposing
how much salary, bonus and stock options major companies
are giving executives.
France: Capital Ingenium's Annual Survey 2011 on employee
ownership and savings. France Telecom: Employee shareholders
want voting rights to be exercised by employee shareholders
themselves rather than by employers or by unions. Some typical
workers' co-operatives. The new socialist government will
support workers' coops. New employee share plan for Société
Germany: Deutsche Bank promotes employee ownership
in Germany. Doubts about employee share plans for Commerzbank.
Ireland: Eircom: Game over for employee ownership.
Italy: The ENEL
employee shareholders association joins the Interfaith Center
on Corporate Responsibility.
Spain: An island of safety in Andalucia.
UK: Deputy Prime Minister Nick Clegg and other political
figures want to see “responsible capitalism”, claiming firms
that are owned by their staff are “more dynamic” and have
higher morale. LSE chief calls for expansion of employee
share ownership schemes. Does
an employee-owned business model lead to better customer
service? British co-operatives have outperformed the UK
economy for the fourth consecutive year.
USA: An ESOP is a special type of retirement
plan that purchases stock of the business where the employees
work. Peerless Electronics is now an employee-owned company.
The full press review is available
political roadmap for employee ownership in Europe
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NEWS distribution: 200.000