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EFES NEWSLETTER - JANUARY 2007
The European Employee
Ownership Top 100 in 2006
The rankings of European biggest companies considering
employee ownership are now available. The Top 10 companies
for capitalisation held by employees are: UBS, Total,
Novartis, Mondragon, Deutsche Bank, Société Générale, BNP
Paribas, Crédit Agricole, AXA, Bouygues. Employees hold
6,16% of those companies, which means 43.357 Euro by employee
in average.
Click
here for The European Employee Ownership Top 100 rankings
in 2006
Sixth
European Meeting of Employee Ownership
The Sixth European Meeting of Employee Ownership was
held in Brussels on December 14-16. Click
here for all presentations of the conference
Insolvency,
Employee Rights & Employee Buyouts - A Strategy for
Restructuring
A
new report by Anthony Jensen, Ithaca Consultancy and The
Common Cause Foundation
Three
new original research works about employee ownership and
participation in Europe
•
Patrick
Guiol & Jorge Munoz made the demonstration that participative
management contributes to better public health (French report)
• Eric
Kaarsemaker gave a theoretical and empirical treatise about
employee ownership and human resource management and the
Dutch context
• Marco
Caramelli made an attitudinal cross-cultural approach about
the effects of employee ownership in large multinational
companies
New
British guidelines on employee share plans in 2007
The Association of British Insurers updated its guidelines
on executive remuneration and employee share plans. Click
here for detailed information
Job
Ownership Ltd (UK) changed
Job Ownership Ltd decided to change its strategy and name.
It is now the Employee Ownership Association on http://www.employeeownership.co.uk/
Press Review
Much
new information about employee ownership in December 2006,
with 1.474 articles (on which 561 about stock options and
219 about workers' cooperatives). We made a selection of
remarkable articles in 13 countries: Austria, Canada,
Switzerland, Germany, France, India, Ireland, Italy, Mali,
Romania, United Kingdom, South Africa, USA.
The
scandals about stock options and directors' remunerations
got new developments in several countries.
In France, both main candidates to the French Presidency
used stock options as a major theme for the new electoral
campaign. On the other hand, the new French legislation
for employee ownership is now voted, giving more facilities
for employee buy-outs (Salariés, rachetez
votre entreprise !) Employee ownership had
to face conflictual developments in some major companies
(Safran, Eifage, Libération) and a new call was launched
for a European participative governance (Pour une gouvernance participative
européenne).
In Germany, supports for stronger employee ownership
seem to be growing. The SPD leaders made new proposals and
some unions' voices expressed positive reactions. Finally,
Bavarian Minister President Edmund Stoiber told about employee
ownership (as "Investivlohn") as an answer to
globalisation - just the same words as Gordon Brown some
years ago, the same as President Jacques Chirac some months
ago.
Austria seems also going to give stronger political
support to employee ownership. In Austrian Airlines, employees
could get a 10 to 20% share (same model as Flughafen Wien,
Voestalpine, etc), while new discussions occur about employee
ownership in AMAG.
In Italy also, employee ownership could be a good
way for Italian airlines Alitalia.
Ireland: Ryanair failed in its take over on Aer
Lingus, and the Sunday Times gave the last word of the whole
story (And finally...)
In India, successful employee buyouts in tea plantations
and a good ABC
of stock options
Mali: employee share ownership is developing in the
telecoms.
South Africa: new black economic empowerment deals
(BEE) through employee share ownership.
USA: SAIC - one of the biggest employee-owned company
in the world (43.000 workers) is now public (No More Secrets at SAIC). On the other hand,
value
of Employee Stock Option Grants Declines Sharply
Finally, the project of an employee buyout for Hoover failed,
in spite of Officials vow
to fight for Hoover
The press review is available
on:
http://www.efesonline.org/PRESS
REVIEW - December 2006.htm
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Happy Year 2007 !
 WHAT
ABOUT YOU? This is how much an employee holds in average,
in shares of:
UBS 87.000 €
Total 47.000 €
Novartis 48.000 €
Mondragon 54.000 €
DeutscheBank 61.000 €
SocGen 38.000 €
BNPParibas 30.000 €
CréditAgricole 48.000 €
AXA 27.000 €
Bouygues 23.000 €
ErsteBank 5.738 €
Oberbank 17.761 €
Fortis 5.018 €
KBC 5.150 €
Dexia 47.932 €
HellenicBank 10.013 €
CyprPopBank 34.145 €
DanskeBank 1.296 €
JyskeBank 15.178 €
Commerzbank 12.500 €
DeutschePostbank 0 €
EuroHypo 8.396 €
BBVA 15.800 €
BcoPopEspanol 5.496 €
BSCH 977 €
Bankinter 34.584 €
Sampo 30.156 €
NatexisBquesP 8.840 €
CIC 1.590 €
Unicredito 1.374 €
BancaIntesa 3.320 €
SanPaoloIMI 1.190 €
BcaPopMilano 14.623 €
ABNAmro 783 €
ING 1.535 €
DnB NOR 23.459 €
MillenniumBCP 3.362 €
BEspiritoSanto 13.916 €
NordeaBank 4.478 €
SvHandelsbk 145.000 €
HSBC 6.267 €
RBS 16.149 €
Barclays 11.856 €
HBOS 16.900 €
LloydsTSB 24.261 €
StandardChart 8.179 €
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new on EFES website?
EFES
NEWS distribution: 80.000
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