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EFES NEWSLETTER - JULY 2008
New
research confirms employee-owned companies more productive
A new recent research on "Employee Ownership and
Participation Effects on Firm Outcomes" conducted
by Brent Kramer, a doctoral candidate at the City University
of New York, “provides strong evidence that majority employee-owned
businesses have a significant advantage over comparable
traditionally-owned businesses in sales per employee.” More information
Private Equity and employee ownership
Over the past decade, management and employee share ownership
has become a standard way for the private-equity industry.
It can even be said that management and employee share ownership
has become an established part of the private-equity toolkit.
More
information
Press
review
Much
new information about employee ownership in June 2008,
with 1.345 articles in this press review (on which 487 involving
stock options and 271 about workers' cooperatives).
We made a selection of 53 remarkable articles in 12
countries: Austria, Canada, Cayman Islands, Germany, France,
India, Ireland, Sri Lanka, UK, USA, South Africa, Switzerland.
Austria: Discussions continue about legislation,
employee ownership being underdeveloped in Austria compared
to other European countries.
Switzerland: Quite similar debates as in Austria…
Germany: … and also in Germany.
France: Several annual surveys about employee share
ownership and employee savings. New multinational employee
share plans in a set of French large companies.
Ireland: Bank of Ireland workers vote in favour of
strike action. The dispute centres on the company's decision
to cut their staff's share options.
UK:
Over the past decade, management and employee share ownership
has become a standard way for the private-equity industry.
On the other hand, it is well known that usual places for
heroes are mythology and cemeteries; what about oysters?
USA:
Employee ownership has its drawbacks! Polemicals about US
Sugar company: The New York Times carried an article
about the U.S. Sugar Company and its ESOP, suggesting that
the employees were cheated, and the National Center for
Employee Ownership places the issue in context. On the other
hand, there is expanding interest in forming employee-owned
worker cooperatives to take over businesses where owners
want to retire.
The press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2008/June.htm
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WHAT
ABOUT YOU?
This is how much an employee held in 2007, on average, in
shares of:
UBS 83.000 €
SocGen 49.000 €
BNP Paribas 38.000 €
Total 55.000 €
Novartis 61.000 €
Mondragon 56.000 €
CréditSuisse 84.000 €
AXA 46.000 €
Vinci 24.000 €
CréditAgricole 40.000 €
What's
new on EFES website?
EFES
NEWS distribution: 105.000
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