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EFES NEWSLETTER - SEPTEMBER 2012
A
new era of capitalism in the UK
The British Government announces a new era of capitalism.
"Never before, employee ownership had so much attention
in the UK", Minister for Employment Norman Lamb said.
They are going "to shift employee ownership into the
mainstream of corporate Britain". On the other hand,
the British administration for Revenue & Customs (HMRC)
launched a public consultation about employee share plans.
Something should be done in priority about employee share
plans in large companies, as the comparison with France
shows. This is appearing from the
EFES answer to the HMRC consultation
Typology
of employee ownership
Based on empirical and statistical observation, a typology
of employee ownership can be identified: Up to 1% employee
ownership appears to be insignificant or embryonic, over
1% it is becoming significant, over 6% it is strategic,
over 20% it is determining, and over 50% it is controlling.
Of course, here is a link with corporate governance issues.
It is remarkable that employee ownership appears to be strategic,
determining or controlling, not only in small and medium
sized enterprises, but even in a high number of the largest
European companies. More
information
Press review
We made a selection of 37 remarkable articles in 11
countries in July-August 2012: China, Finland, France, Germany,
India, Ireland, Poland, Spain, Switzerland, UK, USA.
China:
China's securities regulator issued a draft regulation for
listed companies that offer shares to their employees, a
move aiming to make more staff benefit from stock ownership.
Chinese telecom major Huawei looks to extend its employee
ownership model to its foreign workers.
Finland: Nokia boosts stock-option program to retain
key employees.
France: New employee share plan for AXA. Tax benefits
encouraging employee savings plans were dramatically reduced
in recent years. The end of a long story for SeaFrance ferries:
My Ferry Link is back as a workers co-operative. The new
socialist government will promote employee buyouts through
workers coops.
Germany:
Statistics by the German Share Institute show that the number
of employee shareholders increased significantly since 2010.
India: Stock-options back in vogue.
Ireland: The end of an era for Eircom.
Poland: Privatization of FOD Machines Factory.
Spain: The Spanish confederation of employee-owned
companies CONFESAL celebrates it 25th anniversary.
Switzerland:
Employee shareholders seem reluctant about Crédit Suisse.
UK: Employee ownership has the potential to play
an important role in Britain's future economic growth, says
employment minister Norman Lamb. A team of researchers from
Newcastle University Business School and Cass Business School
of City University London have come up with evidence that
shows the economic benefits, improved business performance
and resilience of employee-owned businesses (EOBs).
USA: An ESOP is a special type of retirement plan
that purchases stock of the business where the employees
work. A new study about the economic impact of the preferential
tax treatment of employee stock ownership plans (ESOPs).
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2012/August.htm
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A
political roadmap for employee ownership in Europe
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