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EFES NEWSLETTER - SEPTEMBER 2017
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Is employee ownership contributing to China's
stock market rally?
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This is the question posed by the National Center for
Employee Ownership in its last edition.
As
stocks on the Shanghai rose to a 20-month high, analysts
cited China's ownership reforms as contributing to investor
confidence.
As
quoted in China Daily, Gao Ting, head of China strategy at UBS
Securities, cited reforms by China Unicom, the country's
second-largest mobile phone provider, which include
a diversified board of directors and employee ownership.
Investor
sentiment was boosted by signs of accelerated ownership
reforms at State-owned enterprises.
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Press review
We have a selection of 28 remarkable articles in 6 countries
in July and August 2017: Australia, Austria, China, France,
UK, USA.
Australia: Sydney engineering company C-MAC Industries
went through succession process to become one of the country’s
first worker co-ops.
Austria: Max Stelzer was the successful organizer of
employee ownership at Voestalpine, with 22.000 employees holding
14.5%. Max is the new HR Manager of the whole Group.
China: Is employee ownership contributing to China's
stock market rally?
France: Employees of GA Group hold now 60% of the company.
New employee share plan for Nexity, for Axa. Acome is the largest
and oldest workers cooperative in France. Employee savings would
be exempted from the coming new flat-tax on savings income.
UK: An Employee Ownership Trust can be highly tax efficient
and can provide a way for a majority shareholder to sell a controlling
interest in the company without incurring capital gains tax.
New website created to raise awareness of employee ownership
as a business option.
USA: Multiple new firms turning to ESOPs. The famous
empoyee-owned CH2M company in talks to be bought by Texas firm.
ESOPs still a significant share of retirement plans - since
2010, an average of 229 new ESOPs have been created each year.
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2017/August.htm
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A
political roadmap for employee ownership in Europe
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