EFES NEWSLETTER - JUNE 2006

Sixth European Meeting of Employee Ownership
The next European Meeting of Employee Ownership will be held in Brussels on December 14-15-16, 2006. The meeting will announce the publication of our new rankings of Europe's widest employee ownership companies: The European Employee Ownership Top 100 2006.

The European Employee Ownership Top 100 2006
It will be designed with respect to two rankings of Europe's largest companies, considering employee ownership.
EUROPA EMP 100: Companies are ranked by number of employees. Ranking Europe's largest companies that are 50% or more employee-owned through an ESOP, Share Purchase Plan, or other Broad-Based Ownership Plan, or as a workers' co-operative.
EUROPA CAP 100: Companies are ranked by equity held by employees, in millions Euro. Ranking Europe's largest companies that are partly or totally employee-owned through an ESOP, Share Purchase Plan, or other Broad-Based Ownership Plan, or as a workers' co-operative.

Press Review   
Much new information about employee ownership in May 2006, with 971 articles in our press review (on which 343 about workers' co-operatives).
We made a selection of 40 articles in 12 countries (Ireland, USA, Austria, France, Jamaica, United Kingdom, Germany, Brazil, South Africa, South Korea, Canada, India).
Ireland was the hottest place regarding employee ownership in May, with the followings of Eircom's serial (97 articles). At the origin, Australian investment fund Babcock & Brown proposed a take over. Now Eircom's Employee Share Ownership Trust seems to emerge as the big winner, and employee ownership could raise from 21.5% to 35%.
In the USA, some examples of possible rescuing companies through employee ownership in Hoover (vacuum cleaners) and Park Falls (paper mill). Bad and happy stories in Swanson Legacy, Green Giants, Christensen Group and New Belgium Beer.
In Austria, workers ownership will be developed in the framework of Post's privatisation.
In France, the preparation of a new legislation is going to its conclusion; various opinions can be found on the subject. On the other hand, employee ownership is expanding strongly. Some case stories about typical situations in Thales, SNCM privatisation, Auchan, AGF, Arcelor.
In UK, the new conservative leader David Cameron picks the promotion of employee share ownership as one of the two areas where a Tory government would cut red tape. On the other hand, employee ownership seems to be a major question in the privatisation of the Royal Mail.
Jamaica tells the story of one of the first company in the world to offer an employee share ownership plan.
In Germany, Angela Merkel's plans to develop employee share ownership get supports (see AGP Conference) and opposition as well (with a description as a "horrorkatalog")
In Brasil, President Lula launched the idea of a new labour pact, including a new legislation for workers' co-operatives.
In South Korea, employee ownership is developing in Hyundai.
Canada gives the example of a possible rescue for Neenah paper mill.
Finally, India will use employee stock options to facilitate the merger of Air-India and Indian.

The press review is available on:
              http://www.efesonline.org/PRESS REVIEW - May 2006.htm  

International Survey on Employee Share Ownership and Work Values

  Italy - Bologna - 14 giugno 2006 "Piccoli Azionisti" - le associazioni presentano le loro idee

 Germany- Düsseldorf - 14. Juni 2006 "56. Bundeskonferenz der AGP" Veranstaltung der AGP (Arbeitsgemeinschaft Partnerschaft in der Wirtschaft) und dem Ministerium für Wirtschaft, Mittelstand und Energie des Landes Nordrhein-Westfalen

New European report, by Erik Poutsma and others: "Changing Patterns of Employee Financial Participation in Europe - A survey among listed firms in Six European Member States"
Click here to download

EFES needs more members. What about you? You can help EFES and EFES can help you.
Click here to download EFES membership form

Soon published:
The European Employee Ownership Top 100
Click here for info

What's new on EFES website?

EFES NEWS distribution: 80.000