NEWSLETTER - MAI 2007
Mitarbeiter als Aktionäre der Zukunft in Österreich
Die österreichische Bundesregierung will die Mitarbeiterbeteiligung
in Österreich im Laufe dieser Legislaturperiode verdoppeln,
sagt Finanzminister Wilhelm Molterer.
development about employee ownership in the world's press
articles about employee ownership in the world's press in
April. When we launched our press review for the first time
in October 2005, we got 597 articles. In March 2006, it
was 1.090. In March 2007, last month, it was 2.090… Now
with 7.560 articles, we have to change our methods. See
press review below.
Fever in USA, employee ownership schemes are especially
For the second time in a few weeks, employee stock ownership
plans (ESOPs) figured prominently in high-profile deals.
$8.2 billion deal for Chicago Tribune (21.000 workers –
they will have 60% in hands). $5 millions deal for Chrysler
with a possible bid by the United Auto Workers reviewing
a proposal for employees and the union to buy 70 percent
of Chrysler via an employee stock ownership plan… See more
information in the press review below.
Netherlands Participation Institute
for the Netherlands Participation Institute which promotes
employee ownership in the Netherlands on http://www.snpi.nl/
New worker-owned garment factory
The Institute of Integrated Rural Development promotes
worker ownership in the textile industry and in roadside
tree plantations More
7.560 articles about employee ownership in the world's
press in April. When we launched our press review for the
first time in October 2005, we got 597 articles. In March
2006, it was 1.090. In March 2007, it was 2.090… So much
articles means that we got much "duplicates":
When themes become popular, many local newspapers are reproducing
the same information, duplicating the same articles. Now
7.560 articles becomes too much for us and we have to change
our methods. This press review is based on Google tools
- fortunately this month, we got a new Google function,
excluding duplicates automatically.
Excluding duplicates, we got 1.952 articles in this press
review in April. We made a selection of 52 remarkable articles
in 12 countries: Austria, Belgium, Germany, Spain, France,
India, Italy, Jamaica, Sweden, UK, USA, South Africa.
ESOP fever in USA: Billionaire Sam Zell offer for
Tribune group was finally accepted, a $8.2 billion deal,
for the country's second-largest newspaper publisher. Tribune
will be owned by Zell and the company's 21,000 workers through
a new employee stock ownership plan. The ESOP will become
the majority owner of Tribune once the deal is complete,
though Zell will have control. Dangerous deal for employees?
With employees having a say in how Zell will run Tribune
or not? Will they have a seat on the board? Nobody's offered
them one yet. But employee ownership does not necessarily
mean a voice in management, or even a say. "The employees
were never even consulted."
IF ALL else fails, hand the workers some equity. That seems
to be the new philosophy of America's private-equity firms,
at least, judging by the bidding war for Chrysler and the
recent deal to buy the Tribune newspaper group.
Chrysler: Rumors about billionaire Kerkorian' intention.
Chryslers’s main union, United Auto Workers, is looking
to enter the bidding for DaimlerChrysler’s US division,
reviewing a proposal for employees and the union to buy
70 percent of Chrysler via an employee stock ownership plan
(ESOP). UAW representatives from around Toledo have been
talking up an employee bid for the Chrysler Group, and discussions
around the proposal have been going on for more than a month.
They got help from the Employee Ownership Center at Kent
State University in Ohio and an "Employee Buyout Committee"
was set up. The workers promoting the employee-ownership
plan say it is the best option for Chrysler's 50,000 UAW
ESOPs give workers a stake. The number of employee stock
ownership plans grew 20 percent from 2000 to 2005. "They
anchor jobs and capital in our communities," John Logue
said. "...Isn't that economic development?''
Some other articles in our selection about employee-owned
companies: The SAIC Story, an $8 billion business success.
Devix Corporation became 100% employee-owned last month.
How Ridge Lumber employee-owned firm plans a reorganization.
United Kingdom: Two veteran funds have joined forces
to invest an additional £4 million in employee buyouts across
the UK, with Baxi Partnership Trust.
India: The ESOP of RIL would benefit more than 18.000
employees and is the largest ESOP declared by any Indian
oil and gas company. At present, Tata Tea has over 30,000
employees and workers at its North Indian tea plantations;
the Tata Group will divest its shareholding gradually with
its North Indian plantation employees subscribing to the
shares of the company.
Jamaica: National Workers Union representing Jamaica
Public Service Company (JPS) workers are to mount a lobby
for the establishment of an Employee Share Ownership Plan
before the upcoming sale of the power company.
Belgium: Employee share ownership lags far behind.
South Africa: Trade union Solidarity expressed unhappiness
with cement company Lafarge’s unilaterally planned employee
share ownership plan.
France: Merger and acquisitions are multiplying amongst
large groups. For Eiffage, facing Spanish Sacyr, employee
shareholders will be the key, with 22,4%. The new legislation
of December 30, 2006 brings its first effects. France Telecom
launches a wide new share ownership plan, giving free shares
to its 104.000 employees. New employee share plan for BNP
Paribas. Strong development for employee savings plans in
2006: +19%; employee savings concern now 60% of employees
in the private sector.
Italy: One year later, employee shareholders of BNL
are still waiting for BNP Paribas' projects.
Austria: Employee share ownership will be promoted
by new government.
Earthquake for Ericsson. In General Shareholders' Meeting,
some US investment funds were able to reject the new employee
share plan which was yet supported by Swedish shareholders
and trade unions as well.
The press review is available
This is how much an employee holds in average, in shares
Volvo 78 €
SCANIA 157 €
Rheinmetall 0 €
Valeo 642 €
Faurecia 73 €
DaimlerChrysler 741 €
BMW 1.484 €
Volkswagen 1.296 €
Audi 0 €
Renault 7.301 €
PSA Peugeot Citroen 1.472 €
Fiat 11 €
Pirelli & C. 3 €
Continental 1.018 €
Michelin 1.237 €
Thales 4.765 €
Finmeccanica 193 €
Smiths Group 1.783 €
EADS 7.143 €
BAE Systems 1.374 €
Rolls-Royce 3.981 €
ABB 105 €
Metso 4.767 €
KONE 556 €
Wärtsilä 3.276 €
Schneider Electric 8.245 €
Alstom 1.469 €
SKF 649 €
ANDRITZ AG 1.899 €
Bull 1.336 €
Siemens 2.148 €
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 €
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