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EFES NEWSLETTER - OCTOBER 2009

New course in Germany, discussions in Italy and Poland
Things are changing quickly. Until recently, Germany was quite reluctant about employee ownership. It's only just since April that a new legislation was in force and employee ownership is already again on the agenda, with German trade unions promoting employee ownership as a tool against the financial crisis, and demanding capital stakes in troubled companies. However, employers' organisations seem more cautious. Whatever next !? Same situation in Italy: Minister Sacconi convened social partners to a roundtable about employee financial participation, getting positive reactions from the unions' side but cautiousness from employers. In Poland, Vice-Prime Minister Pawlak prepares a new privatisation phase based on employee ownership. Who's next?

Press review
Now also in Polish newspapers !!
Much new information about employee ownership in September 2009, with 1.445 articles in this press review  (on which 541 involving stock options and 315 about workers' cooperatives). We made a selection of  53 remarkable articles in 11 countries: Canada, China, France, Germany, Ireland, Italy, Netherlands, Pakistan, Poland, United Kingdom, USA.
Canada: Employees set up a workers cooperative to save GDS sawmill from closing.
France: New successful employee share plans for Axa, for Steria, and some success stories for workers' cooperatives, employee buyouts and employee-owned companies (Alma, De Sangosse, Ceva, Cegelec/Vinci…) Employees could set up a workers cooperative to save Manuest from closing.
After having fallen in 2008, employee savings and employee ownership funds are growing again in 2009. Some discussions about schizophrenia and stock options.
Germany: "Mitarbeiterbeteiligung wieder auf der Agenda". It's only just since April that a new legislation was in force in Germany and employee ownership is already again on the agenda. German trade unions promote employee ownership as a tool against the financial crisis, demanding capital stakes in troubled companies. The SPD promotes a new plan in this view. However, employers' organisations seem more cautious. Whatever next !?
Ireland: Eircom's employee share ownership trust (ESOT), which owns 35% of the company, has agreed to co-operate with the deal which will be the fifth takeover of Eircom since its privatisation.
Italy: Minister Sacconi invites social partners for a roundtable about employee financial participation, and discussions seem progressing quickly. However, as recently noted in Germany, trade unions appear to be more positive than employers' organisations.
Netherlands: Still more and more employee ownership in The Netherlands.
Pakistan: Prime Minister Gilani launch the Benazir Employees Stock Option Scheme as a way to empower workers of State Owned Entities.
Poland: On the way for a new privatisation phase based on employee ownership.
UK: "Share schemes feel the squeeze": Just before the crisis occurred, the number of employees participating in share option schemes was at its lowest level in 16 years. A significant contrast with the continuous progress of employee savings in France. On the other hand, John Lewis puts hundreds of jobs at risk.
USA: A study conducted by Washington State University found that hourly wages at employee-owned firms were five to 12 percent higher than those at other firms. More than 40 academics recently came together to share findings from research on how employee ownership motivates employees, improves firm performance, advances innovation, and supports economic development. The event  was the largest academic symposium of scholars involved in interdisciplinary study of employee stock ownership.

The full press review is available on:
              http://www.efesonline.org/PRESS REVIEW/2009/September.htm 

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   With best regards

 

 
 

Marc Mathieu
Secretary General
EFES - EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
E-mail: efes@efesonline.org
Web site: www.efesonline.org
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.

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