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EFES NEWSLETTER - DECEMBER 2009

Exercising employee shareholders' rights in European companies
Which are the good practices? Which models, which obstacles across Europe? Could it be more effective? A European Report will be written with the support of the European Commission, and a European Conference will be held in Rome in June 2010. More

Australian Employee Buyout Centre
The Australian Employee Buyout Centre is in the process of starting up. Its mission is to preserve, protect and enhance jobs through employee ownership. More

You can make your contribution
We will be able to continue our information work thanks to your support. This is why we call for your contribution. More

Conference chaired by Lech Walesa in Warsaw
Employee ownership is back on the agenda in Poland. A conference was held in Warsaw with the European Federation of Employee Share Ownership on November 16. Pictures of the conference

Lech Walesa with Jacek Lipinski, President of the Polish Employee Ownership Association

Press review
Much new information about employee ownership in November 2009, with 1.414 articles in this press review (on which 442 involving stock options and 392 about workers' cooperatives). We made a selection of 45 remarkable articles in 13 countries: Canada, Estonia, France, Germany, India, Ireland, Italy, Morocco, Pakistan, Poland, UK, USA, South Africa.
Canada: Setting up a new Employee Shareholders' Co-operative.
Estonia: "Australia syndrome" in Estonia. The government is preparing to change the way employee shares and share options are taxed and make it much less attractive.
France: Several inquiries confirm that the crisis does not really affect employee share plans; most companies maintain or develop new plans. Growing interest about workers' co-operatives. Schneider Electric, Vivendi, Poclain and others are the winners of the "2009 Grand Prize of Employee Ownership".
Germany: Pressures on the new government, from companies as well as from unions. Daimler renounces to launch a new employee share plan, while IG Metal sees General Motors' new position regarding Opel as a declaration of war. Tax benefits could be increased from 360 to 2.600 annually on employee shares.
Ireland: Aer Lingus pilots seek for 4% stake in company in return for agreeing to generate savings of up to 30 million as part of an overall recovery deal at the airline. If the stake sought by the pilots was granted, Aer Lingus staff could end up owning about 23 per cent of the airline.
Italy: Government and social partners still discussing about employee share ownership to be promoted in Italy.
Pakistan: So far seven Benazir Employees Stock Option Scheme trusts have been established in different State Owned Enterprises, to extend the benefits of privatisation to the workers.
Poland: New privatisation phase based on employee ownership together with local government units.
UK: "John Lewis Policies" are in store. All main political parties calling for wider employee share ownership and home ownership, referring to John Lewis Partnership's model. A first employee buyout in the Scottish local press.
USA: Staffers at the now-defunct gay newspaper Washington Blade say they will regroup and try to continue as an employee-owned company.
More information about the United Steelworkers' plan to create worker co-operatives in North America, which overturn the traditional workplace division between workers and bosses, in partnership with the Mondragon co-operatives in Spain. Employee ownership makes a difference.

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