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Two particular organizations in the UK
Two particular organizations has had a major influence on the popularity of employee ownership in the UK. The first was founded in 1979, with the help of the John Lewis Partnership, Scott Bader and other companies, and originally established as a consultancy, known as Job Ownership Ltd. It was the brainchild of Robert Oakeshott, who died in June this year. Robert was a founder member of the  European Federation of Employee Share Ownership in 1998. It changed later its name to the Employee Ownership Association, acting as "the voice of co-owned business in the UK". The second organization known as ifs ProShare was founded (originally as ProShare) in 1992 by HM Treasury, the London Stock Exchange and a consortium of major companies. It provides "a voice for the Employee Share Ownership (ESO) industry in the UK".

The employees of Talvivaara Mining Company resolved on 18 June 2011 to establish a Group personnel fund to manage the earnings bonuses paid by Talvivaara. The fund will invest a substantial proportion of its assets in Talvivaara shares. The fund is managed by personnel representatives elected by the employees. Personnel funds are a typical way in Finland for employee share ownership in large companies.

Press review
Much new information about employee ownership in August 2011, with 1.400 articles in this press review (on which 495 involving stock options and 313 about workers' cooperatives). We made a selection of 50 remarkable articles in 15 countries: Canada, Denmark, Finland, France, India, Italy, Kenya, Poland, South Africa, Spain, Sri Lanka, Tunisia, UK, USA, Zimbabwe.
The EFES' press release about stock market plunge in August was relayed in Italy, in France, in Belgium, in Finland…
Denmark: Famous Danish employee-owned company Unimerco is sold for billions to Japanese conglomerate Kyocera.
Finland: The employees of Talvivaara resolves to establish a personnel fund to manage the earnings bonuses paid by the company.
France: Bouygues employee share ownership funds hold 19.8% of the company's share capital. CFDT Union proposes to set up a workers cooperative to rescue SeaFrance ferries. New employee share plan for Vinci and for AXA. Employee shareholders facing stock market plunge, while companies multiply free share awards and leveraged plans. Public deficit: Tax rates will be increased on employee saving plans.
India: Indian companies prefer employees stock options as a compensation tool over other forms of equity-linked incentive plans. The largest Indian workers cooperative was in Kerala.
Italy: Employee share ownership is the great absent in Belusconi's maneuver.
Poland: The Polish Treasury Ministry's sale of one-third of coking coal producer Jastrzębska Spółka Węglowa is one of the largest deals in Poland this year, employees getting 15% of JSW share capital.
South Africa: Trade union Solidarity calls for employee share-ownership schemes to play a greater role in transforming the mining industry.
Spain: Employee share plans for Spanish companies. Hotel Octavio could be rescued through a new employee-owned company.
Sri Lanka: The Employee Share Ownership Schemes (ESOP) available to listed companies is a very positive move.
Tunisia: Stock options for recovery?
UK: IFS Proshare research: Sharesave schemes rise in popularity, despite market turmoil. One particular organization has had a major influence on the popularity of mutuals and employee ownership in the UK; known as Job Ownership Ltd, the organization founded in 1979 was the brainchild of journalist, Robert Oakeshott, who died in June this year. Employee-owned paper mill Tullis Russell to cut jobs. Employee owned companies’ shares underperformed in Q2 of 2011 according to the Employee Ownership Index. Hebridean Jewellery has been sold to its employees.
USA: The pros and cons of employee ownership. Over the last decade, the tension between the merits and drawbacks of employee ownership has led to a public debate over how prevalent employee ownership should be in North America.
Zimbabwe: Mined workers are planning to go on strike over outstanding employee share option schemes which have not be honoured to them by the company.

The full press review is available on:

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   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
Web site:
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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