EFES NEWSLETTER - FEBRUARY 2008
of all European largest companies have employee share plans
80% of all European largest companies had employee share
plans in 2007, coming from 50% in 2000, 20% in 1994, 10%
in 1986... A quick and recent development. All European
countries are involved without any exception. However, some
of them began earlier while others dawdled on the way. We
present the full picture in a set of graphs, so you can
see what it is for each country. See
Brussels, 23 May 2008 – Seventh European Meeting of Employee
The Seventh European Meeting of Employee Ownership will
be held in Brussels on 23 May. The meeting will be the place
for the publication of the ranking of the European Employee
Ownership Top 100 for year 2007 and the full analysis of
employee ownership across Europe in 2007. Would
you like to attend – get detailed information here
Much new information about employee ownership in January
2008, with 1.415 articles in this press review (on which
614 involving stock options and 184 about workers'
cooperatives). We made a selection of 60 remarkable
articles in 15 countries: Austria, Belgium, Canada, Chile,
Czech Republic, Germany, Spain, France, Ireland, India,
Italy, Morocco, UK, USA, South Africa.
Spain: Maybe this was the most significant information
in January: After Merkel in Germany, Molderer in Austria,
Juncker in Luxemburg, Sarkozy in France, Zapatero's Socialist
Party pleads now for employee share ownership and stock
options in its program for next elections.
Employee buyouts: Many examples (success stories
or not) in this press review in USA, UK and Germany as well.
Austria: Saubermacher plans employee share ownership,
while Erste Bank will expand its employee share plans in
Czech Republic: Share option windfalls raise some
Germany: Angela Merkel repeats that employee savings
plans and employee share ownership have central importance.
France: In his press conference for New Year, Sarkozy
called for "participation for all". Unfortunately,
giant fraudulent losses (5 billions Euro) at Société Générale
bring a major shock, employee shareholders being the first
shareholder of the bank with 8%; on paper, each of them
lost some 40.000 Euro. At the same time, the crisis seems
not finished in the French biggest newspaper Le Monde
(employees holding 52%).
Ireland: Aer Lingus appoints trade union high flyer
to sit on board, after being nominated by the Aer Lingus
Share Ownership Trust, which is controlled by the airline's
India: Ministry approves Air India’s plan for employee
stock options. Employees of the State Bank of India will
also be grant employee stock options.
Kingdom: A set of employee buyouts stories. "Redundancy?
No! We bought the company." Now that Tower Colliery
coal mine had to close (coal reserves have definitely run
out), it is time for all to look back at Tower's history
– It was in 1995 when 239 miners bought the mine.
The ESOP Association will celebrate its 30th Anniversary
helping create better and stronger employee
owned companies and spreading the message of employee ownership
The press review is available
This is how much an employee held in 2006, in average, in
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 €
new on EFES website?
NEWS distribution: 85.000