New facts about employee ownership in February 2013

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EFES NEWSLETTER – FEBRUARY 2013

New era for employee share plans in the UK
The British government has given the green light to substantial simplification and reform of all four approved share ownership schemes during the course of the next 15 months. This follows the exhaustive review of the approved schemes by the Office of Tax Simplification, which concluded that major changes had to be made quickly to head off strangulation of the employee share ownership sector by overregulation and excessive bureaucracy. More

Press review
We made a selection of 30 remarkable articles in 7 countries in January 2013: China, France, Germany, Italy, UK, USA, Zimbabwe.
China: Huawei is likely the world’s biggest telecom equipment maker. Its success today should be attributed to the “employee ownership” model, because it integrates employees’ personal interests with the company’s long-term prospects.
France: The Unions’ Committee for Employee Savings (Comité Intersyndical de l’Epargne Salariale) has a new website. New employee share plan in 34 countries for Schneider Electric. How the French Government is going to support employee buyouts. Several large workers’ co-operatives in France.
Germany: The employee shareholders association of Siemens represents several thousands of employee shareholders.
Italy: Scandal in MPS Bank. Employee shareholders are doubly cheated.
UK: Unipart is one of Britain’s most celebrated large-scale employee-owned businesses. Gripple is another one. Recommendations made by the Office of Tax Simplification (OTS) in its review of employee share plans would bring welcome simplification.
USA: Several new ESOP companies. Research indicates ESOPs save Federal Government billions due to fewer layoffs. When is selling the company to its employees a sound strategy?
Zimbabwe: The employee share ownership trusts were a stroke of genius.

            The full press review is availableon:
http://www.efesonline.org/PRESSREVIEW/2013/January.htm