EFES NEWSLETTER: Rectification about European Parliament’s study

Jay Owen SRI/ESG News

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Rectification about European Parliament’s study
The European Parliament – Economic & Scientific Policy Department published a study named “Employee Financial Participation and Companies’ Proceeds”. This study published by the European Parliament was quoted by the European Commission as the most recent element of the “European background”, in its call for tender for the implementation of the European Pilot Project for the Promotion of Employee Ownership and Participation… More information

Press review
We have a selection of 27 remarkable articles in 10 countries in June 2013: Austria, France, Germany, Italy, Norway, Poland, Spain, UK, USA, Vietnam.
Austria: Management/Employee Buy Out for ACP IT Solutions.
France: First employee share plan for Areva . National plan for employee buyouts through workers’ co-operatives, including the dedicated website jetransmetsamessalaries.fr. STEF celebrates the 20 years of its employee share ownership model.
Germany: Employee share plans on the rise in Germany.
Norway: Employees now own 19% of the shares in Veidekke.
Poland: End of blockage period for employee shares in JSW.
Spain: The social economy lost its enterprises by 41% and its employment by 39% since 2007 in Cordoba.
UK: Employee share plan for Unity Trust Bank, whose majority shareholders are unions. Co-operatives can be seen as splendidly conservative institutions. Sir Charlie Mayfield (chairman of John Lewis Partnership and of the Employee Ownership Association): “The employee-owned business sector could eventually grow five-fold if helped by more favourable Government policies”. There has been a “significant rise” in the number of employees opting to take shares in the company that they work for as part of a remuneration package, according to a new survey.
USA: The Bernard Group announces that due to an Employee Stock Ownership Plan (ESOP), its employees now own the company. Concerned about the sale of Smithfield Foods to a Chinese conglomerate, State Delegate Bob Marshall is proposing an alternative: Let the employees buy it – An Employee Stock Ownership Plan plan “would allow the current employees of Smithfield Foods to purchase Smithfield without having to put their own savings toward that purchase.”
Vietnam: The ESOP rush.

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