EFES NEWSLETTER – OCTOBER 2010
New researches about employee ownership and corporate performance
Many new research works recently about employee ownership in the UK, in USA, in The Netherlands (see press review). Research confirms that employee-owned businesses offer greater resilience and tend to create new jobs more quickly and typically outperform other companies. The employee ownership structure works well in small firms, however large firms demonstrate the structure can deliver superior returns provided it is weaved into the firm’s culture, strategy and operations.
Conference on public policies for employee ownership in Europe
The conference will be held in Brussels on November 26. With the Rapporteurs of the European Economic & Social Committee, Alexander Graf von Schwerin, with European Commissioner Michel Barnier, Pervenche Berès from the European Parliament and many other high representatives. The conference is organized by the EFES for the Belgian Presidency of the European Union. It is open to all. Practical information
Much new information about employee ownership in September 2010, with 1.503 articles in this press review (on which 518 involving stock options and 367 about workers’ cooperatives). We made a selection of 47 remarkable articles in 12 countries: Arab Emirates, Australia, Canada, France, Italy, Netherlands, Philippines, Poland, Spain, Trinidad, UK, USA.
Arab Emirates: Research reveals that employee-owned businesses offer greater resilience and tend to create new jobs more quickly and typically outperform other companies.
Australia: Recent tax reform has killed share options. About angels and paradise.
Canada: The employee-owners of CHEK TV celebrate their first year of independence.
Spain: Bask Government will promote employee ownership and the ESOP Model with the objective to facilitate business transmissions and maintain local decision centers. New global employee share plan for Telefónica. The Spanish Confederation of employee-owned companies will facilitate unions’ information work.
France: Attacks against tax incentives favouring employee participation. New employee share plans for Veolia and maybe even for Carrefour. Rescuing companies as workers’ cooperatives. Le Monde: Employee shareholders loss their control of the newspaper.
Italy: Successful international conference on employee ownership in Rome.
Netherlands: New research work by Nijmegen University confirms that employee ownership leads to better performance.
Philippines: Workers of a dental facility, which shut down last month without due notice by its American owner, are planning to take over the business.
Poland: The French Chamber of Commerce in Warsaw points out the lack of adequate legislation on employee share ownership as a significant obstacle for French investors. Krzysztof Ludwiniak promotes the benefits of the ESOP Model.
UK: New Prime Minister David Cameron made clear before the election that he would consider spinning off the functions of some Government departments to employees to boost efficiency. However the Co-operative Party (which is a part of the Labour Party) expresses doubts about the new Coalition’s will to promote workers’ cooperatives. Royal Mail workers will get 10% of privatised business, which means that the workers’ share would be the biggest of any privatised UK company for 25 years.
USA: Results from the Employee Ownership Foundation’s 19th Annual Economic Performance Survey of ESOP (employee stock ownership plan) companies evidences that despite the severe economic downturn, ESOP companies on the whole continue to have increased share value, better productivity, and overwhelming support among leaders of the companies. Another extensive study evidences that ESOPs provide more employee retirement benefits than non-ESOP companies. Finally, President Obama responded to a question about ESOPs and employee-owned companies.
The full press review is available on:
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EFES – EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS – FEDERATION EUROPEENNE DE L’ACTIONNARIAT SALARIE
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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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