Econologie.biz: the business of environmental stakeholders

[Christophe]

econologie.biz is a news aggregator concerning the more economic than ecological aspects of large environmental professionals ... There will even be finance and a little stock market ...

[jean63]

There will even be finance and a little purse ...

Have I read or dreamed well?

I don't believe it ==>

Atos: Reinforce under the 44 euros - Capital.fr

This is too much: when I cite economic articles from the stock market I get accused of and there I read a stock advice.

[Christophe]

It’s done on purpose

The "trick" is to reach another audience and make them discover the concept of "econology" (already if they remember the name of the site it's won!) ...

[jean63]

It’s done on purpose

The "trick" is to reach another audience and make them discover the concept of "econology" (already if they remember the name of the site it's won!) ...

anyway, we have to integrate all the business that goes with it so it's a good idea; but it is starting to move in the unions at the global level against the investment funds which want to gain 15% and invest nothing neither in research nor in development.

I have an article of yesterday somewhere that I printed, I try to find it it is in purse; it's going to move since it is the unions of the USA which are in 1ère line !!!!

[Christophe]

Oh well? Are there unions in the USA?

[jean63]

Oh well? Are there unions in the USA?

Eh yes !! ==>

www.boursorama.com/infos/imprimer_news. ... ws = 4025373

AFP the 16 / 03 / 2007 19h08
Global unions warn of investment funds

The Secretary General of the European Trade Union Confederation (ETUC) John Monks, on February 14 2006 in Strasbourg
© AFP / Gérard Cerles Archives
Unions around the world, including the American AFL-CIO, launched an appeal Friday in Paris to build a parade to the growing grip of investment funds in the economy, which they consider dangerous for the sustainability of companies and their employees.

"We are facing a new capitalism", born under the influence of investment funds "which work in the dark", warned Ron Blackwell, chief economist of the main American union, the AFL-CIO, at the meeting. 'a press conference.

He had just participated in the OECD headquarters in Paris in a summit union meeting co-organized by the trade union advisory committee to the OECD (Tuac), 22 national unions (United States, Japan, Germany, France, Great -Brittany ...), five international federations and two international confederations (CSI and CES).

At the heart of the discussions, investment funds - "private equity" (investment in unlisted companies) and "hedge funds" (speculative funds) - which occupy an increasing place in the globalized economy.

First problem, according to Mr. Blackwell, these funds reason "in the short term" by buying companies then by selling them after a few weeks or at most after "three to five years", in order to generate a large profit as quickly as possible.

The transactions of LBO funds (Leverage buy out) which constitute the bulk of "private equity", reached some 600 billion dollars in 2006, a good 70% compared to 2005, according to the Dealogic firm.

In search of maximum profitability, funds that buy a company attack "jobs, pensions, working conditions" and even question "the viability of the company", worries Mr. Blackwell.

"The Permira fund, the largest private equity in Europe, bought in 2004 the repair company + The automobile association +", told AFP Peter Rossman, of the International Federation of the Food Industry.

"The fund immediately cut 3.500 jobs out of the 13.000 in the box" and asked those who remained "to work more, to the point of prohibiting them, in December, from taking any vacation until March!", S he is indignant.

The unions also point to the "fund's" lack of any responsibility as employers, "Rossman continued. "In Dusseldorf (Germany) at the end of 2005, the striking employees of the airline company Gate Gourmet, then bought by the Texas Pacific fund, had wrested an agreement with their local management," he said.

"Texas Pacific forbade the management to sign the agreement, but told the union that came to negotiate with him that he was not the employer!", He lost his temper.

"These funds, which require companies to return 15% per year, invest nothing in innovation, research ... and in addition they do not pay tax!", Underlined the British John Monks, the general secretary of the European Trade Union Confederation (ETUC).

Mr Monks called for a "taxation" of these funds and a "regulation" of their activity in order to avoid a "financial crisis".

In France, unions have mobilized in recent months against LBOs, whose practices have moved to the German public authorities.

The unions present in Paris said they had an appointment with German Chancellor Angela Merkel on May 7, a month before the G8 she is to chair, to find out "what message will be carried" by the great powers.