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Rarely been so general meeting consensus than Veolia. The 700 shareholders gathered Wednesday in Paris at the Carrousel du Louvre, applauded the strategy of Mr. Frérot and voted no qualms in joining the Board of three new directors. Jacques Aschenbroich, CEO of Valeo, Maryse Aulagnon, president of the land Affine, and Nathalie Rachou, Topiary Finance manager, replacing in particular Jean-Francois Dehecq and Esther Koplowitz, both close to Proglio, the former CEO of service to local communities.

Absent at the meeting, it was not mentioned once during the session, either by the leaders of Veolia or by its shareholders. Yet, now boss of EDF but still a director of Veolia, he led a revolt against his successor without end, which he blames his change in strategy. In February, Proglio had launched an unsuccessful coup attempt against Mr. Frérot. More recently, his relatives have circulated in the press an anonymous note criticizing the management of the CEO.

This could, in the coming days, to make further revisions to its teams in particular, to oust managers who maintain the revolt against him.

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Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille

The political will she heads fall in major French companies, starting with those in the public sector? The question fueling rumors and conversations of the economic world for months. No obvious answer hitherto. Because, during his campaign, Francois Hollande has blown hot and cold. In February, the PS candidate denounced the "Sarkozy system" and promised to "senior officials" related to it they should leave their place to others. The purpose was explicitly justice and the prefects. But it could also implicitly threaten business leaders. Wednesday, during the discussion of inter-towers, Francois Hollande had strongly criticized Nicolas Sarkozy had "called his family around," "including in banking." Virulence raising concerns for some a witch hunt in the economic sphere. A nasty rumor suggests a "top five", five figures, therefore, that would give priority to land.

Meetings behind the scenes

Francois Hollande, but also promised a presidency "non-partisan and impartial." The implementation of this commitment would prohibit so to make a waltz leaders. This example is in this spirit that the applicant plans to change the designation process for leaders of public broadcasting.

For patrons of public enterprise, implement the strategy of state ownership and demonstrate a good record-may indeed be sufficient to maintain, at least until the end of their term personal loans for people with bad credit. This theory of smooth switching on the economic field has been given credibility in the last days of the candidate's campaign. The signals of appeasement towards the business community have multiplied as informal contacts, meetings behind the scenes intensified between teams of Francois Hollande and bosses. Classified personalities left in the staffs of major groups and institutions, the policy mix is ​​often appropriate, helped get the message. And internally, small teams have everywhere to have floored the day comes, projects that "stick" better to the new directions of state ownership.

The truth will lie most likely between the two. Neither bleeding nor status quo. Attention will focus on the leadership position in the most emblematic, as Proglio. At left, the boss of EDF was this winter called "PPH" pass away the winter. Today, his fate divides the entourage of Francois Hollande. But the large French public sector could also be a big shell game. Leaders marked left and already employed, as Guillaume Pepy (SNCF), Pierre Blayau (Geodis) or Philippe Wahl (Post Bank), can be "promoted". New people arrive. Or return of old, as Anne Lauvergeon, old Sherpa Francois Mitterrand and former boss of Areva. Finally, some might choose to leave, especially if Francois Hollande is carrying out his threat to put them on the wagon.

Complex and dense, the French tax system also has a little side fantasy. Example with the misnamed "tax on shows," which strikes no more cultural show but applies to sporting events, to circles and gambling houses This tax is 8% on entrance fees, except for motor racing and … pigeon shooting, imposed, for some reason, to 14%. Other sports are exempted. A very serious order lists them: athletics, judo but also bowls, sports bowling, target shooting, javelin, long palm … Our zealous technocrats have wanted to forget anyone. Finally, the municipalities, who are the beneficiaries of the entertainment tax, may decide to specific exemptions.

Believing that such exemptions are breaking the principle of equal taxation, the football club Paris Saint-Germain took the case before the Constitutional Council. In vain. The Sages have found these exemptions constitutional because they are based on objective and rational. "The Order lists mainly sports whose quality is not the first to draw crowds," said Council. And to clarify: "The revenue generated by a competition of cane, roller skating, trampolining, or twirling stick (which are exempt) are not commensurate with those that could generate a competitive tennis, football or rugby. "We can not agree more.

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Will they follow? The question hangs over Airbus, like Boeing, which monitors the behavior of its subcontractors. Similarly, the major suppliers so-called "rank 1", such as Safran and Thales, regularly take the pulse of their own ecosystem. Together, the industry will meet the challenge of rising rates announced (see graphic).

Having racked up record orders in 2011, Airbus must produce more and more to deliver in a timely manner its customers. Despite economic uncertainties, demand is high. The world fleet will more than double to over 31,000 units in the next twenty years. In 2012, Airbus expects to deliver 570 aircraft (+ 6% from 2011). Boeing and put on 585 to 600 deliveries in 2012 against 477 a year earlier.

Suppliers are energized. Airbus does internally and 15% of the value of an aircraft. He buys 9 to 10 billion euros of components and subassemblies for other U.S. and between 11 to 12 billion in Europe and the rest of the world. In France, many providers depend on more than 30% and sometimes 100% of its orders. Airbus health is linked to that of its subcontractors. And vice versa. "We support our partners to increase their industrial performance. We have strengthened our team with our suppliers to optimize their production, "said Fabrice Brégier, CEO of Airbus.

We need to fund this growth. "Our industry is highly capital. Our working capital needs are important to fund our stock. We produce three to six months ahead of the pace of the builder. To garner a turnover of euro, we must invest one euro, "says Emmanuel Viellard, president of Lisi Aerospace, a leading European aerospace fasteners (airframes and engines). "Between 2010 and 2015, we plan to invest 250 million euros to finance 60% increase in activity linked to increased rates of manufacturers," he adds.

A fund of 100 million

This is when the order books are re-inflated to block the subcontractors are struggling to find financing. Especially SMEs as banks remain cautious. The Gifas, the union bosses of Aeronautics, conducted an awareness campaign on this theme. He watches any failure. Initiatives are multiplying to help SMEs. Next to the Strategic Investment Fund (FSI, depending on the Deposit) and type Aerofund dedicated funds, the state decided, with the support of Airbus and several banks, to develop a new tool Financial that takes into account the specificities of the sector. A fund of 100 million euro was launched to provide long-term bank loans to finance the "time costs" (NRC) under the pooling of risk between manufacturer and subcontractors. They must subsidize the upstream (design and development) by assuming the burden of NRC which are written on the number of aircraft sold. ROI – 10 to 15 years after the launch of a new device – is tied to the success of a program whose life often exceeds thirty years.

"Triple A Aviation"

But we must also rely on late shift that the first deliveries. They trap the subcontractors that produced in advance of equipment that will be paid upon delivery. In this case, inventories swell and cash suffers. Latecoere, which provides fuselage sections and wiring systems, has been close to bankruptcy. Heavily indebted, it has been hard hit by delays in the A 380 and B 787. An extreme case that prompted Airbus, in particular, to fly to the rescue by setting in advance of development costs and by providing four years of work load. As if the manufacturer gave a triple-A to its supplier, which reassures banks.

"We do not direct funding, but sometimes we make a one-time, targeted, said Marc Ventre, Executive Officer of Safran. Very keen to preserve the capacity for innovation in France, we give visibility to our partners by providing the production schedules in advance and by contracting our relations. "" Banks no longer rely only on past performance and objectives. This reassures them when we have commitments on four or seven years, "says Julien de Souza, president of Mecachrome (for engine components and fuselage components). The SME 256 million euros in sales projected to increase by 20% of its investments between 2012 (16 million) and 2014.

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Francois Hollande • • • Nicolas Sarkozy • Jean-Luc Melenchon Bayrou • Marine Le Pen

Francois Hollande (PS)

Francois Hollande, April 15 at Vincennes no fax cash advance. Photo credits: THOMAS SAMSON / AFP

This time it is. French bosses have moved to the digital age! They are even more likely to bring their PCs, tablets, smartphones personal office. What makes them so much more demanding on the performance of their professional tool. Recognising the benefits that can bring digital to their business, they have maintained their investments despite the crisis.

Even if they do not always understand what it can serve as the barometer shows the maturity of digital leaders unveiled on Tuesday by IDC and Syntec digital. In fact, 60% of employers have limited use of their tools. They use it to write emails, browse the internet … and only 40% of them hold meetings online or use professional applications. And this, despite having an average of 3.7 terminal and say use both at home and in mobility.

Worse, some even confessed that "after ten minutes" explanations of digital development issues "were bored". Key topics of the moment for this sector remain obscure to the leaders. The vast majority ignores all issues of cloud computing and the consumerization of IT.

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With 2.2 million customers earned in just two months, has already exceeded Free Mobile Virgin Mobile and its 1.9 million customers won in six years. But Geoffroy Roux de Bézieux, CEO of Virgin Mobile, do not admit defeat. After declining prices for its mobile plans starting January 11, he resigned from all his mandates (UNEDIC Medef …) to devote himself entirely to Virgin Mobile. He decided to strike back against the field of Free by launching its "Virgin box" ADSL and the first quadruple play (Internet, television, landline and mobile) market in less than 30 euros, including a mobile subscription (2 hour voice and sms). In Mobile, Virgin Mobile is launching a mini-package to 4.99 euros per month (for 45 minutes of calls and 450 SMS) and packages from EUR 12.99.

LE FIGARO-Virgin Mobile Will he survive the arrival of Free Mobile?

Geoffroy Roux de Bézieux-course! We intend to play the return match and the win. Niel has no monopoly on consumer protection. Virgin Mobile launches quadruple play offer (TV, Internet, landline and mobile), which is the cheapest on the market. We are less than 30 euros, while the average bill is more than 40 euros. If prices fell in mobile, fixed Internet on the bill for households is increasing. When we give moral lessons to everyone, we must be consistent in all markets! The credo of French Internet the cheapest in Europe, created by Xavier Niel, and conveyed by ARCEP, has become false. The fixed market in France is now oligopolistic. This allows Free to have margins of 39% and fund its mobile offering.

Are you facing a haemorrhage of customers?

Free Mobile to launch, it's true, we experienced a spike in departures. But that was quickly calmed. By the third week, that number fell, and fell further after the failure of Free March 20. Free Mobile is like Ryanair: you pay less, but you take off from Beauvais. Everybody does not want it. If we have lost customers, we also won. In the end, we lost 24,000 net customers, slightly more than 1% of our customer base. Neither more nor less than other operators.

Have you pumped up the numbers in March through promotions on private-sale?

No. We have fewer and fewer cancellations and more of recruitments, with our range Extaz, which has enrolled more than 100,000 customers in less than three months.

Virtual mobile operators (MVNO) are not they eventually threatened?

Virgin Mobile is no longer an MVNO like any other, it is a "full" MVNO. This means that we are not content to buy more minutes of telecoms but we have invested tens of millions of euros to build a network of heart. So we have the benefits of a network operator without its drawbacks: we touch the money when customers of other operators call our customers. We control our prices and have a real free trade. But unlike Free we are not forced to deploy expensive antennas.

Did you anticipate such an impact?

The day after the launch of Free we have aligned our prices. A quick response indicating that we were ready. I even took my team to Lorient in naval commandos prepare the response plan. A tariff to 19.99 euros was part of the scenarios, although this was not the one we preferred.

What will the impact on your margins?

Our sales increased 21% to 567 million, and EBITDA to exceed 30 million euros for the year ended March. From January to March 2012, activity was still up 13% despite the arrival of Free Mobile. The year 2012-2013 will be more complicated. We will focus on growth and invest in the quadruple play. The downside of this strategy is that our margins will be penalized. But we will remain profitable.

Why not be sold Virgin Mobile before the arrival of Free?

Virgin Mobile is not for sale. This is a scarce asset, growing. If we had had to sell, we would have done in 2011 as Vodafone, which has shrewdly sold his shares in SFR.

Tackle the offer that Free is committed to MVNOs?

We are not litigious. But the wholesale offer Free is inoperative. Given the difficulties of Free network, its limited coverage, pricing, no one's interest to be at Free MVNO. ARCEP has to ensure that the commitments that were made.

Do you, as President of ARCEP, the arrival of Free will eliminate 10,000 jobs?

I am afraid it is much more, if only in that sub-contractors. Nobody seems to get upset because these jobs are not embodied in a factory, but scattered around among operators, distributors, OEMs.

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Through the door of an auction house rather than a real estate agency, the approach may seem perilous. However, choose to sell a property at auction may be appropriate. Advertising important to alert many potential buyers. The seller also benefits from a guarantee that it does not ensure a more traditional sale. Also, no need to be an expert because the route is marked by the notary as explained Mazodier Carolina, a journalist with The Monthly Individual.

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Shadows of the Chinese economy remain numerous. And the statistics are no exception to the rule. The National Bureau of Statistics (NBS) announced that it had uncovered two cases of falsification of official statistics in small provincial towns. Party cadres from the town of Hejin, Shanxi Province, industrial province west of Beijing, and has provided hoteliers, steelmakers and miners still figures to report their activities to the statistics agency official.

Figures "seriously wrong", to quote the words of the SNB on its website. In a suburb of the megacity of Chongqing in central regions, local potentates asking for their part, businesses in their districts to pre-approve their accounts before sending them to the Statistical Office.

Promoting political and economic performance

The phenomenon is not new in a country where the race for growth is initiated for three decades. By province, the Party cadres hope to link their political promotion to their economic performance. And for years the People's Republic regularly reviews its copy on its growth rate, one year after the revised figures ski provinces.

The gap between the ambitions of local apparatchiks and the requirements of a central government is now pointed to by the SNB. Last month, the official newspaper Economic Daily reported that, according to figures from the office, the Chinese provinces have reported a GDP of 6.276 trillion euros … is 557 billion euros more than the government figures! A margin of error equivalent to the GDP of Switzerland

. Credibility issues

Anxious to remain credible, the second global economy has embarked on a massive cleaning of its statistics. "Any institution or individual who falsifies data will be exposed to serious sanctions by the national office, according to law," warns an official from the SNB. Last October, two officials of the central bank and the SNB had been arrested for revealing the figures of China's growth before the official announcement of the office and earned commissions "considerable" in the words of investigators, for these leaks.

A few months earlier, the government agency had already announced its intention to reduce the number of people with access to encrypted information of Chinese growth, and the time of publication of data, to limit insider trading.

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