Deficits: "Germany is a gift to France"

Auto Date Wednesday, May 8th, 2013

 

Director of the Berlin office of the European Council on Foreign Relations (ECFR), political scientist Ulrike Guérot specializes in European issues and connoisseur Franco-German relations.

LE FIGARO. – What is the state of the Franco-German relationship today?

Ulrike Guérot. – There is tension, but it is when the couple quarrel! Do not idealize the past periods, which were not nearly as pink as they say. The creation of the euro was a Seven Years War! We fought and it was constructive. Symbiosis, as in 1 and Merkel Sarkozy was stifling for the rest of Europe. But beware, the Franco-German crisis is constructive if there is a political will to resolve and make a deal that gives air to other countries out

.

Do you break something constructive between Paris and Berlin at the moment?

It is true that at this moment you have to dig far down the tunnel to see the light! The task is enormous. The first emergency, these are the reforms in France. Because France has lost its structural parity with Germany. As a result, it becomes difficult for it to enforce its views. To make its voice heard within the Franco-German couple and Europe, it must be straightened out economically.

To date it when you drop the Franco-German?

Based on macroeconomic data, it dates from 2007. In 2003, France and Germany have all violated the Stability Pact. Germany took the opportunity to make the reforms that are needed. France, she did nothing of the sort.

Germany agrees to give two more years to France to meet the 3% deficit. Berlin he renounces his principles of rigor?

No! It's like a gift that makes Germany to France. It must use this respite of two years to reform and prove that it is a serious country. Since Germany has decided to abandon the D-Mark in 1992, it expected that France wakes embraces the enlargement of the EU, globalization, and launches the debate on the future of Europe, it stopped in 2005 after the "no" to the European Constitution.

Why such a gift to France?

As for Germany, France is a special case. This is not Cyprus2 nor Greece3. Against France, Germany was out of respect. In this crisis, France is "systemic" if it skids financially and economically, it is dangerous for Germany and the rest of the euro zone

.

Germany Does not concerned that France take this time to do nothing?

There was this fear. But there is also hope that Holland make reforms, as Mitterrand was able to do in 1982-83. There is no alternative to survive in globalization.

What are the most awaited reforms Berlin today?

Germany expects a new pension reform, the abandonment of 35 hours, a further reform of the labor market, social security and sanitation deficits. It must do all that southern countries of Europe have done. And do not put as a prerequisite for its reforms pooling of eurozone debt! This is France to take the first step today. This is the condition for the revival of Europe. It also requires that Germany do more efforts on domestic demand and wages. This is a reciprocal movement. It should be a summary of a European social contract.

The cruise still prefer mégapaquebots

Auto Date Sunday, March 17th, 2013

 

Its massive silhouette left Thursday Saint-Nazaire, the port construction. With its 333 meters long, the "MSC Preziosa" is the largest cruise ship ordered by a European ship owner. After two years of construction, the vessel is the fourth vessel of a size comparable to the Italian-Swiss company MSC Cruises and the twelfth of its fleet.

"We need this size of boat to continue to offer a true holiday experience, says Erminio Eschena, CEO of MSC Cruises France, Belgium and Luxembourg. It is to respond to the heterogeneity of the public with a variety of equipment. "

Of ever larger vessels

In recent years, the owners engage in a race with ever larger vessels multiplying the range of leisure on board. While in the early 2000s, the average capacity was around 2000 passengers, she quickly rose to 3000 and now exceeds 4,000 people. The sinking of the Concordia, which sparked debates about the gigantic ship, nothing changed. The future flagship of Costa Cruises, the "Diadema" will welcome 5,000 passengers in 2014.

The formula seems to work. According to the International Association of cruise (Clia), the number of cruise French rose 9% in 2012 to 481,000 passengers pass when the European market grew by only 1%. France from the very late: the market occupies the fifth place in Europe, behind Great Britain and Germany. "It is rather a good figure considering the economic and market maintains a strong development capacity," said Georges Azouze, President of the French Association of cruise lines.

Good value for money

"With these large ships, the sector has benefited from a sharp drop in average ticket price has fallen by almost 30% over the last five years," said Didier Arino, director of consulting firm Protourisme. According to him, the quality / price ratio has progressed to the cruise vacation mode as an alternative, accessible to the greatest number.

Where upscale cruises on smaller ships often exceed 2000 euros per passenger, the tariff on these mégapaquebots which represent the vast majority of the offers may drop to 700 euros per week all inclusive, and even less with promotions.

Finally, the impact of the accident Concordia was more limited than expected. At MSC Cruises, it is estimated that the disaster had "no commercial consequence" while the side of Costa Cruises European leader recognizes that the tragedy has broken strong dynamics while adding, without elaborating, that the figure Business 2012 is in progress.

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The advance tax credit for SMEs competitiveness unlocked

Auto Date Wednesday, February 27th, 2013

 

VSEs and SMEs can now request a cash advance on tax credit for competitiveness and employment (CICE), announced on Tuesday the Minister of Economy, Pierre Moscovici, and Minister for the Budget Jerome Cahuzac . The smallest firms, so the most fragile in the current context, will benefit now that key measure of competitiveness pact, which aims to alleviate the burdens on businesses. They will not have to wait until 2014 to receive a check from the government. The amount that the company can receive will depend on its payroll in 2012. "Small businesses may request pre-financing directly from OSEO, future pole Bank financing public investment (BPI), by ceding the CICE debt they have on the state," says Bercy.

Moreover, OSEO is "immediately establish a guarantee fund" which will allow commercial banks also offer pre-financing of SMEs CICE, "BPI covering up to 50% of the risk involved in these operations," says Ministry of Finance. Commercial banks can offer pre-financing companies "to the beginning of the second quarter."

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Maurice Taylor, a boss of Midwest without complex

Auto Date Thursday, February 21st, 2013

 

From our correspondent in Washington

Maurice Taylor is well known United States. But only in the world of tire. His outspokenness that shocks the French syndicalists today, is however in the standard of an industrial world of Midwest where the bosses who have made themselves all alone are not afraid to call a cat a cat.

Native of Michigan, aged of 68 years, "Morry» Taylor is respected for his exemplary career. After be past by Michigan Tech, a University of Houghton (Michigan), he is first illustrated for years as seller of wheels. "I followed 257 engineering courses. None me has never served to nothing, "confessed-he in 1996. His stroke of genius goes back to his redemption in 1983 for 6 million dollars of a factory wheels Quincy (Illinois) Undercutting by Firestone. "Some do will see that waste where others will see of gold … When I saw this factory, I understood that it was an opportunity in pure gold of 24 carats ». From this investment, in association with Canadian industrialist Joseph Tanenbaum, Maurice Taylor has mounted an empire, redeeming over the years and worldwide, factories and activities that large groups as Goodyear abandoned.

Renamed Titan International, the group was introduced into scholarship in 1993. He today employs 3,600 people and its turnover approach 2 billion dollars. Maurice Taylor loves say that his style aggressive in respect of Wall Street analysts has earned him the nickname of "Grizzly». But outside of the universe complex and competitive of the tire for agricultural machines and construction vehicles, "Morry» Taylor, is not a star. His remuneration, bonus understood, is modest. It does not exceed 3 million dollars.  

There long as one has forgotten his candidature botched for the Republican nomination in 1996. By spending 6.5 million dollars of his personal fortune, he did receuilli just 1% of voice cons Bob Dole, the candidate of the establishment.

Without complex

The active participation of Maurice Taylor to political debate has decreased in recent years. Its blog has no been updated since October 2010. This is also at this time that was the last whole page he is offered in the daily USA Today for denounce what he judge be "incompetence" of Barack Obama and democrats. His crusade cons the growing role of the State conforms to the republican rhetoric liberal. "Who wants leave at Government 40% of the money that you will earn in outgoing of the school?», Launched-he to a group of high school students in 1996. When a young "at look weird" has lifted hand, Maurice Taylor has replicated from tac at tac: "Note the name of that one. It must be put in a institution and study its brain. He is not human. It is a extra-terrestrial ».

Maurice Taylor is not more diplomat with the U.S. government than it is with Bercy. "Who still believes what recount the politicians? It does mean anything. There has many egos to Washington.

We would be better if we closed it all, "he explained at the beginning of months in a magazine professionals of the tire. He spends weeks visiting tire factories in difficulty on all continents. Sometimes it in redeems a. It negotiates at this moment a taking participation majority in a society of wheels in India, Wheels India Ltd. which account develop its exports to America and Europe. It is far from 2008, epoch where he appellait in its advertisements on television to buy its tires "Made in America». We the see saying: "Put a tire Michelin on a tractor American, is like putting a beret on the head of a cowboy. Put a tire Japanese Firestone on a tractor American, is like making wear a kimono to farmer ".

The "grizzly» do not regret these About. "This is the truth at the time Michelin sold his agricultural tires to loss to United States. In our factories in India, one wants produce for the market local. This is what we do in Brazil also. It is necessary that consumers buy tires facts home ", we explains Maurice Taylor, without complex.

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U.S. unemployment rises in January

Auto Date Friday, February 1st, 2013

 

Washington, our correspondent

At first glance America has created fewer jobs than expected in January. That explains a rise of 0, 1 to 7% unemployment 9%. Behind these figures lies a disappointing trend more favorable revision to higher job creation in November and December. 127,000 more positions that we believed were created during the last two months of 2012.

The gains of 247,000 jobs in November and 196,000 jobs in December showed that the U.S. economy is close to the monthly rate of 250,000 considered necessary to sustainably reduce unemployment. It is possible that the estimate of 157,000 jobs created in January released today by the Department of Labour is in turn positively revised next month.

"Pause" growth

The full year 2012, the U.S. economy, driven by extremely stimulating fiscal policy and monetary policy of unprecedented generosity, produced an average of 181,000 new jobs per month.

Other encouraging signs emerging from official statistics of employment in January. The average hourly earnings continue to rise 0, 2%. Construction, retail, leisure and hotel industry realize solid hiring. The return of net contributions in the construction labor market confirms the recovery crucial property.

Overall, these data are consistent with the coolness of the Federal Reserve said Wednesday that "pause" the unexpected contraction of 0, 1% annual rate of gross domestic product (GDP) in the fourth quarter.

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Unions and employers reached an agreement

Auto Date Sunday, January 13th, 2013

 

26 hours of debate over two days, were necessary for the social partners to put a stop to the negotiations on securing employment began on October 4. And stop on a draft agreement which should be validated by three unions in five. Both sides drew at the end of the last session tonight. On the one hand, FO and CGT voiced their opposition to the final text. "This is a dark day for employees, it will institutionalize the precariousness of work," commented Stéphane Lardy unsurprisingly, FO. "We are very far from the initial government target to reduce job insecurity", agreed Agnès Le Bot, the negotiator of the CGT.

The other, CFDT, CFTC and CFE-CGC are instead welcomed the compromise. "The text is not exceptional but it is acceptable," Joseph found Thouvenel, Vice-President of the Central Christian. "The discussions were very difficult but we got the four points we missed was set on returning to the negotiations," confirmed Patrick Pierron, the negotiator of the CFDT, which will have almost held the pen with the MEDEF in drafting the final agreement now subject to the approval or rejection of each organization.

Several advances are noteworthy in terms of securing rights and new employees. Starting with a taxation expected CSD, via an increase from 4.5 to 7% of the employer's unemployment insurance for different types of contracts and their duration. The CFDT has also pulled a generalization of the complementary health care for 3.5 million workers currently not covered by a collective agreement. Finally, the reformist union got better supervision of part-time and creating rechargeable rights for the unemployed who accept the end of their benefit period, to take a job. Employees will also be closely involved in the strategy of large companies with a vote given to unions in bodies of groups of more than 5000 employees in France, as recommended by the Welsh report.

"This is a good agreement"

The employers' side is also of course welcomed the text to which the social partners reached. "This is a great deal," acknowledged relieved Patrick Bernasconi, the leader of the MEDEF, which puts forward the foremost elements of flexibility that has torn the unions. The famous agreements job retention, new name for competitive employment agreements dear to Nicolas Sarkozy, secure and will now allow companies to more easily adjust working hours and wages in the event of economic downturn.

Social plans will also be more secure with negotiating formal arrangements in their committee or administrative certification automatically if no response within three weeks. Also a form of cap damages in employment tribunal conciliation phase, employers have finally achieved a reduction to 24 months, against 5 years now, the limitation period where an employee has to attack, unfair dismissal, his former employer.

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Virgin will file for bankruptcy tomorrow

Auto Date Wednesday, January 9th, 2013

 

Considered the possibility Friday is now confirmed. The direction of Virgin Megastore said Tuesday morning that it will file the results tomorrow before the Commercial Court of Paris. The announcement was made before several elected council, met for the second time to examine "the draft declaration of insolvency" of the company in financial difficulty.

Union representatives said they refused to give an opinion, but said that management believes they had a negative opinion, which enables it to override. "The Chair (Virgin, Christine Mondollot) will go to court business," said Jean-Luc know Breyne elected CGT EC AFP. An administrator will then be appointed, which will focus on the fate of some 1,000 employees of the brand, which has 26 stores.  

Trade unions believe that Virgin has not the means to finance a social plan and call for its majority shareholder (74%), the investment fund Butler Capital Partners. Laurent Paqueret, a representative of the fund, was present at EC Tuesday morning to answer employees' questions. But, according to Guy Olharan (CGT), they "encountered an end of inadmissibility" on his part. "Butler refuses to take responsibility for financing the social aspect of everything that will unfortunately follow," he lamented on behalf of the elected EC.

"All possibilities discussed"

In the entourage of funds, it is argued that "Virgin of cash and assets, it may assign to finance socially." The brand has already recovered 20 million since 2008 by selling leases several stores, including those at Bordeaux Merignac and the Louvre. As it is expected to get its flagship store on the Champs-Élysées.

"The shareholders have invested $ 15 million in four years," said Butler also close, pointing out that such shareholder has reorganized the logistics and also opened stores (Saint Lazare in Paris, Rouen, Toulouse, for example).

The fund, which has successfully recovered Groupe Flo and France Mushrooms, defends himself by arguing that the distributor of cultural products was already in trouble in 2008, when he put his hand on it. He hoped to make a professional electronic games market has since returned, suffering from competition from the Internet. Revenue has not declined steadily from 371 million euros in 2008 to 313 million in 2011. Similarly, operating income remained negative since 2006.  

With the beginning of the process of filing for bankruptcy, the company will have a breath of fresh air because its debts are frozen. "All options will be considered," a close advance of funds. The most likely scenario, however, seems outright end of the sign, with a further assignment of leases of stores.

According to our information, patterns of partial recovery by competitors or partnerships with other distributors or brands have indeed been studied without success. The arrival of Virgin stores in Système U has been considered, but the project was not successful. Virgin was able, however, to implement a few corners in shops on BP motorway service areas last summer, but it was not enough to get the boat afloat.  

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Ready to employees: unknown solution

Auto Date Wednesday, December 5th, 2012

 

In financial difficulty, the producer of semiconductor materials Soitec plans to put 50 to 70 of its employees available to other institutions Grenoble by early 2013 as part of a method agreement. Paying temporary employees, the company reduce its fixed shots, "but also preserve employment skills," says Corinne Margot, HRD Soitec. "On one hand, we can amortize our downturn, on the other, our employees develop their employability," says she.

Regulated by law, the loan of employees can be done between a private and a public institution, on a voluntary basis and profit: the borrowing firm pays the correct amount of employee wages and that which it receives the ready should not gain any financial benefit.

Renault has also opted for the loan of employees but only internally. "1200 people are currently on different parts group sites for a period varies between one month and one year," says one in the automaker, which is immersed in a round of negotiations with its unions to make its plants more competitive. External mobility is however not on the agenda, although this measure is included in the agreement of management of jobs and skills (GEPEC) signed in 2011 with the union of the group. "For the moment, we manage to balance the workforce so intragroup external mobility is not a line of work," says one.

An unknown

Rhodia chemist, chip manufacturers STMicroelectronics, Freescale or Soitec are few companies have experimented actually paying their employees to outside companies. "The tool is not used because it is well known, explains Olivier Bony, HR consultant at development agency organizations and individuals, which connects SME wishing to lend manpower. Companies are reluctant vis-à-vis the device because they wonder: is that my employee will return? Is it wrong that I feel abandoned? Who do I pay? ".

"On paper, the idea seems great but it is not certain that the implementation is so simple Analysis Damien Leblond, associate director of recruitment firm Selescope. We need companies that lend employees are in the same region. The question of privilege arises too. In general, you pay your employees to a competitor, "says he.

Reintegration stressful for employees

This is not the first time that Soitec lends a portion of its workforce. In 2009, 19 employees worked for 18 months at the Atomic Energy Commission (CEA) in Grenoble and had saved 700,000 euros to the company. Both entities were familiar since Soitec was originally a small start-up of the CEA. "It has therefore facilitated the loan of employees," says Fabrice Lallement, Soitec CGT union representative. "But the most difficult was the reinstatement of the employees, he says. They would find an equivalent position at Soitec, but could very well change service or manager, a possibility that has much stressed. "

50 to 70 candidates to leave their post in which companies are still unaware of Grenoble will be affected. However, "they are likely to have already applied, says Fabrice Lallement, because the interest is to change the environment and discover a new business."  

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The new French champions technology soaring stock market

Auto Date Saturday, November 3rd, 2012

 

In France, the high-tech is not dead. Despite the difficulties encountered by Alcatel-Lucent, STMicroelectronics and Technicolor, new champions emerge. Best known to the general public is of course Iliad, the parent company of Free. But behind two champions show up in areas of excellence in France, with Dassault Systèmes software (whose parent company owns Le Figaro) and smart card with Gemalto. Investors decided. These new players have become the new heavyweight on the Paris Bourse. Even if they have not yet come into the holy of holies of the CAC 40 index, their market capitalizations exceed those of the best known industrial groups. Thus, 10 billion, market capitalization of Dassault Systèmes equal to that of Renault! Free and Gemalto are respectively 7 and 6 billion, almost as much as Solvay, which has replaced Peugeot in the CAC 40. Importantly, these three new heavyweights in the high-tech French far exceeded the former glories Alcatel-Lucent (market capitalization of $ 1.8 billion) and STMicroelectronics ($ 4.2 billion), which are still in the index.

Old players Alcatel-Lucent, STMicro and Technicolor (formerly Thomson) are struggling. They are penalized by the legacy of a complex history. They have to make heavy investments in their factories and R & D to remain competitive globally. International competition is particularly hard for these former giants of French industry.

Gemalto, a world leader

In contrast, the new French champions are focused on narrower segments, growth, and they expect the transformation of their businesses, without abandoning their historic presence in France. Their success is based on technological or business major.

Founded in 1981 by fifteen engineers from Dassault Aviation, Dassault Systèmes has begun with Cati software, developed in-house to design aircraft group, chaired at the time by Marcel Dassault. Instead of using a software U.S., the group wanted hers. To market its software, renamed "Catia" Dassault Systèmes sign, since its inception, a global distribution agreement with IBM unraveled two years ago. Most groups, aerospace to automotive to consumer distribution and even energy or editing special effects, have been seduced by the performance of Catia and its extensions. These have been designed or purchased by Dassault Systèmes including testing, simulation, research and product documentation. The French publisher offers "a full spectrum of ten software, including five world champions in their field," said Bernard Charles, CEO of Dassault Systèmes. The success is such that its market capitalization exceeds that of its U.S. competitors and Parametric Autodesk.

Another French champion technology, Gemalto, was born in 2006 marriage of two French leaders Gemplus and Axalto, a subsidiary of Franco-American Schlumberger. Directed by Olivier Piou, the company, the world leader in smart cards, today presents itself as "the world champion of digital security." Its chips, delivered billions of units to telecom operators for mobile phones contain many software to remotely manage the SIM card. The group also directs the contactless payment, the connections between machines and secure identity documents, the high-growth segments. These guidelines encourage Gemalto to become more of a software company, while maintaining the plants. And 3,500 of its 10,000 employees are in France.

Finally, Iliad was able to force commercial and technical innovations. Thanks to its Freebox, the small operator has risen in a few years as the second ISP in France with more than 5 million customers, behind France Telecom. Completed a course in its recent offensive in Mobile, where he won 3.6 million customers in six months. A success that allows him to talk with the giant Vivendi and consider why not merge with SFR. Result: market capitalization exceeds 7 billion, more than 5.9 billion Bouygues group with its subsidiaries in telecommunications, construction, real estate, roads and the media.

Fram tour operator seeks 15 million

Auto Date Saturday, October 27th, 2012

 

"Fram needs oxygen," says George Colson, who has just taken over the leadership of the Fram tour operator, having already occupied between 1991 and 2005. The group's financial situation is difficult. "That means 5 million to 10 million short-term and medium-term additional" calculated Georges Colson.

The consequences of the economic crisis in Europe and the price war which engage the operators explain the current difficulties. "We probably lose 20 million euros over the year," says George Colson. Poor performance more for the tour (441.7 million euros in sales last year), who has posted 10 million loss in 2010 and 23 million in 2011.

To raise funds, Georges Colson appealed to an independent expert, who "our real estate valued at 121 million euros." The group could then obtain loans from its banks by mortgaging his property. Disposals of assets, including its subsidiary road transport are also considered.

Beyond liquidity problems, the group must find its financial equilibrium. "We are aiming for a result close to balance in 2014 and a profit in 2015," says George Colson. To achieve this, the strong man Fram will pursue the strategy defined by Olivier de Nicola, yet he landed the position of Chairman of the Board on October 10 low interest personal loan. "There was a difference in the short-term strategy," said without elaborating George Colson. We must understand that Olivier de Nicola campaigned for a shock when George Colson looks for smaller measures.

10% of staff deleted

The group announced and social concern finally being 60 people in France, the 600 group employees in France, when Olivier de Nicola thought impossible to go below 67. The former leader also wanted a drastic revision of relations with distributors, mainly travel agencies, while George Colson relations advocates simply "more balanced." Also bearing at least until next year's cap Union President Travel Agents (SNAV), the situation of current leader Fram is complicated.

If the results do not recover, it will raise additional capital. Georges Colson expresses no objection to the entry of a new shareholder. However, it will reach an agreement with his sister, Marie-Christine Chaubet, with whom he is in conflict since 2006. They each have a 40% stake, with the remainder in the hands of Air France and several minority shareholders. A new shareholder could tip the balance. Its entry is likely to be difficult to negotiate.

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