The atmosphere was just as friendly between Valérie Pécresse – which still required to get the message that it left "no surprises" to the left on the fiscal front – and Pierre Moscovici (along with Jerome Cahuzac). The new head of the Ministry of Finance took the opportunity to tell that in the late 80s, he passed the test of Ena public finances the young woman … and that she "had the best score." Laughter in the room …

Since Friday, the plant Fralib is occupied by its employees. A situation that is denounced by the president of Unilever France, Bruno Witvoët. "This is unacceptable in a constitutional state, says in an interview in Paris-Today-in-France. Such a coup with hooded individuals armed with baseball bats and batons, it is not of union action, it's a commando! ". The boss of Unilever France claiming the expulsion "immediate and prompt action with law enforcement" employees, has also filed a complaint for "physical threats" from the police. "From fabrications," Olivier replied Leberquier, CGT union. According to the police of Aubagne, intervened at the scene, there would have been no collision.

"Holland must keep its promises"

"Closing a plant is always a very difficult decision, Bruno recognizes Witvoët. But in some cases – including tea bags – we have overcapacity. This is justified in stopping this site ". He said Unilever has taken responsibility in the case of employees of Fralib, accepting "to add additional resources for the revitalization of the local employment" as required by justice. "Funds for creating new jobs has increased from 1 to 1.5 million euros" and "each dismissed employee is entitled to an internal transfer, pay the same conditions, in one of six other plants in France , "he said.

This new twist, the 592nd day of the conflict comes as 80 of the 103 employees still struggle, of 182 initially received their letter of dismissal. At the same time, a moving company came to do a quote on the site, and management proposed the CGT to move out of its local business, or in organizing the escorted access, for reasons of safety concerns, dismantling machinery. A scenario rejected by the union, which wants to keep the tool working on site to implement an alternative plan of recovery of activity.

Given this situation, unions are demanding the intervention of Francois Hollande. During the presidential campaign, President-elect said: "Nothing is done, nothing is guaranteed and if victory comes, I will also be at your side, President of the French Republic, to get your site live, had he launched at a meeting of employees Fralib in Paris in February. "The company is now under the control of the CGT and the Netherlands should keep its promises. His election is a ray of hope, "says Olivier Leberquier. The standoff between employees Fralib and its direction is far from over.

The allocation is a constant option contract of life insurance. This smooths market fluctuations by defining a distribution of amounts paid life insurance contract between the different media that he is leaning. The allocation principle thus applies to contracts linked life insurance.

Namely: in some cases, the allocation is also called constant distribution constant.

The operation of the constant allocation

The insured must determine its profile management, in deciding to assign to each holder a percentage of total capital. Thus, when losses are recognized following a stock movement, arbitration is automatically performed to rebalance the distribution of capital of the insured.

For example, suppose a contract of life insurance of € 10,000 allocated to fund 50% in euros and 50% unit-linked shares. After a year, the accounting units have experienced a gain of 10% and the euro fund a 3% gain. The contract contains so now € 5,500 units of account and funds in euros € 5,150 or € 10,650 in total. It is distributed to 52% unit-linked funds and 48% in euros.

The initial distribution intended by the insured is no longer respected: the contract is more exposed than expected stock market risk. The difference can of course get bigger every year. The option allows you to return to the desired proportion, 50% / 50%, to maintain the desired level of risk low interest rate personal loans.

Subscribe constant allowance

When subscribing to a multichannel contract, the insured may request an allowance optional subscription constant. It is however also possible for an insured to apply for the allocation constant during the contract. Therefore, it must determine its management profile based on several parameters:

-The frequency of rebalancing,

-The media involved in the arbitration,

-The threshold at which the arbitration takes place.

Note: often give rise to arbitrage costs. The constant allocation option is no exception to the rule.

Advantages and disadvantages of the constant allocation

The main advantage of the constant allocation is that it allows management to determine automatically matched to a profile. But it also helps secure the capital gains generated on the stock market by assigning them to more stable carriers.

The main drawback remains the systematic allocation constant, in the event of significant market fluctuations, can generate a lot of arbitration costs.  

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Condemned worldwide, the coup of Cristina Kirchner in Repsol has not affected the Argentine government. Quite the contrary. According to survey, 6 out of 10 Argentines approve the expropriation of the oil company Repsol by the government on April 16, the operation was brutal.

To believe the latest details, disclosed by the press, President Cristina Kirchner had not finished his speech on Repsol, broadcast live on television that a delegation led by Minister of Planning Julio De Vido and vice Minister of Economy Axel Kicillof suddenly landed at the head of YPF in Puerto Madero, the business district of the capital.

Argentine officials have scarcely left time for the Spanish leaders in shock, to take their belongings and leave. "They have not even had time to finish their lunch!" Says an industry leader offended. Some company executives subsequently undergo intense interrogation by the police.

While Spain, Europe and the U.S. protest against the nationalization of another age, questions remain: how did we get here? Why the expropriation?

In Argentina, the wild rumors circulating in the oil industry. Some saying it would be the fear that the Chinese buy YPF (groups Sinopec and CNOOC are already present in Argentina) and Argentina over the oil that would have prompted the government to act, with the blessing of the United States.

Seriously, Repsol, we are persuaded that the discovery of huge deposits of oil and gas shale Vaca Muerta, in the province of Neuquen (South West) was the trigger operations. This discovery, announced in November by the CEO of Repsol, could propel Argentina's third largest reserves of oil shale, behind China and the United States.

Resources would be estimated at 22.8 billion barrels. What the future of Argentines, although this scenario not totally convinced the experts. "The existence of these deposits has been known since 1984! The only difference is that today the technology exists to exploit them, but it takes a lot of capital that the government alone is not able to provide, "said oil consultant Eduardo Barreiro.

Energy deficit

Another scenario, more credible reports of negotiations for several months with the Spanish government to finance part of the country's fuel bill, up 110% in 2011 to 7 billion euros instant credit report. For the first time in years, the Argentine energy balance is in deficit of 2.27 billion euros, beating down the accounts of the nation.

In Argentina, more than elsewhere, the external deficit is problematic as it is to be financed without recourse to foreign capital, the debt markets are closed to the country since its bankruptcy in 2001. Accusing Spaniards of being responsible for this deficit, for not having enough invested in oil production, the Argentine government did not hesitate to ask Repsol to use its profits to finance energy imports rather than repatriate dividends in Europe.

Already forced the government to sell its oil at half price in the Argentine market – 42 dollars a barrel – Repsol would have raised an objection of inadmissibility to this formal request. "Repsol YPF, which held 60% of deposits in the country rejected the government's terms, and it has broken down the bridges," says the lawyer for a U.S. oil company established in the country.

According to former Secretary of Energy Emilio Apud, the takeover of YPF may represent "a very good deal for the government who will have access to a" cash "equivalent to more than 11 billion euros in turnover business year, "to finance its oil imports.

Buenos Aires seems to also want to seek help from new investors to boost oil production nationally. Pending the adoption of the bill of expropriation by Congress, the Planning Minister Julio de Vido, interim head of YPF, met executives of Conoco Phillips, Chevron and Exxon. He met with Vice President of Total America, the second largest gas producer in Argentina. On leaving the meeting, he announced an agreement on an increase in production on two million cubic meters in the deposits of Neuquen (South West). Evidence that the government does not get angry with everyone.

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The war between the Galeries Lafayette and Casino about their joint venture Monoprix changes dimension. The two shareholders clash since January on the valuation of 50% held by Monoprix and Galeries Lafayette: 700 million euro under Casino, 1.95 billion according to the owner of department store chain. The battle now drift on managing and Monoprix on its pricing policy.

Jacques Dumas, counsel Jean-Charles Naouri, principal shareholder and CEO of Casino, sent an April 17 letter to Philippe Houze scathing, president of Galeries Lafayette and Monoprix CEO. He criticized "an excessive increase in food prices" at Monoprix. The price index of the sign, which compares its rates to the market average (set at 100), rose from 107.7 at the end of first quarter 2011 to 110 a year later.

"This abnormal increase explains a significant share of the increased turnover of Monoprix end of March 2012 (+5.9% yoy) and corresponds to the bulk of the growth in operating profit in the same period," according Casino, which accuses her partner of "sharp to distort fair assessment" of Monoprix.

Pointing to the risk that rising prices does escape the consumer and leads to lower sales of the profitability of Monoprix, Casino Philippe Houze asked to "give instructions to stop such practices and ensure a normal management Monoprix" . Clearly, "Monoprix must return to an index of 108 tariff, as provided in the medium-term plan established in November," decrypts a spokesman for Casino.

The group Saint Etienne "will implement all actions necessary to safeguard the interests of Monoprix and its shareholder rights" against the Galeries Lafayette, prevents mail. In 2007, Casino revoked leaders Franprix and Leader Price, accusing them of having raised prices to give him a high price for their minority interests in these signs.

Monoprix group will choose a side

Philippe Houze's entourage speaks of "baseless accusations" and ensures that the increases, required in July by Jean-Charles Naouri, date from the summer. Casino considers that the increase, justified initially, was too strong and it continued beyond the reasonable in January.

In a few weeks, the Commercial Court of Paris will examine the respective assignments of the two co-shareholders of Monoprix. Galeries Lafayette blame their partner to hinder the evaluation process of their 50% stake in Monoprix, Casino accuses his partner of having refused to let the end of March to Jean-Charles Naouri President of Monoprix, as provided for their shareholders.

Mail Casino is a part added to the defense and the prosecution of the group against the Galeries Lafayette. But it will impact the management of Monoprix. Officially, its chief operating officer, Stephen Maquaire, placed a copy of the letter of Jacques Dumas, retains the confidence of its two shareholders. But he must choose sides or not returning to an index rate close to 108.

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What companies are doing to manage the "assholes" rotting the lives of other employees? They have their eyes on their economic performance, they advocate the dynamism and innovation to develop, but they show very little "attentive to these toxic personalities", who happen to be an unnecessary cost but very real for their s Finance boxes?

Deliberately provocative, "Target Zero asshole," the book by Robert Sutton, professor of management at Stanford, in any case a fixed cap at which leaders would be wise to look at things in front. "The assholes are costs that do not appear in cost accounting, but take stock of their damage is not so difficult," he says.

Robert Sutton, it is urgent to act because "they swarm." "All companies should adopt the Target Zero asshole because these people inflict considerable damage to their direct victims, organizational performance, but also to themselves." Increased stress and risk of heart attack among those who are victims, increased absenteeism and surge in turnover. Professor Stanford has even delivered a calculation of what costs such as employees at a company: it comes to adding a "for asshole" of $ 160,000 per year!

But what to do to achieve this "Goal Zero asshole"? Here are five recipes by Robert Sutton.

• Choose the right people. Assuming that "hire other assholes assholes," Robert Sutron, suggests that they deviate from the recruitment process or to involve also "civilized people".

• Identify employees pourrisseurs room and spend their time bully and harass others. To achieve Robert Sutton has listed what he called "their twelve nasties" daily. There are pell-mell "personal insults", "threats or intimidation," "humiliation or public reprimands," "hypocritical attacks" ….

• Limit their power to harm. For example by reducing the hierarchical boundaries or too large wage differentials that give them a sense of power and feel like superstars.

• Protect yourself. "The best and safest way is to keep you as far as possible from people and places contaminated by the virus," writes Robert Sutton. If this is impossible, since it's boss that he is only one solution: change the box.

• Be careful not to become "asshole" self. Robert Sutton, we are all "assholes" in power. Then you try not to treat colleagues as competitors and build instead a "win-win exchanges at work."

Obviously the method advocated by Robert Sutton has found its audience. Published for the first time in the United States in 2007, he has sold over 475,000 copies (all languages). It has just been reissued, proof that there is still work to overcome the assholes at the office.

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"Reconciling candidates and companies …" This is the purpose of the First Assembly of recruitment has organized last week Syntec recruitment consultancy. Dehumanization of the hiring process, operation of private data via social networks, growing constraints imposed by government on behalf of diversity … Executives, HR recruiters and exchanged ideas on these topics. "From these discussions will come from a series of forthcoming proposals," promised John Paul Brette, union president and CEO of Hudson.

The "CV citizen" will surely in part. Jointly launched in January by Syntec recruitment consultancy and association Odissée, this CV adds value to the charitable commitments, humanitarian, outside work. A student doing the tutoring, a mother president of an association of parents, a key company invested in a think-tank

. First act of management

"This kind of commitment can develop transferable skills in the workplace. The job applicants are not sufficiently aware of the highlighting. And recruiters do not always have the key for identifying, "says union president, who is engaged in promoting the CV to its members 140 firms. The National Association of HRD (ANDRH), building on its 5000 members, also supports this project. "Many HR will find a way to enrich their work," said Charlotte Duda, its president.

"Taking into account all the skills can promote diversity," says his side John Paul Brette. He sees this new resume an alternative to anonymous CV he calls a "false good idea". "It is certainly not the appropriate response to the issue of diversity," said he pay day advance. For diversity, focus and ultramédiatique recruitment, is not without a few questions … Affirmative Syntec is it not a form of discrimination? Firmly convinced that "the most diverse companies are more efficient," John Paul Brette regrets the "paradoxical injunctions issued by public authorities." "Positive discrimination on young people, over 55, women … It is too!" He summarizes.

The CV citizen is also a way to fight against the dehumanization of the hiring process, another great battle cry of union. "Over the past decade, much has been said process, cost, supply chain, up to outsource recruitment via hubs abroad. We forgot to talk about men, "is moved to the union president, referring to the computerized sorting of resumes by keywords.

Faced with this disembodiment, he recalls that "Recruitment is the first act of management." In 2011, the 140 member firms of the organization have done for their client companies hiring 22,000 frames – against 20,000 the previous year. A digit to be reported to the 180,000 hiring managers surveyed last year by Apec. "We cover the entire recruitment process, from defining the business need to integrate the new employee," he says.

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Then prices will drop? In this ritual question about real estate professionals meet today with a little yes. Certainly not a solid yes, frankly, but yes a little, and that is something. Even in the Ile-de-France and Paris, the traditional stronghold of the rise, things are changing. "In 2012, prices should fall by about 5 to 10% in the Ile-de-France," say solicitors. "We expect a relatively sharp decline in activity this year, about 20%, but a decline of more than 5% of prices in France," ahead of his side Pallincourt Rene, President of Fnaim, who is about to give up his siège.Au beyond the delicate exercise of global forecasting, rather symbolic as the evolution of prices can vary depending on the asset markets, all professionals describe the same picture, that of a market slows down, where transactions are less easily. But none ventured to compare the situation to that of 2008. "At that point, everything had stopped, said Sebastien de Lafond, President Meilleursagents.com. This is not the case today, the market remains fluid, even if transaction times are getting longer low fee payday advance. "What has changed in six months? Much and little at a time. Laurent Vimont, president of Century 21, says "a sharp contraction in sales, including in Paris." The slowdown is real: last year, with about 850,000 sales in the former, was a record. This year, professionals expect between 700,000 and 740,000 sales only. "We lost buyers since last July. The apartments and houses that have a default and are too expensive are the same most visited, "said Sebastien de Lafond. "What is new is that Paris is affected by volume, whereas it was the last market to be in 2008," said Mr. Bazaille, president of the Institute for Notarial real estate. The sluggish housing market is not good news for local authorities and public finances. And the change in taxation of capital gains might not make the tax revenue espérées.Finies, flights, quarter after quarter.

"More than at any price"

appetite for stone is real. Credits: Jean-Michel Turpin / Fedephoto

A few weeks before the start of the tourist season in Greece, industry professionals are concerned about given the country's image abroad. The clashes that broke out between police and demonstrators, repeated strikes in public transport and the crisis affecting the economy, trade and health, greatly tarnish the reputation of "Mediterranean paradise" Greece had so far.

For Francoise Deschamps, Director of Travel Agency Profile in Athens, it is a bad trial because the country. "Violence is not the nature of the Hellenes. There are fewer demonstrations and strikes if they only last a few hours when it comes to archaeological sites. The Acropolis is always accessible to all, "protested she.  

Lower prices

While acknowledging that bookings were down this summer, Francoise Deschamps makes a point of honor to overcome stereotypes, "apart from the American Express (which is rarely accepted because traders are unwilling to pay 7% commission) you can pay everywhere with a credit card or a Visa. No need to bring cash into oneself. Distributors are always stocked, "she says.

The large luxury resort with beach, private pool and gourmet restaurant at the guesthouse, hoteliers were for the most part, forced to lower room rates and offer additional services to each reservation. "Our prices have dropped by at least 20%," says Adrian Vassilikos, director of Airotel, owns six hotels in the country. If the crisis is especially hoteliers, because of increased taxes and reduced bookings, Adrien Vassilikos remains confident: "Tourists know that Athens, like the rest of the country, is one of the most safest in the world. No risk of terrorism or crime. The crisis has not increased the number of pickpockets. To this we must add that in case of accident or illness, we have very capable hospitals, providing care free and urgency, "he said quick cash.

Of solidarity

Tourism is the second largest economic sector in the country, representing 17% of GDP, after shipping. In 2011, Greece has benefited more or less the effect of revolutions and Arab tourism, compared to the previous year, increased by 10%. This year, some professionals rely on the solidarity towards Greece, shot by the crisis. This movement is gaining ground worldwide and in all sectors. Twenty major Greek groups, as the airline Aegean or Coca-Cola Hellenic, even financed full-page newspaper ads French, German, Dutch, Belgian and British. Under the slogan "give a chance to Greece", these advertisers show a country in flux, despite its economic vicissitudes.

A bank of tourism in the study

To improve the competitiveness of the tourism sector, the Greek government uses the aid of the "task force". This working group of the European Commission, whose representatives are installed in the Greek capital, shook the tourism industry. "Being competitive yes, but then to build infrastructure for mass tourism, there is a margin," worries Francoise Deschamps, Director of Travel Agency Profile. "Greece is a country that fits the needs of every tourist. You can still find himself alone on a beach, eating in a tavern or family homestay accommodation is unique and should not destroy it for the sake of competitiveness, "she adds. Several projects are in preparation at the Ministry of Finance including the creation of a bank or tourist development projects of ancient sites, remote islands from Piraeus or agricultural areas.

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