Business World |

Change at the top of ERDF, a subsidiary of EDF in charge of distribution. It Michèle Bellon, previously Director General of Dalkia – the joint venture with EDF and Veolia – who will succeed Michael Francony. An appointment will be approved at the supervisory board scheduled Tuesday, March 16. For Henri Proglio, the new chairman of EDF, distribution is a crucial topic. At the point of throwing a bomb in evoking the idea of separating employees common to EDF and GDF Suez in charge of this activity. "The teams ERDF complain of a lack of ambition and the sense of not really being part of the group. They also undergo feedback from customers regarding service quality deemed inadequate. Finally, teams must share sensitive business information with their main competitor, GDF Suez.On arrival, all this is very much ", said Henri Proglio earlier this year (read the Figaro, February 12). In other words, the roadmap looks Michèle Bellon particularly busy.

ALSO READ:

"Proglio upsets management of EDF

"INTERVIEW:" EDF is designed to coordinate the nuclear industry "

Automotive suppliers will even remove tens of thousands of jobs in 2010. This is reflected in the report prepared as part of the Committee in Support of subcontractors motor development by Christian Estrosi last September, whose findings were released last November. In the newspaper Les Echos this Monday, we learn that it is 40,000 to 50,000 jobs are threatened in France.

Currently, industry professionals, such as Michelin, Valeo and Faurecia still revolve overstaffed by about 25,000 jobs to outsourcing and 14,000 for the equipment of one rank, that is to say those who deal directly with major manufacturers."By adjusting the calculation from the future evolution of automobile production lights and possible productivity efforts, the Task Force falls even on an estimate of 40,000 to 50,000 jobs too," reads in columns the business daily.

The job cuts have already begun. Already, in late December, all suppliers were documenting 265,000 employees, or 35,000 fewer than in 2008, and 55,000 fewer than in 2005. Plans starts or closings of sites, almost all companies have downsized.

Positions on an ejection seat

Thus, 2010 will be another year of unrest in the area. Last year, pressure from Molex or Continental was rising power.

According to the Committee Estrosi, all branches, with the exception of the forge would be affected.The report mentions the possible disappearance of 7 out of 10 jobs in the molds and tooling in just two years, reports Les Echos. In rubber, overstaffing are estimated to 5,300 jobs from a total of 46,500.

The radar screens already viewing site closures. As the unit of Plastic Omnium Sandouville or that of Noyelles les Seclin Michelin.Furthermore, Visteon should further reduce its workforce, for example on the website and that of Gondecourt Renault Flins.

Moreover, the stress that a reorganization Echos – Meeting of the eleven branches in three areas – at Valeo lead to further job cuts, especially "in the administrative and executive officers," according to a coordinator CFE-CGC.

Ways to do better

This commission set up by Christian Estrosi, comprising manufacturers, suppliers, subcontractors, trade associations, research organizations, trade unions and elected officials, was intended to provide short-term measures to support sub-contractors in trouble, d 'solutions to better anticipate and better support the structuring of the industry .

Following the presentation of findings, Christian Estrosi and had announced last November some measures. Since the creation of a fund within the Fund for the Modernization of Automotive (FMEA) for sub-contractors of rank 2 and up. It especially allows easier access for SMEs (Small and Medium Enterprises) of the automotive industry to 2 billion euros managed by OSEO and the ISP for the strengthening of equity or quasi equity, established under the plan SME financing.

On the accompanying measures of economic and strategic changes, the state funding of strategic diagnosis for SMEs in the sector is provided for those who request it. Also, a platform or "stop" will be formed under the auspices of the Prefect, to inform SMEs.In addition, a working group on employment trends in the automotive industry has been launched. As a "scientific board" to provide a technical and manage the excess capacity of different sectors.

Regarding measures related to innovation, the government called for better coordination between clusters Motor (MOVEO, ID4Car, Car of the Future).

Christian Estrosi had said in late November that he was "very attentive to the establishment of partnership relations with all suppliers, large or small. A similar quality and price, was the preferred logic ecosystem around local produce suppliers.

The Exchange requested evidence

At the Paris Stock Exchange on Monday, Michelin lost 0.9% to 53 euros, Valeo drops 1.9% to 22.2 euros, Faurecia coward 1.33%, to 14.4 euros and sells Plasctic Omnium 1 13% to 25.4 euros.These companies sign strongest stock declines in the automotive sector.

For Paris-based analyst, "this plan is good news for the French automotive industry because it sends a strong signal of government support." He said he especially aims to create a shock in the short term."In market terms, it is likely that this plan has already been partially played, and he must demonstrate its ability to limit the drop in auto sales scheduled in the months to come," he said.

ALSO READ:

"The difficult reorganization Renault

"Reorganize the production car, a puzzle

"Opel is closing its plant in Antwerp

Valeo eliminates 5,000 jobs worldwide

"Visteon files for bankruptcy of its U.S. operations

Struck by the crisis, ThyssenKrupp restructures

"The revolt against Italy Fiat

The use of violence did not prevent layoffs

Review of the week, still not good on Wall Street. The flagship index of the U.S. coast, the Dow Jones has sold more than 1.3% over the last five sessions. On the month, it lost 3.5%, its largest monthly decline since February 2009. And from the peak of the year (January 19) at 10,725 points, it dropped 6.1% …

Note that the volatility index rose more than 4.3% on the session. This shows the nervousness of investors.

But Friday had sounded like a new breath of oxygen. The U.S. indices had opened up, certainly not stupendous, but reassuring. Investors initially reacted to the GDP growth of 5.7% in the fourth quarter of 2009. Note however that the whole of 2009, GDP fell by 2.4%.In addition, a new series of good quarterly results have agreed.

According to Christian Parisot, head of economic research at Aurel, "this figure is reassuring for markets and for the future." But that rebound is partly 'technical', relativize does. He explained to the tune of 3.4 points from a "stock effect". Croissancedu the fourth quarter will be weaker in the first quarter of 2010, he said.

Still missing, the index fell

Then the breath was cut. The indices have regained some equilibrium after 20 hours (Paris time), then slid into the technological rouge.Les weigh heavily on the trend. So that finally the Nasdaq plunged 1.45% at 2147.3 points. The Dow Jones dropped 0.52% to 10,067.33 points, under 10,100 points. And the S & P 500 dropped 0.98% to 1073.9 points.

Yet, at 15.45, the figures of industrial activity in the Chicago area for January were pleasantly surprising: ISM index rose to 61.5. Then, ten minutes tardn it was the turn of consumer confidence as measured by the University of Michigan to give pleasure: it has been revised upward to 74.4, reaching its highest level in two years.

The Dow Jones had already ended on a Thursday this very negative (-1.13% to 10,120 points), leaded by the disappointing statistics. Applications weekly unemployment benefits fell during the week ended January 23 (to 470,000) but less than expected. Similarly, orders for durable goods in December increased more slowly than expected (+0.3%).

Yesterday evening, Ben Bernanke has been extended for four years at the helm of the Fed. The markets saw his appointment as a continuity of monetary policy characterized by very low rates.On the same level, China has also sent positive signals to the market today. The Chinese central bank reiterated that it would maintain a "moderately flexible monetary control.

Microsoft guest star

Even the good performance of Wal-Mart (1.52% to 53.4 million) and The Home Depot (+2.5% to $ 28), failed to halt the downtrend.

It is largely explained by the decline in technology stocks. The index closed at losing more than 1%. Apple heavyweight, with a decline of 3.6% to 192.12 dollars, under pressure since he revealed his "Ipad.

The computer giant Microsoft has published the results of its second quarter lagged 2009/2010 after Exchange Thursday, with a turnaround in net income of 60%, to 6.66 billion dollars.The stock has lost 3.36% to 28.18 dollars.

Amazon also announced after market close a net profit in 2009 up 40% to 902 million. The fourth-quarter earnings soared 71% to 384 million. Turnover was 24.51 billion dollars, or 28% more than in 2008. In exchange, the share increased to $ 132 before subsiding, then fall from 0.49% to 125.41 dollars.

Mattel (-1.2% to 19.8 dollars) released before market on Friday, a dramatic increase in its earnings in the fourth quarter: 86% to $ 328.4 million. Over the year the Group achieved a profit of $ 528.7 million, up 39% as well, which reduced per share amounted to $ 1.45 against expectations of 1.24 dollars.

The maker of automation and appliances Honeywell issued before market also net income group share declined slightly (-1.3%) to 698 million in the fourth quarter, in line with analysts' expectations. The title has sold 3.04%, to 38.61 dollars.

The oil company Chevron (-1.68%, to $ 72) on Friday issued a 2009 annual profit fall of 56.2% to 10.483 billion dollars, due to falling prices and pressure on margins .

Furthermore, the group of French telecommunications and media company Vivendi sued by shareholders ruined by its near-collapse in 2002, was convicted of misleading communication. Its CEO at the time, Jean-Marie Messier, has instead been milled.

The Californian partner Renault in electric cars have passed a nice round. Better Place has in effect said on Monday it has raised 350 million dollars, 247 million euros.

The deal values the company at 1.25 billion dollars. It should enable the company to "grow internationally," according to its CEO Shai Agassi, quoted in a news group.

It was underwritten by HSBC, Morgan Stanley Investment Management and Lazard Asset Management, and must be closed during the first quarter. In its statement, Better Place is pleased to be among the major investment of its kind conducted by HSBC Business Card Design . Having spent 125 million dollars, nearly 90 million euros, HSBC is the largest investor in this transaction.The bank will take 10% stake Better Place, and put Kevin Adeson, head of global financial transactions, within the executive committee of Better Place.

Better Place will install networks of charging infrastructure for electric vehicles. Through its partnership with Renault, Better Place aims to commercialize a nombvre minimum of 100,000 cars in Israel and Denmark by 2016.

At the risk of scaring a few more customers of the French ports, the CGT chose continuity in strategy from one year to the next … After a one-day strike on 6 November and a strike overtime from that date, the association of ports and docks union's relaunch its action against the port reform, passed in Parliament July 4, 2008. The CGT called employees of large seaports, where it has a majority, with two strikes of 24 hours this Monday and next Monday. This should lead to a new terminal block of the seven major French ports.

"The answers we received were not likely to reassure all ports, the federation called to amplify the movement," says the union, whose representatives have met with Transport Minister Dominique Bussereau ago weeks.

For the CGT, the "Recovery Plan ports" of the government aimed to "privatize the autonomous ports. "Where are the development projects of traffic? Where are the 30 000 jobs that were created? "Asks the union. For the latter, the only concrete project since the passage of the reform, the LNG terminal Verdon Bordeaux, has been barred by the government.

Business bloodless

More importantly, the union opposes the measure lighthouse, the transfer of cargo handling activities (cranes and personal) of major ports to private companies, for which the procedure is being per-port basis.Given the crisis that has severely affected the sea traffic, the time would be particularly ill-chosen, the union argues: "The operators and major arms, which are the major claimants of this reform are now dying and unable to lead the transfer of tools and secondment of personnel. "

In Marseille, one of seven ports affected by the reform, Pascal Galeota, general secretary of the CGT major seaport, boasts a "moratorium to reinforce the activity, while the government seems determined to keep on schedule to be in order walk as the recovery will occur.

But the CGT leader Marseille insists: "We feel that nobody knows where we go." Reform is much more complicated to implement due to poor economic conditions, "said union leader, who refuses" transfer deficit bloodless enterprise. The question is whether these blocks are the best way to help businesses affected through this difficult period …

ALSO READ

The Port of Marseille tries to complete its reform

After several weeks of reflection, the verdict has finally fallen on the new method of fixing gas prices. The Ministry of Economy, which was to maneuver, just send the document to refer to the Regulatory Commission of Energy (CRE), for entry under the next year, after the publication of a decree .

The government, which ruled until then every three months on possible changes in gas prices, trying to remove a little of the game, at least in appearance. It will no longer once per year, one component of overall framing of the price curve of the molecule. This scheme seeks to prevent the State to meet in full psychodrama whenever Bercy opts for a rise in gas prices.

So now the company, GDF Suez, which will seize the regulator for a rate increase.Which regulator, after watching whether the incumbent's request is consistent with the pricing formula, make a binding opinion. Until now, the opinion of the CRE in the record setting gas prices was only advisory. In the new scheme, the Commission will therefore pose a greater weight.

However, uncertainties remain. In particular, what happens if gas prices are indexed on oil prices should fall? In the reference document, it is not called GDF Suez to decide in what direction. Similarly, it does not ask the regulator to pressure the company to obtain a reduction in charges.

"Let's just common sense: since oil prices are public, they bend permanently, GDF Suez will be forced to seek lower fares.Or the group will draw the wrath of both consumers and government, "says an industry expert.

Psychodrama

So much for the new scheme, at least in theory, developed by the government with the approval of other partners, beginning with GDF Suez. It remains now to see how it will apply in practice. It is hard, in fact, the government remain inactive in the face several repeated hikes in gas prices. Especially during elections, where the energy bill is regularly found in the heart of debates.

In short, despite government efforts, it is feared that this new device does not put an end to psychodramas on gas prices.

The priority project to reform the finance chair of Obama might derail in Congress. Supposed to address the causes of the banking crisis that has triggered a global recession, this reform presented in June by Treasury Secretary Tim Geithner, was nevertheless well on in the House of Representatives. In the Senate, however, as in the case of health reform, things get complicated.

The chairman of the Banking Committee of the Upper House, Democrat Christopher Dodd has introduced a very different text of the draft Administration and Obama much more radical. His project, no Republicans rally seems further divide the Democrats the majority. The objective of Barack Obama to enact a law by Christmas is compromised because the vast open debate by Chris Dodd could drag on for months.The Senate and House of Representatives, each on its own agenda, must agree on a common text.

Dodd, Senator from Connecticut, neighboring state of New York resident and where many Wall Street professionals, wants to give the dish any system of regulation of American finance. His most controversial proposal is to remove the Federal Reserve full competence in supervising banks. The Fed does not deal more than monetary policy, what Barack Obama wants to avoid. Dodd calls for consolidation into a new super agency to monitor banks, functions now split between four agencies.

Two points of agreement

The senator vowed Tuesday that he did not seek in any way to "punish the Fed, even if it was a" complete failure "in its mission of regulating banks.Chris Dodd also said he was not attacking "individuals or personalities, but the system architecture. A precision is useful when Ben Bernanke, the Fed governor, will testify before Congress at the end of the month for renewal of its mandate.

The blueprint also provides for federal regulation of insurance companies. So far these are the U.S. states regulate insurers. For prevention of systemic risks, he proposed a new agency specializing in surveillance of the largest banks. It would, in retrospect, these establishments to fund the eventual rescue of one of them.But to better ensure that the taxpayer is requested, the rival project of the House, instead stating that a fund maintained by these banks too big to fail accumulates in advance the resources needed for a rescue.

Two points of agreement exist however between the Obama Administration and the powerful senator. The first is the creation of a new agency that specializes in the regulation of financial products distributed to the general public, such as mortgages or credit cards. A proposal was however rejected by the Republican camp. In addition, Chris Dodd accepts the principles of management salaries and bonuses for bankers posed by the White House. It is forcing banks to greater transparency and allow shareholders to vote on remuneration issues.

But the boards would retain the discretion to overrule.However regulators may prohibit any compensation deemed "excessive." Finally the most senior officials of banks would be forced to surrender their salaries awarded in the event of subsequent review of company performance.

Christopher Dodd, a key player "Ron Paul, the Republican who calls for an audit of the Fed's" The insoluble problem of the size of banks

They are presented as "the cornerstone of the company, but feel" left out "after having invested limitless. A paradox highlighted by the study conducted by consulting firm HR Solutions Alter Ego, and Françoise Toulemonde, marketing consultant and prospective studies (1). "Isolated," "disoriented," in full midlife crisis "… The survey paints a finding black … More specifically, it reveals that the professional motivation of this population are similar to those of the famous generation Y, characterized by individualism and infidelity to the company.

For Quadras, succeed at work is above all a personal project: "always learning" for 45% of them reconcile their pro-life to 39%. In contrast, only 12% believe that success is linked to having significant responsibilities.

If the quadrants have high expectations of HR, over 80% believe that evolution will not pass through internal mobility, but from somewhere else.

For the firm Alter Ego Solutions, "companies have an interest in reconsidering these quadrants, if they do not want to see in smoke from their expertise or simply face an acute risk of demotivation.

The conclusions to be drawn? Companies should treat this "quiet generation", which is showing "signs of impatience."

The study concludes with Generation Y, concluding that this "puzzle recruiters" may be basically a "shell" and that individualism is perhaps generations. A revelation …

(1) Survey conducted between April 23 and 14 mail in 2009, among 1200 men aged executives.