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 …

The agenda is filled Francois Hollande. Two weeks after his election to the French Presidency, and one week after taking office, the new head of state will visit on May 23, at an extraordinary meeting of EU leaders to discuss ways to boost growth in Europe without ceasing to fight against public deficits and debt. A date has been announced on Twitter by the President of the European Union, Herman Van Rompuy.

Wednesday, May 23, Will Be the date of our informal dinner of Heads of State or Government. # EUCO

– Herman Van Rompuy (@ euHvR) May 8, 2012

This dinner will prepare the EU summit on 28 and 29 June next, and open the outline of a debate on growth, crediting the message supported by Francois Hollande during his presidential campaign of saying that the austerity alone can not get out the Europe of the crisis. According to European Commission President Jose Manuel Barroso, "many proposals (Commission) are on the table and waiting for the green light from Member States and Parliament. While the return to growth will take time, we could reach a turning point at the end of the year if the right decisions are taken now. "

Growth, yes, but how?

Because the situation is serious in Europe no faxing pay day loans. The Greek political earthquake this weekend shook the whole euro-zone. The spectrum of an output of Athens in the euro area returns and fears of a precedent is being felt. For bankruptcy and return to the drachma could then contaminate Ireland, Portugal, Spain, Italy and France. In Spain, the situation is alarming. And France, the passage of the political right to left removes an ally to Germany. Francois Hollande and his socialist political concern in the midst of crisis.

Europe, which as a whole is obviously to revive its growth, however, is not yet agreement on how to get there. For Francois Hollande, we must create Eurobonds. No question, the German chancellor. French side, advocates strengthening the European investment bank to support major projects. Okay, they reply the Rhine. However, it remains unthinkable for Angela Merkel to touch the Treaty nor the EU fiscal role of the ECB. Negotiations are open.

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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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Lactalis and its milk producers finally bury the hatchet. After several months of tensions, the global dairy products (Lactel, President, Galbani) reached an agreement Monday with representatives of its 14,500 producers, who collect five billion liters of milk. It took the intervention of the Ombudsman for agricultural trade relations as they agree to contracts that govern their trade relations now. Several calls to order the Minister of Agriculture have also been required to bend Lactalis. Among its competitors, including Bongrain or Danone, contracts have already been cordoned off.

The stakes are high. This is to prepare the end of milk quotas by 2015. Contracting business relationships between manufacturers and milk producers has been decided by the law of modernization of agriculture. Until then, these relationships worked on oral agreements, valid from generation to generation, and producers were paid on a monthly basis.

Reorganization of the sector

After several meetings, Lactalis and its producers have agreed on an "operating agreement". The Laval group is pleased to have offered "one of (the contract) most successful of the profession." It mainly offers "free transferability of the contract", the "no-monthly-payment imposed deliveries and settlement of supplies of milk in two monthly installments."

Especially, Lactalis has water in his wine, because the group now recognizes organizations (POs) as partners in the negotiations low fee payday loans. So far, the group wanted Laval to negotiate individually with producers, who feared an unfavorable balance of power.

A decree endorsing the creation of these organizations should be published shortly. OP local and regional associations of POs could coexist. Meanwhile, we must "work structuring" of these future producer organizations, Franck believes Guehennec, coordinator of the producer group Lactalis. "This is what one looks forward," he added.

Producers may elect by April 30 whether to integrate the OP. Still, many discussions always take place at industry level, such as on indicators for each company to fix the price of milk.

The agreement between Lactalis and its producers comes at a time of profound change in the sector, phase concentration, particularly in cooperatives. The number of farms (75,000 in total in France) is expected to decline over the coming years. Experts estimate that between 4,000 and 5,000 farms are disappearing each year as part of alliances, dispositions or retirements. These movements should also allow the emergence of true French champions.

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In computing, employment resists. According to forecasts by the Association for the employment of executives (APEC), the companies in this sector should recruit about 30,000 officers, as much as last year. Figures in line with those reported recently by Digital Syntec, professional organization IT services, software and technology consulting firm which focuses on "stability of recruitment in 2012" with the key more than 3500 new posts of which 80% of hiring managers and 35,000 in total. Despite a slowdown in growth, the sector remains a prime source of jobs for graduates: over half of the recruitments are for beginners or young engineers with less than five years experience.

Certainly, the lack of visibility is not conducive to economic euphoria. Currently, some larger customers put pressure on IT companies to lower prices and many projects are deferred. But at the same time, emerging markets draw activity and create jobs, especially for well-trained engineers. "These new deposits carriers include home automation, security or e-learning," says Philippe Tavernier, president of the Social Committee at Digital Syntec. Projects around mobility and modernization of information systems are also powerful engines of growth.

Impact of "cloud computing"

The "cloud" would be the most promising market. A new El Dorado for the employment of engineers? Régis Granarolo, president of Munci, a professional association of computer scientists, is a downside: "The cloud can probably create employment through the development of shared services, but it leads to losses due to outsourcing and the decrease in specific projects. Ultimately, the balance will be positive if the cloud goes heavily in SMEs and takes place in France and not through outsourced jobs. "

One thing is certain, the Internet continues to generate employment, particularly in start-up or well established web agencies. Ekino, the technology subsidiary of media group Fullsix, wants to recruit thirty engineers in 2012, mostly through job creation, to follow a strong growth poor credit personal loans. Developers 'front office', Java architects, engineers, computer scientists as PHP … that the company will most often seek out specialized schools. "Profiles so they asked are upping the ante on wages, laments Angel Michelozzi HRD Fullsix. Currently, existing courses do not produce enough of Internet developers. "

Consulting in SI, companies are also struggling to find the skills. For Neoxia, an SME with 50 people recruited fifteen engineers per year, these difficulties can be partly explained by a lack of appropriate training. "In general, curricula are five years late, sorry its CEO, Gilles Mergoil. If they can agree with the CAC 40, which are the last to adapt, they do not match the requirements of start-ups more advanced technologically. "

This "shortage", the employers also create themselves by finding all the same profiles of young engineers, rather, from the same schools and talent of communicating. "The skills are the foundation techniques, but the decision will be made on cross-curricular competencies, such as a sense of teamwork, listening skills, adapting to the culture of the company," said Francois Adoue, Director of the trades of the Internet. According to Bruno Fadda, associate director at Robert Half International, "the engineer of the Web, version 2012, must be strong technically but also have the marketing culture to meet clients' communications problems. A rare pattern. "

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Virginia Rometty, the IBM boss, she will be admitted to the very select Augusta National Golf Club, home like every year, in Georgia, the Augusta Masters that lasts jursqu'à Sunday? As official sponsor of the tournament, along with Exxon Mobil and AT & T, the tradition that the leader of IBM obtains de facto membership in the Augusta National Golf Club, and whether it takes the famous green jacket member struck the shield of the tournament during the duration of the Masters.

The golfing institution which has only 300 members, including Bill Gates and Warren Buffett, is facing a serious dilemma, reports Bloomberg news site. Since its founding in 1933, the Club membership is in effect only for men. Therefore, on the occasion of this 76th edition, can break tradition and considered the patron saint of IBM as the equal of her male predecessors or can it take the risk of alienating a sponsor capital? As a sponsor, IBM provides indeed all technology services to the tournament start at the site of the Masters as "Big Blue" has managed since 1996.

True to its reputation discretionary, the tournament director has declined to comment hiding behind its privacy policy. Asked on the eve of the tournament, Billy Payne swept a backhander issues relating to the admission of Virginia Rometty or not personal business card. "As always, all questions about who can be a member and will have been discussed privately among members," he explained simply.  

The prestige of the tournament excludes any scandal

This situation is not new for the Masters in Augusta that regularly faces numerous calls to modernize. Already in 2003 a campaign was conducted by American feminists to denounce the discriminatory admissions policy advocated by management. In response to the controversy, the tournament has waived any sponsorship for two consecutive editions are depriving the passage of lucrative advertising revenue.

Ten years later, the feminist call cover and want to be heard. Martha Burk, who led the unsuccessful campaign to admit a woman in this place of power and privilege, said that appointing a woman to head an official sponsor is an opportunity for Club abandon all sexism against women. An avid golf player and regular, President Barack Obama also said Thursday, speaking through his spokesman, that Augusta National had to admit the boss of IBM for his club.

Virginia Rometty is the first woman to head IBM. Photo credit: Dima Gavrysh / AP

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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Family businesses are then threw in the presidential campaign. The ASMEP-ETI, the union of midsize (250 to 5000 employees) and property, chaired by Yvon Gattaz, this ten proposals to improve their competitiveness. "Our companies need time to create sustainable jobs. As they need time to grow and impose global brands, "says Philippe d'Ornano, vice president of ETI-organizing ASMEP Thursday at the Chamber of Commerce and Industry of Paris the grand prize of business and family heritage. "Therefore it is vital to promote their transmission. This is what allows the covenants Dutreil. Do not touch! "

These covenants have been established to promote the transfer of family businesses. The entrpreneurs plead for them to be "safe havens and improved, by exempting EWB and inheritance tax at 95% – instead of 75% currently – securities held as part of a commitment to conservation." They demand that business leaders can more easily prepare their succession. Specifically, a contractor must be able to transmit his company while remaining at the helm paydayloans.

While bank financing will be scarce, the ASMEP-ETI wants to create a bond market dedicated to midsize. The union also argues for the establishment of a large department of business on the model of Sustainable Development established in 2007. This would be a profound change of working methods of the state since the new department would under the responsibility of industry, SMEs, credit mediation, foreign trade and vocational training. It would exercise supervision over the Deposit, the Strategic Investment Fund (51% subsidiary of the Caisse des Depots), OSEO, the Directorate of Planning (Datar).

In social terms, the union plans to encourage the employment of older workers by exempting pension contributions and unemployment wages of older workers who continue working after reaching the required contribution period. This measure is also advocated by the Federation of German family businesses.

Unicredit closed Tuesday, piteously, the ball of the annual results of European banks. As expected, the first Italian establishment has suffered a massive loss of over € 9 billion. After years of too-rapid expansion, the bank decided to move his record to steel wool, to "have no surprises in the future," according to Director General, Federico Ghizzoni. This momentary dip of Unicredit in the shallows of the European ranking – the institution displays the worst performance of the sector just after Dexia – illustrates the new hierarchy of banks.

2011 will remain above all marked by the sharp inflection, from the summer, the crisis in the euro area. Institutions of the countries attacked – Italy, Spain, Portugal, Ireland and Greece of course – all bear the scars. They charged a double shock: degradation of their national sovereign debt and recession in their economies against the backdrop of austerity. In this grim context, the first two Spanish banks, Santander and BBVA, have their own in the game With their exposure to emerging markets, they show profits down "only" 35% to 5.4 billion and 3 billion euros, despite a national real estate market devastated.

The challenge of regulation

Second great lesson of the banking hierarchy 2011: the resistance of so-called universal institutions, which rely on local networks, possibly spread over several countries, and financing activities and investment. The success of British giant HSBC and Standard Chartered, whose results have respectively increased by 28% and 12% in one year, illustrates this situation. The resilience of the French BNP Paribas, proud of its profit more than 6 billion euros and its three major European networks, is another variation. Conversely, the Swiss UBS and Credit Suisse, highly dependent on performance of their teams of traders and bankers, driving out of this year huge market turmoil. Their profits were down 44% and 62%.

The challenge of regulation

Deutsche Bank is a notable exception: despite its similar profile, the champion Frankfurt has completed a very successful year. Up 86% year on year, the result exceeds 4 billion euros. Market valuations of the front runners as broadly these capabilities beneficiaries. HSBC leads the pack with a value of 122 billion euros, while Santander, BNP Paribas and Deutsche Bank weigh respectively 58, 45 and 36 billion in stock.

If Dexia puts the finishing touch of color to the landscape reshaped by the financial crisis. The little French-Belgian bank, run contrary to common sense for years, has lost 11.6 billion euros in 2011. A disaster that financial regulators do not want to hear. To guard against this, they launched a vast banks race to the recapitalization, which will mobilize the entire sector in 2012.

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