Wednesday, January 6th, 2010
In 2009, France "has avoided the worst," said President Nicolas Sarkozy during the presentation of his wishes to the economic forces at Cholet, on Wednesday. The Head of State recalled that "a year ago, we were among the worst crisis since the 30s.
If "we have avoided the worst, because we made the right decisions despite the controversy," he claimed. "For six months, growth has returned."
These decisions were taken because "I believe in volunteerism, has hammered the head of state. We must "regulate capitalism to create the right conditions for our prosperity," he said, praising "dialogue and reconciliation."
"No French has seen its savings challenged. No financial institution has gone bankrupt, "he said. "I made a commitment: that the support plan for banks will not cost anything to the French."Better still, the plan "has reported 2 billion euros to the French government by interest" donated by the aided institutions.
Nicolas Sarkozy also attacked the "Malthusian" raging in France, "idea that we could reduce unemployment by sharing work", a reference to 35 hours. He also taunted "the illusion that the decline would be the only solution to preserve the environment."
More to come …
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Tuesday, December 8th, 2009
The risk of a strike by truckers threaten to block the deposition of large retailers from next Sunday is taken very seriously by governments.
Moments after receiving the Department of Transportation delegated Inter (CFDT, CGT, CFE-CGC and CTFC) of 500 000 employees, the Secretary of State for Transport, Dominique Bussereau, has appointed a mediator, not as planned but three.
Members of the firm Mensia Council Martial Belon, Hervé Nadal Muir and Eric have the difficult task of finding common ground – including on wages – between truckers and their companies.
Unions want the transition to a wage of 10 euros gross per hour for the highest coefficients, 4% increase for executives and 4% more for travel or 13th month for free.Claims deemed unacceptable by the companies badly affected by the slowing economy.
Dominique Bussereau is optimistic. A schedule is considered. "I think some points of view can be reconciled, he said. We hope to reach a first agreement of good will to avoid blocking of deposits, then in a second stage, discussions will be conducted on other points from the start. We promise. "
Dating successive
At work since Monday evening, the facilitators meet successively unions and employer organizations.Wednesday morning, they will provide their preliminary findings at a meeting bringing together the two sides to the ministry, just before the Cabinet tomorrow.
The discussions will continue until agreement is reached, but the secretary general of the CFDT, Maxime Dumont, believes a quick solution. "The situation seems more committed than in the previous conflict two years ago, says he. The government invests. I think some employers' organizations have proposals to make to break the impasse. "
On the employee side, there is, however, still doubtful. "We are conducting a fight but in fact they are the companies that benefit from the advantages offered by the government," said Frédéric Bérard (CFE-CGC). FO-Secretary-General Transport, Gerard Martinez is also on the reserve."How do we get in two days that we could not have in a year and a half?" He questioned Monday before resuming discussions with the mediators.
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Friday, November 27th, 2009
With just over 26,900 new homes sold, the third quarter of 2009 should give a little smile on their promoters. The new home sales have indeed increased by 65.2% compared to the end of 2008 days for the sector. In one year, the average time for disposal of real property increased from 18 months to 8 months for the group and 18 months over 10 months for houses. In the second quarter, sales were already up 29.6% over one year after a decline of 5% in the first quarter.
However the number of starts of new homes continued to decline by 18.1% over the period August-October over the same period of 2008, the ministry said. The number of building permits granted for new housing also appears to decrease (-17.2%) over the period from August to October over the same period of 2008. Over the period from May to July, the decline was 29.6% a year.
Price later, a new home sells on average 241,900 euros, a figure lower than 4.4% in the third quarter 2008. The decline affects all sizes of homes – excluding houses fewer than four parts whose price is higher than the third quarter 2008 (+2.4%). For new apartments, the average price per square meter record in the third quarter of 2009 reached 3382 euro, less than 1.2% from the third quarter 2008 (EUR 3 423).
"The sales increase is a good sign"
Nevertheless, the Secretary of State for Housing Benoist Appearing sees soaring sales in a year "a good sign." "The demand increases, buyers found a solvent and the sites will be able to restart," he told AFP.However, although sales picked up, the number of new homes sold by developers in the third quarter was down 9.6% on year to 19,300. According to the FPC, the government measures that have stimulated investment rental must be extended to allow real sector recovery. "The doubling of interest-free loan for six months will only exacerbate the imbalance between investment and rental assumption, sorry Marc Pigeon, president of the Federation of Property Developers.
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Friday, November 27th, 2009
The distribution sector, which has particularly suffered from the crisis last fall, seems increasingly difficult to find its place within the PPR Group. In an interview with the Wall Street Journal, François-Henri Pinault has reported a "bold plan to sell its European distribution subsidiaries, including the very popular Fnac and Conforama," details the economic daily. "The sooner the better," said the businessman, saying "wish to transform the group into something more homogeneous. "We have a great weakness distribution. This is not an area that can be easily developed abroad, and says the son of François Pinault.Following this publication, in the group attempts to relativize statements François Pinault: "In the short term, there is no process of transfer of those signs that is committed," says a spokesman for the group.
François Pinault jamaisn had been explicit about the fate of brands Conforama and Fnac. In an interview with Echos November 17 last, he said "I remain committed to our balance between consumer and luxury."He added: "When I became the CEO in 2005, I continued this development momentum by choosing to turn the group into global brands of equipment from the person, less dependent on their domestic market as is not the general public distribution. "
Twenty buyers would have already manifested
With the possible assignments of the Fnac and Conforama the band broke up nearly 40% of its turnover. In 2008, Fnac has indeed represented nearly 23% of group sales and Conforma just under 16%. Suffice to say that the sale of its two brands would change even further aspect of the group after the sale of spring 2006, the sale of YSL Beaute in 2008 and the flotation of a majority stake of CFAO. Meanwhile, the group has seized control of Puma in 2007.
More than focusing on the luxury sector, this change is also akin to a risky bet. Distribution activities have benefited the group in recent years to counterbalance the luxury business, which remains volatile.
Twenty buyers would have already shown in a takeover, although the head of PPR does not the IPO, as was the case for CFAO. The sale, if it occurs, should earn $ 5.9 billion (about 4 billion euros), enough to increase thereafter in the world of luxury accessories. A dozen companies are already targeted.
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