Sundial of world news

At the close, the Nikkei 225 index of blue chips lost 143.61 points to 9925.92 points, passing below the 10,000 points that he had passed last week for the first time in two months. The broader Topix index of all titles of the first table dropped 12.97 points (1.49%) to 857.19 points. The activity was quite low, with 1.83 billion shares traded on the market first.

"We must be on alert about debt problems in Europe, even more than before," said Yutaka Yoshii, fund manager at Mito Securities, quoted by Dow Jones Newswires.

European stock markets fell Monday, weighed down by the mistrust of the market vis-à-vis Italian and Spanish bonds have reached record levels, respectively more than 5% and 6%.After eight and a half hour crisis meeting in Brussels, the finance ministers of the euro area published in the late afternoon a statement intended to reassure markets about the soundness of financial support measures to the most indebted countries.

But the euro has remained on the defensive Tuesday in Asia, quoting 1.3961 dollars Tuesday shortly before 8 o'clock, against 1.4029 dollars on Monday in 23 hours. He also declined vis-à-vis the yen at 111.90 yen against 112.61 yen.

This weakness of the single European currency is bad news for Japanese groups engaged in Europe, because it reduces the value of their income from the Old World when converted into yen. The shares of Japanese exporters groups have therefore lost ground.

Here are the planned changes on 1 July 2011.

• Retirement

The law on pension reform, enacted November 10, 2010 after a long parliamentary battle will come into effect on Friday. The legal age will gradually increase from 60 to 62, with four more months per year. The first people affected are those born after 1 July 1951.The age of the full rate – that is to say that from which an employee receives a full pension even though he has not contributed enough quarter (165 quarters forward) – is raised gradually from 65 to 67 between 2016 to 2023.

By persons possessing a degree of permanent disability of at least 20% and, after notice of a multidisciplinary committee, those possessing a degree of permanent disability between 10 and 20% are still able to go to 60 years.

• SMIC

The minimum wage was last adjusted on 1 January will not be automatically upgraded in July. The rise in prices which reached 2% since last revaluation of the minimum wage – could lead to an increase in August the minimum wage indexed to inflation.Prime Minister François Fillon has also been clarified that no additional boost would be granted.

• Unemployment benefits

Unemployment benefits will be revalued by 1.5% from 1 July, decided Thursday Unédic or at a rate lower price developments and the minimum wage increase of 1.6% occurred at the beginning of years. "The debate was very long to the Board of UNEDIC" consisting of representatives of employers and employee organizations, which manage all unemployment insurance, said the president of UNEDIC, Gaby Bonnand at a press conference.

• Transport

– SNCF: the prices of train tickets will increase by an average of 2.5%. This increase will, as every year, uneven tickets. It will range from 10 cents to 2.70 euros by destination.The price discount cards remains unchanged.

– RATP Navigo Pass packages will increase by 2.7%, except for Zone 5. Zone 6 is removed and merged with the 5, which will mechanically decrease by 11% the price paid by its users, reduced from 123.60 to 109.90 euros for a monthly fee. In detail: the monthly zone 1 and 2 increased from 60.40 euros to 62 euros (+2.6%). That of zones 1 to 3 passes to 80.30 euros (+2.7%), and that of zones 1 to 4 to 98.10 euros (+2.7%). The single ticket remains unchanged at 1.70 euro.

The bus fare increases to 1.90 euro (+5.5%), while the book of 10 tickets will increase to 12.5 euros (+4.2%).

• Energy

– Electricity: Household bill increases of 2.9%.The industries and large companies take 4.4 to 4.9% according to the rate at which they are submitted.

– Gas: gas rates for individuals do not change, but those businesses increased by 3.2%.

• E

La Poste has announced that the price of postage for mailings of letters under 20 grams would rise by two cents, from 0.58 to 0.60 cents.

• Mobile Phone

The price of mobile communications passed from another European country down. It will now cost 42 cents per minute against 47 before. Subscribers operators in metropolitan departments and overseas subscribers Dom operators in mainland France also benefit from lower rates.

• Environment

A thousand everyday products will be subject to an experimental display decided at the Grenelle Environment Forum.Packaging will be accompanied by a statement indicating their carbon footprint and their impact on biodiversity, water, etc..

• Bank

A summary of bank charges (basket of services, payment systems, operational occurrences, agios) will now be on the monthly bank statements, which also display the ceiling of the overdraft.

• Pets

The electronic chip designed to identify the pet becomes mandatory for all animals that will travel outside French territory.

(With agencies)

ALSO READ: "The mad story of the pension reform

"Travel sncf.com widening the gap with the teller station

»Post launches two-tier e

The director of Medicare does not hide its intention, revealing new figures on excess fees, weigh on the negotiations with private doctors, which should lead to early summer. "The system just drift since its inception 30 years ago, Frederick van Roekeghem regrets. We want to sound the alarm on the need to implement structural reforms. "

Overruns (these are requested beyond the "tariff Safely" legally by doctors of "Sector 2 but poorly repaid by certain complementary health) accounted last year for 2.5 billion euros, on a total of 20.9 billion euros in fees. A proportion is similar in style singled out by the Inspectorate of Social Affairs in 2004, which argued that while a "significant increase" during the previous decade.But behind this "apparent stability", says Fred van Roekeghem lies a greater concentration.

In 1990, 16% of physicians "family" could charge excess fees. Since then, the degree requirements were introduced which prevent virtually any plant of the generalist sector 2, and only 7% of workforce is concerned. The proportion of specialists in Area 2, with her stable for the past twenty years (41% in 2010). But if she fell for clinical specialties (pediatricians, dermatologists, gastroenterologists between 32% and 40%), it flies in the operating room: 34% against 28% for anesthesiologists, 85% against 73% for surgeons.And in all these areas, the sector will expand in the next two years as junior doctors settle overwhelmingly.

Physicians increasingly "greedy"

In addition, doctors applying overruns are becoming more "gourmet" on the amounts required: 54% of the "Safely rate, on average, against 25% in 1990. Note that Medicare confirms the intuition of the French Mutuality: 4.5% of public hospital doctors allowed to perform – for 20% of their working time to the maximum – a professional activity in area 2 practice overruns higher than their liberal counterparts "pure." Supplements such resources reach 81% in surgery, against 56% in the private sector, 80% against 48% in ENT, ophthalmology, or 96%, 60% cons.

Overtaking both more frequent and higher are concentrated in certain areas – with high purchasing power – like Paris and West of the Ile-de-France, Rhône, Alsace and the Coast d'Azur.

A problem of access to care

Nevertheless. "The phenomenon empire, says Frederick van Roekeghem. It poses a problem of access to care. " The boss of Medicare does not refute the argument of doctors (surgeons in particular): they are using the overruns is that the social security system pays too little certain acts, given their cost, their difficulty, duration, or the risk that affects the amount of insurance premiums. It's good to help doctors make more money without costing too much to Medicare that the sector 2 was created in 1980 by Raymond Barre.And it's not a coincidence that the least among specialists in Sector 2 are installed cardiologists (20%) and radiologists (13%), considered very good living by simply make rates Safely.

Frederick van Roekeghem says ready to act on the question to finally allow the entry into force of the solution advocated since 2004: the "optional sector. This would be for anesthesiologists, surgeons and obstetricians Area 2 volunteers to achieve at least 30% of their actions and costs Safely, do not charge for overruns over 50% on the rest of their activity, complementary health s 'committing their part to repay the money. "This discussion will reopen. I think it's the last time, "warns the director of Medicare.

ALSO READ:

A project to limit excess fees

After the death of Osama bin Laden, U.S. markets have opened higher on Monday. But the optimism did not last. After booting up 0.48% at 12,872 points, the Dow Jones has returned to equilibrium about 18.30 (-0.02% to 12,839 points), the Standard & Poor's 500 and Nasdaq 100 lost respectively 0, 13% to 1362 points and 0.31% to 2865 points.

The NYSE had ended up slightly vendredi.Sur the entire last week, the Dow Jones gained 2.43%, sailing now at its highest level since May 2008. The Standard & Poor's has made 1.96%, climbing to a new level since June 2008, and the Nasdaq experiencing the highest since December 2000, after rising 1.89% on the week. U.S. indices have been propelled by the quarterly results of companies.Indeed 73% of companies have released better than expected results for the first three months of the year.

On all major exchanges in Asia and Europe, the reaction was positive on Monday after announcing the death of bin Laden. But the effect was short-lived.

Dollar up, oil down

And on the foreign exchange market, the dollar climbed against major currencies. Around 15:30 European currency resumed, however the height against the greenback.: The euro bought 1.4849 dollars against 1.4808 dollars on Friday night. The death of public enemy number one U.S. pushes investors to buy the greenback, especially low in recent weeks because of the decision of the U.S. central bank (Fed) maintain unchanged its policy of very low rates.

Similarly, oil prices, affected by the surge in the greenback, declined Monday.A barrel of light sweet crude for June delivery lost 57 cents to U.S. $ 113.236. Precious metals lose ground again this afternoon, even if less than this morning. The ounce of gold fell to 1546 dollars this morning against a previous record of 1575.79 dollars. It is from 1555 dollars to 15.30.

On the macroeconomic front, construction spending gained momentum in the United States, knowing their strongest growth in 11 months, 1.4%, according to data released Monday by the Commerce Department. In contrast, growth of manufacturing activity slowed for the second consecutive month in April, but less than expected, according to the index of industrial purchasing managers released Monday. This index, calculated by the Institute for Supply Management (ISM), stood at 60.4 in April after already slowed to 61 instant payday loan.2 in March, against 61.4 in February.The 72 analysts and economists surveyed by Reuters had forecast an index to 60.0.

Macroeconomic agenda of the rest of the week is particularly busy overseas. The program included investors such as U.S. industrial orders (Tuesday), the PMI service on both sides of the Atlantic (Wednesday), quarterly productivity in the U.S. (Thursday). But the main highlight of the week on the macroeconomic level in the United States is expected Friday with the traditional monthly report on U.S. employment.

Apple on their toes

The side of values, PPR announced on Monday the launch of a friendly takeover of the American Volcom (23.92% to 24.45 dollars) (clothing and accessories for skateboarding), enhanced 516, 1 million euros, which, according to him, "a milestone" for the constitution of his pole "Sports and Lifestyle."The essence of sport and lifestyle center is formed by Puma, majority owned by PPR, which was completed in 2010 a turnover of 2.7 billion euros (+10.6%) and operating profit to 337.8 million euros, up 12.7%.

Always on the side of values, Apple (-0.36% to 348.88 dollars) might react to the announcement of Time which will offer a free edition of its magazine for iPad his paper subscribers, according to the Wall Street Journal.

On its side the oil giant Chevron (-0.70% to 108.67 dollars) has also announced after the close of Wall Street have made a profit in the first quarter of $ 6.2 billion against 4.6 billion a year past. Daily production rose to 2.76 million barrels per day against 2.78 million last year.Chevron also announced the construction of a new manufacturing lubricants in Mississippi to $ 1.4 billion.

For his part, Du Pont De Nemours (-0.25% to 56.65 dollars) has increased the amount of its bid for Danisco to 700 Danish kroner kroner against 665 previously.

Also note, the Wall Street Journal, Facebook's growth is higher than the forecasts made several months ago, the group is about to exceed two billion dollars of gross operating profit (EBITDA) in 2011. Still according to the Wall Street Journal, the benefits of Facebook now increase rapidly enough to justify a valuation of $ 100 billion or more from the perspective of an IPO. Facebook should be placed on the market by early next year.

To maintain its objective of reducing the public deficit to 4.6% of GDP in 2012, the government may have to announce in September 6-10000000000 additional efforts in the form of spending cuts, reduced tax loopholes or tax increases. This is the opinion of the Senate Finance Committee. Its members consider overly optimistic growth scenario of the stability program.

In this document, which will be sent to Brussels after a review in the Senate on Wednesday and the Assembly Monday, the government expects GDP growth of 2% in 2011 from 2.25% in 2012 and 2.5 % thereafter. "We prefer to anticipate growth of 2%, which corresponds to the potential of the French economy," noted Philippe Marini, the UMP rapporteur of the commission payday loans.Indeed, the commission table even on a GDP increase of 1.75% in 2011.

"The government does not provide enough specific measures to ensure that there will be savings on public spending," added Philippe Marini. The increase in expenditure is to rise from 2.4% per year on average to 0.6%. "And that starts badly, for in 2011, operating expenses and state intervention will not decline as expected," says Jean Arthuis, the centrist president of the commission.

Friday on its website, the group Indochina stated in a brief statement: "Despite our numerous reminders, the Eating the Heart did not seem to want to accept the gift of our copyright / composer of the title 3rd Sex present in the album In the Eye of the Enfoirés. The latest installment of the troupe takes effect in two songs of the group, I asked the moon and 3rd Sex.

Nicola Dominique (ex Indochina) and Nicola Sirkis (singer / songwriter current group), assigns the third title Sex, logically had hoped that the revenue generated by exploitation of their titles are completely transferred to Eating the Heart.

Despite several phone calls and e-mails from the group and their label Sony, Eating the Heart never responded to this proposal.The two artists have decided to donate their full entitlements Secours Populaire.

"We find it curious"

The group is now wondering why Restless seem unwilling to accept their donation. "We find it curious. I hope that authors and composers of other songs sung by Enfoirés so do we and pour their rights, "says Nicola Sirkis at Figaro.fr.

The state since their inception Enfoirés donate all the money collected by record sales.But it should be noted that revenues are generated by distributing these songs on television or radio, and SACEM and SDRM, organizations distributions of copyright and reproduction of records, revertants also rights to authors and composers in the number of discs produced.

In the case of Indochina and Enfoirés SACEM will therefore have to distinguish the rights generated by the third song recorded by Gender and Indochina Enfoirés his version of how to distribute income.

Indochina will soon publish on its website the notarial deed certifying the repayment of these rights.EMI Publising, the publisher of the title did not always about him appeared.

Warned not to tracks for recording and 3rd-Sex

We are not asking the moon, the single from last album Enfoirés resumed I asked the moon in Indochina, is a song written by Michael Furnon group Mickey 3D, edited by Louise Attack Editions. Indochina therefore does not receive any rights to this title which, according to our calculations, could generate nearly 250,000 euros of copyright in the version Enfoirés.

Michael Nicola Sirkis Furnon warned of the psychosocial adjustment of this song for the Enfoires. However, no request was made to the group to obtain the right to record the third sex, which are compulsory.

"The third version of Sex by Enfoirés (3, 45 min.)

Achieved. Shaken by the deteriorating situation in Japan's nuclear, the CAC 40 was able to reconnect with the 4000 points in mid-session, after finishing on Tuesday a net decrease of 1.54%, below the psychological threshold. On Wednesday traders try so successful ascent, in the footsteps of Asian markets. The CAC 40 advanced 0.79% to 4,008.04 shortly after midday.

Same trend in London and Frankfurt. After opening in the green, clinching the two exchanges respectively 0.97% and 0.85% in mid-day.

Markets react without panic to the new aftershock of magnitude 5.8 that struck today north-eastern Japan and shook buildings in Tokyo. In addition, they host without the excessive pessimism downward revision of economic forecasts of the archipelago by the government.In a report, it says that the earthquake, tsunami and the nuclear disaster that struck the country will impact on a "temporary" consumption and consumer confidence, exports, industrial production and employment. The triple disaster, whose total cost amounts to about $ 300 billion, will require a supplementary budget of 4000 billion yen (33 billion). "The economy, which was improving, experiencing a phase of weakness, because of the consequences of the great earthquake northeast of Japan," says the government.

Gust Statistics

In this context, progress is therefore no euphoria. Especially since many key indicators are expected to analyze both sides of the Atlantic.In France, consumer prices rose 0.8% in France in March from the previous month and one-year inflation accelerated to 2%, show statistics released Wednesday by the INSEE.

In the euro zone industrial production rose 0.4% in February compared to January, when it grew by 0.2%, according to data released Wednesday by the EU statistics office Eurostat.

In the U.S., retail sales and March business inventories for February will be at the rendezvous, like the weekly oil inventories. The Fed's Beige Book will also be particularly scrutinized for 20 hours across the Atlantic.

Side of the oil markets, time is decreasing. Concerned by the level of demand, investors pull down prices.Shortly after noon, a barrel of light sweet crude for May delivery, accounts for 0.29% 106 $ 56.

On the currency markets, the euro rises against the dollar and reappears slightly above $ 1.45.

Total in the viewfinder of S & P

As for values, Alcatel-Lucent (6.16% to 3.997 euros) recorded the largest increase in the CAC 40 to Accor (2.30% to 30.875 euros). Alcatel is supported by an increase of recommendation from Morgan Stanley to overweight value, weighting cons before guaranteed payday loans.

Schneider Electric: + 0.09% to EUR 113

The group has denied this morning to be "currently" in discussions with Tyco International today.The Daily Telegraph announced Tuesday that Schneider Electric had sent a letter in which he showed his interest in an offer of $ 30 billion on Tyco International, from the perspective of giving birth to the world's leading security systems.

Areva: -0.10% to 30.89 euros

The nuclear expert said Wednesday it has won a contract for the installation of a solar thermal concentrator coupled to the coal-fired Kogan Creek, operated by CS Energy in Australia.

Total: + 0.75% to 42.255 euros

Standard and Poor's lowered the long-term credit rating of the oil group to "AA-" cons "AA" previously, with stable outlook.

Casino: -0.80% to 69.76 euros

The group confirmed on Tuesday after its goals have increased sales by 18.8% in first quarter 2011 due to changes in the portfolio in Brazil and Thailand as well as confirmation of the reorganization of Leader Price.

Credit Agricole + 0.26% to 11.73 euros

The bank president, Jean-Marie Sander, said he was confident the group's business in Japan, noting that the country's economy and its banking system remained strong despite the disaster of 11 March.The chairman of the management company of the bank's assets in Japan, Christian Romeyer said his side that the Japanese savings does not seem dramatically affected by the crisis.

Renault: + 1.52% to 38.32 euros

CEO Carlos Ghosn would not "abandon ship" when the false espionage scandal has unsettled the French group, which must now focus on implementing its strategic plan, said in an interview with Les Echos on Wednesday.

JCDecaux: + 0.26% to 23.01 euros

A group of shareholders of Affichage Holding, Geneva company 30% owned by French group, said the board of directors to court for 150 million Swiss francs (115.6 million euros) after an acquisition in Greece resulted in significant losses.

Vinci: + 1.30% to 43.35 euros

Under the contract LGV Bordeaux Tour, the group selected in March 2010 to build and operate this path, calling for several weeks an extension to the original contract of 7.2 billion, according to information of Figaro.

After market, Kaufman & Broad will release its first quarter results, Fleury Michon announce its results for the fourth quarter of 2010 and its turnover in the first quarter of 2011. Cegedim and Etam will publish their results for the fourth quarter and Camaïeu will unveil its turnover in the first quarter.

Airbus leads charge. Despite a poor start to the year, with a single command net in the first quarter against 88 for Boeing, Airbus announced the marketing of its new A320 NEO for 2015, a year earlier than originally planned. In a statement, Airbus sees this as a response to the "spectacular home" of his new device, which has earned "more than 300 commitments total [302, note]" since its launch in December 2010. The date of operation for airlines has been moved from spring 2016 to October 2015, said a spokesman told AFP. Investors did not react for the moment at the news.By late morning, the EADS, parent company of Airbus, has stagnated at around 21 euros.

Featuring new reactors, coupled with a new wing device, the A320 project NEO should reduce up to 15% fuel consumption on this family's flagship medium haul. So far the device continues to attract buyers. In early March, ILFC, the world's leading aircraft leasing subsidiary of U.S. insurer AIG, in particular, ordered 75 A320s and 25 A321s NEO NEO expanded model of the A320. At list prices, these units represent some 9.5 billion dollars.Certainly, ILFC has also purchased 33 Boeing B737NG, but it's a safe bet that his orders would have been more balanced if the Chicago group has proposed a competing bid to Airbus.

Soaring oil prices

For now, Boeing is considering a project to repower its B737 aircraft as sold in the world, but does not launch a brand new machine. Airbus, which was a time considered this possibility, had finally rejected, arguing that new technologies to develop the successor to the A320 would not be available until 2025.

But the European manufacturer has found the term too far away, at a time when companies seek to reduce their consumption of kerosene saving account payday loan."Rising oil prices put airlines under pressure in the short term, but also forces them to renew their fleets to long term," had found Louis Welsh, CEO of EADS in mid-March. Reacting to recent columns in our orders, he adds, saying "[have] made the right choice" with the A320 NEO.

Through this announcement, Airbus seems to drive a little over Boeing, which continues to accumulate disappointments. April 5, after the emergency landing, a few days earlier, a 737 with a hole in the cabin, the Civil Aviation Administration (FAA) has asked the operators using these old machines to conduct a battery of safety tests. A total of 175 aircraft will be scrutinized.In a statement from the FAA, Ray LaHood, the Transport Secretary has called the incident "very serious" and added that "further steps" could be decided later.

Setback

Also difficult not to see in this response to "the spectacular home of [her NEO A320]" Airbus will appear as a trustworthy partner. And this, while Boeing expects to launch its long-haul 787 Dreamliner in the summer of 2011 after three years of delay. Immediately after the earthquake in Japan, the manufacturer was concerned about a further delay, fearing that its Japanese suppliers – which produce 35% of the parts – can not deliver on time. But four days later, he assured that the facilities were still intact, and there would be no further delay.

At just over two months the Paris Air Show, the message is in any case clear: Airbus shows himself ready to cross swords.

Nespresso, a subsidiary of Nestlé and its competitors are desperate to defend their respective pods. The Swiss Ethical Coffee Company (ECC), the most virulent opponent of Nespresso, and just get the bailiffs seized by the group of several machines in the famous store on the Champs Elysees. This operation, conducted last March 10, also held at the headquarters of Nespresso in Paris at the premises of Magimix at Vincennes, and the headquarters and in local group Seb.

Jean-Paul Gaillard, founder of ECC had preemptively filed patents at the launch of his company in 2009, should "change its Nespresso machines to prevent the use of ECC pods. He now feels that "some technical solutions adopted recently by the Nestlé group could violate some patents.Hence the entry for infringement.

Nestlé confirms the arrival of bailiffs but scans the charges. "It denies all allegations of patent infringement, annoyed the Director General of Nespresso France, Arnaud Deschamps. It permanently alters our machines, our extraction systems to improve the quality of our products, "he says, which does not mean that these changes are aimed to" block a particular competitor. " According to him, he is simply "that their capsules are not compatible."

Complaints against complaint

This latest episode demonstrates the escalating legal, begun in 2010 by Nestlé. Last year, the group assigned to counterfeit the French Casino, supplied by ECC and the American giant Sara Lee with its pod Gold and Swiss discounter Denner, who sells caps stores.A few days ago, at the request of Nestle, the Paris Tribunal has to take 50 capsules of ECC for "patent infringement of the Nespresso system.

Nestle has already suffered two setbacks. The Commercial Court of Zurich and one in St. Gallen dismissed in February and early March the group's complaints in the case Denner. In the daily newspaper of Fribourg, Liberty, Pascal Hottinger, director of Nespresso Switzerland, announces the filing of an appeal to "continue the defense of its intellectual property."

These words were echoes those made by Richard Girardot, director of Nespresso in the Geneva daily Le Temps payday advance. "We are convinced of our good faith," he explained. We conduct different actions against each of them. We do not have all attacked in the same way or on the same subjects. "

Nestlé still live in the 50s "

Search the protection seems to turn an obsession for Nestlé. Nespresso will face the expiration of several key patents in 2012. The group ensures that despite this pressure, no modification of machinery to block the competition is on the agenda. "The option exists. But currently it is not our position. We are not defensive. Our company is focused on innovation and offensive. That is our primary concern today, well beyond issues of patents, "said Richard Girardot.

But Jean-Paul Gaillard, head of the TTC, do not believe in these promises. Interviewed by Swiss television, he does not mince words with respect to a company he headed from 1989 though 1997. Nespresso he accuses of "espionage" and believes that the group is seeking by every means to "preserve its monopoly.What makes me think that Nestle is still alive in the '50s. "

A market too juicy

Verbal exchanges may still be lively among competitors at the height of their respective ambitions. On the one hand, ECC promises to enter the Swiss market in September 2011. "We sold 50 million pods in 2010 and we are aiming between 700 and 800 million capsules in 2011, including about 400 in France. The rest should be sold in Switzerland and Germany, "says Jean-Paul Gaillard. On the other, Nestle wants to spend $ 215 shopping late 2010 to around 250 in late 2011.

Nespresso is to remain a leader in a market growing at 20% in one year, which represents slightly less than 3% of Nestlé's revenue last year with 3 billion Swiss francs (2.3 billion euros) in turnover business gained.The mission will be difficult: early January, United Coffee, announced his intention to go further than the pods by manufacturing machines identical to his.

ALSO READ:

"Pod: The capsule filling oneself

"The response to Casino and Nespresso Coffee House

The drama of the Central Committee (IAC) of Air France continues. The institution which oversees 7 of 8 committees of institutions (EC) of the airline will have to find € 20.5 million to continue its operations in 2011 after having had need 15 million additional to survive 2010. The report of the representative ad hoc court in Bobigny, called the end of 2010 at the head of CEC gives an overview of a situation of near bankruptcy for several months, however, contradicted by the unions in charge of EAC. According to this document, including Le Figaro has obtained a copy, the institution has escaped bankruptcy in 2010 with Air France and its banks. "It is indisputable that the financing requirements of about 15 million euros have been covered with the help of Air France and three banks," he says so.

The first bailout was not enough, however, since the CEC will again have to find additional funds to avoid bankruptcy in 2011. The report indicates that "it remains necessary to negotiate with the banks of the EAC with a credit line to finance the needs of 2011, estimated between 11.3 and 14.5 million euros", "to amount must be added an estimated $ 6 million necessary for the replenishment of working capital, "so it's a total realizable assets of at least 20.5 million euros that will be reached.

Transfer of part of the heritage

To exit the institution of the rut, the report recommends a voluntary separation plan and the sale of part of the heritage valued at 121 million euros. According to our information, the site of Gassin on the Riviera could be sold quickly."Its ideal location, a few kilometers from Saint-Tropez, should enable us to draw a substantial amount," said a steward of the company fast payday loans. The report also calls for structural reforms and pointed out that subsidies to Air France (42 million euros per year) are "used up to 41%, the balance being used for the operation of the EAC." It is necessary "that the CEC is refocusing on its purpose, concludes the document to officials from Air France on holiday and not paying overhead." For the CEC to continue these activities, her office has requested "a liquidity facility" – ie an overdraft – 10 million euros of trade unions met in session on Thursday night. He lost his application. "It's a terrible muddle," says one shop steward. The grant of the first half has already been swallowed.We are awaiting the completion of workplace elections and the appointment of a new office to start from scratch. "

CCE Air France has been the subject of an audit in 2009 that criticized its management and in particular "purpose personal expenses" of its leaders. He then underwent an investigation by the financial police who was interested in possible wrongdoing. Nothing has been proved. In September, the auditor who wrote a "warning report. Despite this progressive decline in the bankruptcy, unions still deny any situation of insolvency. In a press release issued Thursday, the office of the CEC is pleased to have maintained "a CCE in working order and have laid the foundation for its reconstruction." And conclude that "the CEC has survived the turmoil of 2010 and continues to function."

ALSO READ

"Storm Over Works