Posts Tagged ‘business financing’

Samsung launches Operation Clean Hands

June 13, 2011 - 10:32 am Comments Off

Time for spring cleaning rang Samsung. Its chairman Lee Kun-hee has thrown the cat among the pigeons by saying that corruption was widespread within the largest conglomerate in the world. "Corruption and fraud were widespread throughout the group," said the founder's son, whose rare public statements fall as oracles on its 277,000 employees.

A formula that troublemaker shock over an empire of $ 173 billion in sales, the world of mobile telephony as shipbuilding. Bribes, kickbacks and favors granted to suppliers are common, said Lee, whose engineers have also built the tallest tower in the world to Dubai. "This is a growing concern for me and I'll do it," warned, threatening, tycoon 69 years.The anger of "chairman" follows the outbreak to light a case of embezzlement within the defense subsidiary of Samsung Techwin, which has prompted its president to resign. It could lead to a general audit of the 64 branches of the group alone is worth 20% of the GDP of South Korea.

Clever cons fire

The projection of Lee confirms it was taken over the group's management. Since the beginning of the year, "Emperor" surprise teams in landing unannounced several times a week at headquarters, in the Gangnam business district, then he used to drive the business in the shadow from his home Business Card Holders. "This statement is to show everyone that he is back at the helm," says Chan-Guk Huh, a professor at Chungnam University.

A clever cons fire as Lee himself was sentenced to three years in jail for embezzlement in 2008.Samsung "buy" policies and top judges through a secret fund, showed the former leader of the group's legal department, Kim Yong-chul, in a scathing book became a bestseller in South Korea. Current practices for the chaebol but become embarrassing at a time when Samsung, the leading electronic global in its turnover has grown into a global brand scrutinized by investors worldwide.

Back to business in 2010 through a presidential pardon course, the most powerful man in Korea hopes to buy a virginity with the deal personally.

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Bertrand Puech: "Hermes is the subject of constant attacks"

May 30, 2011 - 2:20 pm Comments Off

Hermes is Monday night in Paris the first general meeting of shareholders since its entry in October 2010, the capital of LVMH (with 20% today). The heirs, who hold 72% stake, hoping to get the green light in September the Court of Appeal of Paris to their proposed freezing holding a majority of shares, to defend against a raid by Bernard Arnault. Bertrand Puech, president of Émile Hermès family (sole general partner of the listed company Hermes International), a member of the fifth generation of heirs, is against the proliferation of litigation against the project, including those of the Association for the Defence of Minority Shareholders chaired by Colette Neuville.

LE FIGARO. – What will you announce to the general meeting of Hermes on Monday night?

Bertrand Puech.- We will announce, as we know already that 2010 was one of the finest, if not the best year, Hermes has lived for 174 years. The results were extraordinary in an economic context that was not favorable. This allows us to pay a dividend of 1.50 euro increased significantly compared to normal.

LVMH will he represented and he can enjoy his voting rights? Are you afraid of possible obstructions of the meeting?

The shareholders are all invited. LVMH said it would. He always said, if his friendship, in any case his pacifism. I am not chairman of the meeting but things should happen normally, as usual.

What do you think of recent legal actions taken by minority shareholders against the proposed family holding Hermes?

I do not understand.It's very sad and painful for members of a family committed to an ethic of openness and honesty for generations to be scratched before the courts, then we're just defending the values ​​of quality. You should know that Ms. Neuville is a minority shareholder, who owns a single share, which represents only herself. She can not speak for the association which is not approved by the AMF. And it is wrong to fight. If she wanted to play a role in defense of minority, why does she not be interested in the fact that one shareholder said suddenly have 17% of our capital, purchased since 2008 without making it to the markets? I think she has given way to a big bad wolf.

Renault: the State for a change of management

May 23, 2011 - 10:16 pm Comments Off

The state wants to step into the breach created by the false espionage Renault. Governments that hold nearly 15% stake in the carmaker, would like to take advantage of the replacement of number two Patrick Pelata to overhaul the state headquarters of Renault, says Les Echos.

For several weeks, the CEO, Carlos Ghosn has promoted Carlos Tavares, current head of Nissan's operations in the Americas, to replace Patrick Pelata. However, beyond the choice of a particular person, the debate among officers, directors and major shareholders of Renault is on the group's organization and its relations with the state, according to business daily. The Elysee Palace would have more influence on the choice of industrial builder and limit the power of Carlos Ghosn in particular through the recruitment of new blood in the group.

Several tracks

Reform could take several paths.The functions currently occupied by Patrick Pelata could be divided into several posts. Another track, the future heir of Carlos Ghosn could sit on the board and receive a title of CEO. That title would have the double advantage of providing greater autonomy to the number two group in relation to number one, Carlos Ghosn, and also make a successor designated by Carlos Ghosn. But Carlos Ghosn would not consider replacing it before 2014. The question of bringing the future number two immediately to the board of directors does not seem to have the endorsement of the CEO.

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Prudence expected at the Paris Bourse

May 4, 2011 - 1:40 pm Comments Off

Avoid taking unnecessary risks. This should be the credo of investors on Wednesday at the Paris Bourse. The CAC 40, which strengthened yesterday after eight consecutive sessions progresison, has no clear upward or from Wall Street or the Asian markets. In addition, the program of the day is very busy.

In addition to a series of important industry publication, several statistics are on the agenda. In France, there will be counts of the trade balance in March and the PMI services in April. This indicator is also expected across the eurozone, as retail sales in March. United States, employment is under the spotlight. So what awaited the traditional monthly report Friday, the markets will have an overview of the U.S. labor market from Wednesday with the Challenger study on employment, which will be followed by the ADP report.Next came the ISM services and oil stocks weekly.

Oil markets precisely, prices are still trending down in morning trading. A barrel of light sweet crude for June delivery lost 76 cents to 110.29 dollars while that of Brent North Sea also June delivery yielded 69 cents to 121.76 dollars. Brokers are questioning the declining demand in the United States. On the currency markets, the euro fell slightly to 1.4813 dollar.

BNP Paribas beats consensus

Orpea

The group announced Wednesday an increase of 26.7% of its sales in the first quarter of 2011 due to high occupancy of its homes and its clinics. It confirms its target of a 2011 turnover of at least 1.210 billion for the full year (964.2 million in 2010) and "maintaining profitability remains strong."

BNP Paribas

The group reported results well above expectations for the first quarter. Net income was up 14.6% to 2.6 billion euros over the first three months of the year, revenues rose 1.3% while provisions for bad debts fell by over 30% .

Alstom

The specialist in energy infrastructure and transport on Wednesday released results 2010-2011 in sharp decline, especially because of its activities in energy, and confirmed its targets for this fiscal year cours.Sur ended March 31, Alstom recorded a net profit of 462 million euros (-62%), operating income of 1.570 billion (-12%) and a turnover of 20.923 billion (+6%).

Su expected in publications Wednesday égalment are those of Scor, NicOx, Boursorama, CGG Veritas (first quarter results).M6, Iliad and Gecina unveil their turnover in the first quarter. After market, income Cegedim, and Mr Bricologe SeLoger.com are expected.

Vicat

The group announced on Tuesday a jump in sales in the first quarter thanks to a rebound in its business in Europe, helped by particularly mild weather conditions.

NRJ Group

The group announced Tuesday an increase in advertising revenues in France since the beginning of the second quarter, after posting a jump in sales over the first three months this year thanks to its television division.

Hermes Jean Paul Gaultier officially leaves

Valeo

The U.S. investment fund Pardus has criticized the leadership of Valeo's not doing more to address the valuation gap between the automotive supplier and its competitors.

Hermes

The broker said Tuesday the sale of its 45% stake in Jean Paul Gaultier perfume Catalan group Puig. The sale price of securities and loan repayments will generate a book profit of EUR 30 million in 2011, said the saddler.

Europacorp will present its strategic plan while Air Liquide holds its general meeting at 15 o'clock.

To live happy, live perched

March 30, 2011 - 3:20 pm Comments Off

Have a green thumb is not enough. Owning a terrace in town is for many urbanites, a dream has a price. According to a study by Ipsos for the National Union of Entrepreneurs of the landscape, three out of five would be willing to spend more to afford private green space. Remains to be seen how much. A well-enriched with a terrace implies a premium, hard to assess. Beautiful garden and terrace have to be considered as the second living area's largest home after the show, the price of an apartment is calculated based on its inner surface.

"The land can not be accounted for under the Carrez law, gets carried away Vitu Henry Benedict, the founder, twelve years ago, the first agency thematic, Terrace and Garden.Refer a weighting in the estimation of a property with a terrace is unfair … "Some agencies identify three areas: that of the apartment in" square ", that of the terrace, and a third," living ", taking into account some of the terrace. Difficult to navigate.

Exclusive possession

Only a comprehensive evaluation enables real estate professionals to refine their estimates based on a bunch of criteria. A terrace is primarily an outdoor area at above the apartment below. Then, all things considered: environment, vis-à-vis, exposure, accessibility (terrace is worth more than single storey pitched after a spiral staircase). The ratio of area outdoor / indoor is also important.Other criteria, its legal description: mostly as a party town but exclusive enjoyment.

"Everything depends on the use of the terrace," says Peter Bazaille me, notary. Must be able to set up a table and chairs … "How to give a price for this outdoor space? "On a terrace of 10 m2, 2 m2 can be added to calculate the price of an apartment of 70 m2. On a terrace of 20 m2 usable, to be weighed 8 m2 the price of an apartment that would make 100, "he says payday advance. At a recent expertise of an apartment of 80 m2 top floor, with views across Lyon and hanging garden of 50 m2, Pierre Bazaille suggested, however, add to half the size of this urban paradise prices sale."The greening of the place is also part of the estimate of a property, says Henry Benedict Vitu, but it is undeveloped, it is better to give carte blanche to the purchaser." The garden staging, home staging declined would therefore be handled with care.

"Home Green Home"

The owner of a heavenly "home green home" will indeed be delighted to arrange their favorite plants, recommended more often by a landscaper. And guided by the condominium rules that can sometimes prevent some species, such as invasive bamboos. Enhance this green bought at the price of gold is more or less, depending on materials. "The cost per square meter to 250 € in authentic Parisian cobblestones, but at 50 € pebble, note, for example, Pierre Alexandre Risser, renowned landscape.A tray can range from 15 €, plastic, 400 € clay. "In addition to traditional services, he suggested, 200 €, available for" makeovers "decking line. Tips to enlarge the existing smaller spaces. Christophe Courtois and overhung the terrace of a giant mirror, which reflected plants and clouds. From a lead roof bristling with chimneys, Hugh Peuvergne made him a Provencal garden with green oak, cypress, olive Bohemian and wisteria. At the heart of the tenth district, he raises at the end of a terrace of 8 m2, a forest cabin facade. And imagined, on top of a building of the sixteenth Haussmann, a roof terrace of 120 m², with cabin, swing, sandbox and generous dining area. Making sure to leave between the trees, a "track" for Children transferred to a tricycle.

The "hunting land" is open in the capital

March 27, 2011 - 12:04 am Comments Off

In Paris, "a huge chunk of land is common property and land opportunities map does not exist," warns Michael Korsakoff, General Secretary of the Club property developers and land in Ile-de-France (CDIF). If the local development plan (PLU) gives clues to the land of gators, the mutation sites remains difficult to predict. So when a nugget of land is finally identified, "we all meet, as sponsors, on the same projects," says Veronica Guillemin, President of the CDIF. The bidding has become very difficult to measure … "In addition from 3000 € / m2 GFA (Gross Floor Area Net, that is to say actually building), the price of land flies. In a recent vast wastelands of Paris, in the heart of the new district of Batignolles (XVII), the City of Paris ceded the end of 2010 to Cogedim land to 3 800 € / m2 floor area.There are apartments sold off-plan more than 8000 € / m2. Their delivery is expected in 2012, this eco-neighborhood in saving energy. Some buildings will peak at 50 meters, 37 meters beyond the date authorized. The future high court will reach even 200 yards on the ground of a former station. Altitudes deemed inefficient, but that may be authorized by the latest changes in the local plan, currently subject to public inquiry.

In Paris, the property is seeking a future in height. Future but also social. In the eleventh, boulevard de Charonne, 8000 m2 of a former industrial site will give birth to 100 housing units in 2014. Meanwhile, in the thirteenth, a EcoZac flourish on the site of the former goods station at Rungis, which will combine offices, housing and social amenities.In the hunt to land, the BIA (concerted development zones) is cut, it will be understood, the lion's share. Social housing too. Yet in 2001, only the wide range of Paris left bank was a planning area. Teams of the Deputy Mayor of Paris responsible for Housing, Jean-Yves Mano, are on the lookout for the slightest bit. The intervention service division of the Directorate of Planning does not hesitate to preempt. "Provided that motivate the right of first refusal by a social housing project or general interest, it says there. In 2010, 11,831 declarations of intent to dispose (DIA) have been investigated. But only 2736 cases were studied with a magnifying glass, which led to 68 preemptions. "It is far less than in 2009 (93), and especially in 2008, where 146 pre-emptions had been decided …The City Council did, too, the cost of soaring prices, despite an annual budget of preemptions for 100 million euros. In the eighth, the response service to acquire land abandoned building, too expensive.

Paris could catch up by 2014 its backlog in social housing, with six years ahead of schedule. "10% of the space are changing urban Paris, Jean-Yves Mano evaluated. But a hundred other plots may be subject to negotiations, which we could consider 15,000 homes … "The City Council has established in recent years, the list of forty car repair garages … Rue de la Pompe in the sixteenth century, Renault has sold one at Sodearif, a subsidiary of Bouygues. Another avenue Mozart, should follow the same path … Each time, the City negotiates affordable housing, at least half of the program.Private developers and public donors, however, working in concert. Despite political tensions in the sixteenth century, several other sites, blocked for years by the use of residents, should result in parallel, such remedies being depleted easy pay day loans. In the key housing, particularly social services.

Committed to a policy of transfer tax, the state adds its contribution to the transformation of land in Paris. According to Jean-Martin Delorme at the regional and inter accommodation and housing (DRIHL), "in 2009, the state has allocated so that the land can be built 329 homes, including 194 social.In 2010, participation has increased, so that 1302 units are produced, of which 859 social. "In 2011, the state has spent on housing in Paris a bigger budget (100 million) for the regions and Rhone-Paca Alps combined.

Buildings over bus depots

Nothing would do but without the SNCF and RATP Réseau Ferré de France (RFF). Heritage Land SNCF? 156 hectares. That of RATP? 260 hectares. As to RFF, the second landowner in France with 103,000 hectares of land. "The RATP has today more than empty land," assures yet Rémi Feredj, director of space and heritage of the RATP, which helped in the 90s, building programs Montsouris, in the nineteenth, in the seventeenth and twentieth. And yet today, boulevard Jourdan, RATP still collaborates with the City of Paris for 200 housing units and 350 students.The buildings rise above a bus depot. Technical prowess. "Here in the twentieth, opposite our office, we will bury another repository, then build on top of offices, a school and a nursery," said Remi Feredj. RATP therefore maintains depots and workshops in Paris, but imagine a new land, while overlays and juxtapositions. Street Desnouettes (fifteenth arrondissement), 47 units will emerge behind a business unit of the metro line 12. According to a performance contract with the state, RFF is committed to mobilizing its land for 1.2 billion euros over five years between 2008 and 2012. Goal: Create 15,000 units in France. A private operator, Pitch Promotion, for example, already won in late 2010, a site RFF Street Castagnary (fifteenth arrondissement). Other rail sites could still mutate, in the twelfth, eighteenth, and nineteenth arrondissements.In all, "1 million square meters of floor area to fifteen years," we are assured at RFF. Meanwhile, in the nineteenth century, a new station-Gospel Aeolus will come with the added bonus of 27,000 m2 of offices and 1000 m2 of shops.

Meanwhile, to release more land more quickly, experts, to the State, reflect on fiscal measures. They are looking to reverse the plan capital gains and taxing landholders refusing to sell them. Tax on undeveloped land is not very effective. "We could consider increasing the property tax on developable land," suggested Poirot Pascale, president of the National Union of developers developers (Snal). Some suggest a tax on the minimum density.More iconoclastic imagine "to add another floor to Paris buildings, because very sparsely protected," recalls Henry Buzy-Cazaux, honorary president of the Institute of Management of real estate services.

The city of Haussmann has long obeyed an ideal city less dense, difficult to reconcile with the height of land planners in the twenty-first century. "You could also consider a rationalization of action, often abusive, hampering construction projects", he explains. An idea that engages players from all sides of the ruthless world of land development.

Charity credit cards are as lucrative as generous

February 24, 2011 - 5:52 am Comments Off

The year 2010 was marked by a wave of bank cards say charity or solidarity in the portfolios of the French. Last launch date, the European Private Bank (OCA) officially presented in late January its "generous offer" in partnership with the Institut Pasteur. The offer, dubbed Altruis BPE, can automatically trigger donations of 0.50, 1 or 2 per transaction from his bank card, a MasterCard Gold card bearing the image of Louis Pasteur, for any payment of more than 20 euros high risk personal loans. "We offer our customers a simple way to get involved and different, with us in a great cause that affects us all and we are happy to defend," said Etienne-Marie Airiau, Director General of BPE.

The credit card of BPE, the portrait of Louis Pasteur, the latest arrival on the card market charities.

Latecoere press EADS to buy it

February 22, 2011 - 11:20 am Comments Off

Latécoère takes matters into his hands. The aerospace supplier in financial trouble trying to convince the group of aerospace and defense company EADS to buy. Chairman of the Supervisory Board, Pierre Gadonneix, is expected to announce within a month "the buyer or at least an industrial solution" to relieve the group that collapses under a debt of more than 300 million, reports La Tribune.

For now, EADS does not seem interested in reconciliation as such with his counterpart. EADS would however be "ready to contribute to an industrial solution, which would maintain a die aerostructures in France," reports La Tribune. The group of defense and aviation would be able to "merge much (its subsidiary) Aerolia with Latécoère and hold (in a first time only) a stake in this together paperless payday loans."

EADS and multiplies conditions.The group says it will accept this approximation only if the "guarantee that the Strategic Investment Fund (ISF) is also involved in this operation with a minority and that one or more international investment funds take a significant share of all-Aerolia Latecoere.

But Latécoère not only string to his bow. It also conducts talks with Chinese Avic, American Spirit, the Dutch Fokker and British GKN, the economic daily said.

Lagardere sells at high prices to its Hearst Magazines International

January 31, 2011 - 9:32 am Comments Off

In a forced march. Less than a month after announcing the opening of exclusive negotiations with U.S. publisher Hearst, Lagardère has completed the sale transaction of its global news division.

According to our information, the operation reached a total value of 720 million euros, 650 million in cash and 8 million a year in royalties under the license for Elle magazine. What credit the women's magazine with a net present value of at least 70 million euros.

Lagardere, which has a framework agreement for this purpose in several countries, will retain ownership of the brand, merchandising and will have a say on the editorial line.

If Lagardère now refocuses on France, it protects the passage of one of its most beautiful asset in the national territory through a licensing agreement with a purchaser Hearst.Finally, Lagardere keeps 30 million euros of real estate that he intends to sell later. The scope of the operation on 102 newspaper titles in 15 countries. Neither Hearst nor Lagardère were willing to comment on the Sunday operation.

This sale is expected to positively surprise the market. Aware of the nuggets of the group as the 42 versions of Elle magazine and the 12 international versions of Psychology, the latter assumed an amount exceeding 500 million euros, but its high estimate never exceeded 700 million. Is roughly the turnover of the international press center, which has 5,000 employees and 58% of the total turnover of the entire magazine division of Lagardère my credit score.The latter amounting to 1.270 billion euros.

Leader

Finally, the United States, Lagardère is also the publisher of prestigious brands such as Car & Driver (1.3 million copies) and Woman's Day (3.8 million). What have raised the stakes throughout the negotiations.

This operation will therefore allow the French group company debt in late 2011 and get him out of an industry where it considers no longer have the critical mass to compete favorably and restructure. In 2009, the victim of a sharp downturn in advertising, more marked than in France International, the group had already sold five U.S. specialty magazines (Popular Photography, Flying, Boating …) to the publisher Bonnier.He had also arrested a half-dozen magazines in the world.

For his part, Hearst consolidates its leading position in the magazine not only on its home market but also globally. The latter has a total turnover of $ 4 billion and employs approximately 20,000 people worldwide. He holds a dozen magazines like Harper's Bazaar – the biggest competitor of Elle – Cosmopolitan, Esquire, Country Living with nearly 200 international versions. If the strategy is clear to the American group, Lagardère will now have to convince his own. Last week, he emphasized his desire to concentrate on its subsidiary Sports Unlimited.

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Equipment: the ball is open merger

November 23, 2010 - 5:12 pm Comments Off

Resumption of air traffic, restarting orders, stabilization and ramp-up of the A 380 and B 787 … The coming years should create favorable conditions for "a structuration of the aeronautics and another distribution of value added between contractors and suppliers. " That is one conclusion of the annual study released today by Euler Hermes. "Airbus and Boeing are refocusing on the architecture and their role in integrating and play the card of outsourcing whole package," note Yann and Bruno Lacroix Goutard to the direction of Strategic Studies of the credit insurance company. Boeing has outsourced 70% of B 787 but, faced with repeated challenges of the program is trying to relocate the work in its U.S. plant in Everett.Airbus has been more measured in 50% confident of the A 350 WXB, its long-haul future, with major partners.

Manufacturers have begun the movement by selling assets that are no longer at the heart of their profession. That is very true in Aerostructures Boeing sold its Wichita site at Spirit, become a leader in the specialty; Airbus has sold its UK sites specializing in wings and GKN sold Socata to Daher absolutely free credit score. In this business, France has four more players (15 in Europe) with Daher-Socata and Sogerma Aerolia, two subsidiaries of EADS and Latecoere. The Toulouse-based company in trouble trying to lean against.

Industry organizations outsourced aircraft manufacturers will therefore give the kickoff to a massive reorganization of outsourcing in France and Europe who need champions weighing at least $ 1 billion.Size deemed necessary to become a partner of rank 1 (Tier-One) by sharing with the manufacturer's technological and financial risks. In France, the ecosystem is concerned nearly 90,000 jobs of which 73,000 are employed by subcontractors of rank 1. Airbus and Boeing will support this movement because they need to stabilize their "supply chain" and rely on strong partners. Some of their competitiveness depends on their suppliers.