Posts Tagged ‘news’

EDF for a price increase of 30%

March 24, 2011 - 4:44 am Comments Off

Rising energy prices could rise even faster. EDF, controlled nearly 85% by the State, public authorities have offered to pass on higher energy prices on the individual invoice. The increase in electricity prices would range between 5.1% and 6.5% per year until 2015, including inflation, reports Les Echos. At EDF said this morning it had not formally asked the government increased tariffs. On the government side, it also denies the information.

The Energy Minister, Eric Besson announced in effect a "slight increase" in electricity prices this summer. Before the National Assembly, he added that the government did not study "no significant increase" of these awards, underlining that "EDF did not transmit the request to increase rates corresponding to the ranges cited.He had said this morning: "In any event, a document emanating from EDF does not commit the Government." According to Eric Besson, "future pricing decisions will be made with a view to protecting the purchasing power of French people should continue to benefit from electricity 40% cheaper than the average of other European countries, thanks to the nuclear .

Increase between 28% and 37% in five years

The minister however said in February that the increase in electricity prices was "inevitable" in France to finance investments in nuclear power and renewable energy development. And this increase is expected to reach between 28% and 37% in five years, says Les Echos.

The increase in electricity prices depend on the price of Arenh (regulated access to nuclear power history).As part of the liberalization of Europe's electricity, law Nome, EDF is forced to sell up to 25% of its production of nuclear energy to its competitors prices Arenh no fax pay day loan. This rate has not been fixed and is continuing to debate. GDF Suez campaign for a level of 35 euros per megawatt hour (MWh), where the group chaired by Henri Proglio claims 42 euros in 2011 and steady increases to reach 46 euros in 2015. For now, the Regulatory Commission of Energy recommends a redemption price of 37.20 euros and the Champsaur report favors him a price of 39 euros.

Two scenarios

Eventually, the Nome Law provides that the cost of nuclear power in the rates converge to the price of Arenh 2015. But the cost of megawatt is estimated at 35 euros today.So to mitigate rising electricity prices on the invoice particular, EDF has scaffolded several scenarios, reports Les Echos. The electrician tricolor believes that the rise may reach 4.7% per year above inflation to 6.5% including inflation. However, if the government agrees to a modification of certain taxes, including the ability to finance renewable energy, the annual increase in rates could be limited to 3.3% above inflation to 5.1% with inflation.

At the debates on nuclear safety and the needs of investment in nuclear power seem to dominate after catastrophe Fukushima, appeals to higher energy prices could be heard. Still, the context is already loaded for the French who are with increases in fuel and gas.These potential increases could well fuel a new controversy and the fourteen months of a presidential election.

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Japan's economy paralyzed after the quake

March 11, 2011 - 1:16 pm Comments Off

The most powerful earthquake which claimed the North-eastern Japan early this morning has an impact on the Japanese economy. Before long, the Nikkei has literally collapsed, the yen has fallen and the country is, for now paralyzed.

In fact, air transport and railways have stopped Friday in much of Japan. Traffic was stopped in the major airport of the archipelago, at Narita, in the Tokyo area, where services were checking the status of airport runways. Shinkansen express trains were immediately arrested throughout the northeast of the archipelago, and highways in the Tokyo area closed a few minutes after the earthquake.

Similarly, the markets, the response is immediate. The Japanese currency fell against all the eight major currencies.The Japanese currency is thus dropped to a low of two weeks against the dollar at 83.30 yen to the dollar and 114.98 yen per euro after issuing a first warning to the tsunami.

The index of the Tokyo Stock Exchange, the Nikkei 225, has accelerated its losses late in the session. The benchmark index of the place of Japan and ended lower by 1.72%

It must be said that the disaster – which worsens progressively transmitted information has been particularly violent. The quake had a magnitude of 8.8 at 6:46. A scale rarely observed. Waves of 4.2 meters swept the Pacific Coast. Japanese TV shows and soon after the earthquake has made "many injured".

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How Libya scatters its petrodollars

March 8, 2011 - 12:40 pm Comments Off

Libyan petrodollars have long passed quietly around the world. While always well received. Arab revolution requires, Westerners watching today in a different light from the billions in oil exports from the country of Gaddafi. The European Union (EU) plans to take to freeze, probably this weekend, the main assets of sovereign funds Libya, the Libyan Investment Authority (LIA).

The United Kingdom has already passed the measure Friday. The United States has blocked them from about March 1, nearly 30 billion dollars belonging to the clan indiscriminately Gaddafi, the LIA and the Central Bank of Libya. And for good reason: its main leaders, and Mustafa Mohamed Layas Zart, are among the closest circles of Gaddafi.The fund would be even "personal reserve the clan (…), the baby of Seif al-Islam, a son of the" Guide "Libyan sources said internal LIA cited by the British Radio 4.

"Arm politico-financial"

The very opaque Libyan Investment Authority (LIA) would manage $ 75 billion (53.8 billion euros). Added to the reserves of the Central Bank of Libya, the jackpot amount to $ 150 billion (107 billion euros). Its mission is twofold. He first act of "political and financial arms of government at national, regional and international levels", explains Ubifrance. Some investments are strategic, as its 5% in the Italian bank Unicredit.

But the Fund must also and above all be highly profitable.It aims to "contribute to diversification of income of the nation and achieve the best possible return on investment while minimizing fluctuations in income," explains an official presentation document instant credit report. Where did he invest? Hard to say. In 2009, the purely financial subsidiary of the Fund, the Long-Term Investment Portfolio, including portfolio investment in the long term, have invested nearly $ 7 billion euros in Europe, of which 5 billion in France, according to a document published in April 2009 by Ubifrance. It would have been notably non-strategic equity investments in large groups Cac 40 as Alstom, EDF, Total, France Telecom or, from the same source.

1.2 billion in French banks?

LIA would also deposited 1.2 billion euros at the time in funds managed by major French banks.Societe Generale and BNP Paribas are cited, but none of the two institutions were willing to comment on the report. The Fund would finally owned the prestigious Parisian building FNAC Wagram, according to the document Ubifrance.

These figures, although two years old, are the most accurate available to date. For several reasons. Experts agree that the LIA is one of the most secretive sovereign funds in the world. On the other hand, it is difficult to track investments announced. "The LIA launched many projects and not resulted," says Jean-Marc Puel, partner of the investment fund Sagitel Ltd and specialist subject.Finally, he adds, "the Libyan funds did not employ the most professional teams in the industry." Paradoxically, this could well complicate the task of bloodhounds should freeze the financial assets of the Fund.

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Award: "We are not yet in phase of euphoria"

February 19, 2011 - 6:08 pm Comments Off

The economic and financial crisis has shown that market prices could deviate from the long-term fundamental value of assets. Speculation and economic fundamentals are not sufficient to explain certain behaviors described as irrational. It is the foundation of a theory, behavioral finance, developed in the 1970s by Daniel Kahneman and Amos Tversky, rewarded by a Nobel Prize in 2002. It is now taken by some societies as JRC AM that it is a specialty, with its capital CCR Growth Flex.

lefigaro.fr / jdf.com – Since the beginning of the year, investors prefer the values they abandoned last year. They would lack of discernment?

Roman Lahoste – Investors may lack discernment as shown by some excessive turnovers.And indeed this is true for sectors but also for geographical areas, as the CAC 40 index outperformed both the U.S. stock indices as the indices emerging.

L'horizon économique s'éclaircissant quelque peu, les investisseurs reviennent sur les valeurs ou les zones géographiques qui ont le moins bien performé l'an passé et qui paraissent donc bon marché. They do not care whether they are rational or not. Besides, if you look at previous cycles, they have always worked like that.

We are witnessing yet to rebound more than 20% for certain sectors such as banking shares.Did we go from one extreme to another?

That's true if you look at sectors or certain geographical areas but more broadly, I do not think you can talk about brutal downturn: global equities continue rising started out of the summer of 2010 as as fears subside.

Financial markets bull born in pessimism and doubt may be long upon the optimism and reach their climax in the euphoria. 2010 was a year of doubts and 2011 will be the return of optimism. But guarded optimism. We are not yet in a phase of euphoria. We go out to the penalty phase of doubt.

When is it we're in this phase of euphoria?

When investors do not perceive more risk and will not want to see positive signs.In other words, when financial markets are no longer concerned about the European and U business cards.S. debt or the rising inflation in emerging countries for example. But at this point, it will not necessarily leave the market as rising euphoria can last very long.

As the saying goes on Wall Street, he must stay invested in winning positions and cut their losing positions. Investors such as portfolio managers generally have the temptation to do the opposite. And that is their mistake. After realizing a profit, even if they can still hope to double their bet, they will tend to take profits. However, after a loss, rather than cut their losses they will tend to leave the risk and not sell. The investors then react as casino players who want to "remake".

How should investors do to prepare for this phase of euphoria?

Anticipate market reversals is a very difficult, unreliable and time consuming. Investors should instead be setting standards of conduct and maintain it, even if they miss some opportunities. Indeed, we believe it is better to forego a gain in the short term to avoid a larger loss in the long term.

From a technical standpoint, we recommend the establishment of "stop loss" (order placed by an investor to limit his losses in case of falling stock price, Ed) that serve as "safeguards "to compensate for the risk manager in the extreme phases of markets or the decision is often distorted. A phase of euphoria usually turns into a bubble.However, if one knows when it starts, you never know when it stops.

Should we fear the next bubble?

Since markets exist, there have always been bubbles and crashes. Each time, investors have not learned.Behavioral finance teaches us that all these risks are extreme benefit related to human psychology never changes as economic fundamentals./ P>

"Faced with losses, investors' attitudes changed dramatically": they are more likely to renew their commitment vis-à-vis an investment when it posted a loss

Switzerland: Asia saves luxury watch

February 12, 2011 - 3:24 am Comments Off

Despite the rise of the franc, the Swiss watch industry is growing again. In 2010, exports of the sector amounted to nearly 12.3 billion euros, or 22.1% more than in 2009-results that reflected their pre-crisis level, due to the vivacity of Asian market.

After a year of slowdown, how brands have they faced the recovery? Some had anticipated the rise in sales. "In late 2009, our results were already excellent," says Jean-Claude Biver, CEO of Hublot watches. We bought more raw materials and hired 60 people! "Other chains have also relaunched the recruitment as Breguet, Tag Heuer and cores. Some, finally, forcing customers to wait. "For a Panerai or a Montblanc, it can go up to a year, said H. Roderich Hess, former CEO of Montblanc Switzerland.Customers know that the luxury watch requires exceptional skill and they patiently wait. "

The industry is optimistic, however, hampered by the rise of the franc. In an interview with the magazine Bilanz, the director of Swatch, Nick Hayek, estimated at 380 million euro loss for 2010 sales caused by depreciation of the euro. The competitiveness of the Swiss watch has declined.

To fix an exchange rate to their disadvantage, producers have raised prices of their watches: +5% in 2010 for Audemars Piguet and Cartier, who think all over again, like Jean-Claude Biver. "While ensuring the value of our currency on forward markets, we have adjusted our prices four times in 2010, an increase of about 20%," says he.

Subcontractors affected

The rise of the franc was not all bad.It allowed the watchmakers to buy at lower prices for raw materials and components abroad. A strategy has its limits: to get the "Swiss Made", these companies must in Switzerland at least 80% of manufacturing costs for mechanical watches.

If large groups are doing well, this is not the case for their sub-contractors, some 600 Swiss companies that still show the effects of the crisis. "They are affected first and the last to resume growth as brands sell their stock before ordering new," said Jean-Daniel Pasche, president of the Federation of Swiss Watch Industry. After losing 20% of its turnover, the director of Pac Team, Alain Borle, "sees a light at the end of the tunnel.Watchmakers have not really launched new programs, but I think imminent. "

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Euro: Berlin wants to impose on the German model

February 3, 2011 - 6:28 pm Comments Off

Angela Merkel changes course. Reluctant for months about the idea of "muscle" financial rescue fund for the euro, it is now endorsed. But it sets the conditions by imposing Germany as a model for future European discipline and embracing the method – dear to Nicolas Sarkozy – an "economic government" to own the euro area.

The price of rallying German competitiveness is a pact designed and detailed in Berlin on behalf of European integration. It grows stronger and far beyond the code of conduct economic, fiscal and social Europeans update every bout of weakness of the euro.Implicitly, the Chancellor and his finance minister, Wolfgang Schäuble, stressed what passes for evidence in Germany: if Germany pays for others, it is entitled to set the rules of the game

Wages, pensions, deficits

The new pact, finalized Wednesday by the German coalition government, promises to be the decisive contribution to political debate, far more technical, the strengthening of the European financial stability. To counter the next market turbulence, Berlin agreed to increase the capacity for effective intervention to 440 billion euros, against 250 billion today. But it would be at the cost of a course of orthodoxy Pan: indexation of wages, raising the retirement age, leveling of taxation and the establishment of constitutional limits on deficits of the German model.The whole may be accompanied by penalties.

Berlin can claim to have weathered the crisis better than others instant payday loan lenders. She also cleaning the support of Paris for the first time Angela Merkel gives up his plan to enroll within the EU to twenty-seven. Left to cringe at Brussels, Germany opted for the euro area, even the few major countries that are prepared to follow. This is precisely the approach that the French president had in mind when it launched in 2009, the idea of an "economic government" of the euro, considered more effective than injunctions Brussels.

Angela Merkel and Nicolas Sarkozy will defend the new assembly line Friday at an EU summit in Brussels. The German pact is subject to ongoing discussions, confirm what we in Paris. It will be discussed between Angela Merkel and Jose Luis Zapatero on Thursday in Madrid.The long awaited return of "directorate" Franco-German, could be expanded to other large euro as Spain or Italy, cast already concern in the ranks. Belgium, champion of the indexation of wages, fear of having to waive such as Luxembourg, Portugal and Malta. Ireland and Slovakia are concerned about having to raise taxes on corporations, their weapon of seduction in the eyes of multinationals.

The puzzlement is especially palpable in the Barroso team, always convinced that it must prevail in the recovery of the EU and the euro in the period. "Wanting to act outside of established European institutions is clearly a step backwards," said a senior Commission official.

Oil: the situation of the Suez Canal worries

January 31, 2011 - 10:52 pm Comments Off

The situation becomes more blurred in Egypt and a barrel of oil rises. On the only day on Friday, the price of a barrel of light sweet crude for March delivery gained 4.32% to 89.34 dollars in New York as they leapt from 2% in London, pushing Brent a hair of $ 100 (99.74 dollars). A threshold has been crossed over from 1 October 2008.

On Monday, the rise continues. In morning trading in Asia, the "light sweet crude gained 37 cents to 89.71 dollars and that of Brent North Sea has appreciated by 18 cents to 99.60 dollars.

The Suez Canal in the heart of the concerns

This rise of prices, after several sessions swales, reflects the fear of the markets to see the routing of oil through the Suez Canal impacted by the events.Since the early disruption, port operations are slow and some employees can no longer reach their workplace. In addition, ships can no longer find in the port of Suez capable of military escorts to protect them while crossing the Gulf of Aden, whose waters are crisscrossed by hackers.

"No ship has been delayed for two days but no responsibility for immigration and customs has come to give permissions for security teams to shipments, said a coordinator of a freight company Suez. Crew changes have also been disrupted and some supplies, like food and water, are no longer transported to the port, "he added.

Nervousness

The situation is even more problematic that about one million barrels per day pass through the Suez Canal.In 2009, the latest data available, more than 34,000 vessels passed through the canal, including nearly 2,700 tankers carrying approximately 29 million tons of crude free online credit report. "There is some nervousness about supply and this could affect Europe more than the U.S.," said Tom Bentz of BNP Paribas.

Now, ships calling at ports in neighboring countries like Turkey or the UAE for their supplies. "If the shipping lanes closed, it will be a detour of 6,000 miles (almost 10,000 kilometers) in order to ensure deliveries," warns Rich Ilczyszyn, Lind-Waldock.

Also concerned about the situation, OPEC said that a "shortage" of oil is possible. The secretary general of the organization, Abdullah El-Badri said, however, that OPEC stands ready to increase production if necessary.

"A blip"

Some observers, however, take the situation into perspective. "Investors are speculating on the situation of the channel but it has very little chance of getting stuck in the light of financial challenges it poses to Egypt," said Djillali Hacid, technical analyst at XTB France. Remarks confirmed by the Egyptian official media said on Monday that the Suez Canal works "full capacity".

"For now, the impact of Egypt on the course is not so huge. This is just an excuse for investors to speed up that takes place from August but stumbled on the psychological threshold of 100 dollars, "adds the analyst XTB.

Evolution of a barrel of Brent since February 2010. Source: XTB France

Davos warned against a "social crisis"

January 26, 2011 - 2:04 pm Comments Off

"We must make sure that this crisis does not become a social crisis, it is in some countries," Klaus Schwab recently launched, presenting the 41st edition of the World Economic Forum, taking place from this Wednesday and until 30 January in Davos. The founder and patron of the great rout of globalization, has always denied being the apostle of unbridled liberalism. He claims to share the values of Rhineland capitalism, its country of origin, with the aim of tarnishing account "all parties involved (stakeholders), and not just shareholders (Shareholders).

After the horrors of the great economic depression that had dominated the discussions in January 2009, then questions about the strength of the recovery in 2010, this year will define an equilibrium point."Changes in economic power from west to east and from north to south have created a completely new reality," said Klaus Schwab. "Standards for a new shared reality" is the theme of Forum 2011. The "new reality" is "a world with centers of power multipolar, characterized by a high degree of volatility and the entrance (and exit) of actors in a global race for competitiveness."

Besides the 1400 big bosses of companies, mostly multinational corporations, the Forum is proud to host 35 heads of State or Government. Only absences table those of Barack Obama and Hu Jintao, who met last week in Washington in a G2 singular.Davos organizers acknowledge privately that the date of their summit in Graubünden (1500 m) does not encourage the Chinese to travel (they celebrate their New Year on February 3), any more than Americans.

Barack Obama absent

Obama will deliver a speech on Jan. 25 State of the Union, even more important for the American political class that the majority of Congress has just changed. Still, "nineteen governments of the G20 will be represented at ministerial level at least," (with Timothy Geithner, U.S. Treasury Secretary, and Chen Deming, Commerce Minister of China). Only Argentina will default as a member of the G20. As the president of this institution, Nicolas Sarkozy, who will travel for the second consecutive year in Davos, he will deliver his speech on "the state of the world" and his proposals to make it less volatile, January 27, exactly.

Dmitry Medvedev, the president of Russia, as originally planned should open the World Economic Forum. This meant that the time of his speech. Monday night, the spokesman for the Russian head of state announced that Dmitry Medvedev had postponed his departure for the station grouse in the Swiss Alps after the attack that is 35 dead in Moscow Domodedovo Airport.

According to experts, Dmitry Medvedev, if he confirms his coming, it will redouble its efforts to ensure against the hundreds of great business people and bankers that Russia will not allow another disaster like that which befell the airport Domodedovo. He will try to convince most that the country remains a safe place for foreign investment that it hopes to attract.In any event, the question of "terrorism" that Moscow describes as a greater "threat" should invite themselves in dozens of debates planned to dimanche.dor

Kremlin economic advisor Arkady Dvorkovich has acknowledged that the investment climate in Russia might also suffer from the recent second conviction of Mikhail Khodorkovsky, the former oil tycoon. "I think at least a substantial part of the international community will ask serious questions and concerns about the risks of working in Russia will increase," said Dvorkovich, the Russian gazeta.ru website, which remarks were reported by AFP.

The NYSE should pause

January 5, 2011 - 4:44 pm Comments Off

The U.S. stock market should open slightly lower on Wednesday. Futures on Standard & Poor's 500 index retreating into effect from 0.73% to 1256.10 points and those on the Nasdaq 100 2231.25 0.63% in points. Tuesday, the U.S. indices finished piecemeal. After reaching the highest since the summer of 2008, the Dow Jones rose 0.2% to 11,691 points, but the S & P 500 fell 0.1% to 1270 points and the Nasdaq lost 0 , 4% to 2681 points.

On the foreign exchange market, the euro continued to fall Wednesday against the dollar raised by renewed optimism on the resumption of the U.S. economy, while continuing concerns about sovereign debt in the eurozone continued to weigh on the single currency.About 11:00 am in Paris, the euro stood at 1.3256 dollars against 1.3303 dollars late Tuesday.

New round of macroeconomic indicators

On the macroeconomic front, investors will be watching especially this Wednesday, the ISM index on the services sector. This figure is actually much more representative of the U.S. economy as the ISM manufacturing index released Monday. Investors also await the start of the afternoon counts of the ADP survey on employment in the United States. Statistics scrutinized by investors because they often foreshadow those of the monthly report on employment expected Friday, a major indicator to assess the strength of U.S. recovery.

For its part the U.S. central bank (FED) said yesterday in reporting its last meeting that the European crisis is one of threats to the recovery in the United States.U.S. growth should, however, experience a burst in the short term.

Also on the macroeconomic front, according to Retail Metrics, retail sales in the U.S., rose 3.4% in December over a year. This is their strongest growth since 2006 and the best month of the year for U.S. distribution. The snow storms that have occasionally affected sales, purchases by households after Christmas, were very dynamic.

Another good new real estate office would have experienced a slight improvement last year. For the first time in 3 years, rental prices have increased slightly in the fourth quarter 2010 vacancy rate remains high (17.6%, the highest since 1993) and the prices are low (they were $ 25 average in mid-2008).But the stabilization or even slight recovery, employment benefits to this area.

Facebook and Goldman Sachs in the crosshairs of the SEC

The side of values, Constable U.S. stock, the SEC has decided to focus on investment bank Goldman Sachs in Facebook, to ensure it does not circumvent the rules governing non-listed companies, says Wall Street Journal. Under the current rules, dating from the '60s, when a private company reaches a threshold of 500 shareholders, it becomes compelled to disclose certain financial information. Many commentators saw in the investment of 500 million made by Goldman Sachs with the Russian group mail.ru a way for the community site to gain access to customers of the prestigious U.S. bank, while remaining below this threshold, and freeing itself from any limitations of transparency.Depending on the outcome of its investigation, the SEC could recast the regulations in force, according to the Wall Street Journal. For the regulator, the newspaper said, the challenge is to find a compromise between protecting investors and unlisted companies will have access to sources of capital.

Also note, the year 2010 has been very positive for automakers and marks the return of the Big Three U.S. automakers General Motors (GM), Ford and Chrysler, according to figures released yesterday after the close of Wall Street. A total of 11.6 million vehicles were sold in the U.S. last year, up 11% year on year, according to provisional figures from Autodata. Manufacturers should respond to these figures.

Always on the side of values, also after market, the manufacturer of fertilizers Mosaic, released its results for the second fiscal quarter.The group's profits climbed to over $ 1 billion, well beyond analysts' expectations. Turnover was up 59% to $ 2.7 billion is also above expectations. Gross margin was 29% against 18% last year. A note in the margins phosphates rose 24% with an average price of $ 461 per tonne against $ 287 last year. Production capacities are rapidly recovering (88% on American soil).Sales prospects are positive according to the company.

In addition, the American designer of components for mobile phones Qualcomm on Wednesday announced the acquisition of its partner Atheros Communications, a specialist in wireless and Bluetooth connectivity, based on an enterprise value of $ 3.1 billion dollars.

Annual gathering of consumer electronics in Las Vegas

The world of consumer electronics is preparing the opening Thursday of its big annual event in Las Vegas. This market is in full recovery is expected to reach almost one trillion dollars this year. Moreover, the Chinese computer manufacturer Lenovo introduced on Tuesday in Las Vegas a new hybrid version of its IdeaPad computer, a laptop running on Microsoft Windows 7, the screen can become detachable tablet Android (Google ).In the same sector, the U.S. Court of Appeals reinstated a verdict quashed in September who thought the software giant Microsoft guilty of patent infringement against rival Uniloc, but has not confirmed a significant financial penalty $ 388 million.

In Europe a heavy presumption weighs manipulation on Google. This is evident first of questionnaires sent to European players of the Web by the European Commission as part of its antitrust investigation on U.S. Internet group.

Marseille and the French ports debacle

October 18, 2010 - 3:56 am Comments Off

Port reform was to restore the competitiveness of French ports. It is killing them slowly. One hundred employees of the Grand TMC Sea port of Marseille (GPMM) blocks since September 27 and the oil terminals, intermittently, the container terminal and inland basins of the city. The majority union refused the application of the reform passed in July 2008 which provides for the transfer of private operations of ports, mostly cranes and their drivers. The CGT union wants to maintain its majority in the GPMM and therefore his power over the port. Yet the reform, by transferring to private operating activities, will deprive the biggest battalions unionized.Hence his insistence on claiming that the 220 employees who must be transferred to the subsidiary created to gather oil terminals retain payroll of GPMM.

Therefore, approximately sixty boats and their crews at sea are blocked And Friday, in reaction to the release by the SRC of an oil depot blocked by strikers, the CGT has closed the access road to the port. These actions substantially disrupt economic activity in the region. According to the CMU, the union bosses of the port, they lose three direct jobs and 350,000 euros per day on the container terminal at Marseille and 1.5 million per day on oil terminals. $ 30 million in three weeks. For shipowners, the detention of a container costs more than 50,000 euros per day.

Containers blocked

"It's been over thirty years that it lasts.The state should not let a handful of CGT destroy the port, "Storm Jean-Luc Chauvin, president of the Employers' Union of the Bouches-du-Rhone cash advance to savings account. Dellaporta Christian, owner of ERS, a company specializing in the removal of expatriate managers, has seen its business drop by 40% over the last three months. "I have clients who have been waiting for their summer move to America or Asia, says he. Containers are stranded in ports and other owner does not come at this time in Marseille. "The paint manufacturer Thierry Fabre hoped to refloat the vessel after a difficult 2009 thanks to a big contract with the United States. His first container remained on the docks for a month and the second, to avoid Marseille, had to be transported by rail to Havre, where he was going to sea Alas, the strike has blocked the railway in Paris. He must have it shipped by road.Total: an additional cost of Euro 1300 with a cargo of 40,000 euros. Thierry Fabre plague of "being delivered to the whims of 36 crane overpaid blocking economic activity of an entire region."

Some employers are turning their backs on the port phocéen. "We had already decided in late August to spend two thirds of our flow through other ports and today it all, sorry Metadier Christian, executive vice president of Canavese, a leading French fruit and vegetables costs. Marseille is ongoing strike is unmanageable. Freight rates are 20% higher than in Antwerp. And besides, the cost of unloading the container is 15% more for a service that can take up to four hours a week against Antwerp! "

The second to fourth place in Europe