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Change in the indices of the Paris Bourse. The Franco-Belgian bank Dexia and media group Lagardere will leave the CAC 40 September 20. They will be replaced by the bank Natixis, a subsidiary of BPCE, and the communication group Publicis. They wait patiently until two values within the index "Next 20", will welcome their places Dexia and Lagardère.

Natixis and Publicis laugh, cry and Lagardère Dexia

Meanwhile, financial markets on Monday welcomed the news: Natixis gaining 3.26% to 4.57 euros and Publicis rose 1.50% to 34.95 euros in a market up slightly at 0.12%.Conversely, Lagardere was down 2.42% to 28.05 euros and Dexia loose 2.03% to 3.37 euros, to 10.30, the two largest declines the CAC 40.

Edenred, company resulting from the division of Accor, the chemist and Rhodia will join at the same time that antechamber of the CAC 40 in place of the services company Atos Origin and Land Regions.

These decisions were taken Friday night by the Scientific Council of the indices of the Paris Bourse. It meets at least four times a year to update the content index. To determine the entry or exit to a value of the CAC 40 are taken into account many factors: the respective weight values, number of transactions, volumes of shares traded and turnover.

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For the first time since 1980, the number of three public (state, territorial and hospital) have stagnated in France in 2008. Specifically, they rose only 1800postes. From never-seen since 1980. At 31 December 2008, according to report data annually on the Public Service published yesterday, the Hexagon were almost 5.3 million employees, or 20.5% of total employment, and 656,000 more than a decade ago.

The virtual stagnation of 2008 is largely to the credit of the state civil service has continued to decrease in population from 2006. It has eliminated 77,000 jobs last year, including through non-replacement of a staff of two who retire and to continue the policy of transfer of powers to local authorities. This represents a decline of 3.1% of its workforce in a year.France, employs 2.4 million civil servants, 69.5% and 14.1% of holders of soldiers. This total is 1.4% lower than in 1998, representing a decline of nearly 35,000 agents in a decade.

The numbers have declined in 2008 across all departments, with the exception of Justice and the prime minister. The portfolios of Education and Ecology have been most affected by the cuts with cuts respective 43,000 and 23,000 agents. Finally, almost a two-state official now works in education, one in five of Defense and Interior to eleven.

2328euros per month for a state agent

Another finding of the report 2009-2010 on the state of the public service: local authorities have continued to recruit with a vengeance with nearly 70,000 new jobs in 2008.The local civil service now employs 1.82 million people. A total of 3.9% higher than in 2008 and, especially, a surge of 40% compared to 1998. This dramatic increase is partly related to the second law of decentralization occurred in 2003. The regions – which employs only 4% of all local officials – have been particularly intensive public sector jobs as they saw their numbers jump over a decade, from 22.5% on average each year and even 49% per year since 2005. In more than one in four cases, recruitment occurred three years prior to 2008 had nothing to do with transfer of responsibilities from the State.

The public hospital has, meanwhile, was more reasonable since the increase of its workforce in 2008 was four times lower than that of local authorities: 1% over one year or more 10000agents.At December 31, staff of public hospitals accounted for approximately 1 million people. Those numbers have increased, on average ten years, 1.8% each year.

Pay later, an officer of the state received an average of 2328 euros net per month in 2008. An increase of 3.7% in current euros a year and 0.9% after allowing for inflation. Territorial Agent earned nearly 600 euros less and a hospital, 150. In both cases, the territorial and hospital officials have seen their wages decline in net income a year, by 0.6% and 0.1% in constant euros.

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Dropped 6% Eurostoxx 50 in four meetings. -4.5% On the Dow Jones. The stock markets are feeling the pinch since five days after a series of disappointing indicators. But the deteriorating economic conditions may explain in part the decline of recent days. A new phobia stirred since mid-August the community of technical analysts, very active in the Anglo-Saxon: the Hindenburg omen. According to this theory based on statistical observation, when during a single session, a large amount of assets a share price reached its highest level since 52 weeks and another group of shares is in contrast to a low of 52 weeks, then it presages a new crash on Wall Street. This configuration has indeed preceded all the crashes of the past 25 years.Now this rare phenomenon has been observed on August 12 last.

At first glance, the analysis may seem silly, but when we know the possible influence of technical analysis on decision making in trading rooms, the question deserves some attention here. An emphasis on this theory could have the effect of precipitating the collapse of markets by a kind of anticipatory self-fulfilling.

What happened on August 12

On 12 August, the same day at least 2.9% of U.S. stocks from the NYSE reached a peak of 52 weeks, while at least 2.6% of values fell to a low of 52 weeks. This configuration, called "Hindenburg omen," referring to the crash of a German Zeppelin in New Jersey in 1937, would thus poses a risk of an imminent collapse in the New York Stock Exchange.For the scenario is validated, however, requires that the configuration is again within 35 days. However, if one sticks to the analysis of Robert McHugh Marketoracle website, seems to have been the case, last August 20.

More ominously, this type of configuration, which, under certain conditions, would have preceded each of the 25 crashes last year. This was the case before the crash in the fall of 2008. The figure was also present a few weeks before the stock market crash of 1987. We could observe three trading days before the panic of October 1989. With this indicator, the 1990 recession, falling stock markets linked to the collapse of LTCM and Asian crises of 1998 were also predictable.

A highly controversial approach

By looking more closely at the scenario is unlikely to occur. To understand this flag, it must return to basics.The paternity of the Hindenburg omen Miekka back to Jim, who edits a newsletter called the Bull & Bear Report Sudbury. But the very idea of this flag goes back to later, finding its roots in another indicator: the high low logic index, described by Norman Fosback in the 1970s. In his book Stock Market Logic, the American economist, explained why when at the same time, a significant number of shares reached a new high and a significant number reaches a low, markets are likely to decline. This shows that the market is undergoing a period of extreme divergence, which is generally not conducive to future rising stock prices.

But where Norman Fosback had merely simple criteria, proponents of the Hindenburg omen facing a multitude of conditions, which are subject to interpretation, and therefore are not unanimous.That's where the shoe pinches. In practice, it is virtually unenforceable.

Reliable indicators abound in the sense of portent

When the five conditions necessary for the validation of the Hindenburg omen are met, the stock market crash, defined by a rapid drop of at least 15% of stock market indices in the next four months, would then have 30% chance to occur. A contrario reasoning is sufficient to limit the scope of this prediction: if a 30% chance that a crash occurs, there are so 70% it does not happen! This likelihood does not however exclude the possibility of an imminent crash.

This approach also runs counter to the traditional view of technical analysis, which is to banish any source of subjectivity by analyzing the market through simple indicators, not subject to multiple conditions in an attempt to predict the evolution courses in the coming weeks. Technical analysts therefore recommend to always use the same indicators that markets go up or they fold, including the trend of moving averages.These reliable indicators not currently exclude a decrease of 10% to 15% of the market in the coming weeks, as recommended in the Hindenburg omen.

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The Paris Bourse hesitated Wednesday

The five conditions of the Hindenburg omen

First, the quota values that cross new thresholds upward or downward has been lowered. For Norman Fosback requires a minimum of 5% of the relevant securities. But for the Hindenburg omen it requires a much lower threshold of 2.5%.

Further, the followers of the Hindenburg omen believe it should be interpreted in light of several other indicators on the conditions of validity of five.The first condition, the most important is that the highest and lowest of 52 weeks. The second is that the moving average of ten weeks NYSE should be increased. Thirdly, the McClellan Oscillator (a proxy measure of volatility) must be negative on the same day. Fourth condition: the highest amount of new 52-week values the NYSE should not exceed twice the amount of new low of 52 weeks. Finally, and this is the fifth and final condition: the scenario must be repeated within 36 days after the first appearance of this configuration market.

The sun should be looking good these next few days on the coast of the Vendee and Charente-Maritime. In this time of summer vacation, the sea should also be delicious. Nothing like with the weather of February 28 last, when the storm Xynthia that swept the country sowed chaos in this part of the Atlantic coast. In the only common Vendée La Faute-sur-Mer and The Sting-sur-Mer, the most affected by the storm, 29 people died. Nearly five months after the tragedy, these two villages devastated recovering gradually. But in this popular tourist region during the summer, Xynthia has left marks that plagued the start of the season.

If the Office of Tourism Osten-sur-Mer laments a decline in attendance of about 10%, traders stand more negative findings."The customer is down 30% to 40%," says Pascale Soussi Restaurant La Terrasse in Sin-sur-Mer. "And it was discussed among traders: It's the same for everyone. At the restaurant La Marina, sixty meals are served daily on the usual hundreds. At the Hotel du Port, Osten-sur-Mer, Sophie Ramon prepare a statement even less favorable in the hotel which was flooded by 82 inches of water in late February and closed more than a month, attendance was halved.

Three campgrounds closed

In case the destruction of several campsites and many second homes have contributed to empty the streets of the town. A La Faute-sur-Mer, the municipal camp was finally closed and that the Blue Waves should not reopen until April 2011.As for camping Municipal The Sting-sur-Mer, it is only half available: caravans and tents can again take up residence in the "upper" since July 1. But the other part, where you could rent mobile homes, chalets and caravans, remains closed for repairs. It represents, in itself, a hundred beds and less.

Overall, La Faute-sur-Mer, about 8000 tourists were least expected, on the 35,000 usually greeted each summer. Added to an unfavorable economic situation by traders, these accommodations are destroyed a significant shortfall.

Ile de Re also shows a small decrease

A few dozen kilometers south of La Faute-sur-Mer on the Ile de Ré, the damage from the storm were less important. "The island is absolutely destroyed!", Recalled the manager of a hotel restaurant.A campsite for a works council remains closed this season and the hotel Odalys does not welcome new visitors that from 31 July.

Le Relais Thalasso, also closed after the storm has finally reopened its doors on July 4 instant loan payday no TeleCheck. Four months of work have been necessary for the institution to recover from the flooding that devastated forty rooms. "Today, activity resumed normally," said facility director Didier Gireau. Our forecast for the month of August are in the standard, or even good. We have made efforts to forget the flood and that the center image is not tarnished. "

But many merchants and restaurateurs of the Ile de Ré deplore this was a small decline in attendance.Some highlight the consequences of the storm, others are pointing the finger at the most unfavorable economic environment. "The economic situation is worrying," says director of Ile de Re Tourism, Catherine Senand, refusing to incrimer the storm that left "little effects" on the island. She admits that the season has "started slowly, but expects a better August.

A "moderate" impact on departments

For François Riou, assistant executive Tourist Board Vendée, the impact of Xynthia remains "very moderate". Only 2% of the Vendee coast has been destroyed by the storm, "a tiny fringe" which does not affect his view, the department's tourism season. Facing a crowd at half this year, local tourism professionals are meant to reassuring about their prospects."Only two campsites are closed on the 400 account the Vendee," he recalls.

Even finding across the neighboring department: "After the storm, only 3% of the infrastructure of Charente-Maritime have been affected," said Stephane Villain, president of the Tourism Committee of the department. "The summer looks very good," he says. "The reservation rate is substantially identical to that of 2009 which was a very good year." And we promise to visitors that the hospitality will be at appointment: "People have worked hard to accommodate visitors in very good conditions," says Stephane Villain. They may be even better than usual ".

The image of the region involved

The image of the Atlantic is at stake, as evidenced by the television campaign to promote tourism in the Vendee.Circulated in early June, the commercials were intended to "remind the values of hospitality and tourism" of the department, according to François Riou.

The regions affected by Xynthia therefore trying now to convince visitors that they are again ready to welcome them, with their usual charm and tranquility.

The number of counterfeit euro banknotes declined in the first half of 2010 according to the biannual report of the European Central Bank (ECB). In total, 387,000 false banknotes were withdrawn from circulation, a decline of 13% over the second half of 2009.

The ECB said that "reported to the stock, up, of genuine euro banknotes in circulation (average 13.2 billion in cuts in the first half of 2010), the number of counterfeits is very small." The European institution does not specify whether the counterfeit notes were seized before their release.

Tickets are most affected by counterfeiting are € 20 (41.5%) and 50 euros (42.5%). Almost all (98%) of counterfeit notes seized this semester have been in a member country of the euro area.According to the Central Office for the Suppression of Counterfeiting Currency (OCRFM) quoted by Agence France Presse (AFP), France, Spain and Italy together account for 70% of the counterfeiting of the euro.

The ECB seeks public caution, recalling the method "Touch-Tilt-Watch" called "TRI" to verify the presence of several security features on tickets for the single currency.

The fireworks on July 14, is sacred in many municipalities, but not Mennecy. This town of Essonne is indeed one of the few to have made the choice to give up for budgetary reasons. "This is the third consecutive year that we do not celebrate the national holiday, says Elizabeth Vasseur, deputy mayor. It is a decision we made when we arrived responsibilities. Given the state of public finances, we have chosen to focus on building maintenance, or renovation of two schools being. Because we do not want to raise taxes, "she argues. The savings amounted to ten thousand euros. If people have stayed up Mennecy perhaps no worse the other 364 days of the year, few cities, however, he followed suit.

For the celebrations of July 14 remains a symbolic moment for which the municipalities continue to invest in broadly stable, despite the severity of wind hovering at the national level. In Paris, the budget devoted to one of the biggest fireworks of the Hexagon is constant since 2001. An investment of € 500,000 by July 14 to 30 tons of powder and 30 minute show. "In the current economic climate, we did not want that expense increases, say to the City of Paris. But it seems important to properly celebrate this national event. " Same story in a smaller city, Chalon-sur-Saone (71), where the budget for fireworks is roughly the same from year to year, despite a desire for renewal: "Our budget is constant for 5-6 years, explains Cédric Sementi, responsible for the event.But we chose this year to remove the sound of fire to prolong the duration of the show. " In total, 14 July festivities will be spread over five days in Chalon whole through the operation "Summer Sonatas" paydayloan.

The fireworks, creator of the social bond

Jacques Couturier Organization, which has won this year's market fireworks in the city of Paris, his explanation for this relative constancy: "The fireworks created a social bond that we all need in times crisis, analyzes its founder. Increasingly, we are asked to create fireworks outside the July 14, for example recently at the Championnat de France cyclist Vendee. Especially since the resources allocated to the festivities usually remain small relative to the overall budget of Commons.In Sceaux (92) – which does more than fireworks on July 14 for 10 years, preferring the fires of St. John – the various festivities cost about 200,000 euros to the municipality, with a total budget of 30 million. "This costs in a city hall, which is most likely to suffer from the crisis, are the social or educational expenses," said Philip Lawrence, Mayor of Sceaux.

Among Europe's leading fireworks, Lacroix-Ruggieri, there is however a slight decline in budgets. The amounts invested were stable in 2009, but budgets have contracted by about 5% this year. "All budgets ranges from 2000 euros to 500,000 euros, have been involved," says Jean-Michel Dambielle, Director General Operational Group. And if the national holiday of July 14 is still with us, removal of business tax still worried the bomb."The fiscal autonomy of municipalities will decrease their budgets might be affected, analysis Picard, CEO of Group F, creator of the fireworks in Paris in 2008. Will we still saved? We'll see next year. "

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The CAC 40 increased his earnings to 16 hours. After posting an increase of 0.90% at mid-session, the index rose in Paris now more than 2%, 2.15% exactly 3521 points. Investors have been reassured after the European Central Bank has revised upward its forecast for eurozone growth this year.

The benchmark index of Paris had shown a steady increase at the close Wednesday after three consecutive sessions of decline, thanks to the reassuring remarks from Ben Bernanke, the Fed chief. Other major European markets have also hoisted the green flag.

The finding is similar to other financial markets: the German Dax climbed 1.09% to 6049 points, the Spanish Ibex rose 2.80% to 9117 points, the Milan Stock Exchange gained 1.11% to 19,123 points.Rising British Footsie is more limited: + 0.64% to 5118 points.

Early this morning, Asian stock markets have posted positive counters. The indices are displayed in positive territory while a series of good gives figures of heart from investors.

The euro is ironed beyond $ 1.2.

U.S. growth is reassuring, Ben Bernanke also

Published yesterday, the Fed's Beige Book confirmed an increase in economic activity in the United States without signs of inflation, reinforcing the idea that the Fed is in no hurry to raise interest rates. The Federal Reserve announced it was expecting a GDP of 3.5% for 2010 and "somewhat" more in 2011. In May, the Fed was between 3.4% and 4.5% for 2011.

Its chairman, Ben Bernanke, said he will remain attentive to the evolution "of the situation abroad.His comments are aimed at Europe in turmoil budget. He said however, "reassured by the answers of Europeans," holding that they have developed a "substantial program.

The economic indicators of importance

In France, industrial production in France fell 0.3% in April, but production of the only manufacturing industry continued to grow, according to figures released Thursday CVS-CJO by INSEE.

In Frankfurt, while it is held by the Governing Council, Jean-Claude Trichet, head of the European Central Bank, will deliver the Bank's decision on interest rates to 1% today. A status quo is preferred.

Like every Wednesday, the weekly claims for unemployment benefit in the United States will be published at 14.30. The figures on foreign trade in April will be known at the same time.Then, 20 hours, investors will follow the budget execution figures for the month of May

Japan remains the second largest economy after the United States, while the revised official figures and show a growth of 5% in the first quarter of 2010.

France Telecom, one agrégateurplus a producer

Value-laden France Telecom, which held its annual meeting Tuesday, it appeared necessary to adapt its strategy contained in the competitive environment and has therefore become more assertive as a reader and as a producer, said Wednesday Stéphane Richard, his manager General at the General Assembly cheap pay day loans.

In addition, the telecom authority (Arcep) on Wednesday defended a regulatory context to counterbalance the dominance of France Telecom in the telephony market in France.

The securities yield 0.36% to 15.3 euros.

Air France-KLM: 1,22% + 9,85 eurosSelon information Figaro, Ethiopian Airlines is about to sign an agreement with Star Alliance to join the alliance dominated by Lufthansa. Air France is being shaken to its network and the most profitable.

Total: -1% to 37.73 euros oil group participates in the construction of a solar concentrator 100 megawatts in Abu Dhabi, the largest in the world.

The above shares retreat amid plummeting BP shares, which fell by 15% to the London Stock Exchange on Thursday morning – they dropped 15.8% yesterday on the U.S. markets. In its wake, Technip down 1.3% to 47.25 euros.

Renault: + 3.38% to 30.26 euros change in the financial department head.Thierry Moulonguet will be replaced by the CEO of RCI Banque.

Imerys: + 1.99% to 41.07 euros The Strategic Investment Fund (ISF) announced Wednesday the fall departure of chief executive Gilles Michel, who will join the group of industrial minerals and construction materials, including it should become CEO in 2011, to succeed Gerard Buffière.

French Members Banks, which begin Thursday in open discussion of the draft law regulating banking and finance, also want to discuss with the Government of the German measure to ban naked short selling.

Societe Generale gained 1.28% to 31.15 euros.BNP Paribas, 1.97% to 43.15 euros, Credit Agricole, 2.41% to 8.39 euros.

EADS: + 3.28% to 17.79 euros Eurofighter has launched negotiations with Germany, Spain, Britain and Italy to convince these countries to invest 10 billion euros in next phase of production of its combat aircraft.

Moreover, during the Berlin Air Show, Louis Welsh, the executive chairman said he was "delighted if we could forge a partnership with Embraer, the Brazilian counterpart, said FinanzNachrichten.

The form that could take this partnership has not been specified. In the past, EADS has held a minority stake in Embraer, which he sold in 2007.

The Auchan retail group and its Taiwanese partner Ruentex preparing to list their Chinese activities on the Stock Exchange of Hong Kong.A first for the family business.

Changes in recommendations

Lafarge and Saint-Gobain wins Lafarge 4.03% 48.65% to euro and Saint-Gobain is 4.48% to 31.63 euros. Citigroup raised its recommendation from "hold" to "buy" on the two values.

Vinci: + 1.87% to 37.25 euros ING has started tracking the purchase, with a target price of 44.20 euros.

The Gaza Strip, a narrow sandy strip with about 370 square miles are home to 1.6 million people, is subject to a strict blockade by Israel since its takeover by the Islamist movement Hamas in June 2007, during a coup against the Palestinian Authority of Mahmoud Abbas.

The World Health Organization (WHO) has called last May 18 that Israel end the blockade, in a resolution adopted at the annual meeting of its members. A month earlier, during a visit to the Palestinian enclave, the UN Secretary General Ban Ki-moon had said that the Israeli embargo was "not sustainable".

The last European Commission report on the Gaza Strip, published in March 2009, estimated the damage caused by the blockade on the territory's economy, all economic and social sectors together, to 514.3 million euros.GDP in the Palestinian territories has dropped 5% in 2006 to 3% in 2007 and 2.7% in 2008.

• Unemployment

The unemployment rate stood at 38.6% of the workforce in 2009, according to the Palestinian Bureau of Statistics. It was 37% in 2008, according to the CIA, which places the Gaza Strip in 188th place worldwide in terms of number of unemployed.

• Poverty

70% of the population of Gaza lived below the poverty line in 2009, according to the CIA. UNRWA (UN Relief and Works Agency for Palestine Refugees in the Near East) has estimated that the number of refugees living in extreme poverty in Gaza has tripled since the beginning of the blockade in 2007 of about 100,000 to about 300,000. On the other hand, food insecurity involved 60.5% of households last year, against 56% in 2008, according to the Food and Agriculture Organization (FAO).In its report, the Commission stresses that more than 90% of the population depends on food aid from UN agencies. In February 2009, the UN had launched an appeal for emergency aid for the Gaza Strip, aiming to raise 613 million dollars (479 million euros) from the international community.

• Agriculture and fisheries

According to the report of the European Commission, 46% of farmland in the region were deemed "inaccessible" or where production was interrupted in late June 2009. Agricultural workers accounted for only 7.4% of the workforce in the fourth quarter of 2009, against 12.7% in the second quarter of 2007, according to the Palestinian Bureau of Statistics.The commercial organization Palestine Trade Center (Paltrade) said in a recent report that, without the restrictions imposed on the transport of goods, agricultural exports from the Gaza Strip could represent 2,300 tons of raspberries, 55 million cut flowers and 714 tons cherry tomatoes per year. Fishing has also suffered. Since January 2009, the areas accessible to fishermen were again reduced, to 3 nautical miles offshore. Consequently, the total fish catch has dropped by 47% between 2008 and 2009, according to the Palestinian Ministry of Agriculture.

• Industry, trade and services

According to the report of the organization Paltrade, 95% of 3750 plants in the Gaza Strip have been closed or destroyed, putting some 40,000 unemployed workers (94% of their employees). In 2009, the industrial sector weighed only 5% of the workforce, according to the CIA.Paltrade adds that the 5% of factories still operating in the Palestinian territory that does not rotate between 20 and 50% of their total production capacity. The food industry, for example, has recorded losses of $ 37.1 million in 2009 due to a complete halt to exports. She had only 16 factories last year, against 30 in 2008 and 100 in 2005. Other sectors have been severely affected, particularly the construction, energy, transport and telecommunications. Thus, some 10,000 subscribers have seen their fixed telephone services interrupted, while 330,000 mobile phone users have been affected by these cuts, notes the European Commission.

• Infrastructure

The infrastructure of Gaza has been devastated by lack of materials and construction equipment.A lack which stems directly from the blockade imposed on the territory, "said United Nations Program for Development (UNDP). More than a year after the military operation Cast Lead conducted by the IDF in the Gaza Strip, three-quarters of infrastructure damaged or destroyed are still not rebuilt or rehabilitated, says a UNDP report. The UN program was estimated last year that the cost of damage caused on the roads and bridges in the Gaza Strip rose to 18.6 million euros. His report also highlights that 82.5% of schools are still in ruins.

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New rebound in the case Lagard?re / Wyser-Pratte. Guy Wyser-Pratte, said the activist investor who hold 0.53% stake in Lagardere, has won the support of governance expert RiskMetrics Group (formerly ISS Proxy Advosry Services) in his critique of the structure of the media group.

Support size, because boards of RiskMetrics are followed by institutional investors. But they represent 78.51% of the capital of Lagard?re (50,51% of foreign institutional investors and 20% French).

Rejection of proposals by the management and the board

But on Monday, the general partners and managers of Lagardere SCA voted against the amendment of articles of the company – a company limited by shares to a company – in a proposed resolution before the next general meeting Guy Wyser-Pratte.A decision that is "not surprised" to advise shareholders of the activist. "The opposite would have been more democratic," he quipped.

Last Friday, the group's supervisory board had rejected outright the two main proposals of the Franco-American investor to relax the sponsorship of the Lagard?re group. For now, Arnaud Lagardere, the manager-partner of Lagardere, which holds all powers of decision with 10% of capital payday loans no teletrack. Partnership status allows to use external financing without losing control of the company.

RiskMetrics 'agree' with Wyser-Pratte

Thus, the shareholder advisory firm RiskMetrics looking for arguments Guy Wyser-Pratte: "We agree with his criticism of the sponsorship per share.

"The presence of dissent to the supervisory board of Lagard?re would be beneficial to the long-term shareholder value," she said in a statement. In any case, any election "reflects the intention of the limited partners to adopt a different status," said the company. Verdict on 27 April at the general meeting of shareholders.

On Monday, the shares are granted Lagard?re 0.46%, to 31.51 euros in a market equilibrium.

Wyser-Pratte had accused Mr Lagardere's "mismanagement", accusing him of preferring to "go play tennis in running the company." Arnaud Lagardere leads the group since the death of his father Jean-Luc Lagard?re in 2003.

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"Lagard?re rejects proposals Wyser-Pratte

The words are direct and hard. The supervisory board of Lagard?re did not take tweezers to reject a block all proposals made by the Franco-American investor Guy Wyser-Pratte, whose investment fund has the same name by 0.53% Capital Group since March 25 last. "The Council, meeting April 8, 2010, reviewed these projects and has unanimously decided to issue a negative opinion," said a statement released Friday.

The first application Guy Wyser-Pratte was on its entry to the supervisory board. The Council's primary duty "to express some surprise at the fact that Mr. Wyser-Pratte may wish to participate in one of the organs of governance that it considers anti-democratic and medieval."He then explained that the current composition of the board, whose members are "selected for their competence, experience and moral value" is fully operational and that therefore "the candidacy of Mr. Guy Wyser-Pratte would not add anything more to the smooth functioning "of the latter.

The sponsorship will

Another sore point was the will of Guy Wyser-Pratte to "soften" the operation of the Partnership. The supervisory board initially denounced the contradiction of what the investor who, in the press, does not evoke a simple reduction of the sponsorship but the transformation of the existing company limited by shares (SCA) Lagard?re limited company (SA) No teletrack payday loans.According to counsel, Guy Wyser-Pratte has clearly added: "It is imperative that the sponsorship disappear."

The withdrawal of the prior decision of the general partners would in any way harmful consequences on the management of the group, according to the latter. "It follows that the sponsors might have to look at a general meeting of the draft resolutions without knowing the views of partners and therefore potentially unaware of the outcome."This was rejected, then.

The release of the Supervisory Board ends with a piquant reminder of the "success" under its current operating Lagard?re: "Need I remind you that these initiatives that your group is now leading positions are his worldwide in each of its four branches? ", appeals to the Council.

In exchange, investors do not react to this new episode of Lagard?re / Wyser-Pratte. Around 12:45 pm, the Lagard?re shares are 0.61% to 31.21 euros in a market up 1.14%.

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