At Bercy to ensure that the story proceed harmoniously

The impossible no one is required. In pulling an agreement in Brussels to give Alstom a viable area despite significant assignments, Nicolas Sarkozy walk in the footsteps of an illustrious predecessor. His arm of "victorious" iron with Mario Monti is similar to that between, five years ago, Dominique Strauss-Kahn to Karel van Miert about Crédit Lyonnais. But, as subsequent events showed, the Bank, temporarily saved, could not consider his long-term future that in supporting a group rich and solvent. If Alstom is based on case in the short term, the imbalance of its balance sheet and Bank sureties problems remain. Banks, reassured by the approval of the plan can be understanding for some time but Alstom has need of more to remain a viable set duration. The battle that won Nicolas Sarkozy and with it, all those who were opposed to a pure dismantling and simple not will result in victory, when the manufacturer of TGV and turbines will incorporate a group providing the financial means him missing. This "agricultural industry credit" exists, it is called Areva. At Bercy to ensure that the story proceed harmoniously.

Economy flight

Should we change tactics earning First European to be privatised company, British Airways has always been one of the most energetic and reactive in the lower costs. It must in this tradition and this experience of having crossed the last crisis in air transport by limiting the damage. Its annual results illustrate, with lightweight lower revenues and better operating income than expected by the City, all on bottom of cuts in investment and debt reduction. Model may affect its limits. The senses of the economy up to cover less than half of its fuel consumption, it is risky to soaring oil prices. Especially if labour costs has restored the profitability on the North Atlantic and other long distance flights, BA in Europe traffic remains stubbornly in the red, sign that he has found step response to pressure from the "low-costs", very strong on this space. In the eyes of investors, the British company had lately an advantage critical to not wear the operational risk of an amalgamation such as Air France and KLM which outweighed the disadvantage of limited growth and a lack of size. The question that rises is: when will the report be reversed

Image effects

Everything which is not prohibited is not necessarily recommended. When it took the direction of a giant on the precipice to "save the image of the place of Paris", there are things which are not. The arrival of Jean-René Fourtou had put an end to the financial crisis which threatened to smother Vivendi Universal. The strategy conducted by the new management, kicked of disposals and acquisitions, returned to the group a viable financial stature and an enviable perimeter. Come in almost volunteer firefighter, the ex-patron of Aventis had nevertheless benefited rapidly increases in wages and millions of stock options were not unlike his flamboyant predecessor, Jean-Marie Messier practices. The improvement of the situation of light and its course of stock recovery however was likely to raise the indulgence of the minority shareholders. On learning that the new CEO and his family benefited from emission of ORA at prices discounted for invest heavily, some to move properly. Even if the letter of the law has been respected, it is clear that the spirit there is no account. With another of the lessons of the J2M episode have not forgotten always obliged to shareholders, stick to the lean regime, it is that must never neglect the side effects of violations of the image.