GM Says The Fight To EADS

November 10th, 2008 by creditbloggerjsln

In the German Airbus plants, the fear: The fear for thousands of staff jobs, rumours to make the upcoming round of closures. Now the power to the SPD and the threat of Airbus parent EADS: We will not unilaterally job losses accept.
Leipzig - "We as politicians can not the company in its operating business influence. But we will make sure that the corporate restructuring German sites are not disadvantaged," said the economic spokesman of the SPD, Rainer Wend, "Leipziger People newspaper. " The Airbus works council fears that from 5000 to 8000 points in the European aircraft manufacturer in Germany should be deleted. Background, the new head of Airbus parent EADS
, Louis Gallois, in the ways Einsparprogramm and led the reorganization of production.
It is also stronglyspeculation about whether it works in Germany sales will come or relocation to the European locations. Opinions were divided as to whether more tasks to be outside. The German employee representatives suspect a mutual Ausspielen of locations, including Germany. On 20 February, the head of the parent company EADS in Toulouse details of the rehabilitation program "Power 8 announce.
Wend said the bulletin, the new management of EADS daughter, apparently the target of cost by all means to reduce shy and therefore also probably not, just like Boeing's operating divisions auszulagern. "That's why make the employees rightly worried about their jobs," said economic expert. With this strategy would be the outsourced businesses in the future to compete with other competitors. Staff will also supported Oettinger Also leading the Baden-Wuerttemberg Prime Minister Guenther Oettinger (CDU) secured the Airbus employees already support. The state government wanted to the site and the 1300 fighting jobs, he said. Oettinger assured that the production site in Laupheim not endangered. Whether he is in the long run as EADS site was secured, he could not say, because the restructuring of the group has not yet been completed.
To combat the threat of shifting thousands of jobs abroad and site closures feared to protest, the Airbus works council and IG Metall on Friday to protest rallies in several plants called. Laupheim closed at 08.00 clock the start of the four events nationwide.
Airbus was due to wiring problems on the A380 turbulence advised, because it meant that deliveries of large aircraft extremely delayed, with the result of billions of losses. Furthermore, in the next few months, as the production of the new medium-sized long-haul Airbus A350 aircraft between the countries in Airbus.
Ase / dpa / ddp

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Economists Disagree On Growth In Germany

November 10th, 2008 by creditbloggerjsln

How strong the German economy to grow this year? The views of economists differ. Yesterday, the IfW its forecast of 3.2 percent - Other institutes are much more pessimistic.
Hamburg - Leading economists are less optimistic than the Institute for World Economics in Kiel. You do not expect that the gross domestic product this year is more popular than in 2006, writes the "Handelsblatt". Last year in the plus 2.8 percent. ZEW President and a member of the expert Board Wolfgang Franz said, although he expected a continuation of the upswing, "but in the Grßenordnung maximum of 2.5 percent.
DPA
shopping centre (in Hamburg): economic growth as seven years ago? Even Ifo economic expert said Gebhard Flaig, "the dynamic growth is not compared to 2006.
The Kiel Institute for World Economy (IfW), however, believes it is possible that the German economy this year to 3.2 percent could grow so fast
most recently in the boom year of 2000. The Kiel had in the spring of opinions contrary to the majority opinion in the institutions with 3.0 percent growth expected.
your optimism justified it especially with the very favorable early indicators. The two main German sentiment indicators are the Ifo and ZEW index, the barometer slightly less confident Institute. KAZ / dpa-AFX

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Chavez Threatens Banks And Steel Sector Nationalization

November 10th, 2008 by creditbloggerjsln

Bank managers are shocked: Venezuela's President Chavez has threatened the entire banking and steel sector verstaatlichen, companies should be no more "national interests". The fact that he is serious about no one doubts.
Caracas - "This is madness," said a banking manager in Venezuela, the threats. Chavez did not seem to notice the harm he anrichte. The President had asked the banks in Venezuela should focus primarily on the allocation of domestic loans and discard the "national interests". Otherwise, threatening the industry nationalization. The same is true for the steel sector. The steel group Ternium Sidor-needed example for the internal market more produce, is the President. The company belongs to Ternium group, the grßten steel company in Latin America.
DPA
Chavez head of state during the election campaign in November 2006: Company Buys series The threat of Chavez unsettled investors immediately: In New York rutschten the shares of Ternium more than three percent to minus. The fact that Chavez is serious, the least doubt. The head of state has to clear his re-election in February already share purchases by the state control over the major electricity suppliers Electricidad de Caracas and CANTV gained Telekom Group. On May Day over the PDVSA state oil group also operational control over four billion-dollar Ölanlagen in the Orinoco basin, which until now controlled by foreign Ölmultis were. The especially for the poor, Chavez founded popular these steps as part of his "socialism of the 21st century".
is very successful but not yet. Despite the Ölreichtums the South American country lived 2005 after UN figures 37 percent of Venezuelans in poverty bitterster.
Venezuelan Finance Minister Rodrigo Cabezas confirmed yesterday in an interview with the Reuters news agency the decision of his country from the World Bank and the International Monetary Fund (IMF) auszutreten. ASE / Reuters

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"The More There Are, The More Dangerous"

November 10th, 2008 by creditbloggerjsln

Finance Minister Steinbrück global hedge funds will strengthen controls. But how dangerous are they really? Newspaper ONLINE spoke at the start of the G7 meeting with financial expert Dorothea Schäfer of the German Institute for Economic Research (DIW). Newspaper ONLINE: Should we fear before hedge funds? Schaefer: The more hedge funds there are, the more dangerous they are. The problem is that a large part of their money from banks. If they come into a tailspin, they can be the whole financial sector with pull down, and then it crashes throughout the economy. Newspaper ONLINE: equity funds get too much money from banks.
Shepherd: equity funds are completely different controls. For the sake of their safety is clearly defined investment strategy: You may only buy shares. Hedge funds are perfectly free. You can use derivatives, or in currencies started. Even debt, they may make their risky business finance. Newspaper ONLINE: In Germany, hedge funds as locusts known companies buy aussaugen and quickly withdraw. Shepherd: Such hedge fund called private equity funds. The word may Grasshopper I do not. In general, large companies have advantages when a fund with them einsteigt. He brings with equity, will increase our credibility and reduces the risk of insolvency. Newspaper ONLINE: Often the companies but also dismantle…
Shepherd:… which is not always bad. Small units are often more economical than large conglomerates. Behäbigen companies usually do quite well when an agile fund. This increases the efficiency and thus the value of the company. Newspaper ONLINE: Is this only to the detriment of employees?
DER Newspaper
Hedge Fund: Huge money flows
Shepherd: For the employees can adjust the strong constraints mean. Of course, private equity funds also do damage if it is the company to quickly leave. As a rule, but they contribute to value development, and that is for the economy as a whole begrßen. Newspaper ONLINE: Why are hedge funds will be a topic at G7 meetings? Schaefer: The government is not so much about private equity funds. You have more funds and derivatives Monetary Fund in view. It also involves the fund, which strongly in developing countries invest, where the economic situation from one day to the next. These funds are indeed dangerous, because they are donors high risks. More control would do well here.
Newspaper ONLINE: Why do the governments with an agreement so difficult? Schaefer: The hedge fund industry has of course its lobby, especially in the United States and Britain. Nobody can be happy to regulate. Newspaper ONLINE: If you have anything? Shepherd: I think that the G7 slow start with the regulation - though not so strong as Germany wanted. In principle, governments have recognised the problem: In the hedge fund flows every day more and more money, more transparency is therefore urgently needed. The interview was conducted Anselm Waldermann

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Oprah Winfrey Has Around 1.2 Billion Euros

November 6th, 2008 by creditbloggerjsln

The U.S. presenter Oprah Winfrey and the writer JK Rowling is the richest women in the entertainment industry. After the first published ranking of the magazine "Forbes" comes alone Winfrey on a fortune of nearly 1.2 billion euros.
New York - number two on the Forbes list was the British writer JK Rowling, with their six Harry Potter volumes about one billion U.S. dollars (771 million euros) earned. Moderator Martha Stewart, adviser for kitchen and home, attested by 638 million U.S. dollars won third place in the list, followed by Madonna (325 million) and its Canadian colleague, Celine Dion, among other things, its new Las Vegas career a fortune of 250 million U.S. dollars owes.
In the other series are the consequence Popsängerinnen Mariah Carey (225 million) and Janet Jackson (150 million) among the top ten. Julia Roberts has 140 million U.S. dollars, while Jennifer Lopez and Jennifer Aniston rank nine and ten, each with 110 million U.S. dollars.
ersang Britney Spears before her mother and party girl career 100 million U.S. dollars. The deutschstämmige Actress Sandra Bullock has now grown to 85 million, followed by her colleague Cameron Diaz with a capacity of 75 million U.S. dollars. The Brazilian, in New York Supermodel Giselle Bundchen, Sheehan 70 million on catwalks all over the world, and the Australian Hollywood star Nicole Kidman shows with 60 million U.S. dollars Course 19 of Forbes list, followed by their canvas colleague Renee Zellweger with 45 million. Wal / dpa / ddp

Government Expects 21.9 Percent Pension Contribution

November 6th, 2008 by creditbloggerjsln

Verzeifelt tried politics, the increasing ageing of society master. The first step, the Cabinet decided now: The contribution rate for the general pension will be launched next year by 0.4 percentage points increase.
Berlin - That should be the rate for subsequent years are kept stable - and without the use of additional federal funds, was it from the Federal Ministry of Labour.
A spokesman for the Ministry acknowledged that because of the unexpectedly high premium income in theory also an increase of 0.2 percentage points to 19.7 percent in the coming year would suffice. This would then mean that the contribution rate in 2008 more than 19.9 would rise. The Act to increase to 19.9 percent in 2007 must now decide the Bundestag. The approval of the Federal Council is not required.
The measure will not be sufficient to achieve the medium-to long-term needs, this much is already clear. A report published by the "Handelsblatt" that the pension contribution in 2030 to 21.9 percent, only slightly below the statutory maximum mark of 22 percent. The newspaper is to have a draft the Ministry of Social Affairs, in which unpleasant bill is drawn up.
AP
pensioners on a bank: No pension, with 67 of the insurance would contribute to 23 percent Without the proposed increase in the retirement age should be the contribution from the current 19.5 percent even more to be raised in order to safeguard the pensions: 20.7 percent for 2020 and to 23 percent saturated by 2030.
The draft follows, according to the newspaper about these calculations essentially the agreements reached by the coalition round. Thus, the rule age limit for retirement from 2012 to 2029 in stages from 65 to 67 years. Members of the birth year 1947 must therefore work until they are 65 years and one month old. From born in 1964, the 67-year limit. Exceptions are made for employees with 45 years of contributions, which continue without financial loss with 65 years to quit. An exit from the professional life of 63 years is still possible for employees, the 35 years of insurance expertise. However, you must reductions of 14.4 percent accept. ase / dpa-AFX / AFP

Cult Brand Reluctantly

November 6th, 2008 by creditbloggerjsln

From Anselm Waldermann The conventional Tannenzäpfle beer from the Black Forest has in major German cities cult status. In part, the brand doubled its sales there - and that without advertising. Will expand its brewery only their silence. The storm is the Board slow too much.
Hamburg - "The most beautiful country in Germany Gau'n, Badner this is my country." With this verse from the Baden-song begrßt the Rothaus the visitors to its website. "It's so wonderful to look at and rests in God's hands", says the anthem.
DPA
Tannenzäpfle (Special 50th Anniversary Edition): The beer brand is therefore aware of calm. The company sees this as the reason for its success. With the rest, however, it is Rothaus now over. The brewery from the high Black Forest is rapidly growing: A few years ago, it still sold 750,000 hectolitres a year, today there are more than 900,000. And at a time in which a total of fewer and fewer Germans drink beer - since 1991, the nationwide consumption by 20 percent.
Whatany other manager in high spirits would see in Rothaus but with mixed feelings. More and more growth will certainly not go, says Executive Thomas Schäuble: "The kann'sch nit each year." Of course, is Rothaus against a higher sales "not defend," he says. "But we do not push it."
promotions or discounts are available for the brewery therefore taboo. Even advertising the company switches. "We do not want a Fernsehbier," said Schäuble.
Stop the brewery was still unable to grow. Rothaus is long because of the Black Forest is also known, especially in Germany's major cities, the beer cult status. Were there in Berlin 15 years ago just two bars, the Rothaus are served, there are now more than 100 Similarly, in Hamburg, Frankfurt or Munich. In Cologne is Rothaus Pils even at number two for Bitburger aufgestiegen. Spring water from 1000 metres above sea level Around ten percent of their total sales, the brewery sold outside Baden-Wuerttemberg, some of it comes here on annual growth rates of 100 percent. Especially young people are the ones who drink the beer: Exile-Baden, in the stranger preserve a piece of home. "We look forward to each new customer," said Schäuble. "But we must our home market is not negligible."
Rothaus is a remote district of the municipality Grafenhausen, well one hour away from Freiburg. The road, the high here, idyllic winds through pine forests, oncoming traffic motorists rarely encountered. Only now and then a red kurvt beer truck over.
visitor center, the brewery its guests a modern film: crystal clear springs, misty valleys, meadows blooming - the message is clear: Black Forest and Rothaus are easy.
Rothaus is the highest brewery in Germany. 1000 meters above sea level wins its own water from seven sources. Beer connoisseurs praise for his very soft water. The malt comes from the region, the Lake comes from the hops. In addition, a high Rothaus stem seasoning, it was for a beer süddeutsches unusually harsh. "With beer brewing can be a lot of money if you do not make so many silly," said Schäuble. Trend beers with strawberry-kiwi or taste for it would at least not in question. The brewery is part of the state of Baden-Wuerttemberg the brewery was founded in "On the red house" 1791 from the nearby Benedictine monastery of St. Blasien. According to the People's mouth, the monks wanted their beer with the black forests abgewöhnen the brandy beverage. 1806, the brewery in the possession of the Grand Duchy of Baden. As his successor, it now the state of Baden-Wuerttemberg - and is one of the few state-owned enterprises, the profit. Recently, there were 17 million euros, the Rothaus as a dividend transferred to Stuttgart. Grßeren your recent credit, the brewery 1922, investment funds exclusively from the Ersparten.
Two years ago Schäuble - former CDU interior minister in Stuttgart and brother of the Federal Interior Minister - the CEO of the brewery appointed. Critics said was a "supply items" and "black felt." Finally, had the avowed wine drinker has no experience in brewing. Meanwhile, the criticism of recovery. In paragraph which did not cause any debate.
sales hit the brewery is the brand Tannenzäpfle, a Pils from the 0.33-litre bottle. The label emblazoned biederes a Black Forest girl in costume, surrounded by spruce cones. Rothaus fans gave the advertising icon in the name Biergit force - badisch for "beer there." Meanwhile, there are Biergit even real: In last summer was the Schwarzwälderin Christina Berthold officially as "Miss Biergit". Further expansion is excluded Moremarketing failed to Rothaus, however. Thus, the company has the label of the 30 years since Zäpfles not be changed - in the eyes of advertising strategists actually a serious omission. For customers, however, the unaufgeregte appearance: "They believe us because we consistently," said Schäuble. "The people long for home and roots. We offer security in a crazy world has become."
With this philosophy is a further expansion on a grand scale. "Actually we would be ripe for the rise in the Bundesliga," said Schäuble. "Then we would lose our identity." If Rothaus would still continue to grow, there must be a second brewery "somewhere down in the valley" aufmachen, said Schäuble. "Then our image would be broken."
225 people are currently working in Rothaus, often in the second or third generation. The brewery in the region is a popular employer, the company regularly pays 14 monthly salaries, depending on the earnings were sometimes 15th
Onlyfor managers has Schäuble young worries. Not because there are no qualified people there. The problem is rather their wives who refuse to move. "At 1000 metres altitude the weather is just a little rough," he says. And as hear the fun for many but then - for all love to the homeland.

"Then The Euro-zone Explode"

November 6th, 2008 by creditbloggerjsln

From Henrik Müller The euro has increased in recent months strongly, the World-anchor U.S. dollar acts as vulnerable as a long time. The Europeans should still not be schadenfroh, warns Harvard professor Kenneth Rogoff - the euro is much more vulnerable than most aware of.
Hamburg - Despite the fundamental weakness of the U.S. dollar will the euro is not to the new world currency rise, says the Harvard economist Kenneth Rogoff. "These are the uncertainties about the future of the European project is too large." Since the European integration stalled, and important projects like the common constitution would be put on ice, whether the euro burdened by political uncertainties,
said the former chief economist of the International Monetary Fund manager-magazin.de.
David Hills
RogoffReminder: Italy as Wackelkandidat Rogoff warned even before a break-up of the European Monetary Union. "If there is a real world recession, as 1980, the euro zone will explode." He expects that "in ten years, some countries are no longer the euro zone."
As a candidate for Ausscheren from the euro zone called the U.S. economist Heavily countries such as Italy and Portugal. And the Federal Republic has an interest in its own currency, because with lower interest rates they could expect if they do not conflict with traditional soft currency countries such as the Mediterranean countries combined. So far the euro will have a very favourable environment of low inflation works, Rogoff, but he "does not stress test." "Always a political project"
The consequences of failure of the single currency was also not as dramatic as often assumed. The euro was also "always a political project ', while the economic logic behind not so convincing" was. "The purpose of the project was, however, European integration forward. If this political dynamics no longer exist - why the euro down? You will then find that from an economic point of view it not so great idea.

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October 14th, 2008 by creditbloggerjsln

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