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Sainsbury’s reports a slight fall in full-year pre-tax profits, despite rising sales, and confirms it is taking full ownership of Sainsbury’s Bank
See the original post here: Sainsbury’s sales up as profits fall
BURLINGTON, NJ–(Marketwired – Apr 23, 2013) – The 2013 U.S. News’ “Best Cars For The Money” award, highlights cars that professional car critics love and are also great values. Lucas Ford in Burlington, NJ couldn’t agree more, as the New Ford Fusion was the clear winner for the “Best Cars For The Money” award and ranked number two overall. TrueCar.com with U.S. News Best Car rankings data proved that after five years of ownership the Ford Fusion is the most cost efficient. The Ford Fusion was introduced to the world in 2006 and now in 2013 Ford is celebrating the Fusion’s first year of second generation Fusions and consumers are loving the new changes as sales have sky rocketed all over the nation in the first quarter of 2013.
Here is the original post: 2013 Ford Fusion Wins U.S. News’ "Best Cars For The Money," Lucas Ford in Burlington, NJ Couldn’t Agree More
Deputy PM says he wants to encourage more owners to sell business on to employees
Nick Clegg will propose tax breaks on bonuses handed out to staff in employee-owned firms as part of an attempt to boost what he calls the “John Lewis economy”.
In a speech to the Employee Ownership Association, the deputy prime minister will outline plans to consult in the summer on “a relief on tax on bonuses paid through benefit trusts, where a significant chunk of the business is owned by employees”.
To qualify it would be necessary for the rewards to go to the whole company and not just those at the top.
It is the first time that Clegg has gone so far as to promise a specific consultation on the issue. He will say: “Employee ownership works because it so neatly aligns incentives and puts the workers at the heart of the business.”
The ideas go beyond the budget commitment to provide £50m capital gains tax relief from next year for a majority shareholder to sell his company to his employees.
Justifying that plan, Clegg will say: “Many owners end up selling to the investor who has the largest chequebook but little regard for the traditions, employees and customers of the firm.
“Others hand the business down to their children even if that isn’t what they or their children really want. What we want to encourage is for more owners to sell the business on to those people who know the business inside out, who will go the extra mile, the wider family who have worked to build it up and contribute to its success – in other words, the employees.”
In the past year there has been a 10% growth in the number of employee-owned firms.
In common with the Tories Francis Maude and Oliver Letwin, Clegg is pushing for a diverse model of companies in the UK, including mutuals in the public sector. He will say: “A diversity of business models in an economy is important because it ensures that not all firms are structured to take short-sighted, gung-ho risks on behalf of others.
“Crucially, employee ownership can drive employee engagement by aligning the incentives of ordinary workers and the business. In practical terms, it means lower absenteeism and lower levels of staff turnover. Across public service mutuals we have seen organisations who have decreased their absenteeism by an average 20% since spin-out. Many companies spend thousands of pounds to come up with quirky ideas to motivate their staff, yet fundamentally it is the structure of their company which fails to align incentives.
“The Cass Business School concluded in 2010 that employee-owned businesses are between nine and 19% more productive than traditionally structured companies. So not only does employee ownership help build a more motivated, more committed workforce, but it improves the bottom line too.”
HOUSTON, TEXAS–(Marketwire – March 27, 2013) - Cub Energy Inc. (“Cub” or the “Company“) (TSX VENTURE:KUB) announces that its subsidiary, KUB-Gas LLC (“KUB-Gas“), in which Cub has a 30% ownership interest, has distributed a dividend in the amount of USD 10 million, out of which Cub has received USD 3 million.
See the article here: Cub Energy Inc.: Receives US$ 3 Million Dividend from KUB-Gas LLC
HEMEL HEMPSTEAD, UNITED KINGDOM–(Marketwire – March 18, 2013) - Haven want to make holiday home ownership easier for new owners or upgrading owners in 2013 by introducing the ‘Beat the VAT’ scheme.
Talks are at an advanced stage between Supporters Direct and representatives of Vladimir Romanov on transferring the ownership of Hearts.
Here is the original post: Advanced talks over Hearts takeover
US cable provider Comcast is to acquire the full ownership of TV and film company NBCUniversal for $16.7bn (£10.7bn).
See the original post here: Comcast to take over NBCUniversal
New Scheduling and Ownership Flows Engage Customers, Drive Transactions
Read more from the original source: Xtime Launches Version 7.0 to Transform the Ownership Lifecycle
Jackie Ashley’s piece on the need for a clear economic alternative (Neither Keynes nor the market will save Labour, 29 October) is both timely and important. Two phrases, in particular, stand out from the essay by Lothian and Unger to which she refers. Describing the poverty of ideas shown by left-leaning politicians these authors say: “The project of the left in the US and Europe has basically been reduced to sugar-coating a reality [austerity measures] that it despairs of re-imagining or reshaping. The humanisation of the inevitable is the leitmotif of their politics.”
In contrast, Lothian and Unger call for a “relatively decentralised and flexible production of non-standardised goods and services, knowledge-intensive labour, the softening of contrasts between supervision and execution, as well as among rigid specialities at the factory or office floor [and] a more thoroughgoing mixture of co-operation and competition”. In other words, commercial and industrial activity should be reshaped around small and medium enterprises employing well-educated, imaginative teams working co-operatively, moving away from big factories with a conveyor-belt approach to producing a fixed range of goods and, in the process, providing only mind-numbingly boring jobs. Government policy should be reformed as to support and promote these changes.
One might add that industrial redesign of this sort was proposed by the Liberal party 40 years ago but was ignored by Labour; is it possible that, after all this time, somebody might listen?
Bedale, North Yorkshire
• Ashley singles out small white-collar enterprises to demonstrate their value to the economic recovery, because she believes they demonstrate “effective” workplace democracy as opposed to the practices of corporate giants. Perhaps she’s had the wool pulled over her eyes by a few small companies that appear as little islands of Owenism, but the reality in the majority of small firms is a culture of long hours, pay on results, acceptance of short-term contracts and hostility to unionisation. It’s akin to jumping back 150 years in labour history. Does she think these “niche companies” offer a way forward for Labour?
• Democratising business makes a lot of sense. But why doesn’t Ashley, or the Labour party, use the “c” word? Co-operatives are the original democratically owned businesses, with one member one vote. If the UK economy as a whole had performed as well as the co-operative sector, we would not be just “coming out of the recession”. While the real level of GDP in the UK in 2011 was 1.7% lower than in 2008, when the financial crisis kicked off, the turnover of the co-operative sector had grown 19.5% over the same period.
This week thousands of people from all over the UK and the world have been in Manchester celebrating the end of the UN’s international year of co-operatives. This business model is just as relevant as when Robert Owen first proposed “villages of co-operation” nearly 200 years ago. We are never going to have a UN international year of Tesco or Walmart – and for a good reason. Co-operatives should be natural territory for Labour. It’s a mystery why they don’t occupy it.
• The clear economic alternative for Labour remains massive Keynesian state spending on infrastructure and the public services, any inflation to be scalped in a tax on increased land values consequent on the increased money supply.This would make the infrastructure, such as Crossrail, self-financing and at the same time stop Keynesian measures setting off house-price bubbles, as Keynes himself should have realised had he taken over his idol Silvio Gesell‘s complete programme instead of dismissing the land-price part as “…of altogether secondary interest”.
• Small companies depend on big businesses and so long as companies like Ford can up sticks, the viability of small enterprise, no matter how innovative, is in doubt. It is not “a sense of ownership” that workers need but the reality. Or, as Labour used to assert, “the common ownership of the means of production, distribution and exchange”.