Saturday, November 22, 2008
DUBAI, DEUTSCHE BANK AND FRENCH EDF-CGT
I decided, this time, to highlight amongst all the many articles available, this one, BECAUSE, it features, instead, Germany's Deutsche Bank, as well, of course, as the ubiquitous Abraaj.
And, of course, Deutsche Bank has a long, historical Nazi pedigree and lineage.
Indeed, the two names virtually synonymous:
Now, the following has been reported, added to all previous information,
"US Seeks $300 Billion from Gulf" and they give a breakdown:
In turn, calls to utilize the IMF in which all above Gulf entities will invest and further financial bailouts will complete a Fascist cycle of wealth transfer, ownership, control, and reactionary, economic and political bondage:
Anyway, the entire Fascist Obummer regime was put in place to facilitate the above Nazi agenda.
It is so entirely open, blatant and OBVIOUS to anyone with half a brain. They even advertise it, brazenly.
I like to feature at least one protest, resistance or opposition occurring almost everywhere on the globe EXCEPT here, of course.
If one lives here, for the most part, these struggles are NOT mentioned, reported.
Of course, I know the reason why.
So, today, I decided I would highlight two items.
First, a BRIEF current development from Iceland:
And, then, a much longer reprint from an earlier entry I did, May, 2005, excerpted from an article in that ultra Left publication, the WSJ.
Since the WSJ was purchased by Murdoch, it would never feature such an article as that below.
I thought the following excerpt expressed the essence of the issues which intersect and intertwine and I have featured so many times on my blogs.
So, without further ado, here it is:
France, Europe and privatization
Again, from the Wall St. Journal, WSJ, May 10, 2005:
"At French Utility, Union Wages War to Guard Its Perks," subtitled, Plan to Privatize Giant EDF Spotlights a Costly Bloat in Europe's Public Sector. This is a LONG, front page story, from which I will highlight only a small portion.
EDF, Electricite de France, according to the article, is "the world's largest power utility in terms of production capacity." The union, CGT, Confederation Generale du Travail, is "protesting the gov'ts decision to sell as much as 30% of the giant state-owned power utility on the stock market this year....the Communist leaning union commands the allegiance of more than half of EDF's 110,000 French workers and controls the company's social benefits. The council is a vast welfare machine that subsidizes meals, vacations and cultural events for EDF employees, and provides them with free health care--all paid for with a huge budget funded by electricity consumers. EDF employees also enjoy lifetime employment, early retirement, subsidized housing and 90% discounts on their power bills, among other perks...
If EDF is listed on the stock market, the union fears, investors will promptly put an end to them. France's attempt to partially privatize and skinny down EDF over the objections of unions like CGT is a test case for one of the biggest challenges facing Continental Europe: whether it can trim its costly welfare states and shed the structural impediments that have long clogged its economy....In France...the country has 6.4 million public sector workers--more than a quarter of its work force...[EDF's monopoly will end by July 2007]...when France must open 100% of its power market to competition.
Analysts value the company at about $50 billion. EDF's benefits have their roots in the company's unusual history. EDF was created in 1946 as France emerged from Nazi occupation. In an attempt to speed up the country's reconstruction, a coalition gov't headed by de Gaulle nationalized many industries. Marcel Paul, a hero of the French resistance who spent 3 years in a German concentration camp, was named minister of industrial production. At the time, France was dotted with hundreds of small private power companies. Mr. Paul, a mechanic and fervent Communist who had risen to become one of the CGT's leaders before the war, pushed to unify and nationalize the power sector.
In addition to helping the state rebuild the country, he argued, nationalization would take the electric grid away from entrepreneurs who were perceived to have collaborated with the Germans....At company canteens, the CCAS [social benefits council] makes employees pay for their meals proportionately to their earnings. Workers who vacation at the CCAS's holiday spots are greeted by resort managers who relay the CGT's anti-capitalist views. Portraits of Mr. Paul, a revered figure at EDF, hang on the walls of the resorts...EDF also illustrates the trend toward shorter workweeks across Europe. EDF employees can work four eight-hour days, or 32 hours a week, in exchange for 9% pay cuts...the rest of the staff works 35 hours over a five-day work week....Those employees who work 32 hours enjoy nearly three and a half months of annual holiday time, including weekends. The average French worker gets seven weeks of vacation...."
There's more to this article, but, it's simply too long for me to retype entirely. There's one more statistic which I will/can quote from the article. According to the article, "The French state controls 1,447 companies, including a half-dozen giant groups such as postal service La Poste, national railway SNCF, public transportation operator RATP, gas utility Gaz de France, nuclear engineering company Areva, and EDF."