"The decree will be issued next week, setting out conditions that will make handing out stock options or bonuses to companies that have benefited from state help illegal," Claude Gueant told France 24, a television station.
French workers' anger has been growing as more companies have announced job cuts while executives get bonuses.
Employees at a French 3M factory held a manager hostage for more than 24 hours Wednesday and Thursday over a dispute about terms for laid-off staff.
Earlier this month the boss of Sony France was held overnight before workers freed him after he agreed to reopen talks on compensation when the factory closed.
Sunday, March 29, 2009
Wednesday, March 25, 2009
Durrat Marina a big draw at Cannes real estate summit
Durrat Marina, took part in the world's premier real estate summit (MIPIM), in Cannes, France, where its stand attracted high numbers of visitors, potential-buyers, investors and sector decision-makers.
Durrat CEO Waleed Ishaq Saffy represented the company at the exhibition, considering it an 'opportunity' to reassure investors about the sector in Bahrain and the Gulf. He said that the progress in the project is on schedule.
Mr Saffy added: "MIPIM is a renowned exhibition that attracts investors, exhibitors and decision-makers from around the world. Taking part in the exhibition provides the opportunity to meet all these people and introduce the elite Durrat Marina project to them."
As the world's premier real estate summit, MIPIM draws upon its unique international coverage and reputation to bring together the most influential decision-makers in the market, offering them access to the largest available showcase of development projects.
Durrat CEO Waleed Ishaq Saffy represented the company at the exhibition, considering it an 'opportunity' to reassure investors about the sector in Bahrain and the Gulf. He said that the progress in the project is on schedule.
Mr Saffy added: "MIPIM is a renowned exhibition that attracts investors, exhibitors and decision-makers from around the world. Taking part in the exhibition provides the opportunity to meet all these people and introduce the elite Durrat Marina project to them."
As the world's premier real estate summit, MIPIM draws upon its unique international coverage and reputation to bring together the most influential decision-makers in the market, offering them access to the largest available showcase of development projects.
Monday, March 23, 2009
A French Revival of Home-Equity Deals
PARIS -- Madeleine Schlosser needed more cash, so last year, at age 82, she sold her Paris home.
That may sound like a risky decision. But the sale terms allow Ms. Schlosser to live in her apartment until she dies. The two buyers paid her 18% of the property's market value up front, and now pay her a monthly pension. With the money, Ms. Schlosser has financed costly dental work and says she can "live more properly."
The buyers will eventually take possession of an apartment for which they paid less than the market price -- unless Ms. Schlosser lives for many more years.
This kind of real-estate transaction has long existed in Europe, particularly in Italy and France. While Americans can remortgage their homes at market value to access their wealth, this can't easily be done in countries such as France. Recently, such transactions have experienced a revival: As longer life spans put pressure on national pension systems, people wonder whether they'll be able to make ends meet for the rest of their lives.
That may sound like a risky decision. But the sale terms allow Ms. Schlosser to live in her apartment until she dies. The two buyers paid her 18% of the property's market value up front, and now pay her a monthly pension. With the money, Ms. Schlosser has financed costly dental work and says she can "live more properly."
The buyers will eventually take possession of an apartment for which they paid less than the market price -- unless Ms. Schlosser lives for many more years.
This kind of real-estate transaction has long existed in Europe, particularly in Italy and France. While Americans can remortgage their homes at market value to access their wealth, this can't easily be done in countries such as France. Recently, such transactions have experienced a revival: As longer life spans put pressure on national pension systems, people wonder whether they'll be able to make ends meet for the rest of their lives.
Saturday, March 21, 2009
Historic Parisian hotel offered for sale
When France's first culture minister, André Malraux, stepped in in 1965 to preserve the elegant 15th-to-18th-century architecture of the Marais, the dilapidated neighborhood was on the brink of being bulldozed by property developers.
But at least one of its celebrated mansions, the Hôtel des Ambassadeurs de Hollande, had already found its savior in the colorful figure of Paul-Louis Weiller.
Mr. Weiller was a World War I French aviation hero, founder of several airlines that eventually became Air France and successful industrialist and financier. He also had a passion for rare books and real estate. The mansion, a sumptuous but deteriorating, architectural gem listed as a national landmark in 1924, proved to be irresistible.
He bought it in 1951 and, with the advice of Gerald Van der Kemp, chief curator of the Château de Versailles, set about its restoration.
But at least one of its celebrated mansions, the Hôtel des Ambassadeurs de Hollande, had already found its savior in the colorful figure of Paul-Louis Weiller.
Mr. Weiller was a World War I French aviation hero, founder of several airlines that eventually became Air France and successful industrialist and financier. He also had a passion for rare books and real estate. The mansion, a sumptuous but deteriorating, architectural gem listed as a national landmark in 1924, proved to be irresistible.
He bought it in 1951 and, with the advice of Gerald Van der Kemp, chief curator of the Château de Versailles, set about its restoration.
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