MBAs remain attractive despite the crisis

 

Times of crisis are double-edged for the MBA. On the one hand, the full-time programs are rubbing their hands, because the lack of economic dynamism, and therefore attractive enough career prospects for managers, strongly encourage them to invest in formal training they will release a When the economy rebounded. Conversely, executive programs, whose participants are mostly still in office, are less likely to see pay for training by their employer.

This year, the situation seems much more mixed. The full-time MBA from HEC shows a decrease of 15% of applications. "This is an effect of the global crisis, and to a lesser extent impact of the circular Guéant who last year restricted the issuance of work visas for some of our international graduates," says the deputy director of the MBA HEC, Bernard Garrette.

Diversity profiles

For its part, Insead has seen the number of candidates to the program full time ten-month increase in proportions which he described as "moderate." Faced with an upsurge in applications, the International MBA from EM Lyon has chosen to preserve a small promotion (thirty people) and has revised upwards its selection criteria.

In both schools, it is recognized that these good figures are also linked to a greater diversity of profiles. If applications from Western European managers tend to settle, they are balanced by a growing interest among Asians, Indians and Latin Americans. The same goes for the European Executive MBA from ESCP Europe. "For the winter semester 2012, our Executive MBA candidates are substantially identical to those of January 2011. Our recruitment is based on our five campuses European balance, including an increase in the number of candidates on Berlin, "says Valerie Madon, program director.

Facilitating employment

The development of strong co-investment between participants and employers may contribute to not fall too in Executive MBA candidates. The young executive MBA from ESC Dijon has even increased its staff this year (18 participants). Service statistics careers in any case seem to agree with those who are engaged in an MBA. At HEC, over 90% of graduates in June 2011 were placed in less than three months.

And opportunities are as interesting as before the crisis. The study TopMBA.com QS Jobs and Salary Trends Report 2011-2012, the salaries of MBA graduates have even increased by 10% in Europe last year. "Companies are definitely more time to recruit to ensure they have found the right profile, but when they found it, they reward the true value," said Joe Li Puma, director of the International MBA from EM Lyon.

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Spaniards against the reform of labor law

 

The Spaniards were present at the call of the unions. In 57 cities, the protests against the reform of the labor market have attracted hundreds of thousands of people. The organizers are talking about 500,000 demonstrators in Madrid and Barcelona to 400,000 – the police has seen ten times less. This first national day of action against the Conservative government of Mariano Rajoy has mobilized in any case beyond the adherents of the two main unions, Comisiones Obreras (CCOO) and Union General de Trabajadores (UGT). Protesters accuse the Executive to facilitate the dismissal and push workers into poverty. Reform, adopted by decree, reduces redundancy of 45 days per year worked to 33. It introduces a new CDI together with a trial period of one year and allows companies struggling to lower wages without consulting their employees.

In Madrid, where union leaders have been leading the parade, the event was festive. In this weekend carnival, some of the protesters came dressed up. Here, a family dressed up as cavemen wearing a sign reading "Go back to prehistory." Here, the character of the albums Where's Waldo? Says "seek democracy."

"Huelga General"

In major Spanish cities, the "critical sections", heirs of the social movement of indignados, have swelled the ranks of workers payday loan. The outrage, however, maintained a safe distance with union leaders. A kind of protest in the event: "Thanks for coming!" They chanted, ironically, to the Union address. For from the adoption of Decree ten days ago, the indignant took the streets of Madrid, without waiting for permission from the prefecture, or call the CCOO and UGT.

The latter is intended primarily rely. "The event this Sunday is only the beginning of the engagement," explains the spokesman for CCOO, Fernando Lezcano, without ruling out a general strike. The "huelga general", thus: in the processions, the claim is almost unanimous.

Mariano Rajoy said the protesters from Seville, where his training, the Popular Party (PP), celebrating its 16th national congress in a triumphalist mood. "Reform is just, good and necessary for Spain," he said. Rajoy announced new "sacrifices", without giving details. Before the elections Andalusian March 25, the head of government is cautious. Even if this bet formula: "It will not be pleasant, but the Spaniards are in agreement."

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"The press needs a solid sales network"

 

The Act of July 5, 2011 amended the Act of April 2, 1947 Bichet governing the distribution of the press in France. The role of the Supreme Council of the Courier press is reinforced. Its decisions can now be enforced by the Regulatory Authority for the distribution of the press, newly created. To the President of the UNDP, which represents 30,000 newsagents, the way is thus open to the implementation of reforms, as the set.

LE FIGARO. – In the context of fierce competition between Presstalis and MLP, that becomes the sales network of the press?

Gerard Proust. – All the attention is currently focused on the situation of e-NMPP and custodians who act as wholesalers, because they structure the distribution of the press. Their business model is affected by the steady decline in sales. Presstalis responds by reforming its organization, but is being weakened by the departure of titles that will be distributed by mail MLP concurrent capable as appropriate to offer better rates. The trustees seek to rehabilitate their missions and resource to the new situation. But that does not detract from the urgency, at least, the situation of press merchants, who provide the relationship between supply of press and public.

Gerard Proust. – What makes you say that you forget to press the merchants?

When we deplore all the time the crisis of the press, and we do not get lost in the competition by explaining that the paper deliver new technology, we forget that it is primarily to closures of points -500 specialty sales per year! – we should lower the diffusion constant. There is no release that can stand well without a strong sales network. But yet we forget! His compensation is still insufficient to attract entrepreneurs and empower them to adapt to consumer expectations. I'm currently reading the proposals presented to the Superior Council, which suggest that the financial resources of the sector, now rare, be directed first to the other players. So I have every reason to fear we think too late to merchants when they are exhausted. I even saw that Stavros Dimas offer some burdens on traders, then we should be to alleviate the primary concern!

What is their situation?

They are not facing a crisis of paper seen by the overall maintenance of our turnover bookstore or card shop subject to the same competition from the Internet-but a crisis of the dispensing apparatus, which supplies the sales network so that it arrives in this double feat: distracting the consumer and discourage the merchant. Be aware: 60% of our supplies come away with unsold (it's more than half of the volumes delivered that do not meet the expectations of customers of the shop, who are squatting in blighted areas and that the merchant who monopolize would be better served to welcome and advise his client) and 20% of gaps in the sale (it's one in five who has not found among his dealer that he had come in search)! What a waste … Thus the turnover flexes for several years, as broadcasters abandon their profession, and that the sector is thereby destabilized the whole, with its greater risk. 

What are your recommendations?

There is no inevitability to the current situation of the press distribution, means rebound there, going through the procurement reform, for better consumer satisfaction, and improved compensation the merchant, to convince entrepreneurs to focus on our business. Must be provided at point of sale assortment of titles that meets customer expectations, we know such identification. This procurement method is practiced by all modern commercial networks, and even to sell the press in some European countries. It has been long and carefully defined and tested by the entire profession, before his deployment is blocked because he got obviously a handful of "editors" whose abuses led to the exhaustion I described the system.

This reform will suffice?

No! Soon, it will take to change the pay conditions of the merchants, always worse off when compared to their European counterparts, but also to other trade business. We must learn to lock onto them, because they are the ones that attract new entrepreneurs at the expense of being a merchant Press. It is they who come to occupy the commercial spaces, often the most prominent, as my colleagues leave vacant. When the publishing community is concerned about the turnaround of its sector, it must file the compensation of its sales network and not a priority, as I fear, a subject that "come after".

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Asian stock markets are diving into the red on Tuesday. As in Europe and on Wall Street, investors are still worried by the problems of sovereign debt hitting the euro area and the United States. France is again threatened by Moody's AAA rating, which places her under surveillance increased and Spain is still attacked on the bond markets, despite the political transition of the weekend.

The disappointment is great after the "super-committee" responsible for the debt of the United States, which announced Monday not to have reached an agreement between left and right. The twelve members of the joint committee were responsible for the deficit of 1200 billion and had until midnight Wednesday to address their recommendations. President Barack Obama assured that the United States were not at risk of default.He said he was determined to keep the pressure on elected officials and threatened to veto any attempt by Congress to mitigate the budget cuts that are now automatically take effect.

Standard & Poor's and Moody's reported that U.S. credit rating would not be affected by the failure of these discussions. But Fitch said it would take by the end of a decision on the consequences of the failure of the "super-committee".

"Big disappointment" expected by Japan

In Japan, the new lock worried. Japanese Minister of Finance, Jun Azumi, fears a "big disappointment" of markets. The negative effect is felt at least on the Tokyo Stock Exchange, which leaves 0.40% to 8314.74 points at closing.

Loss history published Monday by the German manufacturer Q-Cells solar panels, receivership last week to the French pioneer Photowatt, bankruptcy of the American Solyndra, despite a half-billion dollars in loans guaranteed by the Obama administration … The horizon of the PV industry seems to have dimmed in recent weeks.

Last date black cloud, so the results of Q-Cells, which Monday posted a quarterly net loss of EUR 57 million, a quarter of sales, itself down 43% year on year cash advance to savings account. The bad news have plunged the action Q-Cells up to 30% on Monday in Frankfurt. The German company cited "market environment significantly more difficult than expected."

Ghosn's efforts to regain Renault

Came one week in Brazil to announce the expansion of the Renault plant in Curitiba (Parana State) and the creation of a site for Nissan in Resende (Rio de Janeiro), Carlos Ghosn, CEO of both companies, was welcomed as a head of state in his homeland.

Last Saturday, the President of the Republic, Dilma Roussef movement shifted to receive it. "We are very proud of you," she would have slipped to the one she considers the child in the country. He also had dinner in an atmosphere of "friendship" with the two governors of states where the group operates, before signing the agreements in their luxurious palaces. Finally, it was applauded by the workers of Curitiba, massed on the lawn of a sunny site, which he wrote a speech.

Relaxed as ever, we feel in his element."It's good to be true that in Brazil," said the globe-trotting owner, who was about to visit this weekend to his mother and two sisters, who live on site. For him, this country is a paradise full development. Here, as in China, "we prefer to see what will, while in Europe the focus is on what's wrong."

Yet it is this gloomy old continent – particularly in France, where he is idolized as far from Japan, China or Brazil – that he decided to spend more time, "pulling consequences "of the false espionage earlier this year.

For many, this fiasco was proof that the owner of two companies whose headquarters are located 10,000 kilometers away, was disconnected from the reality of Renault.Many employees, union representatives, but also members of the government, which accused him of favor at the expense of Renault Nissan, having sought to speed up the relocation.

"Today I am more present in France," he says, whereas previously the Hexagon was only 35% to 40% of its schedule. Nissan is going at full speed in China or the United States, Carlos Ghosn promised then to look at the head of Renault, less efficient no fax pay day loans. Japanese sales are expected to double according to him between 1999 and 2011, reaching 4.8 million units, while those of Renault have increased marginally over the period (2.6 million last year). Goal back on track in Europe, where sales of the group fell by 10.6% over the first 8 months of the year.But also boost the image of a registered design banal and lacking in high-end models.

One patron

"Pragmatic," Carlos Ghosn admits he made mistakes. "I was probably too delegate and I paid the consequences," he admits. "One of the problems at Renault, is that people felt that there were two bosses. There must be only one boss, and that's me, "he insists. As a result, the CEO, for whom the "management of Renault changed," "regained control of a number of operations" as the high end, human resources, communication or the ethics committee . He also concedes that the crisis has had under "to clean up relations" with the state (which holds 15% stake) and make the company "more mature".

Be present at the headquarters of Renault and be first in line, that is precisely what the CEO had promised, after the reorganization of the group in late May, which had weighed heavily on the government. Paying for his handling of the "case", Patrick Pelata, Renault's number two, had been set aside in favor of Carlos Tavares.

Mechanically, the scope of responsibility of Carlos Tavares, his number two has narrowed compared to that of his predecessor. "It has fewer powers," but of "autonomy in what remains," said Carlos Ghosn.

The question is whether the iconic CEO will honor its commitments over time. One thing is certain, it is restore the image of the diamond brand in Europe find it in France a strong credit started this winter.

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Wall Street should once again move

The U.S. stock market should open up again on Tuesday. Future of Standard & Poor's 500 and Nasdaq 100 advance at 1.35% to 1174 points and 2255 points to 1.33%. Monday, Wall Street had already finished in the green.

Since the beginning of the week, investors in Europe and the United States, is won over by a wave of optimism about the outcome of the crisis of sovereign debt. "The beginning of the week is placed under the sign of hope. Investors have decided to give credit to European policy makers and international willingness to find ways to resolve the sovereign debt crisis, "economists observe in Paris broker Aurel BGC. There are "high hopes that one is engaged in the right direction towards resolving the debt crisis in Europe," say experts on their side LBBW.Other analysts, however, want to caution. The strategists of the Crédit Mutuel-CIC believe that "the improvement should not last as rumors seem exaggerated. The expansion of EFSF does not solve the structural problems in Europe, while the challenge is there. "

The spokesperson of European Commissioner for Economic Affairs Olli Rehn, Europe is considering strengthening the capacity of the European support fund for countries in trouble (EFSF). Rumors press also reported a proposed quadrupling of the Fund's lending capacity to 2000 billion euros. In turn, an official of the ECB, the Austrian Ewald Nowotny, did not rule out declines in interest rates in the euro area.But soon, the German Finance Minister Wolfgang Schäuble assured that Europeans had "no intention of bailing out" the EFSF.

Political leaders are still clearly divided on the responses to the debt crisis, while discussions on the payment of a new international loan to Greece, vital to enable it to avoid bankruptcy dragged on. At the same time discontent rises and Athens was again paralyzed Tuesday by a wave of strikes in public transport.

The euro relapse

The euro was weakening on Tuesday to below $ 1.35. Mileu in the day, the euro stood at 1.3496 dollars, against 1.3523 dollars late Monday.He had fallen in session Monday to 1.3363 dollars, its lowest level since mid-January, prior to recover.

As for commodities, gold has recovered slightly this morning at 1640 dollars an ounce after declining over the last three sessions. Oil falls sharply higher this morning in Asian trade after having dropped more than eight dollars last week. A barrel of "light sweet crude" for delivery in November gained 1 high quality business cards.15 dollars to 81.39 dollars in early trade, having closed up 39 cents Monday.A barrel of Brent North Sea crude for November delivery, which ended virtually unchanged Monday (-3 cents), advances, meanwhile, 95 cents to 104.89 dollars.

On the macroeconomic front, investors will monitor the housing price index calculated by S & P / Case-Shiller in the 20 largest cities in the United States, the index of consumer confidence and the Conference Board index of manufacturing activity in the Richmond Fed.

As for values ​​to be followed on Tuesday:

As for values, Goldman Sachs will intensify its restructuring efforts, after a disastrous third quarter, which could be one of the worst ever recorded by the U.S. investment bank since it went public 12 years ago, says the New York Times.Goldman Sachs will be 1.2 billion to $ 1.45 billion savings goal of operation by mid-2012, the paper said on its website, citing unnamed people familiar with the matter.

The mysterious tablet that the online retailer Amazon.com Wednesday could present promises to be a star among the products' high-tech "of the season, even though the Seattle group has not yet revealed existence.Amazon Wednesday invited reporters to an event which he kept secret the subject, organized in a video production and music in Hell's Kitchen neighborhood of Manhattan.

Motorola Solutions is within the scope of an investigation by U.S. authorities, according to the Wall Street Journal, concerning a possible corruption in the course of its business in Europe.

The Anglo-Australian mining giant Rio Tinto, listed on Wall Street, announced Tuesday it had increased to 49% its stake in Canada's Ivanhoe Mines, the upper limit is included in an agreement between the two groups that intend to operate an entire mine copper and gold in Mongolia.

ONEOK announced expect to achieve a net profit of between 355 and 400 million in 2012, against 325 to 345,000,000 dollars in 2011.For its part, ONEOK Partners expects a net 740 to $ 800 million for the year 2012 against 630 to 660,000,000 for the year 2011, while natural gas volumes processed are expected to increase more than expected.

Also note, Standard & Poor's is within the scope of an investigation by the SEC, the U.S. stock market regulator, who questioned its rating of an issue of structured securities in 2007 just before the market collapse real estate, announced its parent company McGraw-Hill.

Bid rates on bank books

The French, who have cash to invest are spoiled for choice. Since early September, the war of books has flared up: banks, especially those dedicated to the Internet, engaging in a battle of promotional offers to attract home savers' deposits. They need the cash to finance themselves with it.

Some institutions are content, as in the past, offering a promotional rate of 4.5% or 5% (3 to 3.3% after tax) for two or three months for the opening of a new booklet . The good thing is short lived as the remuneration then falls to 1.75% or 2%. This string – display a high rate for a short time – is well known to subscribers.

Other institutions so attempting to stand out by offering lower rates, but longer guaranteed.This is for example the strategy of Cortal Consors (BNP Paribas), initiated by the summer. The property offers on new books 3.25% gross, but for 12 months (up to fifty million). Another subsidiary of BNP Paribas, Cetelem, also puts forward a savings account strictly identical conditions.

Rates guaranteed for one year

A fixed fee for one year is attractive for investors tired of "doing bounty hunting", that is to say, to transfer their capital from one institution to another and from one book to another, to take advantage of new offers short term personal loans. Other institutions are on the same register, even more cleverly. BforBank, a subsidiary of Credit Agricole, has revived some of its customers by promising 3% guaranteed, again for a year.But unlike other promotional offers reserved for the opening of a new book (or new installments of a book already exists), BforBank promises to serve this rate on any outstanding, that is to say also to amounts already invested in the booklet provided only "activate" the promotional offer.

That all customers BforBank not rejoice too quickly! The promotion was targeted: only those whose libretto is not too BforBank garni – and do not cost too much in interest to the bank – received the proposal. BforBank wishes to draw the subscriptions, but not at any price ….

The war is won booklets also in the field of customer segmentation. Like passengers on a plane, none of which paid for his ticket at the same price, investors who subscribed have the same book – a few months later – at all the same pay.Those who wanted to transfer their money have sometimes been offered to extend more interesting than those who leave the bed.

And those who have transferred their capital elsewhere without closing the book are offered more attractive rates for recharging …

Park the car with his phone

This is one of the innovations that made the most about her at the Frankfurt Motor Show. The French supplier Valeo has developed a system, called Park4U Remote, which allows to park your car while remaining outside it, with his mobile phone.

The application detects the parking spot, then maneuver the car away, receding, Braque, braking, forward and contrebraque any one until it is completely parked. The Utisa has to keep its finger on the smartphone to make the whole operation.

To stop everything, just lift the index. Interest: fit into small spaces on the street or parking lot, between two poles, without damaging the vehicle. To leave, you can also get the car out of the slot with his phone, if the door opening is made difficult by the narrowness of the place.No release date is currently indicated by Valeo, which currently markets a parking assist system semi-automatically.

One thing is certain, if this product becomes public, be flying his phone will become more annoying than ever.

Automotive: car pulls herself

Player Figaro BFM

Euro: Sarkozy is expected to speak this afternoon

Nicolas Sarkozy could be expressed in the late afternoon, after his meeting with Herman Von Rompuy, confirmed Tuesday morning in his entourage Figaro. It would only be a few minutes of intervention, on the steps of the Elysée with President of the European Council. "Nothing is confirmed yet," says one, however. "It will also depend on market developments in the day," says an adviser.

While a government source announced the "initiatives" to support Franco-German Greece to face serious funding problems of its debt, the Elysee Palace denied."There will be no Franco-German initiative today," said the president requested by the AFP, saying also that no decision had been made about a possible speaking of Nicolas Sarkozy to Following his meeting scheduled at 17 am (Paris time) with the President of the European Union Herman Van Rompuy.

The Elysee was also opposed to a very firm denied rumors that a scenario out of Greece to the euro would be discussed at the Elysee. We emphasized above all the character "drama" of this to the Greeks themselves, but also for the euro area.

"To ensure compliance with the commitments of the July 21"

"This is not a desirable solution, we do nothing to make it desirable," confided a senior official Monday night Elysian following folder every minute."We try to be consistent: we are about to present to Parliament the rescue plan that was decided on 21 July in Brussels. We do not prepare in the wings is another scenario that would offer the exact opposite, "he continues.

The state still remains fragile in which finances are Greek, "We try to convince them to do everything to achieve compliance with the commitments of July 21," says this source. Tuesday evening, the Head of State may wish to print this message in a clear and solemn.