Nicolas Sarkozy wants to extend to "large local governments" the principle of non-replacement of retiring in two applied to the public. According to him, modulate state grants would be "very healthy" to encourage savings.

"We will extend" the policy of non-replacement of staff on two "large to local authorities, who have quite the ability to make the same effort as the state," said the president-candidate in an interview broadcast Tuesday on the magazine's website Actors public.

"This is a very important issue: since 2007, local authorities have created 100,000 jobs, while the state removed 160,000", he said no teletrek payday advance.

Nicolas Sarkozy, however, did not specify which communities that would be affected. Communities that employ the most staff are the major cities, regions and departments.

"The larger communities, which represent two thirds of local expenditures, must make the same effort that the state and they have the opportunity to reorganize, to be more efficient in their ways," Nicolas Sarkozy has insisted.

If the timing of the IPO Facebook is still not known, investors are in turmoil. And gendarmes stock alert. The Securities and Exchange Commission (SEC), the authority of U.S. financial markets, has struck a major blow this week by denouncing irregularities in the market called "pre-IPO" or pre-IPO. She has filed suit Wednesday against SharesPost, a leading specialized platforms in exchange for shares of unlisted companies, like Facebook or Twitter. His main mistake "of having effected transactions in securities without being registered in advance with the regulators as a brokerage." Clearly, the operations were carried out in a strictly regulated market.

Finally, the SEC and the founder of SharesPost, Greg Brogger, reached an agreement. The company must pay a fine of $ 80,000, and its founder will pay $ 20,000 bonus. In addition, SharesPost acquired a brokerage, which allowed him to register with the Financial Industry Regulatory Authority (FINRA), another regulatory body. The SEC announced parallel lawsuits against two managers of private funds – Felix Investments and Free Facie Management Associates – "created solely to acquire shares of Facebook and other Silicon Valley companies, deceiving investors and pocketing commissions unspecified ". The managers of these two companies have sold securities to Facebook prices up to 66 dollars per share, nearly twice the rate at which they had got hold of it, denounces the regulator.  

Gamble "even for sophisticated investors"

"While we applaud innovation in financial markets, new platforms and new products must obey the laws and ensuring fairness and transparency are the basic mark of a good financial regulation", argued a officials of the SEC, Robert Khuzami, said in a statement. This is a very sensitive issue because Facebook is trading on a gray market with a valuation of nearly $ 98 billion! However, in the first approach, the experts were hoping for a stock of Figaro valuation of approximately $ 75 billion. Finally, it should rather be on the order of $ 100 billion, they say.

The issue of pre-IPO market is considerable, at a time when the SEC ensures restore investor confidence. "When you do not trust your neighbors are happy to see that there are police on the streets," said Max Wolff, in charge of research on the secondary market at GreenCrest Capital in New York, in the columns World. SharesPost and SecondMarket platforms are best known on the secondary market. A market that has allowed tens of thousands of wealthy investors to take their share of companies very popular, as were also Zynga or Groupon before their IPO. Caution, however, not to lose feathers, warns Marc Fagel, director of the SEC office in San Francisco, said in the statement: "This secondary market (…) is dangerous even for sophisticated investors."

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From our special correspondent at Austin (USA)

"You are the rock stars of tomorrow." In one sentence, dropped in front of thousands of Web entrepreneurs, Hugh Forrest summarized the spirit of the conference which he is the organizer. The festival South by Southwest (SXSW) has been meeting for twenty-five mid-March in Austin, Texas. In recent years, the conference dedicated to new technologies a huge success. Of "Woodstock for start-ups," where we would meet over a few beers and a barbecue, the event mutated into strategic meeting for start-ups seeking to conquer the world.

The source of this renewed interest, the essential role played by SXSW in takeoff of the stars of today's Web, Twitter to Foursquare via Facebook. The festival is now regarded as the place where the giants are discovering digital future. "The attendance has increased by 20% annually since 2007 with the launch of Twitter," note the organizers of SXSW. Founded in 2006, the startup has benefited, in Austin, the meeting of three factors: the boom of social networks, the emergence of smartphones and the presence of a crowd of fans looking for tools to facilitate the networking. In one week, Twitter has become the sensation of the conference.

Geolocation mobile

The same enthusiasm has propelled mobile location-based service Foursquare on center stage in 2009. The application was very useful for many festival goers, allowing everyone to know where he could find his friends. The efforts of the local team did the rest. "We had T-shirts that offered, chalk with which we had drawn of the pools on the ground before the conference center, on which Dennis Crowley (founder of Foursquare, Ed) invited people to play," is remembers Evan Cohen, general manager of Foursquare and invited the 2012 edition. "We did drive by the organizers because it was against the rules: we were drawing with chalk on the ground next to Ford who had paid to be displayed at the entrance to the conference center! This caught the attention of the press. "

Today, this guerrilla advertising is not enough to drill at SXSW. "You need a plan of attack, we know who wants to meet and be very open," said Hugh Forrest. "You have 8 seconds to convince them," says one contractor, accustomed places. To exist, the hopes of shaping web services tailored to the festival. Newcomer of the Year 2011, discussion of the application bundle GroupMe and had organized a free distribution of toasted sandwiches. The start-up was later acquired by Skype. This year, the application Uber, which usually allows private cars to order with his mobile, offers festival-goers to take delivery of snacks. Foursquare, meanwhile, now publishes specific badges that can be unlocked by those who attend SXSW. But this year, while the opening of the conference was marred by rain, festivalgoers have especially cherished the ponchos provided by Bing, the search engine … Microsoft.

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Adecco France announced Thursday the elimination of 530 positions in France, a total of 6300. This plan of "voluntary departure", which aims to combine the two networks of investment generalists Adia and Adecco Adecco under one brand, will affect agencies and support functions.

It is implementing the strategy of the world leader in the interim, does one relativizes at Adecco France. The process accelerated by the economic environment, aims to "preserve the group's competitiveness in the market for temporary recruitment and generalist." It is not comparable with the 600 job cuts in 2008, due exclusively to the economic crisis, said a spokesman of Adecco France.

The worldwide turnover of Adecco also apparent at 20.5 billion euros in 2011, an increase of 10%, a growth rate also applies to the French subsidiary. And its net income rose 23% to 519 million euros. The placement remained "moderate" but "the general investment, particularly in the industrial sector, continued to drive growth," said CEO Patrick de Maeseneire.

2012 will be "difficult"

Not surprisingly, the economic downturn, however, mark the results of Adecco from the fall. Its turnover has stagnated in the last quarter of its two main markets, the United States (18% of sales with Canada) and France (28%) guaranteed payday loans. In January, revenues fell 9% in the Hexagon, the world leader in precise placement of staff.

"The activity has deteriorated since October. We see a significant drop from December, with a 8.4% drop in interim placements, followed by a similar drop in January. In February and the trend is not good, "says his side Arnaud de la Tour, French trade union president Prism.

The decline is very clear in the automotive industry and also quite strong in construction, two sectors, each representing 20% ​​of the interim in the Hexagon. Agribusiness and aerospace are doing, however, still well. But the year would be "difficult", provides Arnaud de la Tour.

It is however far from the 2008-2009 crisis. The activity had declined sharply by 30%, losing 240,000 full-time equivalents, the worst decline since the trade. And the rise was almost as brutal, the market recovering almost to its previous level in summer 2011.

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What managers should expect in terms of recruitment for 2012? The Apec, which surveyed 11,000 companies on their hiring intentions for this year, said Wednesday that "all frames will not be accommodated in the same boat." It emerges quite clearly in fact a two-tier market: on one hand, firms in sectors with high added value should continue to be dynamic in terms of hiring managers. The other, the companies positioned in sectors more exposed to economic conditions, may have to reduce "strongly" the pace of hiring.

This table lackluster and full of questions led APEC to develop two scenarios for hiring managers: "They are between 164,000 and 195,000 executives say that companies want to hire in 2012, a possible evolution between -10 % and 8% from 2011, "explains Pierre Lamblin, Director of the Research department. In 2011, the market for executives has resulted in 181,000 hires, or 17,000 more than in 2010.

For Marie-Francoise Leflon, president of APEC, "the labor market framework is certainly on the edge, but thanks to some sectors driving, fear of a sudden stall recruitment of cadres, as in 2009 (Note, the fall reached 28%), is not appropriate. " Still, the "victims" of this designated market stress management, may well be young graduates in search of the famous "first job", synonymous with employability.

The premium experienced managers

In times of crisis, companies are playing the card of the experience and rely on profiles having between five and ten years experience. According to statistics of APEC, the graduates are currently 30% looking for work eight months after graduation, with significant variations depending on the chosen course (academics having more difficulty than the class of large schools). In total, the recruitment of young graduates could range from 31,000 and 37,000 this year, down from 2 to 18%, depending on changing circumstances.

What are the sectors that will benefit the recruitment of executives this year? Services should hire between 110,000 and 135,000 executives. In this vast industry, IT and telecoms should remain at the forefront of recruiters, with a forecast of 31,000 executives hired, (more than in 2011), while engineering and R & D could generate 26,000 recruitment and management consulting firms, 11,000.

The good would come as surprise to the industry, often criticized for its closures, relocations and his social plans. "The industry has 17% more of recruitments in 2011 and represents 17% of total recruitment of executives. The sector should remain strong this year because of the rail, aerospace and electrical engineering and electronics, "said Pierre Lamblin. Forecasts of recruitment in this sector in 2012 are between 27,000 and 31,000 executives, against 30,000 in 2011. What about the car? This activity represented 2000 recruitment of executives in 2011, but should not exceed 1500 this year.

Side "carry trades", the tradition is followed with two "engines" of the market that will continue to drain the volume of hires: the commercial and the computer. Together, these functions represent as Apec, between 60,000 and 74,000 recruits this year.

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Yesterday the market was still tune in slow motion. The trade volume has exceeded painfully € 2 billion on the great values ​​of the Paris stock exchange. On this day of "Black Friday" in U.S. markets opened for a half session. This day, like every day after Thanksgiving, sounds the start of the race for Christmas Atlantique.Chasse addition to good affairesAprès six consecutive sessions of sharp declines, few operators present at the Paris Stock Exchange engaged in an intense bargain hunting in financials and cyclicals cash advance.Operators complain German blockages on the tasks of the European Central Bank (ECB). France advocates a more determined it to help countries in trouble. Germany refuses. Sign of the tensions still very strong on sovereign debt, the performance of the Italian debt in two years reached a new peak since the creation of the euro, exceeding 8% in session on the secondary market.

Values ​​to follow

Axa (1.67% to 8.85 euros)

Groupama considered too low prices offered at this stage for its subsidiary Gan Assurances and may delay the sale beyond the end of 2011, reports vendrediLes Echos.

The purpose of the meeting, namely save 12,000 points, was not required. The wait has indeed been the watchword of the early week, prior to the G20 on Thursday and Friday in Cannes, where details should be made on the details of the agreement found in anti-crisis pain last week by the European leaders.The meeting of 20 major economies is also expected to learn more about the country or not willing to provide assistance to the euro area, particularly those that abounded to strengthen the European Financial Stability Fund (EFSF).

From this point of view, the information coming from China will be scrutinized carefully, as the rumor last week gave ready to help the euro area up to 100 billion. Confirmation of this outstretched hand should be seen by investors as an additional guarantee of the remoteness of the risk of contagion of the Greek crisis in the entire euro area cash advance today. Saturday, the credit rating "AAA" of EFSF was confirmed by the three rating agencies, Standard and Poor's, Moody's and Fitch.

Despite the caution expected, the decline is somewhat less pronounced than in other financial centers.If macroeconomic issues set the tone in the markets in recent weeks, the place New York has received quarterly publications of good quality. According to Bloomberg, three-quarters of the S & P 500 so far released their half year exceeded expectations. On average they exceeded analysts' forecasts of 5.8%. What support the stock market rally seen across the Atlantic: September 30, the U.S. benchmark index has awarded nearly 11%.

The dollar advance against the yen, oil decline

The decision of the Japanese government, who spoke Monday on the foreign exchange market to weaken the yen, playing on the foreign exchange market. To 21 hours in Paris, the U.S. dollar rose against the Japanese currency to 78.16 yen against 75.81 yen on Friday night. For its part the European currency rose to 108.98 yen against 107.31 yen Friday.

The challenge? Nothing less than domination of world markets for smartphones and tablets. In this war, patents have become high-tech weapons. "We are committed to defending what is ours," said Tim Cook, Apple's boss, to justify its legal offensive. An argument that still does not convince experts in the field. "This kind of confrontation usually results from financial transactions or licensing agreements," says Marina Cousté, a partner in ReedSmith.

Faced with this new situation, companies are reviewing their strategy. Patent portfolios are now bought at exorbitant prices. Last August, Google has spent 12.5 billion dollars to get their hands on Motorola.A transaction whose main interest is based on the 17,000 patents owned by the mobile manufacturer. Other operation iconic, the acquisition of Nortel's 6000 patent by a group of business settings such as Apple, Microsoft and RIM to $ 4.5 billion. $ 750,000 is the average patent! "Be careful, warns Marina Cousté, the risk of bubble the value of patents should not be dismissed."

Real rents

Patent holders are sitting on a pile of gold. They seek to enhance their capital. This is the case of Kodak, in great difficulty in cameras, which seeks to monetize its patents. There plans to sell a thousand. On Monday, the U.S. announced a licensing agreement with Imax, on 50 patents for the large screen.

Finally, the sale is a licensed real cash for some companies.In France, Technicolor (formerly Thomson) is a national champion figure of the genre. "The business license is an asset firm with a rich portfolio of patents on the technologies of sound and image," argues Technicolor. In total, the license agreements reported 447 million in French in 2010, 12.5% ​​of its turnover. Philips and Sony, the holders of licenses in the field of DVD players, are contrary to dry up this source of income. The Blu-ray could have been an additional resource. But the dematerialization of content paves the way for other families of patents.

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