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Surfing the good performance of its JT 20 hours, and conjure the poor performance of its "prime time". On this puzzle board for several weeks France 2. In the head of France Televisions group of strategists like Bertrand Mosca (the deputy director for programs), or Emma Guilbart (Deputy Director for Programs), the idea of ​​mixing in a single program time slot of 19 hours 20 hours 30 is gone far enough. However, the project is not yet mature enough for the start of 2011.

However, the chain does not refine the draft for September 2012, after the presidential election. The project draws heavily on the model of Canal + and its "Grand Journal", installed several years.Original concept in France, it is more usual in the Anglo-Saxon fond of this mix between information and entertainment, in other words, professional jargon, "infotainment". The "Grand Journal" shows at least an average audience share of 6.9% with peaks up to 14% as on March 25 and works miracles on the target of AB +, the fact that the leaves more seduced by JT France 2.

Invent other appointments

If France 2 JT is resistant to the fragmentation of audiences, however, its slice of prime-time suffers and is only 12% audience share, significantly below the average of the chain oscillates around 15%. For its part, the newscast is led by David Pujadas stable from year to year, with 20% audience share.

One of the weekend hosted by Lawrence Delahousse attracts more viewers between the first quarter since 2010 and that of 2011, they rose from 4.8 to 5.3 million. A feat for a historical chain. 2 France intends to surf the large image regilded clearinghouse cash till payday. But the group also made this observation: the consumption of information is changing. The offer of helping DTT, viewers are used to consume the news continuously on free channels like BFMTV or i-Tele. This means that the time of High Mass will be gone one day and he must invent other appointments.

A tricky business

But the leaders of France Televisions, the matter is delicate. Chairman, Remy Pflimlin intends to preserve the hearing of the "19/20" on France 3, a strength of a chain fall.Time, the possibility of reversing the brackets national and regional information was discussed. But not retained. Moreover, it is not certain that advertising terms, divest itself of the household under 50 years to be interested only in the target smaller senior is a good deal. In addition, the project has stumbled on the name of the presenter: Should we extend the empire of David Pujadas or encouraging the development of Laurent Delahousse? The sounds on the latter's departure for TF1 would have served and contributed to freeze the record. Finally, all this is the fact that France 2 has become the standard for information and even as regards the political debate. The chain is trying to preempt an image that previously clung instead to TF1, "says a boss of a competing network.One year after the presidential elections, France Televisions would rather not take chances.

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Renault's number two is the cost of false espionage. According to Reuters, citing a source close to Renault, Patrick Pelata, chief operating officer, had submitted his resignation which was accepted. The Board extraordinataire held this afternoon would not result, however, starting with the Group CEO, Carlos Ghosn, according to Minister of Industry, Eric Besson. "This is not, I think, what the audit recommends," he said, referring to the report intended to clarify the reasons for the fiasco of false espionage affair

"The audit concludes that four people should be punished," said Industry Minister Eric Besson sidelines of a meeting at Bercy, without naming names. "I do not have to throw names into pasture. The board of directors and not the state that decides (…) and our role is not to say this or that person is responsible. "

Renault said it would not release its findings before the close of trading, to 17.30.

"Serious malfunctions"

Other leaders are particularly vulnerable as Remi Loincloth, safety director at Renault. His office conducted the internal investigation that led to the dismissal wrongly frames. Christian Husson, legal director of the group, is also on the frontline saving account pay day loan. The Sunday newspaper also quotes the HR executive officer, Jean-Yves Coudriou.

Directed by a firm controlled by the external audit committee of Renault, the report was requested by the management group in mid-March. He points "clearly" in "serious malfunctions" in the group's management and called the guilty, also said Eric Besson."I instructed (two, ed) State representatives on the board of Renault support the recommendations of the audit committee, said, meanwhile, the Economy Minister, Christine Lagarde.

The question of money paid for pain and suffering to the three executives wrongfully dismissed for espionage should also be discussed. In total, Renault might have to pay 11 million euros. Eric Besson, Renault will pay the bill and "it would be logical" that its leaders are contributing, but it should not be "astronomical sums".

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President Barack Obama embarked on a race against time to avoid the paralysis of the U.S. federal government. Democrats and Republicans must find a consensus to approve the budget of the federal state by the end of the day, before the U.S. debt ceiling will die regulation. The deadline is set for midnight on Friday (6am Saturday, Paris time). If no agreement is reached by then, some government services could be closed.But after four games in three days, the Speaker of the House of Representatives, Republican John Boehner and and the leader of the Democratic majority in the Senate, Harry Reid reported that their views were closer but the gaps were not yet fully lifted.

The President of the United States wants, however, confident and indicates that both sides have "made some further progress" before adding: "I hope we can announce to the Americans early enough that we have escaped paralysis and that An agreement has been concluded. "There is nothing certain yet. But I expect a reply earlier in the day, "he added.

Possible suspension of salaries of 800,000 employees

Lack of funds, some financial services will be frozen and "non-essential" of Admnistration closed.This could involve at least 800,000 employees, whose salaries would be suspended. The pay of part of the military could also be postponed. U.S. Secretary of Defense Robert Gates made clear Thursday hinted during a visit to the U.S. base at Camp Liberty near Baghdad, the issue of pay to 2.3 million military personnel may be suspended. "If the paralysis of government begins 8 (Friday) and lasts one week, you'll pay half. If this goes on until 30, you do not balance at the end of the month, "he told them, adding that any arrears of wages they would then be paid. The U.S. military receive their pay on the 15th and 30th days of the month.

Moreover, national parks will close, visas are not issued and the tax forms being processed.

Major disagreement

The disagreement between Republicans and Democrats remains essential. The former want to drastic budget cuts of at least $ 61 billion, while the Obama camp defends more flexibility to allow the economy to catch his breath. The Republicans hold the majority in Congress, giving them the opportunity to vote on a provisional budget law.

Treasury Secretary Timothy Geithner had announced few days ago that the legal limit of debt would be reached on May 16 at the latest, asking Congress to raise the ceiling.

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Operation Phoenix run out of steam it? Launched in 2006 by PriceWaterhouseCoopers (PWC), this initiative aims to integrate literature in the business world. Students holding a Master 2 in Humanities from ten universities in Ile de France are recruited on permanent contracts at a frame by one of ten major companies participating in the operation. They become consultants, client advisors, communication officers, auditors … And parallelled training of nine months as part of a professional contract in alternation, at the University Paris-IV.Always highly publicized, this operation is currently in its infancy: only 120 graduates were recruited in four years.

If PWC and Societe Generale, the two main engines of the project, recruited more than a dozen each year, companies like Coca-Cola, Eiffage, Danone, L'Oreal, HSBC offer mostly only one to three positions. Operation Phoenix seems so similar to a good transaction communications, recognizes one of the participants, crestfallen. For now, it merely seeks the Isle of France. An attempt to bring about a similar initiative in the universities of Lyon failed.

At the annual forum held this week at the Cité Internationale in Paris on the eve of the recruitment campaign for the fall 2011 (www.opérationphenix.fr), students met oscillate between hope and disappointment.History student in Paris-I, Astrid was destined to teach as many young people enrolled in humanities courses but seeks "a way out." "The recruitment is extremely selective. One has the impression that they want the crème de la crème. They are also extending studies: in addition to my BA + 5, I would have done a year alternately, then another six months of house training before working, it's worth thinking about. "

True conversion

Anne-Sophie, who has just presented the aggregation of English after his master is determined at the Sorbonne. "I enjoyed teaching at the university but it is very difficult. So I am considering a switch in trade or human resources, "she says. The few jobs available this year, thirty, does not frighten him: "I'm used to competition."On the corporate side, it explains the lack of open positions by the weakness of student applications. Each year, they receive only 300 to 450 hp in this transaction. The excellent level of English required at some tests put off. Their knowledge of the business is often short. There is also a genuine conversion to students who aspired to enter the departure rather in the public service. "We're trying to change attitudes but it is not easy," says Bernard Deforge, the coordinator for PWC.

Some teachers continue to boycott the operation, sometimes called "window dressing" or "capitalist propaganda"! "For some, it seems that heaven is academia.Yet we know that this is a can of worms, as everywhere, "observes this iconoclast who, along with a career as a professor of Greek at the University of Caen has worked as an auditor with PWC. It will double the number of recruits by 2012 to bring together, little by little, these media which ignore and "finally do the quantitative". In Britain, he recalls, the humanities are the heart of the formation of many brilliant managers, without this gene person.

Italian masters student at Paris III, Sebastian believes that prejudice is far from dead: "We have to fight three times as a student out of school," he says.During a summer job at HSBC, its literary bin earned him disparaging remarks from the hierarchy of the bank branch where he worked: "Given your background in literature, one can not expect much you, "he had heard by way of welcome. "I was super motivated. And they had to recognize that the end was very effective, to their amazement. They even told me I had the advantage of the curiosity and enthusiasm, in comparison with young people from business schools, often more jaded and formatted. "

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The Galeries Lafayette is growing by 8% in 2010, retail sales taxes of up to 5.47 billion euros (consolidated turnover exclusive of tax, which excludes sales at concession stands, 4.9 billion euros). The group posted a trading profit of 354.8 million euros (+8.3%).

The prize amounts to the performance flagship Parisian boulevard Haussmann: the biggest store in the world has seen its revenue jump 24% last year, thanks to a rise in tourist numbers. Institutions province grew by 5%. In total, the company achieves a turnover of 2.8 billion euros (+12%).

In difficulty for several years, BHV (489 payday loans for self employed.5 million euros) reverse the trend.Deco chain rose 2.9%, the historic store on Rue de Rivoli by 3.1%.

Monoprix, owned half by the Galeries Lafayette (at par with Casino), saw its business grow by 4.6%, supported by a policy of expansion, including Monoprix and Naturalia. On a comparable basis, growth reached 2.5% thanks to a healthy range of foods. Finally the brand of watches Louis Pion grew by 4.8%.

"In the first quarter of 2011, the group's business continues to grow actively," says Houze Phlippe, CEO.

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Few would have bet, when it was launched five years ago in France on the future of sarenza.com specialist shoe on the Internet, a product that tries before prior to purchase. Not only does the site still exists, but it now employs a hundred employees and has a turnover of 80 million euros. "It worked because it was put in place people, says Stéphane Treppoz. As they could not try the shoe immediately as in a store, he had to find a way to eliminate this risk. We then invented delivery and free return and the refund in cash if the shoes were returned. "

Cloggs is an unusual model in the world of e-commerce, where we usually buy them at bargain prices.Except private sales at a rate of once per week, and business promotional items are sold at the same rates as in the shops. "What we propose is both hyperchoice, with 400 brands of shoes and handbags, that is to say 20 times more choices than in a shop, and hyperservice … Furthermore, everything is in stock, and if the order is placed before 2:00 p.m. Monday through Friday are shipped the same day for free. Objectively, it's almost as if you bought in a store, "argues the officer.

Percent recruitment

Nearly 20 000 color models are currently listed on the site. "Not to mention the sizes," says Stéphane Treppoz.The idea is that you are a woman, a man or a child of 1-99 years, with a size ranging from 12 to 54, you can find shoes to fill Sarenza. "If the company does has not chosen to build loyalty program, the possibility is offered to customers to access the site 24 hours before the other surfers to the products of the private sale. "This is an incentive to register Sarenza. And when we practice this policy of transparency, which guarantees to have overall a good experience with us is the best way to build customer loyalty. Thus we invest, "says the CEO.

Another important strategic choice: although extremely courted for its database of more than one million customers, Stéphane Treppoz has always refused to monetize it."We do not want our client has the feeling of being treated like a number that we will give to other people," he says.

The site, which has experienced strong growth in recent years and has operations in Belgium and, more recently, the United Kingdom, Italy and Spain, aims to continue its expansion across Europe in During the coming year and plans to recruit hundreds of people.

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lefigaro.fr / jdf.com – How is it more worthwhile to invest in listed property than directly into the stone?

Fred Tassin – This allows for better diversification as land generally have office buildings and shopping centers, while in the unlisted, the individual is generally limited to the residential sector. Another advantage is the liquidity of the market: if a problem occurs, the shares may be resold in the day, while a property may take several months to find buyers. Moreover, by their tax status, investment companies listed real estate are not subject to income taxation from the stone. Finally, management of the park is provided directly by the property, which is responsible for finding tenants, seek new property or to renegotiate the rent.

As for performance, they are relatively similar, the results of the land is mostly modeled on the evolution of asset values ​​and rents. But these companies are listed, they are of course dependent on market shares, making them more volatile and therefore riskier.

Property values ​​have performed well in 2010. Their context remains favorable?

The current context of renewed growth in the euro area and the beginning of inflationary pressure is favorable to real estate companies. With regard to the malls, with consumption rising and unemployment falling slightly, attendance will rise again. Who said traffic growth says rising sales shops, thus higher rents and therefore cash flows.And as in France, rents are indexed to 100% on inflation, the land naturally provide good protection against rising prices. For offices, better news are expected. With the crisis, all projects had been frozen. Restarting the demand for office should have a positive impact on rents.

The increase in lending rates does not she stop that rents and property prices?

We think not, unless the collapse of the euro area which would cause a surge in interest rates. In the future, we believe that the rents and thus the land revenue will increase moderately with the increase in the price index, while the debt of property values, average 70% fixed, will slightly impacted by higher interest rates.It should certainly not expect an exceptional year for stock markets as last year, but normalized to one year.

What do you feel about that?

Banks, faced with a more stringent banking regulation should no longer display the same frenetic lending in 2007 same day payday loans. This had led to the emergence of a bubble valuation on real estate. Getting a real estate project financing in the future will be reserved on the balance sheets of the highest order, and this one could wish the best for real estate which can only be penalized by as much volatility and speculation . This sector should no longer know the aberrations there three to four years. In 2007, the market capitalization of land values ​​was greater than 40% of their heritage.A year later, after the financial crisis was the reverse scenario: they showed discounts of 50%.

Real estate remains there a long term investment or can you make some good short-term trading?

Unless you come across a nugget unrecognized undervalued by financial markets, it will become difficult to achieve significant capital gains in the short term. Real estate is and should remain a long-term investment. We are not looking for companies that merely collecting rent, but to land that have identifiable assets and whose project is to increase shareholder value through acquisitions.

This makes us wary of companies with more than half of the asset value is made up of debts.The major players in real estate (Unibail-Rodamco Gecina Icade Klépierre, Ed) but we are interested in smaller companies with industrial histories that follow the traditional route of a property value: cash flow growth and heritage value and recurring payment of dividend.

Building low-power label (BBC) is becoming more and more constructions as the renewal. Is this a choke point for property companies?

We believe that real estate companies that do not take into account this new situation will undergo discounts. We've seen a real appetite for green buildings, not for reasons of energy conservation long ago that the land seek to optimize the energy bill but because it will become a vital communication tool for these companies.Financial markets will give a bonus to companies that offer green building. Eventually, the rents will be noticeable differences between these and conventional buildings.

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