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They buy a mood, an art of French living, "says Bernard Reybier, CEO at the head of this company of 200 employees who made 35 million euros in turnover for the year 2010-2011 which 44% internationally.

In Dubai, walkers who stroll along the Marina or in Zabeel Park, will again enjoy a French furniture, made by Sineu Graff. In forty years of experience, including ten years abroad, this Alsatian company now operates in over thirty countries worldwide. "This allows us to work for export, is a strong positioning, products and solutions with high added value," says Vincent Schaller, president of Sineu Graff.

The design is an asset for export

This enthusiasm is also explained by a Francophile historical know-how and prestige associated with the French furniture.

Their remedy for the debt crisis in the eurozone was expected. After donning their new clothes Nobel Prize in Economics in 2011, Americans Christopher Sims and Thomas Sargent have shot so the map of fiscal federalism. Historical precedent should serve as a model according to them: the union of the budgets of the thirteen founding states of the United States with the Constitution of 1787. Christopher Sims, then this is a "definite solution" with which "we were born." And Thomas Sargent called the euro area to design "a way of sharing the fiscal burden to link budgetary powers to the European Central Bank (ECB) and the lender of last resort". According to him, the outlook for the euro will remain "dark" if those links "also remain unclear."

Although the idea is not new, it has resurfaced thanks to the Greek crisis.On Wednesday, the political and business across the EU (including billionaire George Soros and Martti Ahtisaari, former Finnish Prime Minister) signed a platform calling the euro zone leaders to unite. Published by the Financial Times, the letter calls for the "establishment of a joint budget that would raise funds and to ensure fiscal discipline of the Member States." In this spirit, Jean-Claude Trichet, ECB president, has recently called Europe adopts "a federal Minister of Finance."

Judging "pragmatic" position of the two Nobel Jerome Creel, assistant director of studies at the OFCE and professor at the ESCP Europe also believes that this idea of ​​fiscal federalism is "a must". Clearly, the euro area is expected to have a real "federal budget" next national budget.This would better "regulate the activity" of the Union through a "permanent reciprocity 'in bilateral relations between the world's strongest and weakest, especially in times of economic shocks. "When people buy Mercedes, Greeks contribute to German growth, so it is normal to help him when needed," the economist is an example.

"The euro has to walk on two legs"

The Assistance Fund of the euro area (EFSF), which has helped Portugal and Ireland, is seen by Jerome Creel as a draft of a further fiscal federalism low fee pay day loans. According to him, it applies to the current debate on the issue of Eurobonds ("that could eventually finance a large common budget"), like that, embryonic and far from unanimous, the tax on financial transactions.

To be effective advocates Jérôme Creel, the introduction of the federal budget will not happen without the ECB. "The euro must be able to walk on two legs: a lever for its independent ECB monetary and fiscal policy coordination," he says. Yet the institution of Frankfurt has so far only goal against inflation (unlike the U.S. Federal Reserve). Result, coordination and relations between the ECB and the U.S. are regularly strained: the economist recalled that in June 2008, including Nicolas Sarkozy had won against the institution in Frankfurt, who had decided to increase its key rate Director of 4% to 4.25% after soaring commodity prices.The ECB "should ask the question of economic growth" and "not just for inflation," lambasted the head of state, fearing a rise of the euro against the dollar penalizes exports of the area euro. Six months later, contagion from the financial crisis of U.S. forces in the Old Continent, the ECB has revised its rates three times down, up 0.75% at end 2008.

Problem: the establishment of a true federal budget involves a "significant transfer of sovereignty to the European" art Alexandre Delaigue, an economist blogger Econoclaste. "For this to work, it would require that Brussels can closely monitor and control deficits anything related to the competitiveness of the members, he insists.With the budget, it directly affects people's lives. "Collage, he cites the" retirement age, the conditions for unemployment insurance, "which would then indirectly controlled by the lever via Brussels budget. In addition, he said the United States, "the union budget could be made after the Civil War …"

The directors of Dexia and states have approved most of the steps needed to dismantle Dexia. Belgium has proposed the purchase to 4 billion euros in Dexia Bank Belgium (DBB), letter of intent attached to the communiqué issued after the board in support. A similar document should also have been initialed on the negotiations with the Deposit and Postal Bank on the financing of local authorities.But according to two sources familiar with the conditions of an agreement between Dexia and Caisse des depots were not met on Monday.

A week ago, however, after an operation of mediation between the parties led by René Ricol, the Deposit and Dexia had agreed on the outlines of the deal: the CDC should buy Dexia Municipal Agency The vehicle refinancing loans from Dexia's long-term form of bonds, for a price estimated at 250 million euros. So business savvy. But the data have changed in the day Saturday, Dexia reassessing its estimate to 380 million.This morning, without targeting specific operation Dexma, Pierre Mariani reaffirmed its determination to defend the interests of the bank and its shareholders.

Another crystallizes the tension between the French public institution and its subsidiary to 20%: the definition of liability guarantees granted by the latter to the former in connection with the operation. Due to insufficient data, the investment committee of the Caisse des depots, while conscious of the urgency has given an advisory opinion but negative on the operation hours of the board of the Franco-Belgian bank.

Simple adventures of a complex negotiation and tense? Recalled to the rescue Saturday night, Rene Ricol has at least reconfirmed the terms of the consensus snatched the previous weekend. The subject should again grow rapidly.We need it to maintain the balance of the scheme to dismantle and symmetry of the actions of both sides of the Franco-Belgian border.

The restaurant may have for their charges. As part of the review of legislation strengthening the rights, protection and consumer information, the National Assembly voted Monday to require an amendment to the professionals to reveal the freshness of their products. These should be systematically identified by an asterisk in the menus, instead of dishes made from frozen food, vacuum-based or canned.

Purpose of the maneuver: to promote "consumer health" and "quality of the restoration" of the tables of the Hexagon, said on its website Fernand Sire, UMP deputy from the Pyrenees-Orientales, which supported the text. For the elected "too many pubs and restaurants now offer the ready-made without anyone being informed," he told Le Parisien, Aujourd'hui en France.

Consomation specialist and director of Research Center for the Study and Observation of Living Conditions (Credoc), Pascale Hébel finds that the measure is likely to weigh on the business of many restaurants. "The French, especially the elderly, are very attached to the charge, and only a minority is aware of the place of the frozen" in their plates, she said. However, according to Roland Heguy, president of the Trades Union catering and hospitality (UMIH), "the 120,000 catering outlets in France, 20,000 are working with really fresh."

The frozen ostracized

Unlike the director of Credoc, Roland Heguy not worry unduly for the industry: "Unfortunately, he let go, people know they eat frozen food" restaurant. However, he deplored the "suddenness" of the measure, "the lack of dialogue" upstream.Above all, this roundabout way to banish the frozen, "which is not a poison," he insists. For him, "the problem is that there is no differentiation between the professionals who use industrial products, and those who are cooking their dishes with fresh ingredients, but sometimes the freeze" to avoid wasting .

If this argument will not necessarily appeal to health authorities, Roland Heguy also argues that a duty of freshness is already in the state label of "master restorer" created in 2007. "Until now, restaurants have won in 2000, knowing that we have agreed a target of 7500 by 2015," says the president of the UMIH.

To him, the copy is to be reviewed. A meeting of "consultation" has also been programmed with Frédérique Lefebvre.To the Secretary of State for consumption, it will be to "find ways" to implement a device "extremely innovative". For Pascale Hebel, communication about this will have a major impact for the sector. "Pragmatic", it believes that "we must not demonize the semi-prepared or frozen, as they democratize and improve their quality."

For professionals, it will shake to play knowing that the season will be difficult. Comprising 240 stores retail chains and restaurants, the federation Procosa sounded the alarm earlier this month, judging impossible mission to find his activity levels before the crisis next year. After a difficult summer, marked by a decline in sales of its members of more than 4%, the best table on a 1.5% increase for 2012. This amendment "anti-frozen" do not leave indifferent.

The crisis has not only severely affected the French economy, it also severely impaired employee engagement vis-à-vis their business. In other words, their motivation, commitment, loyalty and loyalty.

Thus, according to a survey by Mercer to appear this morning and Le Figaro revealed economy, one in three employees think "seriously" to leave his company. They were one of only two in 2007. "This is a worrying situation for employers, as can be expected in the immediate departure of precious talent, which could increase if gradual economic recovery," said Eric Sarrazin, head of the investigation .

How to avoid this harmful? "The commitment of employees, major subject of ten years, wins.It is a reflection of the quality of management, "insists Didier Pitelet, founding president of Moons'Factory, a firm in corporate reputation. The initiatives implemented in Flo (Flo signs, Hippopotamus …), Bouygues Telecom and Bain & Company (consulting in strategy and management) demonstrated.

The 1200 participants of the Bain World Cup

"Apart from the second half of 2010, when a ray of sunshine appeared, we were and are still heavily affected by the crisis, admits Dominique Giraudier, chairman of Flo. In response, communication, and even over-communication is essential. "Since 2009, the group has set up a" chat ", where employees have direct contact with him. Since then, the regional directors have taken over.

Earlier this year, a survey to take the pulse of 5,900 employees was conducted. The results are flattering."The teams are highly motivated, strongly attached to the group, 98% proud to be part of. Spread over 300 restaurants, all of which are SMEs, they have a real need for information on our strategy, our vision for three to four years and how they fit into the picture. To give meaning to their daily commitment, meetings have been held in 2011, "said Dominique Giraudier.

Bouygues Telecom (9200 employees), the "staff perception surveys" are conducted every two years. The latest, 88% are "motivated", 95% are "proud" to work in the company and 86% are "confident" in its future. "We are in an area where innovation is the queen, the skills are constantly reevaluated, says HRD, Philippe Cuénot.Meanwhile, since our inception, fifteen years ago, we focused on training, internal mobility and balance between professional and personal life. We have succeeded in building a win-win relationship that meets our employees. "

In the group Bain & Company, the initiative is part of the base. Initially, a handful of football fans. Upon arrival, a major event organized by and for employees. In early September, in Paris, the 25th Bain World Cup has brought together 1200 participants (employees, consultants, partners …) from around the world. On the program: football, but also volleyball and a video contest. "As a result, franchise without aggressiveness, team concept, passion, pleasure, this event demonstrates the values ​​of our group," said John Hazan, Partner of the Paris office.Bernard Lequiller, also associated, added: "During the World Cup, there is no social barrier, communicating with each other. She is involved in the transmission of values ​​from one generation to the next. "

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"How to" reboost "employee motivation

In this eventful weekend, the CAC 40 is expected to rebound on Friday. The benchmark index of the Paris Stock Exchange is expected up 1.5% as planned, after a tumble 5.25% on Thursday at 2781.68 points. Mobilization and call for unity of the G20 (which is to meet at 14 am today) should reassure markets. While Friday morning, Asian stock markets were still sharply lower.

To deal with the stock market crash, the finance ministers and central bankers of the twenty first world economies have pledged to provide "a strong and coordinated international response" to the crisis at a meeting in Washington. In a joint statement, they agreed to ensure that "banks have adequate capital," after the plunge in recent days of European banking stocks, undermined by fears of debt crisis in the euro area .In fire, central banks have promised to make "the necessary liquidity" to financial institutions.

In addition, large emerging group of Brics Thursday said they were "determined to accelerate structural reforms to sustain strong growth" in a joint statement after a meeting in Washington.Brazil, Russia, India, China and South Africa are therefore considering "if necessary, to provide support through the IMF or other international financial institutions, to address the current challenges to the stability financial crisis, according to the circumstances of each country. "

Meanwhile, in response to a request by the G20 in September addressed to Nicolas Sarkozy, the euro zone countries have pledged to implement "necessary measures to increase the flexibility of the European Financial Stability Fund (EFSF)" to prevent contagion from the crisis in Greece. Yesterday, the possibility of a defect in Athens, though long ruled by EU leaders, was raised by Klaas Knot, Member of the Board of Governors of the European Central Bank (ECB). "This is one of the scenarios," he told the Dutch newspaper Het Financieele Dagblad.He added having "long been convinced that the collapse was not inevitable. But the news from Athens, at times, are not encouraging. "

The specter of a recession is not écartéToutefois, the specter of a global recession has not yet ruled out after the ads pessimistic U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow "and threatened by" high risk ". Wednesday she has decided to sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity paperless payday loans. But the fact that it favors measures to monetary easing, a depressed market on Thursday, who sees as a sign of impotence.

On the macroeconomic front, France, the monthly business survey by INSEE household, industrial, construction, retail trade, car repairs and services for the month of September include expected. And the index of business climate and economic downturn for the same period.

On the foreign exchange market, the euro appears in small increase compared to the U.S. dollar: it rose on Friday morning from 0.42% to 1.351 dollar. Oil prices also went up, investors sniffing deals after the significant losses suffered by the crude in recent days.Within the scope of a tumble of more than $ 5 Thursday, a barrel of "light sweet crude" for delivery in November clinching 53 cents in early electronic trading at 81.04 dollars, a barrel of Brent North Sea crude for November delivery gained 71 cents to 106.20 dollars. "Oil rises due to bargain hunting and redemptions of coverage after several sessions of decline," said Ker Chung Yang, analyst at commodity Phillip Futures in Singapore.

Values ​​to follow

• Banks

The European Banking Authority (EBA) said Thursday there were no plans to force a number of European banks to raise capital more quickly than expected and that the original schedule established at the time of stress tests was valid.According to information published by the Financial Times, European leaders would be willing to accelerate plans to recapitalize banks 16 which narrowly failed to stress test this summer.

• GDF-Suez

There will be no increase in gas prices for individuals to October 1 but enterprises will experience a rate increase of 4.9%, announced Thursday a spokesman for the French Ministry of Industry and the Energy.

• EADS

Airbus, a subsidiary of the European giant, is ready to help customers who are in need of funding due to the debt crisis in Europe and expects a good year in 2011 despite the crisis, said its president Thomas Enders in our columns.

• Groupama

Under the threat of lowering its rating by Standard & Poor's, the company says it wants to save 300 million euros over 2012-2013, we read in Les Echos.

• Technicolor

The group said confirming its forecast for fiscal 2011 the group announced Thursday night, after falling nearly 15% of its share price. It also confirms the intention of France Telecom to give up his development project with a group of next-generation decoder.

While the price war is raging in the mobile, the controversy swells at the end of unlimited Internet packages, the operators challenge the tender on licensing 4G, Eric Besson, Minister of Industry, responds to Figaro on all issues and criticizing the socialist project on digital.

LE FIGARO. – The bidding on licenses 4G is attacked. Will you give up?

Eric Besson. – The State Council will vote Wednesday. Expect. But thanks to this call for nominations, France will be part of the forefront of the mobile broadband Internet. The government is selling rare frequency of the highest quality, which all countries say they are strategic. We do this with the twin goals of coverage and stimulating competition, the benefit of consumers. Traders feared that a monopoly or duopoly is not recreated.But this call for applications is the first to include criteria as pro-competitive: the creation of four lots so that all current operators can expect to find their place, creating a criterion favoring offers to host virtual operators. We have gone as far as possible to encourage competition. But we also need strong operators, able to achieve very significant investment for years to come, both for the deployment of mobile broadband as that of the optical fiber.

How will you deal with interference of DTT by 4G?

As has always been the case in all countries of the world, a trader who buys frequencies is liable for any interference that they can generate. We assess that risk to less than 2% of households.To facilitate the processing of any such interference, the government will establish a single telephone number, with a small call center, so that individuals can report any such interference on their TV and get the linkage with operator responsible. This device will be funded by all operators at a rate of 2 million euros per year for five years.

You advocate for changing the standard of TNT. Chains bonus going to be frozen, and consumers will they have to buy a TV?

I am not campaigning for anything, and there will be no change in standard of TNT in the coming years. The French continue to receive 19 free channels and 10 pay channels of TNT, with no changes.What we're talking about is the next step, and new services to be launched in the coming years: new TV channels, personal mobile TV, 3D TV … The question is whether these new services will use the older DVB-T or the new DVB-T2 which allows to get 70% extra services. Chains on bonus, not the government that calls into question, but the European Commission, which initiated proceedings bad credit payday advance. It would be irresponsible to issue permits for them to be canceled two years later, and that the state is then ordered to pay $ 800 million to 1 billion euros in compensation.Let the president of the CSA put its proposal and the prime minister officiate.

Packages Unlimited Internet at home are at risk?

The unlimited plans are at the heart of the development of the digital economy and are not threatened, quite the contrary. New unlimited call plans appear almost every week. Some operators have started to consider to better segment their offer, which does by no means the end of the unlimited. With the development of very high speed, there will be even more unlimited in the months and years to come.

How do you protect consumers?

We have set up with the social tariff Frédéric Lefebvre mobile phone, which allows 40 minutes to communicate and send 40 SMS for less than 10 euros per month.We will implement in the coming days the social tariff of the Internet, or 20 euros per month for telephone and broadband Internet, plus 3 euros per month for a box. We will sign an initial agreement on September 13. The order that I issued on August 26 also includes important measures as the establishment of an impartial mediator to each operator, the requirement to obtain consent from consumers for the automatic sending of commercial messages or for the establishment of witnesses navigation.

What are the issues you organize inter-ministerial seminar on October 21?

This is progress in the implementation of the declaration of Deauville.Networks (both funding and security), protection of personal data and the fight against the digital divide will be on the agenda.

What do you think of socialist proposals on digital?

The project of the PS is archaic. It is based on a tax Internet access, known as "socially progressive". Internet access will be paid based on their income! The PS also wants to abolish Hadopi and create a global license. This proposal has been accepted anywhere in the world. This would be the end of copyright in the land of the cultural exception! The PS also provides for the creation of a single public operator for the deployment of high-speed fixed and mobile. He still has not understood that the introduction of competition was the key factor in broadband deployment and growth of the digital economy.

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"Free attack frequencies 4G mobile

His first steel pipes have started to go out there four months. But the new Brazilian plant of the French group Vallourec (Japanese partner Sumitomo is 44%) had Thursday's first critical success: President Rousseff came to inaugurate Jeceaba, a hundred kilometers from Belo Horizonte , the capital of rich state of Minas Gerais.

"This is a very special event for me," confessed Rousseff, born in Belo Horizonte and whose father worked for Mannesmann, the ancestor of Vallourec in Brazil since the French group bought in 2000 the activities of the German inventor of the technology of seamless tube in the nineteenth century. Dilma Rousseff's visit is a nod to the French-Japanese investment of 2 billion euros, thanks to which, in his view, the added value derived from the iron ore Minas Gerais is one of the leading producers a reality at last."Brazil does not want to be considered as a raw material supplier to the world," said Philippe Crouzet, the CEO of Vallourec. The French group has made Brazil a strategic basis. It has the distinction of being integrated with its own raw materials as it has its own iron ore mine and a huge plantation of eucalyptus trees whose rapid growth provides power to the steel coal wood.

Vallourec already produces a quarter of his hits in Brazil and there will soon employ 7,700 people. Plant Jeceaba increase its total production capacity by 10%. The site – 250 acres and about 2 km in length of the blast furnace to finishing shops – is a measure of the target market: VSB will be dedicated to the export of products for the exploration and production of hydrocarbons payday loan lenders.However, investment by oil and gas companies have never been higher. And their needs are ever more technical, as it must look deeper black gold, or in extreme conditions. The new plant should therefore take place in the South-South trade, serving clients in West Africa and the Middle East.

Petroleum potential

Its commissioning will enable the existing plant, VMB, focusing on the Brazilian domestic market: infrastructure, especially as we approach the World Cup and the Olympics, mechanical, automobile Vallourec … but mostly gets in the wheel Petrobras, client history. "Our investment decision in March 2007, spoke before Petrobras does not reveal the end of 2007, the discovery of its giant fields présalifères. At the time, this discovery was often met with skepticism.Today, Petrobras is thought able to produce 5 to 6 million barrels per day by 2020, "said Philippe Crouzet. The potential 50 billion barrels of black gold hidden away Petrobras offshore Brazil, within 7 to 8 km of water, rock, and especially salt. An obvious market for pipes and joints upscale Vallourec, tested by the extraordinary conditions of pressure and temperature.

"Petrobras is planning to invest 224 billion dollars in the coming years, more than any staff" has stressed Rousseff. The rise of Brazil as a major oil producer is an opportunity for Vallourec. As is the U.S. energy revolution: the group is building a U.S. factory dedicated to market exploitation of shale gas and go into production in late 2012.

In May 2010, McDonald's France was a sensation with a TV spot in which a teenager going on a phone call to her boyfriend before having lunch with his father, who explains that, as he did at that age, it could be a 'real card with the babes. " Advertising has been around the world. In the original French with subtitles in English, it even triggered a controversy in the United States. The conservative Fox News channel has even made a field day. Sacrilege: great American brand in the gay friendly side!

In this spot, designed by BETC Euro RSCG, is not known if the son ends up coming out to her.But the statement by McDonald's, which has declined in all genres, is very clear that you're straight or gay, black or white, young or old, rich or poor, we do not judge, "just like you are. "

Before, we criticized the pub not to be representative of "visible minorities", not to be sufficiently "black-blanc-beur". Today, the debate has shifted to the "non-visible minorities" and still gets carried away on the issues of communalism, which are still taboo in France.

10% of "non-white"

The proportion of ads depicting characters perceived as "non-white" compared to the total advertising (TV, press and poster) distributed and reviewed by the Regulatory Authority's professional advertising (ARPP) reached 7% in 2008 against 3% in 2005, and this share has increased further since then, around 10%."Racial minorities are now represented quite rightly, said Ingrid Zerbib, image editor for the magazine Strategies, who viewed all the ads that come out in France. The next step is in progress. Homosexuals, the disabled and the sick are increasingly visible. "

McDonald's campaign has been emulated. Krys posted Orangina or gays in their pubs. Personalities with disabilities such as Down syndrome Pascal Duquenne for the virtual mobile operator Simyo, or the blind Gilbert Montagne, for heating specialist camera, turned in spots. Diseases are also commonplace."You can be sick without stigma," said Anne Ramon, communications director of the National Cancer Institute (INCA), the last campaign "I am a person, not a cancer," conducted by the agency La Chose , seeks to change social perceptions of one of the most widespread diseases in France.

In another, more commonplace, but also an affirmation of reality: that of the Community consumption, with the campaign launched last year by the brand halal Isla Delight "Proudly halal." On the occasion of Ramadan, for the first time in France, the brand was as diverse a reference food, free of any cliché. "This campaign is a marker, decrypts the marketing consultant Jean-Jacques Urvoy.The brand was treated as the French leader Charal. "On a halal market estimated at over 5 billion euros – and therefore highly competitive – the whole trick of the ad was to challenge the EU labeling, while displaying a rooster and a Charolais beef! A war of images in a way.

"Frankly, I'm the only one who can clean it all," said Rupert Murdoch, tapping his fist on the table, at the hearing by the Cultural Committee of the British Parliament last month. Open-tapping scandal, the media mogul has not yielded an inch on the issue of governance of the group whose history is intertwined with that of his family. Wednesday, publication of successful annual News Corp has confirmed this position. He and his family will remain at the head of News Corp and any jolt the market or its shareholders will do deviate from their course.

"Never Rupert Murdoch will not yield to pressure. Neither in a million years or two million years. If a change is to occur, it will be by his own will and when he decides, "recently told a source close to the clan, The Guardian newspaper.During his hearing in July, Rupert Murdoch did not hesitate to declare that he wanted "to see his son and daughters to continue the road, if they are interested." Wednesday night, he reiterated his confidence in his son James, who oversees the group's activities in Europe and Asia.

Yet the issue of governance is more than ever at the heart of the reflection of the market on the future of the empire built by one man, who hammered Wednesday night: "The job is not to be filled in the near future. "

Voices begin to rise among the shareholders to demand an overhaul of the board of News Corp fast cash advance. With 12% of the capital and 40% of the voting rights, Rupert Murdoch and his two son, Lachlan and James, occupy three seats out of the seventeen that make up the governing body.Before exploding the case of the tabloid News of the World that led to its closure, it was also expected that Elisabeth, her second daughter, occupies a fourth seat. What it has temporarily waived. Besides the fact that James has yet to respond to the inquiry on the sheets, making his position as director of News Corp chief operating and its subsidiary, BSkyB, more and more complicated. "It is time to end management of a decent grocery store around the corner," a shareholder storm quoted by the Anglo-Saxon.

Rise of Chase Carey

Six months ago, Chase Carey, the News Corp. chief operating, popular markets, was to chair the group in preparation for the arrival of James Murdoch to the position. In vain.However, there is a manager in whom Rupert Murdoch has the most confidence, the point of saying Wednesday night: "If I go under a bus, is to him that my job will come back."

Theoretically, News Corp has nine independent directors can tilt the board. But as the experts point out, "it is very difficult to agree nine people at once. This is not a malfunction, it is a non-functioning board. "