Riding the roller coaster

Article Abstract:

The stock market crash of Oct 1987 slowed the momentum of privatization trends in Western Europe. The British and French have been seen as leaders in privatization, using state sell-offs to promote a new class of small stockholders and to push public opinion away from socialism toward a 'popular' capitalism. Shareholding among the British public is still limited: over half of all stockholders there have investments in just one firm. French critics assert that its Conservative government has turned to arrangements with 'hardcore' investors because France is not prepared for extensive privatization. The British and French governments have succeeded in ending the post-war consensus on government's economic role, but no coherent alternative has emerged. Privatizers are learning that large, government-controlled firms are too tightly part of the economic fabric to be readily removed.

United Kingdom, France, Economic policy, Privatization, Privatization (Business), Government ownership, Nationalization

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Europe's booming black economy

Article Abstract:

The European underground economy is growing, and may make up as much as 12 percent of the European Community's gross domestic product. No reliable statistics are available, however. Tax evasion is probably the biggest motivation for not reporting income or maintaining off-the-books businesses. The underground economy probably assumes a smaller portion of the gross national products of northern European nations than in southern Europe because the north is more heavily industrialized. The 'black' economy raises basic questions about the fairness and effectiveness of tax laws, social welfare efforts, and employment programs. Control efforts by countries such as Great Britain, France, and Spain.

Western Europe, Black market

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Bertelsmann's stairway to stardom

Article Abstract:

West German media company Bertelsmann AG is the world's largest publishing conglomerate. The company had sales of $5.05 billion in the fiscal year ending Jun 30, 1987. Due to several recent acquisitions, the company's earnings were $104 million, down 42 percent from 1986. Bertelsmann's holdings include Gruner and Jahr magazines in Europe, book publishers and book clubs in Germany, Doubleday, Bantam Books, and RCA Records in the US. The company's expansion strategy has been to develop expertise in a new business in its domestic market, and then to apply its knowledge to other markets in Europe and North America.

Publishing industry, Management, Case studies, International aspects, International business enterprises, Multinational corporations, Bertelsmann AG

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