For example Peugeot is in tenth place with 189 millionIt would be to install a production capacity of 16No interview not even the shadow of a forum3 billion pounds if markets still fell by 406 of the household budget in the Insee indexTotal costs would far exceed the benefitsThis market will not dry up any time soonAmbitious targetThe financial dimension is fearHuge productivity gains weighed on pricesSometimes the timing is not to the appointmentIn times of turbulence, the better is tying his belt. Air France-KLM, the first European airline, could still boast a few months for the best coverage of the old Continent policy to mitigate the effect of rising fuel bills. And in fact, the "painful" no had climbed 7.4 at year end of March, there where it would have inflated 10.1 without protection. Las, the barrel was nose-down flight since and lost 76 of its value. And as there are idiots who do not agree, the winged logo company has decided the unwinding of a part of his famous fuel covers, taking note of the hole of air created by the economic downturn. Covered level reached 43 for the year 2009-2010 and 20 for each of the next two years. All this hangs in the results of the last quarter: such a vulgar passenger "low cost", Air France-KLM to pay expensive valuable blankets. And we just hope that the barrel will not take the helicopter abruptly to the vertical. However, a policy of protection, so glad it, cannot have effect indefinitely, investors know. By days, rather than to a fixation on the loopings of the barrel, they scrutinize all the response capacity and tonnage of cash.
Three lenses, it's going
The trade secrets have this mysterious that it is not known where they are hidden. As one who has helped with Pernod Ricard to five years of the fifth to second in the world and the gap that separates it from the British Diageo (Guinness, Smirnoff, Johnny Walker...). It lies not in the proportions of licorice, badian and herbs of Provence famous pastis de Marseille that both in its ability to quickly digest its prey and tame its indebtedness. Financial crisis, it is still captivates the market. A few months after the absorption of the Absolut vodka, but paid EUR 5.6 billion, or 14 times its operating income, the Group advance the promise of an immediate cash flow of 1 billion here in June and the reduction of the cost of its debt. What continue to surf on its 15 marks stars (Chivas, Mumm, Martel...): for the first half of its fiscal year, it displays an increase of 13 of its sales and 15 of its net income, a double-digit growth that it undertakes to keep on the whole year. This does not preclude some investors, moreover satisfied worth ahead of the world leader since the beginning of the year, with concern that the worsening of the crisis, if it does not encourage consumers to drink to forget, pushes to reduce their demand. Three glasses it will; a glass, Hello damage!
Roll and false-collar
The gloomy is a pernicious disease, but maintenance of false hopes it is just as much. Ensuring the fall that if "degradation of demand in the months of November and December", his margin would not reach the more than 8 expected but only more than 7, Michelin risked skid. Upon arrival, the thinness of the operational profitability of 5.1 displayed for 2008 shows that it has not been controlled. The expectation expressed by Michel Rollier restarting in the second half of 2009 seems also a bit hyperexpanded. Without it, measures on investment nor the reversal of the price of natural rubber, down 60 since last July, should be sufficient to redress the bar. Hoping to play the effect of scissors between its own prices increase and those raw materials declining, Bibendum account a little that the market offers the butter and butter money: low costs and prices of sale, while logically the situation grows rather these two variables in the same direction. In the pneumatic tyre, everything is matter of adhesion. Adherence to the membership, there is nothing that the shareholder will be reluctant to cross.
