HowOur economic system has been pervertedPerol has played an active role in the folderSame reason spike the own funds of EUR 1 Almost all major banks will be insolvent airThe fourth quarter results bode the worstEiichi Shibusawa did not believe his eyesOn the 90 molecules sought only 30 were found in the landWhat is certain is that all roads lead to Norilsk5 billion euros to 5 years and Credit Agricole 1The French have used these past 20 years life in eurosCold shower on the eve of the Carnival. More than 4,000 employees of the aircraft manufacturer Embraer, main flagship of the Brazilian industry, recently received a letter of dismissal. The reduction of about one-fifth of the workforce is motivated by the international financial crisis, but it did not fail to provoke the wrath of the unions, who immediately appealed to the political power in an attempt to force the company to back.
President Lula made part of its "indignation" according to the leader of the main trade union centre and will convene Frederico Fleury Curado, President of Embraer, for clarification. On the ground, the Steelworkers Union also protested before the company headquarters in São José dos Campos, about 100 kilometers from São Paulo, and plans to file an action for justice in the week.
Like its rival Bombardier or Boeing, which have already proceeded with layoffs, Embraer is aware to be ringside in a context of widespread crisis. As the crisis is gaining in intensity, its horizon shrinks. The niche in the regional aviation with is not spared by Frost and des de l' 120 avec des de l' des appareils l' 120 régionale de l' 120 avec des de l' des appareils l' 120 régionale de l' 120 de l' 120 avec des de l' des appareils l' 120 régionale with an avec des de l' des appareils l' 120 régionale de l' des appareils l' 120 régionale de l' de l' des appareils l' 120 régionale des appareils l' 120 régionale des appareils l' 120 régionale des machines l' 120 régionale l' 120 régionale l' 120 régionale Despite a policy active diversification of markets in Asia and the Middle East, Embraer remains largely dependent on its exports to the United States and Europe, which are the hardest hit by the recession. Countries of Latin America, to which Embraer wished to return to maintain its production, they seem able to bridge the shortfall.
Period of turbulence
Embraer, which suffered its first losses in the third quarter of 2008 for more than ten years, is poised to pass through a long period of turbulence. Many customers have already asked for delivery reports, often higher than two years, according to the manufacturer. More serious still: no thinning is in sight, according to Curado, claiming "lack of visibility" to justify the wave of layoffs. Its sales forecast has been revised downward (5.5 billion, 13) less than the initial forecast, the number of deliveries to more reach than 242 units, against an original forecast of 270. On order book, he already began to melt, passing $ 21.6 billion last year to $ 20.9 billion. All variables that led Embraer to "adjust costs to the new reality of the market" and to reduce its investments.
However, this is not the taste of the Brazilian Government. Because even if the company was privatized 15 years ago, it still benefits from many loans at subsidised rate of the public Bank of development, including to finance exports (BNDES), and the Government considers retain a right of control over strategic decisions.
