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DIED. JEAN-LUC LAGARDERE, 75, French industrialist who built a small defense subcontractor into one of Europe's largest conglomerates and whose holdings include the company that makes Airbus jets and the Hachette magazine group, publisher of Car and Driver and Elle; of sudden complications after a hip operation; in Paris...
...Elle. A foray into TV almost bankrupted Matra, but it recovered, and the publicly traded firm--now called Lagardere Group--with $14 billion in annual sales is weathering the economic downturn. Through aggressive dealmaking, he has spun his stake in Matra into a 15% share of EADS, which makes Airbus jets. His son Arnaud, 41, is leading the growth of Lagardere's media division, with about $8 billion in annual sales. Last October Arnaud agreed to acquire the book-publishing arm of ailing Vivendi Universal for $1.25 billion--giving Lagardere an estimated 70% of the French book market...
...policy among the eurozone's 12 countries. But behind the declarations of intent, big differences remain. France has increased its defense budget this fiscal year by 6%, while Germany is cutting back. Defense Minister Peter Struck last week announced that Germany would be drastically slashing its pledged orders of Airbus military transport planes and air-to-air missiles. France is cutting taxes, while Germany keeps piling on new ones. And fiscal coordination? Well, they can't tackle that task with credibility until they get their own budgets in order. Some 40 years ago, De Gaulle characterized France and Germany...
...sustainable for a year, to take on general peacekeeping and humanitarian tasks. This time, NATO has given specific wish lists to member states. The Germans have agreed to take the lead in putting together a consortium of European countries to lease large transport planes before Europe's own Airbus A400M can be deployed around 2009. At present, according to NATO figures, the U.S. has a fleet of 340 planes for strategic airlift; European allies own 11, and rental agreements on a further 25 are due to expire at the end of the year. Fixing the problem fell to Berlin...
...powerful metalworkers' union, who acknowledges that labor bears some blame for the collapse. But the post-Sept.11 downturn didn't kill Sabena. Corporate misconduct did. As the commission has dug into company files, it has unearthed troubling details about a range of decisions, most notably the Airbus deal. Sabena was a longtime Boeing customer and a group inside Sabena lobbied hard to buy Boeing planes. But Swissair flew Airbus and Reutlinger insisted Sabena should, too; at one point he even threatened a Swiss withdrawal if the decision went against Airbus, according to several testimonies. The board signed...