Word: firmnesses
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...project for Finland's main utility, Teollisuuden Voima Oyj, is designed to showcase Areva's 3G earthquake- and missile-proof design, known as a European Pressurized Reactor. Areva spokesman Jacques-Emmanuel Saulnier said winning the contract over Westinghouse and GE-Hitachi was crucial to establishing the firm as the leader in advanced nuclear tech. "You only see how it works once you've built it and proved it's what you'd said it would be," he said. "That's why winning the Finnish contract and building the world's first third-generation reactor is so important...
...focusing on its latest reprocessing technology, which produces less waste, Areva aims to capture one-third of the new reactor construction market by 2030. That will be increasingly difficult because competition is heating up. Siemens now looks set to form a partnership with Rosatom, the industry's second biggest firm. And China's push for nuclear plants means there will probably soon be competition from there...
...should he. Bloom is a pioneer when it comes to worker buyouts, in which the employees of a faltering firm buy an ownership stake to prevent plant closings or job losses. The idea of an economy of worker cooperatives may seem utopian, and the notion of using the tools of modern finance to do so absurd. But Bloom and his mentor at Lazard, Eugene Keilin, helped prove it possible—and did so with no less than the largest airline in the nation: United...
...benefits to workers are just as significant. A study conducted by Washington State University found that hourly wages at employee-owned firms were five to 12 percent higher than those at other firms and retirement benefits almost three times greater in value. Employee culture tends to improve in concert. For example, W.L. Gore, the worker-owned firm that manufactures Gore-Tex, has no formal “bosses” and is routinely ranked by Fortune as one of America’s best companies to work...
...clear enough. When workers own their own companies, they have an obvious incentive to protect their own salaries and benefits and to create a friendly work environment. But they also have an incentive to protect the profits and overall success of their employers. After all, ownership in a bankrupt firm is worthless. Thus, worker ownership results in firms where the needs of workers come first, but where necessary cutbacks can be achieved as well...