the mayor of Villeurbanne denounces “a new proof of the aberration of financial capitalism”

Politics 05-01-2021 at 15:24

The PS mayor of Villeurbanne joined forces with Senator Gilbert-Luc Devinaz to write a press release in which they denounce the granting of a bonus of $ 47 million for the CEO of General Electric. Because at the same time, the firm plans to cut jobs in the Grid and Hydro branches, mainly in Villeurbanne and Saint-Priest.

For Cédric Van Styvendael and Gilbert-Luc Devinaz, “This is further proof of the aberration of financial capitalism: destroying jobs despite all industrial and economic logic with the sole objective of satisfying the short-term interests of shareholders. Shareholders who, to thank the CEO for his good and loyal services, in return vote him the granting of stock options in amounts beyond comprehension.There can be no economic, social and ecological progress as long as public regulatory mechanisms do not prevent such decisions that lead to success. to the destruction of centuries-old local industrial and engineering know-how useful for ecological transition. The modern strategic state that drives, federates, supports, co-organizes or protects is no longer the interventionist state of the Thirty Glorious Years, but he has responsibilities to assume to rebuild a conquering national industry“.

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