But this decline does not leave the free group

That is what PagesJaunes otherwise a cash drawer The gross margin of the editor of directories turns to 98 in capital available and, although all of its net profits to be distributed in dividends, he left in cash equivalent in addition to a half of sales. Such a machine slots can be convenient for more projects than resources. Vivendi, the era Messier led, is located in the rather reverse, the opportunity to hand above, is the high price, raised more questions than it solved. PagesJaunes has an Internet dimension that brings a bit of tone without making it a must-have of the new economy. If the case was something more motivating, the leaders of Vivendi does him having not explicit, it is logical that the stock market is relieved that a banal question of award did give up. But this decline does not leave the free group. On the one hand, moved the impression of a disagreement between the staff and the Board on the issue. On the other hand, its recent disposals of assets (Veolia, Du Pont) made his even more liquid balance, because a quick alternative that makes sense, the pressures will intensify that Vivendi mimics PagesJaunes returning to its shareholders a money which has better to do than hang around cash.

Atos Origin becalmed

There are of sailboats more comfortable in the storm and in little time. Atos Origin is of them. Imperial during the crisis of the computer services of the beginning of the century, he fumed in external growth opportunities, the group headed by Bernard Bourigeaud floundered since weather conditions are too more bleak. After several cafouilleux gybes, the warning in good and due form he launched yesterday returned to abandon the 2006 regatta. Yet, the objectives of the year were not very ambitious, 5 of organic growth and 8 of operating margin. They had also aroused the distrust of investors: while it had been very surrounded during the dark years, Atos showed a strong recovery on the other system integrators haircut. But a price-earnings twice lower than that of Capgemini report was not enough to limit the damage caused by its forecasts revised downwards. The capitalization (18) 500 million disappeared yesterday give the extent of the scepticism of the fellows, even on the horizon 2007. Beyond the poor conditions in the sector, Atos Origin has supported them in the idea that he had a specific problem, to create value in beating acquisitions and restructurings that result. A way that désendetté and large generator of cash, it might be tempted to capital but which today have all flight back.

The punctuality of Coca

That a World Cup held in the Kingdom of beer is the Coca-Cola business may seem paradoxical. But, between the European Union and Latin America, two areas that traditionally place the most teams in the final stages of the competition, Coca-Cola realizes as much turnover and twice more benefits than in North America. The event has thus its share in the fact that it is well in line with its objectives of growth of operating income (7 excluding non-recurring) and slightly ahead of Wall Street forecasts. Neville Isdell, Chairman for two years, is at the same time point to the appointment he had given that occur the first effects of its reconquest by the innovation strategy and the marketing of the ground lost on PepsiCo. This second consecutive quarter of acceleration could not be that well received by investors. Coca-Cola started since January to catch that he had accumulated over five years on Pepsico. He makes even his rival 2 points of price-earnings per share ratio and small capitalization $ 1 billion. But if the new message, "the Coke side of life", programmed to be globalized after cutting, to interrupt a long series of advertising failures, the historical hierarchy could be quickly restored.