Large White Bump Above Tooth

Esteban Gonzalez Pons Portugal and Telefonica

The President of the subsidiary of Telefonica Group in Spain, Guillermo Ansaldo, announced yesterday at the Investor Conference to be held in London, cutting plan in three years, 20% of the workforce. Some 6,400 workers. At the same conference announced further cost cutting measures such as 6% reduction in the number of directors of the Company and the decrease in assets such as selling non-strategic businesses. At the same time the media jumped the intention of giving the directors of the company with an important incentive scheme. This plan should be approved by the shareholders' meeting and would be the continuation of a previously approved plan. I do not know if this plan was unveiled at the conference of Guillermo Ansaldo.

Esteban Gonzalez Pons

came to the fore quickly to say that "socialism is an ideology of" unfair "because the same day that Private Label Telefónica announced the abolition of 20 per cent of its workforce, by Redundancy Employment (ERE), passes up bonuses to executives without the Government of the Socialist Party (PSOE), "hair was uncombed." Mr. Gonzalez would not have had in a long time a better opportunity to shut up and I explain:

• Despite what you just said Ms. Chacón at a rally, by the way what bad mitinera is not true that Party People did not say anything during the crisis. There is something that the Popular Party has repeated ad nauseum and has also been partially implemented by the Government of the Socialist Party, the labor market liberalization. However, this liberalization, which the Popular Party and the Socialist party, should lead to greater job creation, also produces the possibility that one of the largest companies in Spain to lay off 6,400 people.
• Telefónica was one of the "crown jewels" in front of which José María Aznar made his friend Villalonga in an exercise of "neutrality and professionalism" that left us stunned. Mr. Villalonga went down in history as one of the worst managers of Telefónica and, fortunately, was deposed.
• In January 1997, the Popular Party government, launched an IPO of 20.9% of the share capital of Telefónica, which made the state lose control of the Company as it was without any input. This IPO was "cheating" because it contained the so-called "golden share" that was only the right to veto certain decisions of the Government. Proved to be a "trap" for the May 14, 2003 the highest court in the matter European Union canceled the English standard of 1,995 to defend the existence of "golden share" and cited in its ruling, specifically, inter alia, Telefonica.
• In April 2008, Eduardo Zaplana, leader of the Popular Party in Valencia, the place where the party is subject, at least, serious doubts about his honesty, is temporarily away from politics after losing general election. Immediately becomes a top executive of Telefónica bound for London and exorbitant salary. It is one of the managers who estrará incentive program within the Company. Interestingly Mr. González Pons also part of the Partido Popular in the Valencian Community.
• People's Party advocates a liberal economic model and, therefore, should prevent the Government "uncombed" before a decision by a private company if you comply with the law. To verify this are the Labour Inspectorate to decide, the courts.
• Mr. Rubalcaba, acting Prime Minister "de facto" once Zapatero "has removed the brown" has made clear that it disagrees with the decision of Telefónica.

Mr. Gonzalez Pons, Vd is a "good soldier" because it obeys the orders of his head but shoot too much, over what he orders his head, and also has very bad aim. In this case "has been shot in the foot." Best had been quietly!