But the automobile is not only affected one

The global financial crisis is now affecting head-on industry. Report of privatisation, of divisions, to increases of capital, abandonment of mergers and acquisitions, dismissals in series, often coupled with plant closings... The scarcity of credit, the chaotic movements of scholarships and the entry into recession in many countries result more and more negative consequences for companies.

A very symbolic example: EDF announced yesterday that it waived launch a counteroffer on the American Constellation Energy (read here). The Portuguese Government, will differ from step less "than a year" the privatisation of Galp Energia, its main oil group, "because of the current crisis." In the Canada, EnCana, the oil giant, also rejected yesterday project is split into two separate entities, the oil and gas, "because of the uncertainty prevailing in the markets." A justification that resonates today as a leitmotif.

Two days earlier, the German railway company Deutsche Bahn had postponed sine die its entry in the stock market. According to the press, the company could now sell to investors without going through the market. For its part, the belgo-brésilien group InBev, the leading global Brewer, has postponed its capital increase of $ 9.8 billion to fund its offer for the purchase of the American Anheuser-Busch for $ 52 billion. If this last acquisition is not questioned, the global financial crisis not in disrupts not less the regular movement of industry consolidation committed over the years. At beginning of week, Waste Management, the American leader of garbage collection, thus threw the sponge in his effort to takeover of Republic Services, the number three of the country.

A heavy social component

The same day, United Technologies Corporation (UTC) withdrew its hostile OPA of Diebold, the manufacturer of vending machines. Difficult, crisis, overcome the adamant resistance of this last several months.

On 14 October, JCDecaux, the French group display and real estate, dropped his discussions with News Corp., the company of businessman Rupert Murdoch, for a reconciliation of some of their assets. Even Rio Tinto, Anglo-Australian mining giant, said yesterday that it was reviewing its schedule of assignments and could push its goal to achieve 10 billion dollars of sales in 2008. Interested candidates are struggling to find the money...

The global financial crisis also has a heavy social component. Many companies have announced plans for abolition of posts. This is particularly the case in the car. Renault, Nissan, PSA, General Motors (GM), Daimler..., but also their suppliers come to give serious brake blows to cope with the slump. In France, the factory Renault's Sandouville, which manufactures the Laguna, will eliminate 1,000 jobs over 3,700. PSA Mulhouse will soon stop his team at night, resulting in the removal of 300 temporary workers. Meanwhile, Nissan has dismiss 1.680 people in Barcelona. Across the Atlantic, GM will close earlier than expected a large 4 4 plant, while Daimler is to eliminate 3,500 jobs in its activity of trucks. But the automobile is not only affected one. Tuesday, PepsiCo has announced the removal of 3.300 positions and the possible closure of 6 plants.

And the movement should continue. The Agency Moody's view as well as companies of consumer goods, such as manufacturers of clothing or cars, are among the most threatened.