Might this be the reason the top executives are relocating to the U.S. ?
The 2013 finance bill provides notably for an exceptional 75% contribution to be imposed on income in excess of EUR1m per beneficiary. Defending the provision, French Budget Minister Jérôme Cahuzac insisted that the contribution is both “legitimate” and “not confiscatory”. The 75% tax, which is expected to affect 1,500 individuals in France, paying on average EUR140,000, is forecast to yield around EUR210m a year for the state.
75% income tax....OMFG.
I'd leave too.
This is going to hurt france because these executives can just relocate and then france has no income tax from them.
Lucent exceutives must be realizing their mistake of merging with Alcatel!! It did not help either the company OR themselves and, of course, shareholders of both companies! To goof was so habitual for those Lucent executives (including idiotic Par Russo) who originally drank NY-NJ water and breathed air there!!!!