Behind the Bettencourt affair: the battle for L'Oréal

By
This article is open access. Information protects us. I subscribe

All comments

He wouldn't do worse by attempting to write terse. One would think he'd be succinct, our dear mister Tearse, but alas he writes a rather wordy verse. Perhaps it's the pressure of time that dictates his dead-lines. To differ you may beg, but let me enjoy pulling his leg.

Clin d'oeil

les lecteurs francophones n'ont pas le droit de savoir?

Ce n'est qu'une traduction adaptée d'articles publiés en français, pour élargir l'audience hors de nos frontières. Nous, lecteurs francophones, sommes donc les premiers au parfum. Don't worry.

L'article aborde un aspect du dossier sur le rôle de Lindsay Oxwen Jones et Patrick de Maistre dans la gestion de L'Oréal et la nue propriété des actions par Françoise Meyers-Bettencourt. Je n'ai pas le souvenir d'avoir lu une telle analyse en français, mais je ne peux pas tout lire non plus.

 

Hi POJ,

It is in the original article 'Owen-Jones, un président qui aime les coulisses', which you will find it on page 4 of the Bettencourt dossier (click on 'Bettencourt' at top of Mediapart Home Page).

Time shall unfold what plighted cunning hides

Who cover fault at last then shame derides

  • New
  • 07/10/2010 17:38
  • By

You say : "Françoise Bettencourt-Meyers, 57, accused Banier of abusing her mother's mental frailty to acquire the fortune, which was handed to him in cash, insurance policies and artworks."

No notes however that François Marie Banier was the lover of Andrew Bettencourt. It changes everything about the critical nature of donations received until the death of Andre Bettencourt. French law allows donations through adulterous relations. It would be discriminatory to deny it to homosexuals.

I think so there is no more matter Banier-Bettencourt, but essentially a political matter involving financial advisers Lilianne Bettencourt (lawyer, notary, accountant, bank, etc.) and politicians who receive money.
That's the reason why the prosecutor, subject to political power, refuses the action of an independent judiciary, because the case demonstrates the collusion existing at the top of French society
what can undermine the trust of foreign investors (at least those who are always honest or naive, if it still exists).
The case Bettencourt
reveals social corruption between the French notables. Unsavory and unrespectable people who organize themselves to get rich by exploiting the misery of poor countries with the connivance of state selling weapons to better deprive people of their natural resources.

France is no longer the country of human rights. Like U.S. or China or Britain, it's just another country of bourgeois rancid and bitter. Flaubert had made the right diagnosis. Nothing new under the sun, even at Austerlitz.

That's the ideology of globalization which is sold by the IMF - headed by a renowned French Socialist - and World Bank. France, pretentiously maintained his opinion in the illusion of being much better. That's now finished.
The case Bettencourt reassures markets, the USA, China, and all other major destroyers of the planet and the Human being.

Sorry for my bad english.

SMOKE & MIRRORS.

Thank you for exploring the corporate complexities of the case. It seems to me that the French press focuses on the "tastier morsels" and ignore what must be, in my view, the crux of this story. On one side we have the Bettencourt clan, heirs of collaborationist France, and on the other, we have the Nestlé one, led by King in waiting Jean Pierre Meyers, husband of the mega wealthy future heiress and son of a rabbi. This is History ! There is almost a Shakesperian streak to this story.

I would just ad to your rather complete piece, that Mr. Meyers, Mrs. Bettencourt's son in law and future full co-owner of 28% of Loreal as well as 3% of Nestlé, and is already:

  1. Chairman of the Schueler Foundation,
  2. Vice Chairman of Loreal's Board
  3. Chairman of Nestlé's Compensation Committee.

Although this very discrete man seems to have worked very hard at cornering the Bettencourt's assets, surprisingly his name is seldom mentioned in this story.

In the mean time we are being amused by François Marie Banier side show. It's all smoke and mirors to me.

No mobilization without confidence
No trust without truth
Support us

This article has been censored

A ruling by the Versailles court of appeal on July 4th 2013 has ordered that Mediapart must remove from its website all articles which contain extracts from the so-called ‘butler tapes’ at the heart of the Bettencourt affair. The penalty for not doing so is 10,000 euros per article per day (effective from July 21st). Mediapart has appealed against the ruling.