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Ursachen Und Auswirkungen Ursachen und Auswirkungen von Entstaatlichung öffentlicher Einrichtungen auf die Stadtentwicklung im Kontext einer gesamtgesellschaftspolitischen Entwicklung (am Beispiel der Privatisierung der WOBA Dresden) Magisterarbeit im Studiengang Bauingenieurwesen des Fachbereich Bauwesen HTWK Leipzig Hochschule für Technik, Wirtschaft und Kultur (FH) Mike Nagler Erstprüfer: Prof. Dr.-Ing. Bernd Reichelt Zweitprüfer: Prof. Dr.-Ing. Lothar Pippel Leipzig, August 2007 Kurzfassung 2 Kurzfassung Die vorliegende Arbeit liefert einen Beitrag zur Diskussion um Privatisierungsprozesse kommunaler und staatlicher Unternehmen. Sie setzt sich damit auseinander, inwieweit zentrale Einrichtungen einer Gesellschaft staatlich organisiert und verwaltet werden können oder sollten. Am Beispiel der Privatisierung der Wohnungsbaugesellschaft Dresden GmbH (WOBA) soll auf der einen Seite beleuchtet werden, inwieweit private Unternehmen in der Lage sind, Aufgaben zu übernehmen, die bisher durch die Kommunen erfüllt wurden. Auf der anderen Seite soll analysiert werden, welche Auswirkungen diese Privatisierungen auf die Bürgerinnen und Bürger bzw. die Nutzer haben und welche Konsequenzen daraus langfristig für die Stadtentwicklung zu erwarten sind. Vor allem soll hinterfragt werden, aus welchen Gründen die Diskussion in den letzten Jahren so populär geworden ist und welche Ursachen dazu geführt haben und dazu führen, dass staatliche oder kommunale Unternehmen zunehmend in privatwirtschaftliche umgewandelt werden. Die Arbeit soll am Beispiel der Privatisierung der Dresdner WOBA die entsprechenden Auseinandersetzungen beschreibend erklären, eine Zusammenfassung der verschiedenen Positionen geben, sie gegeneinander abgleichen, eine Bewertung treffen und daran anschließend mögliche Handlungsspielräume für betroffene Kommunen bzw. deren kommunale Unternehmen aufzeigen. Schlagwörter : Privatisierung, Hedge-Fonds, Private-Equity, Investmentfonds, WOBA, Wohnungsbaugesellschaft, FORTRESS, GAGFAH, Dresden, Leipzig, Public Privat Partnership (PPP), Steuern, Europäische Union, Staatsverschuldung, REIT, Banken, Devisenhandel, Bauwirtschaft, Berater, Politik, Korruption, Rekommunalisierung, Vergesellschaftung. Inhaltsverzeichnis 3 Inhaltsverzeichnis Kurzfassung.................................................................................................................2 Inhaltsverzeichnis........................................................................................................3 Abbildungsverzeichnis ................................................................................................5 Abkürzungsverzeichnis...............................................................................................7 1 Einleitung, Problemstellung und Zielsetzung..................................................9 2 Die Wohnungsbaugesellschaft Dresden.........................................................12 2.1 Geschichte bis zur Privatisierung......................................................................12 2.2 Wirtschaftliche Entwicklung und Bedeutung für die Stadt ................................15 2.3 Haushaltslage der Stadt Dresden vor dem Verkauf ...........................................20 2.4 Einnahmestruktur der Kommunen ....................................................................22 3 Privatisierungsdebatte....................................................................................28 3.1 Beschreibung der Akteure und Chronologie der Debatte...................................29 3.2 Argumente der Gegner und Befürworter der Privatisierung ..............................34 3.2.1 Finanzpolitische Argumente.............................................................................35 3.2.2 Sozialpolitische Argumente..............................................................................37 3.2.3 Stadtentwicklungspolitische Argumente ...........................................................39 3.3 Haltung der Medien..........................................................................................41 3.4 Der Investor FORTRESS .................................................................................44 4 Privatisierung .................................................................................................48 4.1 Muster und Merkmale der Privatisierung am Beispiel der WOBA DRESDEN GMBH (Mikroebene) ....................................................................48 4.2 Vergleich der Privatisierung der WOBA DRESDEN GMBH mit anderen Privatisierungen in Deutschland (Mittlere Ebene).............................................51 4.3 Der Begriff Privatisierung im allgemeinen (Makroebene).................................67 4.3.1 Formen der Privatisierung ................................................................................69 4.3.2 Geschichte der Privatisierung in Deutschland ...................................................72 4.4 Akteure ............................................................................................................77 4.4.1 Hedge-Fonds und Private-Equity......................................................................77 4.4.2 Banken.............................................................................................................93 4.4.3 Berater .............................................................................................................96 4.4.4 Politik...............................................................................................................98 5 Ursachen der Privatisierung ........................................................................103 Inhaltsverzeichnis 4 6 Finanzflüsse und Steuern .............................................................................109 7 Weitere Entwicklung nach dem Verkauf der WOBA Dresden ..................114 7.1 Konzentration auf Kerngeschäft (Outsourcing)...............................................116 7.2 Exitstrategie ...................................................................................................117 7.3 Real Estate Investment Trust ..........................................................................120 8 Auswirkungen...............................................................................................126 9 Zusammenfassung und Fazit .......................................................................138 10 Handlungsspielräume und Alternativen......................................................143 Anhang.....................................................................................................................148 Literaturverzeichnis................................................................................................174 Erklärung ................................................................................................................193 Abbildungsverzeichnis 5 Abbildungsverzeichnis Abbildung 1 : Unternehmensstruktur der WOBA vor der Privatisierung......................13 Abbildung 2 : Die Anteile der WOBA-Wohnungen am Gesamtwohnungsbestand.......16 Abbildung 3 : Vermögens- und Finanzlage der WOBA DRESDEN GMBH................18 Abbildung 4 : Verbindlichkeiten der WOBA DRESDEN GMBH................................19 Abbildung 5 : Zusammensetzung des Konzernergebnisses für 2005. ...........................19 Abbildung 6 : Schuldenentwicklung zwischen 1994 und 2004 der zwölf größten deutschen Städte (außer Stadtstaaten)..................................................23 Abbildung 7 : Steuerfinanzierung der Kommunen. ......................................................24 Abbildung 8: Handelsfelder der FORTRESS Investment Group LLC.........................45 Abbildung 9 : Häufige Preisentwicklung nach Liberalisierungen. ................................60 Abbildung 10 : Zahl der verkauften Wohnungen im Zeitraum 1999 bis Ende 2006......62 Abbildung 11 : Durchschnittlicher Verkauf pro Wohnungen im Zeitraum von 1999 bis Ende 2006 .....................................................................................62 Abbildung 12 : Erst- und Wiederverkäufe bezogen auf den Zeitraum 1999 bis Ende 2006....................................................................................................64 Abbildung 13 : Verkaufte Wohnungen im Zeitraum 1999 bis Juni 2006 und gesamter Wohnungsbestand nach Lage im Ballungsgebiet und Grad der Anspannung des Wohnungsmarktes..............................................64 Abbildung 14 : Erstverkäufe und Wiederverkäufe von Wohnungsbeständen im Zeitraum von 1999 bis Juni 2006 ........................................................65 Abbildung 15 : Die weltweit größten Investmentmanager............................................80 Abbildung 16 : Entwicklung von Buyout-Transaktionen .............................................81 Abbildung 17 : Typische Akteurskonfiguration von Hedge-Fonds...............................85 Abbildung 18 : Funktion von Hedge-Fonds. ................................................................86 Abbildung 19 : Funktion von Private-Equity-Fonds.....................................................87 Abbildung 20 : Entwicklung der Private-Equity-Exits seit 2004. .................................89 Abbildung 21 : Geplante Exits von Opportunity- und Private-Equity-Fonds................91 Abbildung 22 : Entwicklung der Gewinnsteuersätze in der EU..................................111 Abbildung 23 : Zeitliche Entwicklung von Einkommen und Steuern in Deutschland.112 Abbildung 24 : Schuldendienstentwicklung mit und ohne WOBA-Verkauf...............126 Abbildungsverzeichnis
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