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Multinational Monitor
Copyright Multinational Monitor
COPYRIGHT ProQuest. All rights reserved
from April 2004
Last Number: May 2009
ISSN 0197-4637
[Content not included in vLex Global Academic]
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The System Implodes: The 10 Worst Corporations of 2008
It allocated its billions to the company as high-interest loans; it demanded just short of an 80 percent share of the company in exchange for the loans; and it insisted on the filing of the company's CEO (even though he had only been on the job for three months).\n The Ministry of Health, Welfare and Family Affairs listed Fuzeon at $18,000 a year.
Behind The Lines
[...] the World Bank did not entirely withdraw from the pipeline project - its private investment arm, the International Finance Corporation, still has $100 million invested in the ExxonMobil consortium running the pipeline.
Stanley's plea agreement calls for him to receive a seven-year prison term - the longest ever for the bribing of foreign officials.
Workers and their families are housed in crowded shacks without running water, electricity or indoor bathrooms, according to ILRF.
In a country where multinational corporations have wrecked havoc on fragile ecosystems, the new constitution now states: "In the cases of severe or permanent environmental impact, including the ones caused by the exploitation of non-renewable natural resources, the State will establish the most efficient mechanisms for the restoration, and will adopt the adequate measures to eliminate or mitigate the harmful environmental consequences."
Lao rivers have a projected 18,000 megawatts of exploitable hydropower potential - enough to power between 14 million and 18 million houses in the United States. Laos already has six large dams in operation, seven under construction, and at least 12 more in planning and development phases.
The Front
Critics say the investment treaties give multinational companies access to international rules and global forums (like ICSID) that are heavily tilted in favor of private investors. The July 2008 ICSID ruling agreed that Tanzania's conduct had violated its treaty obligations, but found that City Water - the Biwater's subsidiary handling the Dar es Salaam contract - had been operated so poorly that its economic value was "nil."
In 1988, the Reagan administration's Equal Employment Opportunity Commission, not known for aggressive enforcement of civil rights, made headlines by negotiating a settlement under which Honda had to pay a total of $6 million in back pay to 370 African-American and female job applicants for Honda jobs in Ohio.
Publisher
Public Ownership, Public Control
In keeping with the terms of the $700 billion bailout legislation, under which the bank share purchase plan is being carried out, the Treasury Department has announced guidelines for executive compensation for participating banks. The "partial nationalization" also does not obligate the banks to renegotiate mortgage terms with borrowers - the vital step needed to stem the mortgage meltdown that is driving the global economic recession.
Interview
Plunge: How Banks Aim to Obscure Their Losses
Fair value or market value accounting is a requirement for a company to report their assets in their financial statements at what they are worth today - that is, what one could get for them if they were sold in an orderly market to another person. Companies in the U.S. are given the option to use fair value accounting for all such investments and financial instruments, but not for assets such as real estate, manufacturing plants and equipment. It's also worth noting that the two most succes...
The Financial Crisis and the Developing World
When there is a global financial crisis, international investors (pension funds, mutual funds, and of course, hedge funds) become more risk averse, reducing their exposure to emerging markets, Avhich are considered to be riskier than other investments (such as the U.S. treasury notes). Earlier pressures for financial liberalization will likely abate, though it is not clear for how long.\n Deeper financial markets, especially bond markets, can also play useful roles in emerging market economi...
The Centralization of Financial Power
By the end of the 1990s, we had relinquished the separation between commercial banks, investment banks and insurance companies, and had erased other kinds of distinctions that used to keep different types of financial services in narrowly defined categories, each with what was considered to be an appropriate type of regulation. [...] with the mergers of Merrill Lynch and Countrywide Financial into Bank of America, Bear Stearns and Washington Mutual into JPMorgan Chase, Wachovia into Wells Fa...
'Everyone Needs to Rethink Everything'
The severity of the crisis, which I think is the interesting point in question, is because confidence in credit markets and financial institutions collapsed in the middle of September due to the actions the government took with regard to first Lehman and then AIG They decided to let Lehman fail, which was a pretty big judgment call, and then they decided to save AIG two days later, but they saved it in a way that took a lot of value away from the creditors.
'Before That, They Made a Lot of Money'
Before becoming a journalist, Prins worked on Wall Street as a managing director at Goldman Sachs, and ran the international analytics group at Bear Stearns in London. In the case of Bear Stearns, which was the tip of the iceberg in March, its hedge funds collapsed, not because they bought Avhat appeared to be junk bonds - they bought triple-?, high quality, top layer bonds - but because they had no market to sell to, once they had to raise more cash to back them. Investor models were showi...
The net capital rule is and was the rule for ascertaining the financial condition of registered broker-dealers, sometimes called stock brokers or investment bankers. [...]'s a limit as to how far a firm can commit under the traditional net capital rule, in terms of acquiring either equity securities or bonds, or other types of financial instruments, because there are specific capital charges attendant to each position acquired by that broker-dealer. Under the traditional net capital rule, i...
Names In The News
The complaint also enumerates more than 1,500 violations relating to hours worked, with the children sometimes working more than 40 hours a week, without overtime pay, and before 7 a.m. and after 7 p.m. The child labor revelations follow an immigration raid that led to the arrest of almost 400 undocumented workers at the plant.
Chevallier says that in early July 2007 he learned that T'Oreal products in Europe contained a preservative, Kathon CG, above lawful levels and that this information had been omitted from the company's computer system "so as to avoid regulatory department scrutiny."
THE PENNSYLVANIA-BASED BIOTECH COMPANY Cephalon agreed in September to plead guilty to a criminal charge of distributing a misbranded drug and to pay $425 million to resolve lawsuits claiming that it marketed three drugs for uses not approved by the Food and Drug Administration (FDA).
Greed At A Glance
Notes a hotel spokesperson: "We aim to provide all our guests with Mandarin Oriental's legendary service - regardless of whether they arrive on two or four legs!" Some of the world's most financially favored love to pamper fourleggeds.
Vivre, a luxury catalog store that offers a $45 sterling silver ice cream spoon, says sales have gone "softer."
The super rich, says realtor Roger Munns, feel secure in Monaco, where the ritziest neighborhoods have one law enforcement officer for every 100 residents.
Commercial Alert
Strapped for cash, several of the state's schools are in negotiations with marketing firms to sell ads on school buses.
Drug websites also generally do not include "chat" or "comment" functions like many other market- ing websites, because if a consumer were to leave a nega- tive comment about a drug's side effects, the company might be legally required to report that to the FDA as an "adverse event" related to the medication.
Burger Eng has worked hard to incorporate its brand into video games, sometimes providing secret codes for "NFL Street," a topselling football game, and even integrating its King mascot into "Fight Night," a boxing game.
Resources
Carbon Trading
Polluters that emit more than they are allowed must buy enough carbon credits within their country or from other designated developed countries (grouped as "Annex B" countries in the Kyoto Protocol) to match their allocated greenhouse gas emission levels.\n "Using market-based systems to privatize our land, forests and now to commodity the atmosphere is not a sustainable solution," says Tom Goldtooth, executive director of the Indigenous Environmental Network. Yet what few politicians mentio...
Global Warming
A Last Chance to Avert Disaster
Otherwise, it will become impractical to constrain atmospheric carbon dioxide, the greenhouse gas produced in burning fossil fuels, to a level that prevents the climate system from passing tipping points that lead to disastrous climate changes that spiral dynamically out of humanity's control. The disturbing conclusion, documented in a paper I have written Avith several of the world's leading climate experts, is that the safe level of atmospheric carbon dioxide is no more than 350 ppm (parts...