Word: bp
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...you’re here early and see BP, he puts on a show,” Walsh said. “Here’s a kid that came in and got no playing time his first year, then a little bit of playing time. He got a hold of one and drove it pretty good...
...just yet, though. In a scathing report published last year entitled Principles, Profit or Just PR?, BankTrack accused many firms of failing to deliver on their lofty principles. The report highlighted the decision by nine Equator Principles banks - including ABN Amro, Italy's Banca Intesa and Citigroup - to fund BP's controversial Baku-Tbilisi-Ceyhan (BTC) pipeline, which will run through Azerbaijan, Georgia and Turkey to bring Caspian Sea oil to the West. The project, argued BankTrack, violates the Equator Principles in key areas, notably in regard to the protection of indigenous peoples. The ngo suggests the Turkish government...
...billion deal to acquire Eldorado, Russia's leading specialist retailer of consumer electronics and domestic appliances, with more than 600 stores. But Dixons is still nervous about the Russian investment climate, and its worries haven't been helped by recent problems at high-profile Western firms, including BP. So the firm agreed to start paying for Eldorado only in 2008. In essence, Dixons has given itself a three-year trial period to determine if it really wants to be in Russia. "It's a no-risk option," says Dixons spokesman Hamish Thompson...
...Foreign firms, too, are vulnerable. Russian tax authorities recently slapped BP's oil joint venture in Russia, TNK-BP, with a $1 billion back-tax bill for 2001. The move has caused dismay at BP in London and prompted Chief Executive John Browne to schedule a trip to Moscow last week, where he met personally with Putin. Meanwhile, the Japanese tobacco company JTI, which makes Winston and Camel brands at a $400 million state-of-the-art factory it built in St. Petersburg, is embroiled in a furious court battle with authorities over a more than $80 million tax demand...
...It’s really fun to watch him take BP,” Farkes says, adding one word for Mann’s power: “incredible...