Word: corps
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...corporate fraudsters who may be facing long prison terms [March 28]. You reported that "Ebbers said he was too ignorant about accounting to detect the financial crimes of his underlings." John Rigas, ceo of Adelphia Communications, "claimed he was ceo in name only." And Richard Scrushy, CEO of HealthSouth Corp., "thought his financial officers, though aggressive, were operating within the confines of the law." It is stunning how men who claim to be so clueless came to run huge companies and earn salaries that would make Croesus blush. I would like the board of directors of any corporation looking...
...people still won't buy it." The Daimler people are hoping that won't happen to them. The troubles at Daimler follow years of restructuring after the 1998 merger of Daimler and Chrysler, and persistent quality problems at the Japanese commercial-vehicle subsidiary, Mitsubishi Fuso Truck & Bus Corp. But quality is what the Mercedes brand is especially known for, and that's the area where the firm is hurting itself most. Customer complaints prompted the record recall, and even German taxi drivers are switching allegiance. Since 2001, Mercedes' share of new taxi registrations in Germany has fallen to around...
...other corporate fraudsters who may be facing hard time [March 28]. You reported that "Ebbers said he was too ignorant about accounting to detect the financial crimes of his underlings." John Rigas, CEO of Adelphia Communications, "claimed he was CEO in name only." And Richard Scrushy, CEO of HealthSouth Corp., "thought his financial officers, though aggressive, were operating within the confines of the law." It is stunning how men who claim to be so clueless came to run huge companies and earn salaries that would make Croesus blush. I would like any corporation looking for a new CEO to know...
...Monday, the Harvard Corporation Commitee on Shareholder Responsibility (CCSR) announced the University would sell its stake in PetroChina, an off-shoot of the China National Petroleum Corp. (CNPC), which has spent more than $1 billion developing Sudan’s oil resources. According to the CCSR’s statement, “substantial revenue from Sudan’s oil production has gone toward the purchase of weapons.” The Sudanese government has armed the Janjaweed militiamen who have slaughtered tens of thousands of villagers in the western region of Darfur...
...majority stake in Yanhua is still owned by the state-controlled Sinopec Corp., but 30 percent of Yanhua’s shares are traded publicly on the New York and Hong Kong exchanges...