Word: exxonmobils
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When he walks into a room, Rex Tillerson radiates competence and stability. In a world grown weary of the shenanigans of energy companies like Enron, the oilman commands respect--and earns it--by pumping twice as much oil out of the ground as Kuwait does. As ExxonMobil's senior vice president for exploration and production, he was responsible for 80% of the $11 billion profit generated last year by the world's largest private oil company. The challenge: Can Tillerson, 51, ride that success to become...
...watched, because the oil company is just one of many big U.S. companies facing similar court cases, a potential minefield for multinationals. Other targets include Fresh Del Monte Produce, which is being sued by Guatemalan laborers that claim the firm hired goons who kidnapped and tortured union organizers, and ExxonMobil, which faces claims by Indonesian villagers that the oil company is liable for the brutality of local security forces - both companies deny these claims. "We want to establish that multinationals, which are among the biggest players in the global economy, are bound by the rule of law," says Terry Collingsworth...
...just one of many big U.S. companies facing similar court cases, a potential minefield for multinationals that do business in unsavory nations. Other targets include Fresh Del Monte Produce, which is being sued by Guatemalan laborers who say the firm hired goons who kidnapped and tortured union organizers, and ExxonMobil, which faces claims by Indonesian villagers that the oil company is liable for the brutality of local security forces. "We want to establish that multinationals, which are among the biggest players in the global economy, are bound by the rule of law," says Terry Collingsworth, executive director of the International...
...reputation among foreign investors as perhaps the most Western-like company in Russia. It has a cluster of Americans on its board; among top management, it uses U.S. accounting standards; and it was the first Russian company to detail its precise ownership structure. Yukos has been talking with both ExxonMobil and ChevronTexaco about the possible sale to one of them of as much as 40% of its equity, according to people familiar with the negotiations...
...Other targets include Fresh Del Monte, which is being sued by Guatemalan laborers who say the firm hired goons who kidnapped and tortured union organizers, and ExxonMobil, which faces claims from Indonesian villagers that the oil company is liable for the brutality of local security forces. "We want to establish that multinationals, which are among the biggest players in the global economy, are bound by the rule of law," says Terry Collingsworth, executive director of the International Labor Rights Fund, which is backing many of the lawsuits. More than two dozen cases have been filed against companies doing business...