Word: investor
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Dates: during 2000-2009
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...compensate it for $970 million in profits it would lose as a result of a California MTBE phaseout. CEO Pierre Choquette asserts, "We believe the ban of MTBE was politically motivated" to favor the U.S.-made gasoline additive ethanol "and has no scientific merit." The company's director of investor relations, Brad Boyd, says, "California should make sure its underground gas tanks don't leak. That's what would protect the public...
...amendment, on any treaty the President offered. The idea is to protect hard-bargained agreements from pork-barrel politicking. The bill passed the House by only one vote last December, as even longtime free traders worried about the potential threat to the U.S. of the Methanex case and other investor challenges. Waving 5,000 pages of trade agreements, Representative Robert Matsui, a California Democrat, argued that new treaties could affect federal laws on matters from food safety to monopolies. "Trade is no longer primarily about tariffs and quotas," he said. "It's about changing domestic laws." In the Senate, Massachusetts...
...stakes are high. The Administration wants to extend NAFTA to 31 more countries in Latin America. If investor protections are also offered through the World Trade Organization, Methanex-style suits could spread through the global trading system. That would open the U.S. to corporate claims from scores of countries, but the effect on Third World nations might be even more dramatic. Could a developing country stand up to a timber giant wanting to clear-cut the rain forest? A multinational retailer flouting labor laws? Says Mary Bottari, of Public Citizen's Global Trade Watch, a liberal activist group: "The mere...
...richest Americans. Given all the overlap one wonders if they’re not pandering to billionaire vanity—and a look at the top of the list is a pretty interesting commentary on the state of the economy. Predictably, Microsoft founder Bill Gates and the preternaturally genius investor Warren Buffett occupied the top spots. What is most striking, however, is that five of the ten richest people in the world have the same last name: Walton. They are the widow and four children of the late Sam Walton, founder of Wal-Mart, who if alive today would...
...Foreign investments in the country surged 32% to $28 billion in the fiscal year ending last March, according to just-released government figures. In 2001, foreigners accounted for almost a third of the mergers and acquisitions, says Thomson Financial, up from only 13% the year before. GE Capital, investor Wilbur Ross and the private-equity arms of firms such as J.P. Morgan are committing billions of dollars. "Despite all the uncertainties, there comes a point where you just can't ignore the opportunities here," says John Lewis, a partner at J.P. Morgan in Tokyo...