Word: profit
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...tend to the community's spiritual needs, but also to prevent what they see as the sale of their patrimony to the Israeli enemy. "The Greek Orthodox Church is led by foreigners," says Dimitri Diliani, a Palestinian Orthodox Christian leading the campaign against Eirinaios. "They make personal profit and don't work in the best interests of the Christian community." This week, senior clerics in Jerusalem are expected to elect a provisional leader to administer the Patriarchate until elections for a new Orthodox prelate are held. Even if Eirinaios fights to keep his job, the embattled Patriarch is likely...
...Prahalad argues that squeezing profits from people with little disposable income isn't capitalist exploitation. In fact, tapping the spending power of the poor can reduce poverty, he maintains. Expansion by multinationals into new markets creates new jobs and income earned from those jobs ripples through local economies, creating more new jobs. "This creates a large pool of individual entrepreneurs who are participating in an expanded economy," says Prahalad. "The company makes more profit, and the people's lifestyle changes." The poor also benefit because they have access to services such as banking and insurance that once were denied them...
...Friday; the company didn't comment. Why the flurry? Private equity funds typically oversee big management and strategic changes after a buyout, including closing down or dumping money-losing assets. But they're not long-term owners; they usually hope to sell their holding for a profit after four to five years. Many public firms have grown weary of the bureaucracy and expense required to keep regulators satisfied. And Mark Pacitti, a corporate finance partner at consultants Deloitte in London, notes that "private equity will make the difficult decisions that established [public] companies may be reluctant to do." Such cold...
...three years in the making. The author is British human-rights researcher Guy Horton, who was inspired to do the study by his friend, British academic Michael Aris, the late husband of pro-democracy activist Aung San Suu Kyi. Produced with funds from the Dutch government and non profit organizations, the report draws on material collected from Horton's own trips to Burma plus a wide range of documents, photographs and maps sourced from different Burma-interest groups. It's the first time that alleged abuses by the junta?among them systematic rape and forced labor?have been so comprehensively...
...expect the campaigning to stop just yet, though. In a scathing report published last year, "Principles, Profit or Just PR?", BankTrack accused many companies 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 protection of indigenous peoples. BankTrack suggested the Turkish...