Word: shinning
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...colossus of the North. In Seoul, the attempt by U.S. corporate raider Carl Icahn to get a seat on the board of tobacco company KT&G has, says Jang Hasung, dean of Korea University's business school, "reignited anti-foreign-investor sentiment." The sale of a controlling interest in Shin Corp., owner of Thailand's leading telecommunications company, to Temasek Holdings of Singapore has been one of the catalysts for the Bangkok demonstrations against Thai Prime Minister Thaksin Shinawatra, whose family controlled Shin Corp. In France, an effort by the Italian gas company Enel to acquire Groupe Suez appears...
...overall trends in investment, trade, tourism or other forms of interchange." Sometimes, to be sure, complaints about trade and foreign ownership mask other issues. Thais may have marched on the Singapore embassy chanting "Thailand's not for sale!" but it was Thaksin, and his windfall from the sale of Shin Corp., that they had in their sights. "If [Singapore] took over a glass factory," says Kasit Piromya, a former Thai ambassador to the U.S., "it wouldn't be a problem. But this was a deal with the Prime Minister...
...right) are crony capitalists who bully their opposition and the media. To their supporters, they're men of action, a welcome contrast to ineffective leaders of the past. Now, however, both have problems: Thaksin faces street protests demanding he resign over the $1.87 billion sale of his family's Shin Corp. media empire, while Fininvest media mogul Berlusconi, trailing in the polls before Italy's April 9-10 election, is accused of conspiring to give false testimony in a corruption case against him. They have other things in common...
...best way would be for Thaksin to repent, to say: Okay, I did everything by the rules, but there are ethical issues. His best way would be to go back and pay tax on the sale of Shin Corp. and try to do something with the deal so Thais retain majority control. If he does that, maybe he can reduce the tension. He should do that, stay on for a while, then leave politics...
...BRIDGET WELSH Assistant professor of Southeast Asian Studies, Johns Hopkins School of Advanced and International Studies, Washington D.C. When the Shin Corp. deal happened, that tipped people to say enough is enough. But Thaksin created the situation. He felt invulnerable, dismissed his critics and thought he could push things through with sheer force of personality. The Thais will put up with a lot, and then they can be as hard as anyone else...