Word: texaco
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Texaco is not a nice company. Recent revelations about blatant racial discrimination within the corporation as well as the destruction and suppression of evidence have prompted Jesse Jackson and other leaders to call for a nationwide boycott of Texaco. Although a discrimination suit was recently settled for a record $176.1 million, former employees of the Texas oil giant are now being prosecuted for obstruction of justice...
What remains to be seen is how Texaco's dramatic--if belated--change of heart plays out in practice. Some consumers may decide to wait a bit before they trust their car to the man who wears the star...
Such findings speak far more tellingly about the racial climate inside Texaco than the distracting fuss that erupted last week over whether the N word was actually used by taped executives...
...despite all the red flags, Texaco's stockholders did next to nothing. They could have put serious pressure on the company to clean up its act, but until Texaco's racial climate became a public embarrassment, most of them ignored the issue. For the past four years, New York City's Interfaith Center on Corporate Responsibility, an ecumenical group that invests in companies so that it can have a voice in their policies, has introduced resolutions to make Texaco more accountable by disclosing data about its employment practices. But, says the I.C.C.R.'s Gary Brouse, such efforts have failed because...
...institutional investors who did vote with I.C.C.R. is New York State comptroller H. Carl McCall, who manages a portfolio that includes 1.2 million Texaco shares. "As shareholders, we have a responsibility to demand an accounting from companies on how they plan to deal with these kinds of issues, because it's clear that if a company has an image of diversity, it's more acceptable to consumers and therefore more profitable," McCall says. "The market reacts negatively to companies where there's a perception that the culture supports discrimination...