Bribery, Fraud & Tax Evasion
In a secluded valley a few miles from Kabul's international airport, $285 million in U.S. taxpayer dollars have flowed into a Black & Veatch-built power plant outside Tarakhil village. But, far from the public relations coup the project was intended to supply, the plant has run into problems with planning, cost over-runs and alleged corruption.
U.S. companies remain less accountable than European and Asian ones despite recent years' damaging revelations of management chicanery involving finances, labor relations, environmental performance, and consumer protection, a global survey said Friday.
West African cotton farmers are among those hardest hit by government subsidized corporate agriculture. This week in Hong Kong, trade ministers from the 148 members of the World Trade Organization meet to discusss this and other global free trade issues.
Corporations carry out some of the most horrific human rights abuses of modern times, but it is increasingly difficult to hold them to account. Economic globalization and the rise of transnational corporate power have created a favorable climate for corporate human rights abusers, which are governed principally by the codes of supply and demand and show genuine loyalty only to their stockholders.
The medieval alchemists claimed they could turn ordinary metals into gold. Analysts at Standard & Poors (S&P), Wall Street's top ratings agency, claimed that bad loans to poor people were wildly profitably. A U.S. government investigation alleges that S&P financial analysts are no different from the hucksters of yore.
A federal court ordered a retrial for Deutsche Bank CEO Josef Ackermann and five others on Wednesday over large payments to executives during Vodafone PLC's 2000 takeover of rival mobile phone company Mannesmann AG.
NEC, the Japanese electronics company, Tuesday said that 10 rogue employees placed fake orders worth Y2.2bn ($200m) and accepted kickbacks worth Y500m, which they spent on personal wining and dining.
England's House of Lords ruled that the Serious Fraud Office was lawful in its actions to halt investigations into allegations that BAE Systems ran a Â£60m "slush fund" and offered sweeteners to officials from Saudi Arabia in return for lucrative contracts.
President Bush's corporate champions see the spoils of his administration in coal. And timber. And credit-card payments, Afghan electric lines, Japanese bank transfers and fake crab.
Electronic Voting Machines Add Uncertainty to Close Election Race Across the U.S., dozens of election commissions, county clerks and voting registrars are scrambling to maintain public confidence in an election system shaken by the Florida 2000 debacle and challenged by security flaws in hi-tech electronic solutions. In the swing states, where the presidential election is expected to be close, 14 of 20 states will be experimenting with untested technology.