Privatization & Procurement
Six days a week, US military fighter planes drop bombs a mile from the South Korean village of Maehyang-ri. The bombing range isn't run by the US Air Force and it isn't run by the US Army. It's been privatized and is under the management of Arctic Slope World Service.
For more than 12 years, Falls Church-based USIS quietly scrutinized the backgrounds of individuals who needed security clearance to work in the U.S. government or in the private sector. Now re-named Altegrity, the company has ambitions of securing government contracts for much more than investigation and data-collection.
Residents of Northern Indiana feel that a plan to privatize toll roads and raise fares does not benefit the community.
Three top executives at Anglo Irish bank are on trial for a secret scheme to buy their own bank's shares that eventually triggered the 2008 collapse of the Irish economy. The bankers allegedly hatched the plan to cover up bets made by Sean Quinn, once Ireland's richest man.
After two years of public hearings, litigation, testimony and negotiations and more than 11,500 letters, phone calls and emails to state decision makers, New Jersey consumers avoided higher electricity rates when Exelon walked away from its takeover bid to buy-out Public Service Enterprise Group, PSEG, a publicly traded energy and energy services company headquartered in New Jersey.
Four years after the disintegration of the financial system, 24 million people jobless or underemployed. Yet claims of financial fraud against companies like Citigroup and Bank of America have been settled for pennies on the dollar, with no admission of wrongdoing. Executives who ran companies that made, packaged and sold trillions of dollars in toxic mortgages and mortgage-backed securities remain largely unscathed.
Charles M. Smith, the senior civilian overseeing the multibillion-dollar contract with KBR during the first two years of the war, says he was ousted for refusing to approve payment for more than $1 billion in questionable charges to KBR. The Pentagon has recently awarded KBR part of a 10-year, $150 billion contract in Iraq.
The Chilean government has granted Endesa, a Spanish corporation, permission to carry out exploratory studies in the south of the country for the purpose of building four hydroelectric plants, in a move opposed by environmentalists, who are planning several demonstrations.