Privatization & Procurement

Residents of Northern Indiana feel that a plan to privatize toll roads and raise fares does not benefit the community.
Goldman Sachs, the Wall Street investment bank, is being sued in London for selling Libya "worthless" derivatives trades in 2008 that the country's financial managers did not understand. Libya says it lost approximately $1.2 billion on the deals, while Goldman made $350 million.
A federal judge has dismissed all charges against five Blackwater Worldwide security guards charged in a deadly Baghdad shooting.
The head of a firm hired to audit Iraqi reconstruction spending is under investigation for violation of conflict of interest laws.
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.
In 2003, U.S. Steel bought up the bankrupt Sartid steel mill in the eastern Serbian town of Smederevo for $33 million, the first private enterprise to enter the country after the downfall of former leader Slobodan Milosevic in 2000. On Feb. 1, U.S. Steel sold the mill back for a dollar.
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.
The suicide of a top Air Force procurement officer casts a cloud of suspicion, threatening to plunge a service still struggling to emerge from one of its worst scandals into another quagmire.
CorpWatch unveils major report on corporate profiteering in the wake of Hurricanes Katrina and Rita on the American Gulf Coast.