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Rolls-Royce car sales soared to a new record last year. Photo / Supplied A record number of Rolls-Royces was sold worldwide last year, the latest indicator that the super-rich remain insulated from global economic strife. China leapfrogged the US to become the biggest buyer of Rolls-Royces for the first time in the group's 107-year history as sales to the country soared by 67 per cent to more than 1,000. Americans were the next biggest buyer of the emblem of luxury, with sales in the US rising 17 per cent to a record of about 990 vehicles.
Top global electronics and consumer supplier Apple has come under severe criticism from a group of Chinese environmentalists who claim the company is being secretive about its pollution and social responsibility record. By Jeremy Torr. Electronics workers in China often work long hours with very little holiday or spare time Shanghai, 22 Jan 2011 . Giant electronics corporation Apple has been branded in a recent report as a serious environmental pollution offender. The report, by Chinese green organization called the Green Choice Initiative (GCI), claims Apple has been guilty of supporting polluting practices through its suppliers, and also of dodging questions about the results of that pollution – including poisoned workers. The report, which looked at 29 international companies which subcontracted much of their manufacturing to Chinese factories and suppliers, ranked Apple in last place for its response to hard questions asked on environmental and worker issues.
Auditors, and probably bankers, would need to go beyond accounting standards and look at the business deals of an entity to detect sham transactions. Max Amsterdam said “Business is the art of extracting money from another man's pocket without resorting to violence”. The investigations into the 2G scam have revealed a trail of monetary transactions involving business houses indulging in the heady amalgam of business transactions in lieu of political favours received. Private limited companies have been liberally used to route these transactions as public limited companies have more disclosure requirements, especially if they are listed.
MIAMI - Wealthy American clients of Swiss bank UBS AG used sham corporations set up in havens from Hong Kong to the British Virgin Islands as part of their efforts to evade US taxes, according to documents filed in Florida and California court cases. The shell corporations, or “pass-through entities,’’ were key elements of the tax-evasion schemes, but they also helped federal investigators snare the UBS clients. It’s cheap to set up the shell corporations in countries with little or no income tax and a lenient regulatory system, said Martin Press, a tax attorney with the Gunster law firm in Fort Lauderdale, Fla. The most recent UBS client to plead guilty to tax charges, John McCarthy of Malibu, Calif., used a Hong Kong-based entity called COGS Enterprises Ltd. to open a UBS account in 2003. A statement of facts signed by McCarthy shows that he had more than $1 million transferred from his US-based businesses to the secret UBS account opened in the COGS name.
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Yes, Everyone Really Does Hate Performance Reviews by Samuel A. Culbert
Those Who Can’t, Get Promoted. But let’s face it. Few managers get their jobs because of their keen understanding of people, or their ability to bring people together when there are misunderstandings and differences. Most managers have never been taught how to be good managers. It’s almost as if they learn to be managers the same way they learn how to do performance reviews: by filling in the blanks. Instead of being guided by an understanding of human nature, treating the people who work for them as unique human beings, they base their actions on self-serving logic and clumsy attempts at control.
The sham of corporate taxes: Who is actually being dishonest? by Tom Wright Most people believe we instituted corporate income taxes to reduce the tax burden elsewhere particularly on low-income/fixed-income Americans and to ensure that our corporate citizens pay their fair share for the economic opportunities our great country offers. Unfortunately, even a modest study of the history of taxation will quickly demonstrate that no corporation (or other similar corporate structure) in the recorded history of civilization has ever paid one thin dime or shekel or farthing or picayune or cowrie shell in taxes.
Corporate taxes are now and always have been a political game. By Jack E. Lohman
The Sham of Corporate Social Responsibility in the UK - Weekly Bulletin | Terry Forsey Software Sales and Marketing Expert CoachWeekly Bulletin November 2011 Corporate Social Responsibility is promoted as corporate self-regulation whereby a business ensures its active compliance with the spirit of the law, ethical standards, and international norms. Wikipedia states that “the goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere.”
New York. Milton Friedman once said companies cannot be socially responsible because they only exist to make as much money as possible. The late Nobel laureate economist would appreciate what is going on now: A historic environmental disaster caused by a company that went out of its way to tout itself as the ideal corporate citizen. BP spent the past decade using splashy ads to promote itself as a green company. It even ditched the name it had for nearly 60 years, British Petroleum, and built an image that it was looking out for a better world. What those ads glossed over is that the oil business remains dirty, dangerous and carbon-spewing.
Corporate welfare is an unofficial term used to describe government subsidies and tax breaks that support American businesses and industries. The term implies that these subsidies are equivalent to the government assistance, or welfare, traditionally provided to poor persons. It is also sometimes called "corporate pork." "During one of the most robust economic periods in our nation's history," according to a 1998 Time magazine cover story, "the Federal Government has shelled out $125 billion in corporate welfare, equivalent to all the income tax paid by 60 million individuals and families." No accurate figures existed for the additional amount handed over by state and local governments, but Time claimed that it was certainly "in the many billions of dollars each year" and still growing.
Seven Stories Press, 2000 Introduction Corporate welfare-the enormous and myriad subsidies, bailouts, giveaways, tax loopholes, debt revocations, loan guarantees, discounted insurance and other benefits conferred by government on business-is a function of political corruption. Corporate welfare programs siphon funds from appropriate public investments, subsidize companies ripping minerals from federal lands, enable pharmaceutical companies to gouge consumers, perpetuate anti-competitive oligopolistic markets, injure our national security, and weaken our democracy.
Physicians For A National Health Program Join Occupy Wall Street Protesters For Rally On Sunday Against Corporate Greed Of Insurance CompaniesPhysicians for a National Health Program will protest against corporate greed in the medical field at Zuccotti Park on Sunday. (Credit: Physicians for a National Health Program) NEW YORK (WCBS 880) – Doctors and nurses are joining the Occupy Wall Street movement on Sunday afternoon at Zuccotti Park to share their frustration over a lack of adequate healthcare for the 99 percent. LISTEN: WCBS 880′s Monica Miller reports
'The fact is that the people who made out like bandits, shoved money into their own pockets by the bucketful, and drove our economy into a crisis, have no apparent shame.' - Larry Brown. By Larry Brown National Secretary-Treasurer National Union of Public and General Employees (NUPGE) Ottawa (26 Oct. 2009) -It’s pretty clear that for too many Canadians, times are tough. As just one example, Nortel workers and retirees are facing huge losses of their pension plans, their severance, and their disability protection, because to all intents Nortel has gone belly-up. But not all current or former Nortel employees are facing these problems.