Tag Archives | Multinational Corporations

Goldman Sachs Contains 4,000 Separate Corporate Entities

Including more than 739 companies based in the Cayman Islands alone. Common Dreams on the staggering webs woven by multinationals as they split and grow, bringing to mind primitive, blob-like life forms expanding and engulfing their surroundings:

The London-based Open Data Institute has collected and mapped ccorporate data, much of it made public for the first time, showing the complex relationships between multinational companies and their global subsidiaries. Stunning visuals on the corporate networks of the six biggest banks in the U.S. – Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo, Citigroup and JP Morgan – show the tangled webs they weave.

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Shell, Nestle, Monsanto and McDonald’s Have Biggest Private Spy Outfits

Just as governments spy on activists, so do corporations. In an interview, investigative reporter Eveline Lubbers is asked which corporations have the most extensive intelligence-gathering operations. The answer (maybe) via Parapolitical.com: Royal Dutch Shell, Nestle, Monsanto and McDonald’s.

Are these corporations the worst offenders in general? That is a difficult question, and I have no answer to it in terms of straight figures and statistics. Since most of  these manoeuvres are secret, they remain in the dark (no pun intended). You don’t know what you don’t see.

What I can say from the case studies that I worked on, and from the stories that have come to light in the past few years in the UK and the US, is this. We are not looking at isolated cases, what has come to the surface is more like the tip of the iceberg. I have identified patterns in how police and corporations deal with resistance, with criticism, with campaigners, and how they join forces.

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Will Multinational Corporations Eventually Own Everyone’s Land?

Imperialist OctopusGood question. Julian Whitcrosse writes at io9.com:
Hundreds of years ago, European colonists took possession of much of the surface of our planet through unsubtle means: murder, subjugation, and their special move, bringing horrific new diseases. Nowadays, the wealthy and powerful expand their domains less confrontationally, but the effects can still be pretty harmful. Interests in rich countries — mainly multinational corporations (MNCs) make deals with local governments to attain land for their own big-money projects, sometimes evicting locals from their traditional homes and farmland, and contributing to food insecurity. Over the past 10 years, almost 800,000 square miles of land has been bought or leased (eight times the size of Britain), mostly in Asia and Africa....
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Breaking Apart An iPhone’s Cost

It’s still shocking to see just how little of the profits from an item go towards those who made it. From a piece on the power of transnational corporations, via Reports from the Economic Front:

The production of the iPhone offers one of the best examples of the logic and operation of these transnational corporate controlled cross border production networks.

Not surprisingly, the division of profits, as shown below, reflects the overall hierarchy that structures this and other cross border production networks.

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Wikileaks: U.S. Forced Haiti To Nix Raising Its Minimum Wage To 62 Cents

ouanaminthe_784119Wikileaks unveils an incredibly infuriating revelation, via the Nation. To sum up: desperately poor Haiti planned to raise its minimum wage from 24 cents per hour to 62 cents, angering the contractors for U.S. corporations such as Levis and Hanes, who pay slave wages to Haitians who sew our clothes. The Obama administration intervened on behalf of those companies, and bullied the Haitian government into setting the mark at 32 cents. To put things in perspective, upping the hourly wage to 62 cents would have cost Hanes an additional $1.6 million each year. Hanesbrands turned $211 million in profit last year and CEO Richard Noll personally was paid $10 million.
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How Multinational Companies Benefit From Offshore Tax Havens

LOGOs

NPR‘s daily show, Fresh Air,  Jesse Drucker from Bloomber News engaged in an interesting discussion yesterday about the multinational companies that save billions in taxes by using other countries with lower corporate income tax. What does this mean for the country’s economy, both that of the US and the offshore tax havens? From WHYY on NPR:

The top corporate income tax level in the United States is 35 percent. In the United Kingdom, it’s 28 percent. But in Ireland, it’s only 12.5 percent, and in Bermuda there’s no corporate income tax at all. That means multinational companies that shift their earnings through Ireland or Bermuda can save billions of dollars in taxes each year.

On today’s Fresh Air, Bloomberg News reporter Jesse Drucker, who has written extensively about corporate tax-dodging, explains how companies like Google, Pfizer, Lilly, Oracle, Facebook and Microsoft have managed to reduce their tax rates by hundreds of millions — and in some cases, billions — of dollars by taking advantage of offshore tax havens.

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