So Much Time, So Little To Do
That immortal line from Willy Wonka and the Chocolate Factory may explain why 75 descendants John D. Rockefeller acted as "shareholder advocates" seeking to reorganize Exxon/Mobil. They were voted down, 60+% to 39+%, in an attempt to separate the jobs of Chairman and Chief Executive Officer.
They want Exxon/Mobil to be "more responsive" and "change its ways." They want it to get into businesses other than the one that it does with almost unmatched success. They want it to be more like its largest shareholder-owned competitors (who rarely match Exxon/Mobil's success).
Second City used to do a skit in which Lenin and Stalin debated Communism -- as Marx turned over and over in his grave. The founder of Standard Oil must have set an RPM record as his descendants (who hold 6/1000 of one percent of the shares of Exxon/Mobil) tried to impose their will.
If they owned the company, they might have succeeded -- if they still held the same position. That position seems to ignore the majority of shareholders, who count on Exxon/Mobil returns and success as they prepare for retirement. Read more!
That immortal line from Willy Wonka and the Chocolate Factory may explain why 75 descendants John D. Rockefeller acted as "shareholder advocates" seeking to reorganize Exxon/Mobil. They were voted down, 60+% to 39+%, in an attempt to separate the jobs of Chairman and Chief Executive Officer.
They want Exxon/Mobil to be "more responsive" and "change its ways." They want it to get into businesses other than the one that it does with almost unmatched success. They want it to be more like its largest shareholder-owned competitors (who rarely match Exxon/Mobil's success).
Second City used to do a skit in which Lenin and Stalin debated Communism -- as Marx turned over and over in his grave. The founder of Standard Oil must have set an RPM record as his descendants (who hold 6/1000 of one percent of the shares of Exxon/Mobil) tried to impose their will.
If they owned the company, they might have succeeded -- if they still held the same position. That position seems to ignore the majority of shareholders, who count on Exxon/Mobil returns and success as they prepare for retirement. Read more!
Wednesday, May 28, 2008
A Deal's A Deal -- Unless Congress is Involved
Two years ago the US Trade Representative and Government of Colombia negotiated a Free Trade Agreement. Then, after the agreement was reached, the Congressional Leadership demanded tougher provisions on labor, the environment, patent and trademark protection and others. (It contained such provisions, but advocates of renegotiation won the day). The USTR had to renounce the deal and renegotiate. So much for America's word.
It it gets worse. To prevent further "need" for renegotiated FTAs, Congress and the Administration came to (May 7, 2007) Bi-Partisan Consensus on specific provisions of future FTAs. So maybe a deal's a deal from now on.
But a month ago the Administration sent the new Colombia FTA to the Hill, and the House Speaker changed the rules to eliminate the timetable for an up-or-down vote, virtually killing chances for a vote on the FTA -- and robbing Americans of an immediate chance to export goods and improve our economy.
Remember, most Colombian goods imported to the US are duty- and tariff-free; most US goods sold into Colombia face heavy duties, tariffs and trade barriers. If Congress approves the FTA, 80+% of the Colombian trade barriers will end immediately; the rest will end within 10 years.
Colombia's economy is small compared to ours, but fast-growing ($6.7 billion in US imports in 2006, up 23% from 2005). The FTA means billions of dollars of market opportunities to US farmers, businesses and investors. But Congress won't consider it.
They dredge up the old images of Colombia -- unstable due to (Venezuela-funded) rebels, virtually run by drug lords and corrupt politicians. They ignore the remarkable and brave progress over the past 10 years. Colombia, under President Uribe, is stable, continues to progress against rebels and drug lords; its judges and juries now find people guilty when it is appropriate, and criminals can be extradited to the US. Uribe has cleared the way for foreign investment -- which is responding because of the greater stability and the government policies.
But Congress ignores that; they hurt US farmers, businesses and other exporters. They hurt the US economy. And they snub the closest ally that the US has in South America.
"A deal's a deal?" Ask Congress about that basic tenet of the American way. Read more!
Two years ago the US Trade Representative and Government of Colombia negotiated a Free Trade Agreement. Then, after the agreement was reached, the Congressional Leadership demanded tougher provisions on labor, the environment, patent and trademark protection and others. (It contained such provisions, but advocates of renegotiation won the day). The USTR had to renounce the deal and renegotiate. So much for America's word.
It it gets worse. To prevent further "need" for renegotiated FTAs, Congress and the Administration came to (May 7, 2007) Bi-Partisan Consensus on specific provisions of future FTAs. So maybe a deal's a deal from now on.
But a month ago the Administration sent the new Colombia FTA to the Hill, and the House Speaker changed the rules to eliminate the timetable for an up-or-down vote, virtually killing chances for a vote on the FTA -- and robbing Americans of an immediate chance to export goods and improve our economy.
Remember, most Colombian goods imported to the US are duty- and tariff-free; most US goods sold into Colombia face heavy duties, tariffs and trade barriers. If Congress approves the FTA, 80+% of the Colombian trade barriers will end immediately; the rest will end within 10 years.
Colombia's economy is small compared to ours, but fast-growing ($6.7 billion in US imports in 2006, up 23% from 2005). The FTA means billions of dollars of market opportunities to US farmers, businesses and investors. But Congress won't consider it.
They dredge up the old images of Colombia -- unstable due to (Venezuela-funded) rebels, virtually run by drug lords and corrupt politicians. They ignore the remarkable and brave progress over the past 10 years. Colombia, under President Uribe, is stable, continues to progress against rebels and drug lords; its judges and juries now find people guilty when it is appropriate, and criminals can be extradited to the US. Uribe has cleared the way for foreign investment -- which is responding because of the greater stability and the government policies.
But Congress ignores that; they hurt US farmers, businesses and other exporters. They hurt the US economy. And they snub the closest ally that the US has in South America.
"A deal's a deal?" Ask Congress about that basic tenet of the American way. Read more!
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