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December 02 2012

02mydafsoup-01

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Der Innsbrucker Wissenschaftler, der den Skandal um die Tiroler Kinderheime aufdeckte, spricht gegenüber dem KURIER nicht nur von einer „ökonomisch völlig unvernünftigen Privatisierung, die die Republik Österreich, das Unternehmen und die Mitarbeiter schädigte“. Sondern auch über Missachtung des Aktienrechts, politische Interessen, Ideologie, Budgetnöte und „extrem viele Ungereimtheiten“. Nachzulesen im dieser Tage erschienenen Buch „Ohne Filter“ (StudienVerlag).

Der Anfang vom Ende begann in den 90er-Jahren, als die Austria Tabak (AT) den Sportartikelkonzern HTM, einen Sanierungsfall, übernahm. Dem Vorstand unter Beppo Mauhart war klar, dass das Tabakmonopol auf Dauer nicht zu halten war, man suchte wie die Big Player der Branche nach Diversifizierungen. Als die AT aufgrund hoher Wertberichtigungen für HTM erstmals vorübergehend in die roten Zahlen rutschte, überschlugen sich die Ereignisse. Innerhalb von nur sechs Wochen, nachdem der AT-Aufsichtsrat das Sanierungskonzept beschloss, wurden Mauhart und der gesamte Vorstand zum Rückzug gezwungen und HTM an den schwedischen Investor Johan Eliasch verschenkt. Der zahlte einen symbolischen Kaufpreis von 727.000 Euro und erhielt als Draufgabe das Sanierungskonzept sowie 87 Mio. Euro, die von der AT für die HTM vorgesehen waren. Rechnungshof und EU-Kommission attestierten, dass dieser Deal „nicht die kostengünstigste Alternative“ war.

„Stark auffällig, da darf man sich was denken“, kommentiert Schreiber dabei die Rolle des Investmentbankers Michael Treichl. Der Bruder von Erste-Group-Chef Andreas Treichl war für Warburg als Berater beim Kauf der HTM tätig. Dann arbeitete er am Sanierungskonzept mit, fädelte den Verkauf an seinen Freund Eliasch ein und zog schlussendlich in den Aufsichtsrat von HTM ein.

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Austria Tabak – in Rauch aufgelöst | KURIER.AT 2012-12-01

August 18 2011

02mydafsoup-01
[...]

In the West, the failure of the putsch is still considered to be the heroic victory of Boris Yeltsin and the Russian people over the last guard of the Soviet evil empire in the West. And there is no question that the coup touched off the peaceful collapse of one of the most heavily armed superpowers in the history of the world.  It also signalled the end of the Cold War and a period of US hyperpower status. But triumph of good over evil?  Well...

The Russian people certainly do not think so. A recent poll in Russia by the Levada center (July 15-19, 2011) reveals that an increasing number of Russians now view the failure of the August coup as "tragic news having disastrous consequences for the country." (up to 39% from 36% last year). The majority of others surveyed saw the coup as simply "a struggle for power at the highest levels of Russian government." Only 10% see the news as a victory for democratic revolution. 

As we approach the 20th anniversary of the Putsch, how should we understand these poll numbers?  Would the coup plotters have instigated the same reforms as Yeltsin and the other republic leaders?  Would they have spared Russia and the other Soviet republics the hyperflation and turmoil of the 1990s?

[...]


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You find other entries in occasion of the 20th anniversary from the End of the Soviet Union on, here.
Putin Watcher: 20 Years Since the Fatal Blow to the Soviet Union | 2011-08-16
Reposted bycheg00 cheg00
02mydafsoup-01

August 17 2011

November 24 2010

March 30 2010

02mydafsoup-01
Robert Reich: Don't Wait for Reform
There's already a law on the books that holds Wall Street CEOs and executives to account -- now it needs to be enforced.


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Banks fear genuine financial reform would cost them a bundle....

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So even as Wall Street sheds crocodile tears about the terrible things it's done, it is throwing money at Capitol Hill to thwart reforms that would prevent it from continuing to do terrible things. The political payoffs seem to be working. Proposed legislation from Treasury and the House (at this writing, the Senate Banking Committee hasn't reported out) has loopholes big enough to allow bankers to drive their Ferraris through them. Specifically, they permit secret derivative trading in foreign-exchange swaps (similar to what Goldman used to help Greece hide its debt) and in transactions between big banks and many of their corporate clients (as with AIG). Before you wallow in hopeless cynicism, though, it's worth noting that we already have a law against this. It's called the Sarbanes Oxley Act of 2002. It just needs to be enforced..."

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(Summarized on http://delong.typepad.com 20100329 | likewise on soup.io )

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Think back to the corporate looting scandals that came to light almost a decade ago when the balance sheets of Enron, WorldCom, and others were shown to be fake, causing their investors to lose their shirts. Nearly every major investment bank played a part in the fraud -- not only advising the companies but also urging investors to buy their stocks when the banks' own analysts privately described them as junk.

Sarbox, as it's come to be known, was designed to stop this. It requires CEOs and other senior executives to take personal responsibility for the accuracy and completeness of their companies' financial reports and to set up internal controls to assure the accuracy and completeness of the reports. If they don't, they're subject to fines and criminal penalties.

[...]
— read the complete article on http://prospect.org | 20103029
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