Category: Corporate control

Major corporations rush towards clean energy commitment

A major shift towards clean energy targets is being seen among some of Australia’s leading businesses and brands, writes David Ritter.

Major corporations rush towards clean energy commitment

Corporations Like Amazon Hire Union-Busting Labor Spies All the Time

Amazon was recently busted hiring intelligence experts to spy on Amazon workers. The practice is unfortunately common — most major multinational corporations have surveillance divisions which overlap with government intelligence agencies, creating a single, powerful security apparatus at the disposal of both the federal government and private corporations to use against workers.

Corporations Like Amazon Hire Union-Busting Labor Spies All the Time

As rivers and dams dry up, groundwater emerges as new battleground in fight for water – ABC News (Australian Broadcasting Corporation)

A man in a blue collared shirt and a cap sits in a buggy with grass in the background.

“To us, this inevitably means fruit and nut crops.”  1kg of almonds takes 860 liters of water to grow (ODT)

And big corporations are among those trying to cash in on it.

In farming country just north of Shepparton in northern Victoria, multi-million dollar agricultural investment corporation goFarm is buying up properties all over the district.

Documents obtained by the ABC from The Weekly Times show the company wants to control at least half of the Katunga Deep Lead Aquifer, an important groundwater resource for local farmers.

via As rivers and dams dry up, groundwater emerges as new battleground in fight for water – ABC News (Australian Broadcasting Corporation)

Sharemarket Stock broker collapse traps $200m from thousands of investors

Halifax's clients invested in equities in Australia and other markets and a range of derivative products.

Stock broker collapse traps $200m from thousands of investors

The demise of Halifax Investment Services has led to the assets of  12,000 accounts being frozen as administrators figure out what went wrong.

“Halifax was the subject of an enforceable undertaking with ASIC in 2013 following regulatory action by the Australian Securities and Investments Commission over a slew of concerns about the operations of the business.”

It’s not the first time

When Corporations go to the wall it’s the the “free market” when the economy is rocked it’s the the “free market”. When the economy is on the rise it’s Liberal” good management,” When unemployment is rising it’s the “free market” When welfare is cut it’s Liberal “good management”. Someone seems not to have a clue when 12,000 investors are seperatedfrom their money. (ODT)

At the Heart of Global Woes, 157 of World’s 200 Richest Entities Are Now Corporations, Not Governments

From massive inequality to the climate crisis, these powerful corporations “are able to demand that governments do their bidding”

via At the Heart of Global Woes, 157 of World’s 200 Richest Entities Are Now Corporations, Not Governments

‘Dark Money’: New Documentary Offers Up-Close and ‘Harrowing Portrait’ of How Secret Corporate Cash Is Destroying American Democracy

dark money

 

After Citizens United, says director Kimberly Reed, “you could just see political power slipping out of the hands of the average citizen and into the hands of a handful of super-rich people.”

via ‘Dark Money’: New Documentary Offers Up-Close and ‘Harrowing Portrait’ of How Secret Corporate Cash Is Destroying American Democracy

Company boards are stacked with friends of friends. So how can we expect change? – Analysis & Opinion – ABC News (Australian Broadcasting Corporation)

Two men walking in suits

 

Social connections drive board appointments and more than two-thirds of directors in the 200 largest public companies are on the board of multiple companies. So whoever replaces ex-AMP chairwoman Catherine Brenner will likely be drawn from a small pool of people.

This violates discrimination legislation that states recruitment should be open and accessible, based on clear assessment of skills, training and relevant experience.

The use of closed networks in the recruitment and selection of board members also creates other problems related to “group think“. Group think creates a situation where board members are more concerned with being a liked and connected member of a particular social group.

As a result members will conform to the status quo, which guarantees them membership perks, such as highly paid directorship roles.

A direct outcome of the group think mentality are boards signing off on questionable business practices as we currently see in the banking sector. Coupled with a self-regulated system, this is a recipe for disaster.

Company boards are stacked with friends of friends. So how can we expect change? – Analysis & Opinion – ABC News (Australian Broadcasting Corporation)