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'Big' business

With the thoroughbred's return to the Haskell fast approaching, the business of Big Brown is running bullish. The Monmouth, New Jersey race will be a good gauge of the staying power of a horse that has become the most marketable commodity on the racing circuit the past quarter of a century. With a tour on the Breeders Cup just months away, the final legacy of Big Brown may extend well beyond wins and losses.

It all began very typically in May with Big Brown's spectacular showing at the Kentucky Derby, causing all the usual interest and intrigue from the media. It really wasn't anything spectacular, in fact, it was fairly routine. National television numbers stayed in a similar range as to those the years before, even dipping a little. NBC's coverage of the Kentucky Derby earned a 9.5 overnight rating and 21 share, down 3% from last year's 9.8 rating and 21 share. more

Business Pulse: Hybrids get a high-five

Buying a hybrid car is a "definite possibility" for the vast majority of Memphis Business Journal readers who took part in this week's online Business Pulse poll.

Asked if they would ever buy a hybrid, 75 percent, or 169 of the 225 readers who participated in this week's poll, said yes.

Only 11 percent of those responding, or 24 readers, said they never would.

An equal number of readers -- 16, or 7 percent -- said they would buy a hybrid only if it were a luxury brand or said they already owned one.

The relevance of buying hybrids, which use a combination of gasoline and electricity, has increased with the continuation of high gas prices and the recent news that Toyota Motor Corp. has decided to build its Prius hybrid and not the Highlander SUV at its new plant near Tupelo. more

Starwood Hotels business slows

"Business slowed down abruptly in May," Chief Executive Officer Frits van Paasschen said.

America's consumer-led economic slump has hurt demand for Starwood's resorts in the Unites States, Mexico and Italy, and is now hurting U.S. corporate travel, he said.

. more

Austrian Airlines Falls as UBS Doubts Business Model (Update1)

The UBS analysts said they like airlines with strong balance sheets, sustainable business models or high margins, and Austrian has none of those attributes.

The carrier is conducting a strategic review that includes evaluating possible partnerships, the UBS analysts said in a research report. A preferred suitor would be Cologne, Germany- based Deutsche Lufthansa AG, Europe's second-biggest airline, though the company would have little to gain with a purchase, according to the UBS analysts.

Austrian Airlines' share price will decline 2.40 euros over the next 12 months, the UBS analysts said. Goldman lowered its six-month stock-price target, saying the shares will fall to 3 euros compared with a previous estimate of 3.40 euros.

Goldman also cited competition in reducing its recommendation, saying SkyEurope Holding AG, based in neighboring Bratislava, Slovakia, will hurt the carrier's Vienna operations. more

Business: In brief 07/30/08

First Community Bank, based in Batesville, Ark., received final regulatory approval last week from the Arkansas State Banking Department and the Federal Deposit Insurance Corp. to expand its banking network to Goodman, Neosho and Jane, Mo.

Those three new locations came from First Community Bank's merger with Goodman State Bank.

Caterpillar donates $10,000 to PSU

PITTSBURG, Kan. — Caterpillar Inc. recently presented a $10,000 check to Pittsburg State University. The university will match that amount for a total of $20,000. The money will go toward scholarships for students in the Caterpillar Think Bigger program at PSU.

The Think Big program is a two-year course of study that prepares students to become heavy-equipment technicians for the company. more

Recent International Business Bribery News

Firms to draft anti-bribery plan under OECD - Haaretz.com

... this month, the OECD Working Group on Bribery - which includes representatives of 38 countries, including Israel - will begin supervising companies' progress in formulating ethics guidelines for conducting international business. "Too few ...

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OECD gives companies anti-bribery advice - Out-Law

International ... take to combat bribery. The Bribery Bill creates a new offence for companies, which will become liable for bribery conducted by employees if they have not put in place adequate anti-bribery measures. After business advisors ...

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Labor union executive pleads guilty to bribery charges - Rolla Daily News

Rodzwicz, President of the Brotherhood of Locomotive Engineers and Trainmen has pleaded guilty to bribery charges. Rodzwicz was the sitting President ... It is a division of the International Brotherhood of Teamsters (“IBT”). According to ...

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CNPC Denies Bribery Allegation in Kazakh Oil Purchase ... - BusinessWeek

CNPC “always works in strict accordance with the law and adheres to high ethical business standards,” the Almaty-based company said ... and CNPC International (Caspian) Ltd. -- own 60.33 and 25.12 percent of the company’s shares respectively ...

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Chevron Asks Judge to Allow Arbitration Over Ecuador ... - BusinessWeek

Ecuador last year filed a lawsuit in New York seeking to block Chevron from taking the case to arbitration before an international panel. A lawsuit ... Chevron last year said it uncovered a $3 million bribery plot linked to the case. The company said ...

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U.S. judge rules for Chevron in Ecuador case - Reuters India

NEW YORK (Reuters) - Chevron Corp may pursue an international arbitration claim over environmental ... to be heard in Ecuador, where Chevron said last year that it had uncovered a $3 million bribery plot linked to the case. A lawyer for the ...

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Harper's G20 urged to tackle secrecy - Globe and Mail

Transparency International, which has worked internationally for years to stamp out corruption and bribery, has found its focus shifting slightly in the wake of the financial crisis. "The crisis has greatly encouraged anti-corruption activists across ...

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United Kingdom: Bribery: The Corporate Wake Up Call * - Mondaq

All businesses and their legal advisers need to get to grips with their obligations under the Bribery Bill, as failure ... with experts from organisations such as Transparency International, the Institute of Business Ethics and the Anti Corruption ...

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ABC, CBS Flock to SEIU-Stacked Anti-Health Insurance ... - Business Media Institute

... Parties being “Astroturf,” the networks didn’t seem interested that the March 9 protests were thronged with activists from groups such as the Service Employees International ... insurance company CEOs of bribery, money laundering and ...

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IDT's Voodoo Economics - The Big Money

Jewett, now 51, alleged that Jack Lerer, IDT executive vice president for international business development, had gone to Haiti in August 2003 and met President Jean-Bertrand Aristide to work out the accord. Jewett said Lerer told him that IDT would ...

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Top International Business Bribery Links

Business Principles for Countering Bribery
Business Principles for Countering Bribery An initiative of Transparency International and Social Accountability International June 2003

Bribery in International Business:Department
The OECD fights bribery in international business to strengthen development, reduce poverty and bolster confidence in markets. The keystone to its efforts is the OECD Anti-Bribery ...

business principles/private sector/global priorities
The development of the Business Principles for Countering Bribery, introduced in December 2002, was spearheaded by Transparency International in co-operation with Social ...

Ernest and Jeanne Merlanti Ethics Initiative ...
The Tradition of Bribery in International Business Short article on history of bribery in business. U.N. Economic and Social Council Resolution Against Corruption and Bribery

Bribery in International Business Transactions and the ...
Bribery in International Business Transactions and the OECD Convention: Benefits and Limitations from Business Economics provided by Find Articles at BNET

FRONTLINE/World: The Business of Bribes | PBS
An online investigation into corruption and the business of international bribery.

Corruption and Bribery
Doing Business in International Markets, Corruption and Bribery ... The United States has been a leader in the multinational effort to end bribery and corruption in international ...

Bribery in International Business Transactions and the ...
This article reviews common reasons why multinational firms have given questionable payments to foreign officials, noting that unsavory business practices have been extremely ...

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