Wall Street Journal (November 2)
“Investors have lost $46 billion on Olympus, Daio, Kyushu Electric and Tepco combined this year, not to mention other scandals over the years. Bad corporate governance is a costly mistake Japan can ill afford, and a growing embarrassment for a country that deserves far better.”
“Investors have lost $46 billion on Olympus, Daio, Kyushu Electric and Tepco combined this year, not to mention other scandals over the years. Bad corporate governance is a costly mistake Japan can ill afford, and a growing embarrassment for a country that deserves far better.”
Tags: Governance, Investors, Japan, Scandals
Institutional Investor (November 1)
Iceland has bounced back faster than expected. Its top three banks collapsed in 2008, leaving the country in shambles. “But Iceland fought back—and won.” While its economy remains fragile, the Organization for Economic Cooperation and Development (OECD) now predicts Iceland will grow by 3% in 2012. “If there’s a lesson, it’s …that Iceland is in better shape than Ireland partly because it let its banks go bust.”
New York Times (November 1)
Scientists believe much of the debris carried to sea by Japan’s March 11 tsunami will eventually end up in place known as “the Pacific Garbage Patch.” About 5-10% of the items, however, will wash ashore, some of it in Hawaii. Though transformed by years in the ocean, these items “will be an echo of a tragedy, for many years to come. “
The Telegraph (October 31)
“Veteran investor George Soros has attacked the lack of leadership at the top of the eurozone and said that the new Brussels ‘deal’ to solve the debt crisis will only last between ‘one day and three months.’” Soros points out faults. The 50% Greek debt cut will actually only amount to 20%. Banks may not agree to the terms, hoping to collect on their credit default swaps. And clueless European leaders have again responded with “too little too late.”
