Financial Times (May 26)
Global cities now “drive the world’s economy. The 600 biggest cities account for more than 60 per cent of global gross domestic product. The top 20 are home to one-third of all large corporations, and almost half of their combined revenues. Tokyo leads the pack — in population size, economic punch and number of corporate headquarters — ahead of New York, London and Paris.”
Tags: Cities, Corporations, Economics, Economy, GDP, London, New York, Paris, Population, Revenues, Tokyo
Washington Post (April 6)
“Climate-change deniers are in retreat.” Funding is being cut off for groups that once tried to justify the increasingly untenable position that human activities are not causing climate change. “For politicians and climate-denial groups, the elixir of life is money. Now that corporations are becoming reluctant to bankroll crazy theories, the surrender of climate-change deniers will follow.”
Tags: Climate change, Corporations, Deniers, Funding, Money, Politicians, Retreat
Washington Post (March 5)
There has been a “great shift in what U.S. corporations have done with their money.” Companies once invested 40% of “every dollar that a corporation either borrowed or realized in net earnings.” This “went into investment in its facilities, research or new hires. Since the ’80s, however, just 10 cents of those dollars have gone to investment…. The money that once went to expansion and new ventures has gone instead into shareholders’ pockets.”
Tags: Corporations, Earnings, Expansion, Facilities, Investment, Research, Shareholders, Shift, U.S.
The Economist (January 21, 2012)
The concept of limited liability, which protects shareholders, “is one of the greatest wealth-creating inventions of all time.” In many places, however, companies can be set up to hide or disguise the ultimate owners. “This is of great use to wrongdoers, and a huge headache for those who pursue them.” Both the World Bank and the OECD argue that the identities of owners should be disclosed. The Economist agrees. “Anyone registering a limited company should have to declare the names of the real people who ultimately own it, wherever they are, and report any changes. Lying about this should be a crime.”
The concept of limited liability, which protects shareholders, “is one of the greatest wealth-creating inventions of all time.” In many places, however, companies can be set up to hide or disguise the ultimate owners. “This is of great use to wrongdoers, and a huge headache for those who pursue them.” Both the World Bank and the OECD argue that the identities of owners should be disclosed. The Economist agrees. “Anyone registering a limited company should have to declare the names of the real people who ultimately own it, wherever they are, and report any changes. Lying about this should be a crime.”
