Euromoney (October 30)
“There comes a point when investors cannot ignore the E, the S and the G in their investment strategies because there will be companies, business models and even entire industries that will no longer function if global temperatures exceed1.5 degrees over preindustrial levels, or if socio-political crises escalate, or if corporate mismanagement scandals multiply.”
Tags: 1.5 degrees, Business models, Companies, Corporate mismanagement, Crises, ESG, Industries, Investment strategies, Investors, Preindustrial, Scandals, Socio-political, Temperatures
Forbes (March 12)
“If the economics world handed out gold medals for unintended consequences, Japan’s Yoshiro Mori would be a shoo-in.” While “Japan has had more sexist-rant scandals,” none of those “occurred on the IOC’s watch—or during the social-media age.” The $25 billion being spent on the Olympics could, oddly, “be money well spent if the sexism scandal that felled Mori gets Japan to finally get serious about gender parity,” expanding the annual economy by the $750 billion that womenomics is expected to unleash.
Tags: Economics, Gender parity, Gold medals, IOC, Japan, Mori, Olympics, Scandals, Sexist, Social media, Unintended consequences, Womenomics
Washington Examiner (November 18)
The impeachment proceedings seem “surreal” because the evidence is so real. “The pace in which these stark revelations have come to light makes it hard for the voting public to process them. Any one of these developments would cause a media circus for weeks in a normal administration, but the sheer breadth of Trump scandals helps to diminish the profile of each particular one.”
Tags: Diminish, Evidence, Impeachment, Media circus, Normal administration, Revelations, Scandals, Stark, Surreal, Trump, U.S.
The Economist (September 29)
“A scramble to replace LIBOR is under way” before it is phased out permanently in 2021. Though scandals have revealed LIBOR’s numerous inadequacies, “a staggering $260trn-worth of financial products, from interest-rate swaps to retail mortgages,” are estimated to be priced using LIBOR and many of the contracts lack fallback clauses. “Creating and then switching to truly market-based alternatives is an almighty task.”
Tags: Contracts, Fallback clauses, Financial products, Inadequacies, Interest-rate swaps, LIBOR, Market-based alternatives, Retail mortgages, Scandals, Scramble, Staggering
Nikkei Asian Review (March 15)
“Japan Inc. still clings to outdated norms like seniority-based promotion and pay. Women still generally face more ‘non-regular’ job offers than full-time ones. Tokyo’s governance upgrades are no match for opaque practices that fueled false-data scandals at Kobe Steel, Mitsubishi Materials, Toray Industries and elsewhere.”
Tags: False-data, Governance, Japan Inc., Kobe Steel, Mitsubishi Materials, Norms, Outdated, Pay, Promotion, Scandals, Seniority, Toray Industries, Women
Financial Times (November 23)
“Mitsubishi Materials has admitted its subsidiaries falsified data about products used in crucial parts of aircraft and cars, dragging another of Japan’s largest manufacturers into the data falsification scandal at Kobe Steel…. The disclosure will raise the pressure on Japan’s manufacturing sector, which has been struck in the past two months by certification scandals at carmakers Nissan and Subaru, as well as Kobe Steel, Japan’s third-largest steelmaker.”
Tags: Aircraft, Cars, Certification, Disclosure, Falsified, Japan, Kobe Steel, Manufacturers, Mitsubishi Materials, Nissan, Pressure, Product data, Scandals, Steelmaker, Subaru
Reuters (November 13)
“Great Britain… is in a mess. Between scandals over sex, secret meetings, political donors and the royal family, the government is melting down.”
Tags: Melt down, Mess, Political donors, Royal family, Scandals, Secret meetings, Sex, UK
New York Times (August 22)
“A string of recent scandals has shown that the United Nations has been unwilling to police itself, learn from its errors, correct course and make amends. When a new secretary general takes over next year, she or he should make it a priority to revamp the organization’s oversight entities and create a culture of accountability.”
Tags: Accountability, Culture, Errors, Oversight, Scandals, Secretary general, UN
Financial Times (July 23)
The Toshiba and Olympus accounting scandals suggest “that Japanese companies are prone to manipulating their accounts. But foreign investors should not give up and go home.” Instead investors have an opportunity to “short shares in companies that will be struck by scandal next, to buy those that will be forced to change their ways, or to do both these things in turn.”
Tags: Accounting, Investors, Japan, Olympus, Opportunity, Scandals, Short, Toshiba
New York Times (September 19)
“Taiwan obviously needs a stronger food-safety policy with meaningful penalties.” The latest in a series of food scandals involves the sale of nearly 650 tons of adulterated “gutter oil,” which was produced from unsuitable sources, such as restaurant waste, and sold as cooking oil. “The Taiwanese authorities need to be doing more than reacting to food-safety problems on an ad hoc basis to ensure that what people eat is safe.”
Tags: Adulterated, Authorities, Cooking oil, Food safety, Gutter oil, Penalties, Restaurant waste, Scandals, Taiwan
