Posted on 12/31/2001 9:42:20 AM PST by hchutch
10 Worst Corporations of 2001 Named by Multinational Monitor
U.S. Newswire
31 Dec 10:36
10 Worst Corporations Of 2001 Named By Multinational Monitor Magazine
To: National and Business desks
Contact: Robert Weissman of Multinational Monitor, 202-387-8030
WASHINGTON, Dec. 31 /U.S. Newswire/ -- The following was released today by Multinational Monitor:
Abbott Laboratories, Argenbright, Bayer, Coke, Enron, Exxon Mobil, Philip Morris, Sara lee, Southern Co. and Wal-Mart have been named the 10 worst corporations of 2001, in Multinational Monitor magazine's annual listing.
"These behemoths have ripped off the public, polluted the environment, abused their workers and debased our culture," said Robert Weissman, editor of Multinational Monitor. "They appear in our lives everyday, disguised as 'respectable members of the community.' They deserve public opprobrium, and, in many cases, government sanction."
Multinational Monitor is a Washington, D.C.-based monthly magazine that tracks the activities of multinational corporations. It was founded by Ralph Nader.
Abbott Laboratories made the 10 worst list for its TAP Pharmaceuticals, a joint venture with Japanese Takeda Pharmaceuticals. TAP was forced to pay $875 million to resolve criminal charges and civil liability in connection with allegations of major Medicare reimbursement fraud.
Argenbright, the security company, was named to the list for repeat violations of regulations for airport security. Argenbright's appalling record helped convince Congress to federalize U.S. airport security operations.
Bayer appears on the list for its overcharge of the government and public for the anti-anthrax drug Cipro, as well as dangerous peddling of antibiotics for poultry (contributing to antibiotic resistance among humans) and its harassment of a corporate accountability group.
Coca Cola was named among the 10 worst for its sponsorship of the first Harry Potter movie and possible sequels, using a children's favorite to hawks its unhealthy product, and for alleged complicity with death squads in Colombia targeting union leaders there.
Enron made the 10 worst list for costing many of its employees their life savings by refusing to let them dump Enron stock from their pension plans, as the company plunged toward bankruptcy.
ExxonMobil earned a spot on the list for leading the global warming denial campaign and blocking efforts at appropriate remedial action, plus a host of other reckless activities.
Philip Morris asserted its claim to be among the 10 worst by virtue of a "we've changed" marketing campaign -- revealed to be a hoax by a Czech study it commissioned alleging the cost savings from smoking-related premature death, as well as the company's ongoing efforts to addict millions of new smokers.
Sara Lee was named to the list because of a scandal involving its Ball Park Franks hot dogs. Contaminated hot dogs due to company negligence killed 21.
Southern Co., the largest electric utility in the United States, grabbed a place on the list for its efforts to defeat sensible air pollution regulations.
Wal-Mart secured its place among the 10 worst by mistreating workers domestically and abroad, and by contributing to the sprawl that blights the U.S. landscape.
Corporations on Multinational Monitor's 10 worst list appear alphabetically, and are not ranked internally.
For a complete copy of Multinational Monitor's article naming the 10 worst corporations of 2001, see www.essential.org/monitor.
KEYWORDS: CONSUMER ISSUES, POLICY, ENVIRONMENT
These guys are glad Exxon and Mobil merged. That way they didn't have to decide which one they disliked more.
Motorola's in a tough business in a tough time, but they'll bounce back. I agree they let Nokia grab a big market, and that really hurts since Motorola owned it, but Nokia did it with design style, not with high tech. And Motorola is a whole lot more high tech areas than Nokia.
thanks for your post, but Motorola is a well run big corp.
IF HARRY POTTER IS THE REASON COKE IS ON THIS LIST, THEN THIS LIST SHOULD NOT BE TAKEN SERIOUSLY.
IF HARRY POTTER IS THE REASON COKE IS ON THIS LIST, THEN THIS LIST SHOULD NOT BE TAKEN SERIOUSLY.
Does pension plan = 401k in this case? If so, Enron didn't prevent anything. Regulations regarding 401k plan administrators prevented them. Good old governmental regulations to "protect" participants once again came around and bit them in the rear.
As for company stock in general, our company once had a dollar-for-dollar match. I could buy 10K in company stock and they would match it but you couldn't sell the matching shares for 5 years and could only get the match once a year. That's to prevent me from buying 10K in stock, getting the matching shares, selling them later in the day and repeating. They later went to a 10% discount on stock purchased by employees provided you keep it for two years. I could pay 9K for 10K worth of stock, but they were encumbered shares and couldn't be sold for 24 months. You want shares you can sell at any time, don't go for the discount.
There may have been restrictions on stock sales for reasons like those, but Enron did nothing sinister from what I've heard - At least not regarding employees and company stock.
Want to see the 10 worst dressed men? Go to a homeless shelter.
Want to find 'really bad' corporations? Check the phone book. Many of them have names that start with 'AAAAAA...'.
LOL. BTW, who do you think wastes more American taxdollars, corporations or capitalist-hating leftists?
They were changing the 401K is some manner such that all of the stock was locked up for two months or so. This of course was advertised way in advance. Enron belongs on the list for being liars and frauds, which cost all stockholders, but not directly for idiots who put all of their eggs in one basket.
republicans tend to want to use government to make special provisions to benefit big corporations for ideological reasons. Perhaps I was a bit intemperate before. But I just wanted to make the point that big corporations do not have any kind of a track record of creating jobs for Americans.
You don't go to Wal-Mart for staples. You go to a business supply store. Perhaps one will come to mind.
Unless you mean, sugar, flour, salt, potatos, (or potatoes), etc.
Abbott's made me $2000 as a stockholder. I ain't been defrauded.
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