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Foreign Corrupt Practices Act
The Foreign Corrupt Practices Act of 1977 (FCPA) (, ''et seq.'') is a United States federal law that prohibits U.S. citizens and entities from Bribery, bribing foreign government officials to benefit their business interests. The FCPA is applicable worldwide and extends specifically to Public company, publicly traded companies and their personnel, including officers, directors, employees, shareholders, and agents. Following amendments made in 1998, the Act also applies to foreign firms and persons who, either directly or through intermediaries, help facilitate or carry out corrupt payments in U.S. territory. Pursuant to its anti-bribery purpose, the FCPA amends the Securities Exchange Act of 1934 to require all companies with securities listed in the U.S. to meet certain accounting provisions, such as ensuring accurate and transparent financial records and maintaining internal accounting controls. The FCPA is jointly enforced by the United States Department of Justice, Departme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commerce And Trade
Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale exchange (distribution through transactional processes) of goods, services, and other things of value at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local, regional, national or international economies. The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges. Commerce consists of trade and aids to trade (i.e. auxiliary commercial services) taking place along the entire supply chain. Trade is the exchange of goods (including raw materials, intermediate and finished goods) and services between buyers and sellers in return for an agreed-upon price at traditional (or onli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Juridical Person
A juridical person is a legal person that is not a natural person but an organization recognized by law as a fictitious person such as a corporation, government agency, non-governmental organisation, or international organization (such as the European Union). Other terms include artificial person, corporate person, judicial person, juridical entity, juridic person, or juristic person. A juridical person maintains certain duties and rights as enumerated under relevant laws. The rights and responsibilities of a juridical person are distinct from those of the natural persons constituting it. Since the beginning of writing at the start of recorded history, associations have been known as the original form of the juridical person. This is documented for the 1st century A.D. for Jewish trading companies. In Roman law, entities gained significance through institutions such as the state, communities, corporations (''universitates'') and their associations of persons and assets, as wel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockheed Bribery Scandals
The Lockheed bribery scandals encompassed bribes and contributions made by officials of U.S. aerospace company Lockheed from the late 1950s to the 1970s in the process of negotiating the sale of aircraft. The scandal caused considerable political controversy in West Germany, Italy, the Netherlands, and Japan. In the U.S., the scandal nearly led to Lockheed's downfall, as it was already struggling due to the commercial failure of the L-1011 TriStar airliner. Background Through the Emergency Loan Guarantee Act of 1971, the Emergency Loan Guarantee Board was created to manage federally guaranteed private loans up to $250 million to Lockheed Corporation. The guarantee program would have the U.S government assume the private debt of Lockheed if it defaulted on its debts. In August 1975 the board investigated whether Lockheed violated its obligations by failing to tell the board about foreign payments made to Lockheed. On October 14, 1977, Lockheed and its 24 lending banks entere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Facilitating Payment
A facilitating payment, facilitation payment, or grease payment is a payment to government employees to speed up an administrative process whose outcome is already determined. Although ethically questionable, it is not considered to be bribery according to the legislation of some states as well as in international anti-bribery conventions. Dangers For legal purposes, it is distinguished from bribery, although the distinction is often blurred. Determining whether a payment is a facilitating one may be difficult and depend on the circumstances. The value of the payment is not immediately relevant, however the greater the value, the higher are chances that it will be a red flag for law enforcement. Small unofficial payments are customary and even legal in some countries, nevertheless they may present a risk of liability according to the laws of the host country. There also exists a slippery slope danger of evolving into dubious payments. Business ethics While being legal, facilitati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bribery
Bribery is the corrupt solicitation, payment, or Offer and acceptance, acceptance of a private favor (a bribe) in exchange for official action. The purpose of a bribe is to influence the actions of the recipient, a person in charge of an official duty, to act contrary to their duty and the known rules of honesty and integrity. Gifts of money or other items of value that are otherwise available to everyone on an equivalent basis, and not for dishonest purposes, are not bribery. Offering a discount or a refund to all purchasers is a rebate (marketing), rebate and is not bribery. For example, it is legal for an employee of a Public Utilities Commission involved in electric rate regulation to accept a rebate on electric service that reduces their cost of electricity, when the rebate is available to other residential electric customers; however, giving a discount specifically to that employee to influence them to look favorably on the electric utility's rate increase applications would ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobil
Mobil Oil Corporation, now known as just Mobil, is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil, formerly known as Exxon, which took its current name after history of ExxonMobil#merger, it and Mobil merged in 1999. A direct descendant of Standard Oil, Mobil was originally known as the Standard Oil Company of New York (shortened to Socony) after Standard Oil was Standard Oil Co. of New Jersey v. United States, split into 43 different entities in a 1911 Supreme Court decision. Socony merged with Vacuum Oil Company, from which the Mobil name first originated, in 1931 and subsequently renamed itself to "Socony-Vacuum Oil Company". Over time, Mobil became the company's primary identity, which prompted a renaming in 1955 to the "Socony Mobil Oil Company", and then in 1966 to the "Mobil Oil Corporation". Mobil credits itself with being the first company to introduce Pay at the pump, paying at the pump at its gas stations, the first company to pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gulf Oil
Gulf Oil was a major global oil company in operation from 1901 to 1985. The eighth-largest American manufacturing company in 1941 and the ninth largest in 1979, Gulf Oil was one of the Seven Sisters (oil companies), Seven Sisters oil companies. Prior to its merger with Chevron Corporation, Standard Oil of California, Gulf was one of the chief instruments of the Mellon family fortune; both Gulf and Mellon Financial had their headquarters in Pittsburgh, Pennsylvania, with Gulf's headquarters, the Gulf Tower, being Pittsburgh's tallest building until the completion of the U.S. Steel Tower. Gulf Oil Corporation (GOC) ceased to exist as an independent company in 1985, when it merged with Chevron Corporation, Standard Oil of California (SOCAL), with both rebranding as Chevron Corporation, Chevron in the United States. Gulf Canada, Gulf's main Canadian subsidiary, was sold the same year with retail outlets to Ultramar and Petro-Canada and what became Gulf Canada Resources to Olympia an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Brands
Chiquita Brands International S.à.r.l. (), formerly known as United Fruit Co. The United Fruit Company (later the United Brands Company) was an American multinational corporation that traded in tropical fruit (primarily bananas) grown on Latin American plantations and sold in the United States and Europe. The company was ..., is a Swiss company producing and distributing bananas and other produce. The company operates under subsidiary brand names, including the flagship Chiquita brand and Fresh Express salads. Chiquita is the leading distributor of bananas in the United States. Chiquita is the successor to the United Fruit Company. It was formerly controlled by American businessman Carl Lindner Jr., whose majority ownership of the company ended when Chiquita Brands International exited a prepackaged Chapter 11 bankruptcy on 19 March 2002. In 2003, the company acquired the German produce distribution company, Atlanta AG. Fresh Express salads was purchased from Performa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockheed Corporation
The Lockheed Corporation was an American aerospace manufacturer. Lockheed was founded in 1926 and merged in 1995 with Martin Marietta to form Lockheed Martin. Its founder, Allan Lockheed, had earlier founded the similarly named but otherwise-unrelated Loughead Aircraft Manufacturing Company, which was operational from 1912 to 1920. History Origins Allan Loughead and his brother Malcolm Loughead had operated an earlier aircraft company, Loughead Aircraft Manufacturing Company, which was operational from 1912 to 1920. The company built and operated aircraft for paying passengers on sightseeing tours in California and had developed a prototype for the civil market, but folded in 1920 due to the flood of surplus aircraft deflating the market after World War I. Allan went into the real estate market while Malcolm had meanwhile formed a successful company marketing brake systems for automobiles. On December 13, 1926, Allan Loughead, Jack Northrop, John Northrop, Kenneth Kay and Fre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Northrop Corporation
Northrop Corporation was an American aircraft manufacturer from its formation in 1939 until its 1994 merger with Grumman to form Northrop Grumman. The company is known for its development of the flying wing design, most successfully the B-2 Spirit stealth bomber.Parker, Dana T. ''Building Victory: Aircraft Manufacturing in the Los Angeles Area in World War II,'' pp. 93-106, Cypress, CA, 2013. . History Jack Northrop founded three companies using his name. The first was the Avion Corporation in 1928, which was absorbed in 1929 by the United Aircraft and Transport Corporation as a subsidiary named "Northrop Aircraft Corporation" (and later became part of Boeing). The parent company moved its operations to Kansas in 1931, and so Northrop, along with Donald Wills Douglas Sr., Donald Douglas, established a "Northrop Corporation" located in El Segundo, California, which produced several successful designs, including the Northrop Gamma and Northrop Delta. However, labor difficulties ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is the legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. Most countries require mergers and acquisitions to comply with antitrust or competition law. In the United States, for example, the Cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2006 FIFA World Cup
The 2006 FIFA World Cup was the 18th FIFA World Cup, the quadrennial international Association football, football world championship tournament. It was held from 9 June to 9 July 2006 in Germany, which had won the right to FIFA World Cup hosts#2006 FIFA World Cup, host the event in July 2000. Teams representing 198 national football associations from all six populated continents participated in the 2006 FIFA World Cup qualification, qualification process which began in September 2003. Thirty-one teams qualified from this process along with hosts Germany national football team, Germany for the finals tournament. It was the second time that Germany staged the competition and the first as a German reunification, unified country along with the former East Germany with Leipzig as a host city (the other was in 1974 FIFA World Cup, 1974 in West Germany), and the 10th time that the tournament was held in Europe. Italy national football team, Italy won the tournament, claiming their fou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
