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8/6/2019 ppt_be

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8/6/2019 ppt_be


Data shows that between 2006-07, there were approximately416,460 children employed on farms, with 54 percentyounger than 14 years of age.

many farmers prefer to hire female children because girls

have more nimble hands and a better work ethic. Usingchildren allow farmers to easily control them.

This study was commissioned by OECD Watch, Deutsche Welthungerhilfe, the India

Committee of the Netherlands, Eine Welt Netz Nrw, and the International Labor RightsForum.

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According to the report, the vast majority of companies that were contacted refused to

respond to requests for information.

Out of 92 companies contacted, six companies and one public sector organization did

respond with company policies. The six companies include: Singapore Airlines, IBM,

McKinsey & Co. (Asia), The Body Shop, Shell, PricewaterhouseCoopers, andInternational Enterprise Singapore.

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HP spying scandal

On September 5, 2006, Newsweek revealed that Hewlett-Packard'sgeneral counsel, at the behest of HP chairwoman Patricia Dunn, had

contracted a team of independent security experts to investigate boardmembers and several journalists in order to identify the source of aninformation leak. In turn, those security experts recruited privateinvestigators who used a spying technique known as pretexting. Thepretexting involved investigators impersonating HP board members andnine journalists (including reporters for CNET, the New York Times andthe Wall Street Journal) in order to obtain their phone records. The

information leaked related to HP's long-term strategy and was publishedas part of a CNET articleCalifornia criminal case

On October 4, 2006, California Attorney General Bill Lockyer filedcriminal charges and arrest warrants against Dunn, HP's former chief ethics officer Kevin Hunsaker, and three outside investigators. The

complaint alleged the following four felony violations of the CaliforniaPenal Code: Conspiracy to commit crime in violation of Sections 182(a)(1) Fraudulent use of wire, radio, or television transmissions in violation of

Section 538.5 Taking, copying, and using computer data in violation of Section 502(c)

(2) Using personal identifying information without authorization in violation

http://en.wikipedia.org/wiki/File:American_Airlines_logo.svg

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American Airlines has had repeated run-ins with the FAA regarding

maintenance of its MD-80 fleet; the costs associated with operating these jets has affected American's bottom line. American Airlines canceled 1,000flights to inspect wire bundles over three days in April 2008 to make surethey complied with government safety regulations.This caused significantinconvenience to passengers and financial problems for the airline.American has begun the process of replacing its older MD-80 jets withBoeing 737s. The newer MD-80s will continue to serve until the nextgeneration Boeing narrowbody aircraft (Boeing Y1) is available.

In September 2009, the Associated Press and The Wall Street Journal reported that American was accused of hiding repeated maintenance lapseson at least 16 MD-80s from the FAA. Repair issues included such items asfaulty emergency slides, improper engine coatings, incorrectly drilled holesand other examples of shoddy workmanship. The most serious alleged lapseis a failure to repair cracks to pressure bulkheads; the rupture of a bulkheadcould lead to cabin depressurization. It is also alleged that the airline retired

one airplane in order to hide it from FAA inspectors; the airline counteredthat FAA inspectors always have full access to any airplane, retired or not. In May 2008, a month after mass grounding of aircraft, American announced

capacity cuts and fees to increase revenue and help cover high fuel prices. The airline increased fees such as a $15 charge for the first checked bagand $25 for the second, as well as a $150 change fee for domesticreservations. American's regional airline, American Eagle Airlines, will retire35 to 40 regional jets as well as its Saab turboprop fleet.

http://en.wikipedia.org/wiki/File:American_Airlines_logo.svg

http://en.wikipedia.org/wiki/File:AIG_wordmark.svg

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AIG was required to post additional collateral with many creditors

and counter-parties, touching off controversy when over $100billion was paid out to major global financial institutions that hadpreviously received TARP money. While this money was legallyowed to the banks by AIG (under agreements made via creditdefault swaps purchased from AIG by the institutions), a numberof Congressmen and media members expressed outrage thattaxpayer money was going to these banks through AIG.

Had AIG been allowed to fail in a controlled manner throughbankruptcy, bondholders and derivative counterparties (majorbanks) would have suffered significant losses, limiting the amountof taxpayer funds directly used. Fed Chairman Ben Bernankeargued: "If a federal agency had [appropriate authority] onSeptember 16 [2008], they could have been used to put AIG into

conservatorship or receivership, unwind it slowly, protectpolicyholders, and impose haircuts on creditors andcounterparties as appropriate. That outcome would have been farpreferable to the situation we find ourselves in now."The"situation" to which he is referring is that the claims of bondholders and counterparties were paid at 100 cents on thedollar by taxpayers, without giving taxpayers the rights to the

future profits of these institutions. In other words, the benefitswent to the banks while the taxpayers suffered the costs.

http://en.wikipedia.org/wiki/File:AIG_wordmark.svg

http://en.wikipedia.org/wiki/File:Mahindra_Satyam_Logo.svg

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Maytas acquisition In 2008, Satyam attempted to acquire (Maytas Infrastructure and Maytas Properties)

founded by family relations of company founder Ramalinga Raju for $1.6 billion, despiteconcerns raised by independent board directors.Both companies are owned by Raju's sons.

This eventually led to a review of the deal by the government a veiled criticism by the vicepresident of India and Satyam's clients re-evaluating their relationship with the companySatyam's investors lost about INR 3,400 crore in the related panic selling. The USD $1.6billion (INR 8,000 crore) acquisition was met with skepticism as Satyam's shares fell 55%on the New York Stock Exchange.Three members of the board of directors resigned on 29December 2008.

World Bank The World Bank had banned Satyam from doing business with it for 8 years due to

inappropriate payments to the World Bank's staff.The World Bank accused Satyam of

giving improper benefits to its (the Bank's) staff and of failing to maintain documentationto support fees charged for its subcontractors. However, it clarified that Satyam was notinvolved in incidences of data theft or malicious attacks that had been made on the Bank'sinformation systems.

Upaid lawsuit UK mobile payments company Upaid Systems is suing Satyam for over 1 billion US dollars

on complaints of fraud, forgery and breach of contract. on 9-December-2009 Satyam hassettled the lawsuit with UPAID for $70MM, of which $45MM is payable upon regulatoryapproval, and the remaining $25MM is payable a year after the initial payment. Thesettlement requires Upaid to give Mahindra Satyam a worldwide royalty-free licence on itspatents, and provides for the dismissal of all pending actions including the litigationbetween the companies pending in the U.S. court.

Accounting scandal of 2009 Main article: Satyam accounting scandal In addition to other controversies involving Satyam, on January 7, 2009, Chairman Raju

resigned after publicly announcing his involvement in an accounting fraud. Ramalinga Rajuis currently in a Hyderabad prison along with his brother and former board member Rama

Raju, and the former CFO Vadlamani Srinivas.

http://en.wikipedia.org/wiki/File:Mahindra_Satyam_Logo.svg

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