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Showing posts from November 30, 2014

Oil at $40 Possible as Market Transforms Caracas to Iran

By Gregory Viscusi, Tara Patel and Simon Kennedy

 Nov 30, 2014 2:38 PM PT 

Photographer: John Moore/AP Photo

An official of the Saudi oil company at a rig near Howta, Saudi Arabia.

Oil’s decline is proving to be the worst since the collapse of the financial system in 2008 and threatening to have the same global impact of falling prices three decades ago that led to the Mexican debt crisis and the end of the Soviet Union.

Russia, the world’s largest producer, can no longer rely on the same oil revenues to rescue an economy suffering from European and U.S. sanctions. Iran, also reeling from similar sanctions, will need to reduce subsidies that have partly insulated its growing population. Nigeria, fighting an Islamic insurgency, and Venezuela, crippled by failing political and economic policies, also rank among the biggest losers from the decision by the Organization of Petroleum Exporting Countries last week to let the force of the market determine what some experts say will be the first fr…

Bar Association warns corporations: Clean up supply chains

Article by: JIM SPENCER , Star Tribune

Updated: November 29, 2014 - 2:00 PM

Bar Association initiative focuses on human rights.

WASHINGTON – By year’s end, chief executives at all of America’s Fortune 500 companies — including 18 in Minnesota — should get a letter signed by the president of the American Bar Association.

Commit to ending human-rights abuses in your supply chain, the letter will say.

Even though a recent U.S. Supreme Court decision has made it harder to hold U.S. companies liable for child labor, slavery, human trafficking and dangerous working conditions among their suppliers, the risks to corporate brands grows by the day, said Chris Johnson, the former general counsel of General Motors North America who heads the ABA business section’s supply-chain initiative.

“Regulation is increasing,”
Johnson said.

“Litigation is increasing. It’s astounding to me that companies don’t get out ahead of this. It’s a time bomb.”

Some companies have tried. Johnson credits Starbucks, Microsoft …