I posted yesterday about goings on in a proposed merger between Xstrata and Glencore - particularly involving a major shareholder, Qatar Holding. To-day The Network is having a closer look at Glencore.
Are money and morals mutually exclusive when money is large, omnipresent, and the clear focus of the actors involved? This question can be asked of many corporate players but, in researching Glencore, questions of ethics and morality come up time and again - across the globe. I think Australians should look closely at this corporation because, if the much mooted merger of Glencore and Xstrata comes into play after meetings in September, Glencore and Xstrata will become the third largest minerals and mining company in the world and a rival for BHPBilliton and Rio Tinto.
Check these links below
In Australia, the Australian Competition & Consumer Commission has looked at the proposed merger and won't intervene to stop it. What a surprise!
Seems to me that we need a body that can look at corporate ethics and whether corporations are worthy of receiving social licence/certification to carry out their operations in Australia. Sometimes one thinks it would be just as easy for Hitler Inc to come into the country and build gas ovens. Why do nations everywhere have to open wide their doors to corporate cowboys simply because they are now wearing city suits and steering, not horses, but fancy motor vehicles?