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Wire Why were up to 64 percent of the company’s annual sales being recorded as going to distributors in lightly populated area near the Amazon River? Why? Because, this manager learned, while urban Brazilian states charged a 19 percent VAT tax on bulbs, switches and fixtures, the rural states charge just seven percent. He told his superiors at GE in the United States that the suspicious invoices indicated possible tax evasion that saved GE anywhere from 12 to 19 cents on every dollar of sales. The whole sordid affair is laid out in the current issue of Tax Notes International. The article – Blame It on Rio: GE’s Brazilian Headache – was written by David Cay Johnston, who retired from the New York Times in April, taking a buyout after 13 years as a Pulitzer Prize winning business reporter there.
RULE OF LAW, DEMOCRACY
AND PLUNDER Democracy. Transparency. Human rights. Rule of law. Who could argue against them? It’s like arguing against motherhood. Or apple pie. Now come Ugo Mattei, a professor of law at Hastings College of the Law and Laura Nader, a professor of anthropology at the University of California, Berkeley. They have written a book – Plunder: When the Rule of Law is Illegal (Blackwell Publishing, 2008). Rule of law has such a sacred
place in our society that the title is a bit discombobulating. These people are saying bad things about the rule of law?
BEN HEINEMAN HIGH ON
INTEGRITY Think private attorney general. For twenty years he was general counsel at General Electric. For twenty years, he policed GE’s worldwide operation. Now, Ben Heineman is at Harvard University, teaching, reading, and writing. He’s also senior counsel at WilmerHale in Washington, D.C. And he’s just completed a remarkable little book – High Performance with High Integrity (Harvard Business Press, 2008) After reading it, you think that Heineman must have been the most public spirited of any of the hundreds of world’s multinational corporate general counsel. Heineman, it turns out, was a driving force behind the international movement to ban public and private corporate bribery. He helped create the world’s foremost public interest group on the subject – Transparency International. And he has campaigned relentlessly against foreign bribery. Heineman disagrees with corporate executives who are constantly trying to beat back tougher public regulation. He says that sometimes, tough uniform public regulation helps the high integrity corporation by leveling the playing field.
REPORT CALLS FOR STEPPED
UP ANTITRUST ENFORCEMENT That’s the bottom line recommendation of a draft report released this week by the American Antitrust Institute. The Institute is holding a two-day conference at the National Press Club this week to discuss the draft report and to commemorate the tenth anniversary of the Institute. “Since the Chicago School gained ascendancy in antitrust, there has been disproportionate concern about the risks associated with over-enforcement and too little concern about the risk of under-enforcement,” the authors write. “We believe that, as a generalization, today’s government bends over backward to avoid making an intervention that might turn out to be mistaken, at the price of creating a system in which there is too little enforcement.”
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Corporate Crime Reporter Interviews, 1987 to 2008
Sample Interviews Mary Jo White, Partner, Debevoise Plimpton, New York, New York
Interview with David Pitofsky, Partner, Goodwin Procter,
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