Thinking out loud

Thursday, March 06, 2008

US companies paying bribes abroad - oh dear!

A recent news item reads Pride may have bribed officials in over nine countries. Pride here is a group called Pride International, which is now undergoing an internal investigations due to allegations that it made improper payments to officials in Venezuela and Mexico to get extensions on drilling contracts and to facilitate the collection of payments for contracts that have been executed by them in these countries. The US government will fine them upward of $2 million per violation of the Foreign Corrupt Practices Act. Is the US in complete denial of world realities or is this a farce that needs to be put up once in a while?

Frankly, I'm more amused than disturbed.

2 Comments:

  • Reminds me of "The Moral Dimension". http://en.wikipedia.org/wiki/The_Moral_Dimension

    Wonder how officials were unable to suppress this.

    By Blogger Manas, at 9:28 AM  

  • They might not have wanted to :P

    By Blogger Parijat, at 2:28 PM  

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