The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming. At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn't a shimmering skyscraper filled with A-list corporations. It's a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol.[more inside]
"Louisiana is the world's prison capital. The state imprisons more of its people, per head, than any of its U.S. counterparts. First among Americans means first in the world. Louisiana's incarceration rate is nearly triple Iran's, seven times China's and 10 times Germany's. The hidden engine behind the state's well-oiled prison machine is cold, hard cash." Louisiana Incarcerated is a tour de force eight-part series on the Louisiana prison system. [more inside]
Employers and colleges are now asking applicants for their Facebook logins and passwords in an attempt to get around privacy settings.
“On the face of it, shareholder value is the dumbest idea in the world” — Jack Welch, 2009. As GE’s CEO in the 80s, however, Welch championed corporate focus on shareholder returns. “Converts to the creed”, the Economist summarizes, “had little time for other ‘stakeholders’: customers, employees, suppliers, society at large and so forth.” What went wrong? Steve Denning describes how such a stance is counterproductive, creates turmoil in capitalism and fosters an environment in which “CEOs and their top managers have massive incentives to focus most of their attentions on the expectations market, rather than the real job of running the company producing real products and services.”
Wired: "Who 'Ruled the Air' in 1910, and Who Rules It Now?". Also see: Vintage AdBrowser (Previously): Communications Ads of the: 1910's, 20's, 30's, 40's, 50's, 60's, 70's, 80's and 90's.
Home Depot was having an issue with employees cutting their fingers off while sawing wood for customers. Michael Powell invented a safety device that Home Depot then copied without Powell's permission. Today, Powell won a $25 million judgment in federal court. [more inside]
Sure, we all know the story about how Detroit developed, and then kept under wraps, a 100mpg carburetor is false. However, affordable 80mpg family sedans are real: behold the Supercar! They are the results of a nearly decade-long partnership between The Big Three and the Clinton administration. However the program was quietly shelved last June, the victim of the Bush administration, and corporate backpedaling. Read the whole sordid tale here. [use username/password for login] In the meantime, you'll have to settle for one of these.
“There are ethical ways to cut costs, and then there is executive greed. Your comment at the recent shareholder's meeting will be your legacy, like it or not (‘I have to make that much money, I have an expensive wife.’).” –says a disgruntled EDS employee to his CEO, Dick Brown in an internal company memo. FuckedCompany rides the corporation bashing bandwagon and branches out to give you further insight into some of your favorite companies. Subscribers to the mother site get complete access. Non-subscribers can view the free rotating posts. Described in NYTimes (password).
I'll Trade You A Harken for an ImClone. Corporate scandal trading cards, certainly not a limited edition.