20121109
“Close personal relationships”
There was a lot of action in the defense sector Friday
afternoon. Just a few hours after reports surfaced that CIA chief David
Petraeus resigned because of an extramarital affair, Lockheed Martin announced CEO-elect Christopher Kubasik resigned due to a “close personal relationship with a subordinate employee.”
Kubasik was set to become Lockheed’s chief executive in January, replacing incumbent Robert Stevens. But an internal investigation revealed an improper relationship with an employee, which led to the board asking and receiving Kubasik’s resignation immediately. Marillyn Hewson, executive vice president of Electronic Systems, will take his spot.
“While I am deeply disappointed and saddened by Chris’ actions, which have been inconsistent with our values and standards, our swift response to his improper conduct demonstrates our unyielding commitment to holding every employee accountable for their actions,” said Stevens, adding “we have a strong leadership team and a robust succession plan that allowed the board and me to react quickly and appropriately to this situation. Marillyn is an exceptional leader with impeccable credentials and deep knowledge of our business, customers, shareholders and employees.
With the defense industry at a crossroads in the aftermath of the Presidential election, awaiting resolution of the fiscal cliff and the future of their relationship with the government, the sudden move at Lockheed comes as a shock. Earlier on Friday, news of former General David Petraeus’ resignation also shocked the sector. Reports indicated the highly reputed General, and up until then CIA chief, tendered his resignation to President Obama citing an extramarital affair, according to NBC News.
Lockheed hasn’t confirmed the exact nature of the “close personal relationship” Kubasik had with a subordinate employee, but he’s hardly the first chief executive to lose his job for it. A few years ago, Hewlett-Packard chief Mark Hurd resigned after being accused of sexual harassment by former actress, reality-TV personality, and HP marketing consultant Jodie Fisher. And in 2012, Best Buy founder and chairman Richard Schulze was forced to resign, accused of covering up an affair between former CEO Brian Dunn and a young, female employee.
Kubasik was set to become Lockheed’s chief executive in January, replacing incumbent Robert Stevens. But an internal investigation revealed an improper relationship with an employee, which led to the board asking and receiving Kubasik’s resignation immediately. Marillyn Hewson, executive vice president of Electronic Systems, will take his spot.
“While I am deeply disappointed and saddened by Chris’ actions, which have been inconsistent with our values and standards, our swift response to his improper conduct demonstrates our unyielding commitment to holding every employee accountable for their actions,” said Stevens, adding “we have a strong leadership team and a robust succession plan that allowed the board and me to react quickly and appropriately to this situation. Marillyn is an exceptional leader with impeccable credentials and deep knowledge of our business, customers, shareholders and employees.
With the defense industry at a crossroads in the aftermath of the Presidential election, awaiting resolution of the fiscal cliff and the future of their relationship with the government, the sudden move at Lockheed comes as a shock. Earlier on Friday, news of former General David Petraeus’ resignation also shocked the sector. Reports indicated the highly reputed General, and up until then CIA chief, tendered his resignation to President Obama citing an extramarital affair, according to NBC News.
Lockheed hasn’t confirmed the exact nature of the “close personal relationship” Kubasik had with a subordinate employee, but he’s hardly the first chief executive to lose his job for it. A few years ago, Hewlett-Packard chief Mark Hurd resigned after being accused of sexual harassment by former actress, reality-TV personality, and HP marketing consultant Jodie Fisher. And in 2012, Best Buy founder and chairman Richard Schulze was forced to resign, accused of covering up an affair between former CEO Brian Dunn and a young, female employee.
20121107
20121102
Greatest theft in the history of Catalonia
When Catalan magazine editors Marta Sibina and Albano Dante created a YouTube video to publicly shame Catalan health-care adviser Josep Maria Via, they were fined 10,000 euro for defamation.
Not to be shouted down by Spain’s libel laws, the two responded by creating yet another video explaining why they were in the right.
In the original video, called the “Greatest theft in the history of Catalonia”, the pair decried what they see as “a lack of transparency in Catalonia’s public health-care system” and the apparent mismanagement of taxpayer dollars.
(Here’s Part 1 … there’s also a Part 2.)
After being fined for libel Oct. 23, they published a follow-up video in which Sibina and Dante say an independent audit confirmed their claims and found “enormous chaos” in the region’s hospitals, including 209,000 euro in clandestine payments to a local member of parliament.
They added that the libel fine poses a significant hardship to the couple, who run the Catalan Cafè amb Llet magazine independently.
“10,000 euro is a serious blow to a publication like ours, with only two workers who live exclusively off the publicity from local businesses who support us. We receive no subsistence from the government — no public money whatsoever.”
They end with this pledge:
“We want it to be absolutely clear that, far from shutting up, we will continue speaking out against the enormous level of opacity that shrouds our public health-care system.”
GlobalVoices reports that on Twitter, the hashtag #MésCafèAmbLlet (#MoreCafèAmbLlet) has been used in defense of the editors, as well as others like #volemlesdades (#WeWantTheData).
The allegations of corruption come at a sensitive time for the Catalan government, as regional leader Artur Mas has called for an early election Nov. 25 and seeks to gain an absolute majority to fight for Catalan independence.
20121101
Want to be Hungarian? Buy some bonds
Want to be Hungarian? Buy some bonds
* Ruling Fidesz proposes offering residency for major investors
* Condition is buying at least 250,000 euros worth of 5-yr bonds
* Chinese investors specifically targeted -lawmaker
By Marton Dunai
BUDAPEST, Oct 30 (Reuters) -
Lawmakers in indebted European Union member Hungary are waving the prospect of a passport at well-heeled foreign investors.
Proposed legislation listed on parliament's website would grant permanent residency and ultimately Hungarian citizenship to outsiders who buy at least 250,000 euros ($322,600) worth of special government bonds.
Hungarian passport holders are entitled to live and work throughout the European Union.
The move, backed by the ruling government party, is designed to attract new investors, especially from China.
Hungary has billions of euros worth of foreign currency debt maturing in the next few years and has explored a variety of ways to refinance.
Its plans include selling euro-denominated bonds to domestic buyers and trying to attract major new investors from Asia. Selling debt in western bond markets would happen only after tricky talks with international lenders wrap up, the government has said.
Budapest has asked for a financing backstop from the EU and the International Monetary Fund, but talks are dragging on and analysts see only a 50 percent chance of a deal.
The proposed legislation calls for the debt management office to issue special "residency bonds" to foreigners. Holders of at least a quarter of a million euros' worth of the paper would get preferential immigration treatment.
"The goal of the modification is to create the institution of 'investor residency' in Hungary," the lawmakers who put forth the legislation wrote in their proposal.
"The proposal ties gaining citizenship to buying bonds because it intends to aid state financing this way," they wrote. "Other investments from those applying for such residency could boost the real estate, retail and investment markets."
One of the authors of the proposal said Chinese investors were specifically targeted.
"The Chinese have articulated repeatedly that we should help their Hungarian investments," ruling party lawmaker Mihaly Babak told the daily Nepszabadsag. "If someone is a Hungarian citizen they have more (investment) opportunities."
"The condition of a preferential process is the purchase of 250,000 euros worth of bonds with a five year maturity ... We can attract capital from the so-called Third World this way and also finance reducing state debt."
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