Corruption and Locusts27 Apr 2007
One the one hand, here it is currently en vogue to complain about amoral American hedge funds, comparing them to locusts. Today on NDR Info I heard about the shareholders' meeting of Cewe Color. Its hedge fund shareholders are demanding the resignation of the CEO and a special debt-financed dividend for shareholders (i.e. themselves).
On the other hand, this week Klaus Kleinfeld resigned as chairman of Siemens. A big factor in his resignation was apparently the tougher corporate ethics regulation in the US, which applies to Siemens since it is listed on the NYSE.
I'm confused now about which country has the more moral corporations.