...1) Background and Issues Is Chevron guilty? This memo outlines the issues Chevron is facing through the Amazon lawsuit in Ecuador and identifies how the management can handle this squint situation. The Amazon lawsuit is a very big threat to the company’s profit, since the penalty payments will cover over 50% of the company’s current profit. To understand the situation of Chevron today we need to take a closer look at the background story. The Story goes back to the 1960’ies when Texaco, an acquisition of Chevron, was involved in the oil drilling in Ecuador. Back then Texaco had a Joint venture with Petro Ecuador which was mainly owned by the Ecuadorian government and had a share of 62.5 percent. This Joint venture named Texpet drilled 1.7 billion barrel oil from government properties until the end of contract in 1984. After finishing the work Texpet was suit by the Ecuadorian government, because of violation of environmental laws. These violations included the direct release of toxic wastewater into rivers instead of filtering and dumping in isolated areas and unclosed pipelines that additionally caused the pollution of soil, groundwater and plants. Back then Texpet paid a 40 million Dollar penalty and from 1995 to 1998 Texaco undertook a remediation of 161 out of 430 pits to clean their share of agreements according to the governments criteria. The Story of Texaco in Ecuador seemed to be terminated, but the appearances were deceptive. A cancer study by the Harvard medical...
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...World Bank, U.S. Agency for International Development, and other foreign “aid” organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization. I should know; I was an EHM. I wrote that in 1982, as the beginning of a book with the working title Conscience of an Economic Hit Man. The book was dedicated to the presidents of two countries, men who had been my clients, whom I respected and thought of as kindred spirits—Jaime Roldós, president of Ecuador, and Omar Torrijos, president of Panama. Both had just died in fiery crashes. Their deaths were not accidental. They were assassinated because they opposed that fraternity of corporate, government, and banking heads whose goal is global empire. We EHMs failed to bring Roldós and Torrijos around, and the other type of hit men, the CIA-sanctioned jackals who were always right behind us, stepped in. I was persuaded to stop writing that book. I started it four more times during the next twenty years. On each occasion, my decision to begin again was influenced by current world events: the U.S. invasion of Panama in 1980, the first Gulf War, Somalia, and the rise of Osama bin Laden. However, threats or bribes always convinced me to stop. In 2003...
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...I. The extraction of petroleum dates all the way back to 1878, in the Santa Elena Peninsula. In Ecuador, minerals are owned by the government and developed through government entities. In 1964, Petro Ecuador, which is Ecuador's state oil company and Texaco Petroleum, created a business partnership called a consortium, to produce oil in the Orient region of the Amazon. Texaco Petroleum's was under a 28-year concession agreement with the government. During this time period plaintiffs believe, the company is responsible for billions of gallons of oil dumped in the region. Also, that this pollution has caused the loss of livelihood, and the widespread health problems including 1,400 related deaths. When Chevron took over Texaco in 2001, they acquired this lawsuit. Today, Chevron is not involved in producing oil in Ecuador. A. One of the issues following Chevron is whether or not Chevron had the proper jurisdiction as a corporation to operate outside our national borders, in Ecuador. As a corporation the first step in moving operation into other countries, is first receiving approval form the share holds. Corporations must seek proper approval from there shareholders before seeking many changes. Corporations often engage in an acquisition of other corporation by a friendly merger. A merger happens when two corporation come together. One corporation is absorbed into the other corporation. However the merged corporation ceases to exist, leaving the surviving corporation...
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...and are within an hour drive from Quito, the capital of Ecuador. The altitude is around 10,000 feet up and the rose farms are at the foot of volcanoes that rise more than 20,000 feet. The rose fields benefit from fertile soil, high altitude, and the intense sunlight that lasts up to 12 hours each day. The location close to the equator makes an ideal growing condition and the roses thrive. They have vibrant color and large heads. They are prime roses and fetch a premium price. Because of the location and conditions, the roses flower year round. All these are the basis of Ecuador’s comparative advantage in the production of roses. From the importation of Ecuadorean roses, people, company or organization who handle this business in of New York city of the United States and London city of Europe. Because they are selling the roses which are fresh, vibrant colored, including 10 different reds, from bleeding heart crimson to a rosy lover’s blush, for premium prices to people who lives in their city. Then sellers can get profit from differentiation between income which they got from selling and money which paid to Ecuadorean rose supplier. In the meantime, sellers who sell roses from their own country will be lost because they could not get and do business with fresh and fancy roses like Ecuadorean roses. Absolutely it is more beneficial both seller and demander as well supplier. Rose export industry benefits Ecuador. Ecuador is now the world’s fourth-largest producers of loses....
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...spanishSenora Cressman Spanish 4/Mod January 13 2011 Famous People and Festivals The country of Bolivia is named after Simon Bolivar. Though he was not born in Bolivia, but born in Venezuela, he was Bolivia's main political leader. He was one of Bolivia's founding-fathers and served as Bolivia's president from August 12, 1825. December 29, 1825. He also played an important role in helping other South American countries gain independence from Spain and served as president in other countries of South America. His parents were Colonel Juan Vicente Bolívar y Ponte, and Concepción Palacios Blanco. He had two older sisters and a brother: María Antonia, Juana and Juan Vicente. There was another girl, María del Carmen, who died at birth. Before he was three years old, Simón lost his father, who passed away in January of 1786. He played an important role in the liberation of a large part of South America from Spanish rule in the 19th century. On his visit to Europe, Bolivar got the opportunity to witness the coronation of Napoleon. This incident sparked the idea of revolution in his mind, so on returning home, he joined the Venezuelan revolution. He was barely in his 20s then. His victory spree came to an abrupt halt, when his forces were defeated by the Royalist army in 1815, and he was exiled to Jamaica. Eventually, a victory in Peru in 1824, led to the end of Spanish rule in the continent, making Bolivar a powerful force in Latin America. Bolivar died due to tuberculosis...
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...Culture of Ecuador and the Glapagos Islands Meghan Lazor Ecuador is South America’s second smallest country and is regarded as one of the most geographically and ethnically diverse countries on the continent. The Galapagos Islands are part of Ecuador with a small population of only 10,000 people. Both culture-rich countries are largely uncharted, making them an exciting and adventurous place to visit. Ecuador is located in the northwest corner of South America with the Galapagos Islands to the west. The equator runs across the country which is what gave Ecuador its name. The variation in climate transfers into the lifestyle of its people causing a large range of cultures throughout the country. The diversity in geography for both countries affects how and where the country is inhabited. In Ecuador main cities can sit alone in the center of large rain forests making travel from one city to another often dangerous on roads for hours at a time. Sometimes native tribes may reside in the forests that surrounded the civilized lands. These indigenous people live in wooden shacks with no electric or running water and will occasionally walk the city streets. Ecuador can be split up into four parts, geographically; the Costa (coast), the Sierra (highlands), and El Oriente (the east; which includes the Amazonic region). The Galápagos Islands, or Archipiélago de Colón, also belong to Ecuador.(Encyclopedia, 103) The official language of Ecuador is Spanish, but fortunately in tourists...
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...Exchange Rate * The currency was changed in 2000 in Ecuador to use US dollar. Five Major Tourists Sites * Mitad Del Mundo- 30-meter-tall monument * The Galapagos Islands- Beautiful Beaches * Amazonia- It has Rainforests * Cuenca- Historical area * Cotoeaxi- It is a stratovolcano located near Quito. Sources: http://www.factmonster.com/ipka/A0107479.html http://www.historyofnations.net/southamerica/ecuador.html Ecuador By: Carrie Large Ecuador is divided into three continental regions: the Costa (coast), Sierra (mountains), and Oriente (east). Also the Galapagos Island is considered Ecuador. Each region has different factors that affect its climate. The Costa is influenced by the warm or cool ocean currents. The Sierra changes because the altitude. The Oriente climate slightly changes from the other two regions. Climate in the Galápagos Islands is by the ocean currents and affected by altitude. * When traveling to Ecuador the different regions require different clothing. The Costa and Galapagos Islands requires tropical clothing. * The Sierra requires warm clothing because it is a mountainous area. * The Oriente requires both depending on the weather that day. Geography and Climate The best way to get around * Chifles (Plantain chips) about 1.10 * Arroz con Menestra y Carne (Beef with rice and beans) 4-10 $ * Bollos de Pescado (Fish and peanut wrapped in banana leaves) It ranges * Muchines de Yuca (Stuffed...
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...Complete the case studies for this week. Review the case studies below in the textbook. Prepare a one-page report for each of the following case studies: * Case Study: Martha Stewart’s Lost Reputation, pg. 34 * Case Study: Texaco: The Ecuador Issue, pg. 41 * Case Study: Where Were the Accountants?, pg. 44 Ethics Case: Martha Stewart’s Lost Reputation In June 2002, Martha Stewart began to wrestle with allegations that she had improperly used inside information to sell a stock investment to an unsuspecting investing public. That was when her personal friend Sam Waksal was defending himself against Securities and Exchange Commission (SEC) allegations that he had tipped off his family members so they could sell their shares of ImClone Systems Inc. (ImClone) just before other investors learned that ImClone’s fortunes were about to take a dive. Observers presumed that Martha was also tipped off and, even though she proclaimed her innocence, the rumors would not go away. On TV daily as the reigning guru of homemaking, Martha is the multi-millionaire proprietor, president and driving force of Martha Stewart Living Omnimedia Inc. (MSO), of which, on March 18, 2002, she owned 30,713,475 (62.6 percent1) of the class A, and 30,619,375 (100 percent) of the class B shares. On December 27, 2001, Martha’s Class A and Class B shares were worth approximately $17 each, so on paper Martha’s MSO class A shares alone were worth over $500 million. Class B shares are convertible into...
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...DE LENGUA Y LITERATURA 10 de Agosto de 1809. El 10 de agosto de 1809, es una fecha memorable para los ecuatorianos al recordar el Primer Grito de la Independencia. Esta Declaración, marcó un hito en la historia del Ecuador ya que desde aquí el pais empezo una nueva era de libertad lo que trajo nuevos cambios politicos, sociales y económicos. Cuando los criollos se declararon en contra del presidente Ruiz de Castilla, estos crearon un nuevo gobierno lo que trajo un gran cambio politico del pais: la primera constitucion ecuatoriana. El 17 de agosto en la Catedral de Quito se hizo publico el cambio de gobierno mediante un acto politico-religioso en el que todo el publico presente juro hacer todo bien y lo mejor por el Pais y la Constitucion. Sim embargo, se conoce que el estado ecuatoriano comienza a existir desde 1830 luego de la disolucion de la gran Colombia cuando en Riobamba se firmó la declaración el mismo año. Sin embargo la constitución del 10 de Agosto es considera el indicio ya que a partir de ahí el Ecuador entro en un proceso de 21 años para convertirse en la Republica del Ecuador. Este tipo de cambios hizo que el Ecuador de un gran paso para los sistemas políticos que tenemos en la actualidad, ya que a partir de los sucesos en el Ecuador comenzó a vivir a una época modernidad, eliminando los sistemas de Gobierno basados en tradición, como la monarquía de derecho divino la cual fue abolida y se crearon nuevas leyes basadas en la razón y en lo que el pueblo...
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...CRECIMIENTO DE LAS CIUDADES EN EL ECUADOR …. ¿ESTAMOS PREPARADOS PARA EL FUTURO ? Javier Salazar Gallardo Es innegable el crecimiento acelerado que tienen hoy en día las ciudades en todo el mundo. Cada día miles de personas dejan los campos para vivir en asentamientos urbanos, así como también, cada día más personas se integran al mundo laboral, al comercio que está concentrado en las ciudades donde se reúne una gran población que requiere productos o servicios. Como consecuencia, las ciudades crecen y por lo tanto aumentan sus necesidades de energía, agua, servicios básicos, etc. Una ciudad que sobrepasa los 10 millones de habitantes se conoce como megaciudad. Si bien es cierto de acuerdo a las estadísticas de crecimiento de la población ecuatoriana, ninguna ciudad de nuestro país alcanzará la categoría de megaciudad, estas si crecerán bastante y alcanzarán niveles en los cuales se presenten a menor escala los mismos problemas que presentarán las grandes ciudades del mundo. Debemos por tanto hacernos la pregunta: ¿Estamos preparados para enfrentar este fenómeno de crecimiento urbano en el futuro? De acuerdo a un informe publicado por las Naciones Unidas, En 1950, una tercera parte de la población mundial vivía en ciudades. Sólo 50 años después, esta cifra aumentó a la mitad y continuará aumentando a dos tercios, o 6 000 millones de personas, en 2050. Estas cifras muestran una realidad en todo el planeta: en las ciudades reside actualmente más de la mitad de la población...
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...Five characteristics defined the physical environment of the Inca Empire; high elevation, low temperature, low precipitation, steep mountains and poor vegetation. All of these characteristics influenced how the Incas lived in every way: what they ate, how they managed food and living conditions, and ways of surviving. The Incas developed methods and systems like the Chaquis system, which helped with communication, and system of warehouses and granaries to evenly distribute food throughout the empire. The Inca Empire was located at very high altitude on the Andes Mountains. As a result of this high altitude, the level of oxygen and the temperature was very low. Vegetation was scarce and the trees very short because of the cold and the low level of oxygen. At the level of Tierra Templada, which included many small trees and shrubs, the temperature was cold. There was also very little rain in the Inca Empire; less than 2 inches of rain a year; the land was as almost as dry as any desert. The mountains were very steep and hard to climb up and down. The only crop they could plant on these conditions was the potato. The potato was a very important staple food for the Incas. Along with the potatoes, the Incas ate cuy, which was guinea pig meat. Since the mountains were very steep, there wasn’t much flat land to grow potatoes. So, the Incas created a method of terrace farming where they would make large steps to grow food on. The Incas also built roads out of stone to be able to walk...
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...records in the Pre-Columbian America. Its North Chico civilization, for instance, is one of the most ancient communities in the world. Adding to that, the Incan Empire used to be the most immense state within Latin America in the 1400s. This essay will discuss three aspects of Peru's culture that would hopefully encourage you go there. Peru celebrates their independence, just like the United States. Fiesta Patrias, which takes place on July 28th, and 29, honors Simon Bolivar as a national hero. Many streets and school bear his name, for he assisted significantly in freeing Peru from Spanish grasp. However, he did not only liberate Peru. This man was revered and distinguished throughout Latin America. Other countries he made free include Ecuador and Venezuela. The holiday is celebrated through food, music, costumes, and flags that are displayed everywhere. As a result, this national day in Peru is just like the one here in the United States. Every nation in the world has its own unique dance, and in this case, Peru’s most popular dance is called La Marinera. This is a romantic and elegant dance in which white handkerchiefs are used as props. Boys wear a poncho and a hat, and on the other hand, females wear a simple and typical regional dress. There is even an annual event in the Monsiche that takes place in January with participation of dancers as young as three or four. In this dance, both dancers twirl around in circles. The female uses her handkerchief to attract the male,...
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...The Andes form the backbone of Ecuador, Peru, Bolivia, and Chile. It is the longest unbroken mountain chain in the world, soaring higher than any range except the Himalayas in South Asia. Some of the Andes’ snowcapped peaks tower more than 20,000 feet (6,000 m) above sea level. The Andes have shaped not only the physical geography of the Andean nations, but also the economies and lifestyles of the people who make their homes in this region. The Andes stretch some 5,500 miles (8,850 km) all the way from the Caribbean Sea to the southernmost tip of South America. At places in Peru and Bolivia the mountain range is nearly 500 miles (800 km) wide. Its rocky walls divide the Andean nations into three distinct environments: coastal plain, highlands, and forest. Coastal Plain Between the mountains and the sea, a narrow plain stretches along the entire Pacific coast from Colombia to the southern end of Chile. At some points it is no more than a sandy beach at the foot of the mountains; in other places it reaches inland for 100 miles (160 km). The Atacama Desert, the driest and one of the most lifeless places on earth, occupies the coastal plain in northern Chile. Because ocean winds lose their moisture blowing across the cold waters of the Peru Current, only dry air ever reaches the land, creating a desolate wasteland. The Atacama is so dry that archaeologists have found perfectly preserved relics from ancient times. These include colored textiles woven hundreds of years ago...
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...The term Floribbean arrived in culinary lingo within the last 10 years. The word Floribbean comes from the combination of Florida, Caribbean, and South American cultures (Chef Jon, 2013). Floribbean cuisine roots go back to when the Spanish were exploring the New World (Nemes, 2007). Ponce de Leon and De Soto introduced cattle and pig to an area that was mainly fish and wild game. The Native Americans taught the Spaniards about the fruits and vegetables in the area. These include plantains, hearts of palm, and yucca fruit. The Native Americans also taught the Spaniards how to fish and prepare seafood. The blended cooking style of the Spanish and French is the base of Floribbean (Chef Jon, 2013).. Floribbean cuisine influence comes from the Bahamas, Cuba, and Jamaica. Floribbean variety of taste stems from Cuba, the Dominican Republic, and Haiti. Floribbean cuisine is called “New World Cuisine”. The food is infused with mango, citrus flavors, and Florida's exotic fruits. The use of local produce, fish, and seafood with traditional uncommon spices make the food one of a kind (Chef Jon, 2013). In the 1950’s, when Cubans came to Florida is when the most influence of Floribbean Cuisine came about (Nemes, 2007). Cubans mixed Spanish flavors with Caribbean ingredients. More influences came from the Dominican Republic, Haiti, Nicaragua, and other South American countries. There is a huge emphasis on using fresh food in Floribbean cooking (Nemes, 2007). There is a large...
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...Question 1. What is the explanation for the fact that although the GDP for the Province of Galapagos increased over a six-year period from 1999 to 2005, the per capita GDP for the same period showed a modest increase of less than 2 percent? Essentially, the increase in GDP can be explained by examining the following: tourism, the destruction of the marine ecosystem, and the preservation, or lack thereof, of the Galapagos Islands. The number of tourists increased from 68,850 per year in 2000, to 108,400 in 2004 and this was, in large part, good for the economy. The arrival of each tourist to the island catapulted the economy to new heights. Additionally, the renovation of an old military airstrip on the island of Baltra was a significant contributor to the economic boost of the area. Commercial airlines established regular flights to the islands, and the Ecuadorian government along with the National Parks Service had to, as a means of coping with the influx of tourists, implement strict visitation rules for tourists of the islands. The increase in tourism generated hundreds of tourism-related projects, such as constructing new hotels, and at one point, many immigrants came to Galapagos to seek work in this burgeoning environment. The marine ecosystem was not immune to the effects of tourism either. In fact, bottom fishing and illegal catching caused the depletion of marine reserves. The destruction of fish stocks and China’s increasing thirst for shark fins and sea cucumbers...
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