...residents of a Bhopal, India awoke to a toxic cloud of methyl isocyanate (MIC) gas that had been discharged from the near-by Union Carbida India Limited plant. The deadly cloud infiltrated hundreds of shanties and huts as it slowly drifted in the cool night awaking sleeping residents to coughing, choking, and stinging eyes. By dawn the cloud had cleared and many were dead or injured. Reports of the incident were slow to reach America. Union Carbide, a U.S. corporation that owns 51% of the plant, based in Danbury Connecticut, was in the dark for many days. Union Carbide made front page across the country for months and is still considered the worst industrial disaster in the history of the planet. The official Indian government panel charged with tabulating deaths and injuries updated the count to more than 3,800 dead and approximately 11,000 with disabilities (Browning, 1). The chemical that was released, methyl isocyanate (MIC), is an ester of isocyanic acid (HNCO). It is highly volatile and inflammable and is easily produced and stored at room temperature. MIC, with phosgene as one of the substances used to manufacture it, creates immediate irritation, chest pain, breathlessness, and can trigger severe asthma. If the exposure is high, as in Bhopal, it leads to severe bacterial and oesinophihc pneumonia, tumour or laryngeal edema and massive cardiac arrest. The real problem, however, is that it sensitizes the skin and even a mild exposure proves lethal (www.ecoindia.com). Union Carbide...
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...“The Union Carbide Deal” presents critical issues of corporate survival and renewal involving difficult managerial finance issues. In the period under discussion Union Carbide – at the time one of America’s largest companies – dealt with severe shocks to its business and financial stability. The case reviews the company’s efforts to deal with its choices and with the involvement of key financial intermediaries in providing roadmaps to these choices. It illuminates the broad spectrum of alternatives available in the capital markets and the tradeoffs in following difficult alternatives. In particular it highlights the shifting emphasis between debt and equity as the company struggled with its financial demands. The case provides realistic understanding of the viewpoint of corporate financial management in crisis situations and the interplay with investment banks in finding the best solutions in the capital markets to deal with fundamental financial issues. The case “The Union Carbide Deal” highlights three phases of the company’s financial situation. The first phase includes the Bhopal plan disaster and GAF takeover attempt. The second phase is the debt burden, and the final phase is the bank financing and equity. In discussing the first phase, the Bhopal accident is really the catalyst for all the financial issues Union Carbide experienced from 1984 when it occurred until long past the end of the case and its eventual merger with Dow Chemical. As described in a New York...
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...The Union Carbide Deal (Abridged) The thrust of this case is an examination of how investment banks should oversee and advise clients on their debt management and structure and is a demonstration of how active debt management can affect a firm’s performance. The case examines Union Carbide Corporations approach to debt management and shows the relationship between financial practices, banking relationships and the necessity for banks to understand their client’s current situation and needs. At the time of the case Union Carbide had transformed from a Fortune 500 company with $9.1 billion in revenues in 1983 with a low debt level of 39% to a highly leveraged firm with a debt to equity ratio of 72% (a 33% increase) by mid 1986. This increase of debt stemmed from a highly publicized and disastrous gas leak at a Carbide plant in Bhopal, India in 1984. “The event rocked the company and dramatically affected its financial condition” (p. 2). Eight months after the gas leak, in August 1985, Union Carbide found itself to be an attractive takeover target. As part of its takeover defense in 1986 Union Carbide increased their debt levels and terminated jobs while closing plants and selling off businesses. The results of this restructure left Union Carbide with medium and long fixed rate debt of $2.5 billion and a weighted average interest rate of 14.2% which calculates to roughly $355 million interest paid yearly. This high interest rate was a consequence of a downgrade in Union...
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...1984, a leak of some 40 tons of Methylisocyanate (MIC) gas mixed with unknown other gasses from a chemical factory caused one of the highest-casualty industrial accidents of the 20th century. The Bhopal disaster was a gas leak incident in India, considered as the world's worst industrial disaster ever known to mankind. At least 2000 people died immediately and another 200.000 to 300.000 people suffered respiratory or got other injuries. The incident started by the ventilation of the poisonous gas to the atmosphere, namely Methylisocyanate (MIC). As the density of the gas is more than the density of the air itself, it has caused the accumulation of the toxic gas in a cloud form but it is close to the ground. Eventually the cloud of poisonous MIC gas streamed through the entire city of Bhopal like a sand storm on desert, leaving no chances for the citizens of Bhopal to rescue themselves The initial Indian managing and supervisory staff for the Bhopal production unit were trained in Union Carbide’s West Virginia. They began leaving for more attractive jobs and were replaced by less-skilled employees. Low production volumes seemed to justify reductions in the workforce though the local labor unions insisted that they were going too far. In the MIC, the workforce was reduced from the Union Carbide recommended 3 supervisors and 12 workers on each shift to 1 supervisor and 6 workers. In the evening of 2 December, the supervisor ordered workers to perform a periodic washing of pipes in...
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...- DRAFT - International Dimensions of Ethics Education in Science and Engineering Case Study Series Bhopal Plant Disaster – Situation Summary by MJ Peterson Revised March 20, 2009 During the night of 2-3 December 1984, a leak of some 40 tons of methyl isocyanate (MIC) gas mixed with unknown other gasses from a chemical plant owned and operated by Union Carbide (India) Limited, a partly-owned subsidiary of the US-based Union Carbide Corporation, caused one of the highest-casualty industrial accidents of the 20th century. At least 2000 people died immediately and another 200,000 to 300,000 suffered respiratory and other injuries of varying severity. Property damage consisted mainly of contamination to nearby areas by various chemical residues. The defoliation of trees immediately afterward is clearly attributable to the gas leak; contamination in the nearby settlements may have multiple sources, the contamination of the plant site resulted from many years of general production activity. India’s Economic Ambitions When India attained independence from Great Britain in 1947, its new political leaders wanted to make the country wealthier by encouraging development of modern industry. It had strong support from the citizens, who generally agreed that India’s current lack of industrialization and economic development were the result of these colonial-era policies. Thus the new government could expect widespread support for any policy that appeared to set the country...
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...depression, and the rise of organized labor. Consequently changes in the safety health field are often motivated by great tragedies that focus public attention on risks in the workplace. The Goals of this unit: * Identify the historic trends in industrial safety * Identify events that have impacted industrial safety To complete this unit you must 1. Read the chapter in the book 2. Review the PowerPoint slides 3. Look into the Bhopal accident using the video and searching the Internet to answer the following under the "Assignment tab" for : Session 2: History of Safety. 1. How many died as a result of the accident? 2. What has been the long term effects of the accident on residents 3. Look at the total number of injuries and deaths over for any 2 years on the BLS web site for (Take a look at data from Osha) Use the BLS link to find the data tutorials for: * Manufacturing * Construction * Mining * Agriculture en.wikipedia.org/wiki/Bhopal_disaster Bhopal disaster From Wikipedia, the free encyclopedia Jump to: navigation, search | The neutrality of this article is disputed. Relevant discussion may be found on the talk page. Please do...
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...Bhopal disaster Co o r din at es: 2 3 °1 6 ′ 5 1 ″ N 7 7 °2 4 ′ 3 8 ″ E From Wikipedia, the free encyclopedia The Bhopal dis as te r (commonly referred to as Bhopal gas trage dy) was a gas leak incident in India, considered one of the world's worst industrial catastrophes.[1] It occurred on the night of December 2–3, 1984 at the Union Carbide India Limited (UCIL) pesticide plant in Bhopal, Madhya Pradesh, India. A leak of methyl isocyanate gas and other chemicals from the plant resulted in the exposure of hundreds of thousands of people. The toxic substance made its way in and around the shantytowns located near the plant.[2] Estimates vary on the death toll. The official immediate death toll was 2,259 and the government of Madhya Pradesh has confirmed a total of 3,787 deaths related to the gas release.[3] Others estimate 3,000 died within weeks and another 8,000 have since died from gas- related diseases.[4][5] A government affidavit in 2006 stated the leak caused 558,125 injuries including 38,478 temporary partial and approximately 3,900 severely and permanently disabling injuries.[6] UCIL was the Indian subsidiary of Union Carbide Corporation (UCC), with Indian Government controlled banks and the Indian public holding a 49.1 percent stake. In 1994, the Supreme Court of India allowed UCC to sell its 50.9 percent share. Union Carbide sold UCIL, the Bhopal plant operator, to Eveready Industries India Limited in 1994. The Bhopal plant was later sold to McLeod...
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...Bhopal disaster From Wikipedia, the free encyclopedia Jump to: navigation, search Bhopal memorial for those killed and disabled by the 1984 toxic gas release The Bhopal disaster also known as Bhopal Gas Tragedy was one of the world's worst industrial catastrophes. It occurred on the night of December 2–3, 1984 at the Union Carbide India Limited (UCIL) pesticide plant in Bhopal, Madhya Pradesh, India. A leak of methyl isocyanate gas and other chemicals from the plant resulted in the exposure of hundreds of thousands of people. Estimates vary on the death toll. The official immediate death toll was 2,259 and the government of Madhya Pradesh has confirmed a total of 3,787 deaths related to the gas release.[1] Others estimate 3,000 died within weeks and another 8,000 have since died from gas-related diseases.[2][3] A government affidavit in 2006 stated the leak caused 558,125 injuries including 38,478 temporary partial and approximately 3,900 severely and permanently disabling injuries.[4] UCIL was the Indian subsidiary of Union Carbide Corporation (UCC). Indian Government controlled banks and the Indian public held 49.1 percent ownership share. In 1994, the Supreme Court of India allowed UCC to sell its 50.9 percent share. Union Carbide sold UCIL, the Bhopal plant operator, to Eveready Industries India Limited in 1994. The Bhopal plant was later sold to McLeod Russel (India) Ltd. Dow Chemical Company purchased UCC in 2001. Civil and criminal cases are pending in the United...
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...21st March,2012 A Report on Pro-Globalist Vs Anti-Globalist Indian Civilization depicts one of the oldest and most interesting chronology. The inception of the Indian Civilization took place in Indus Valley and therefore called Indus Valley Civilization (3300–1300 BCE) contemporaries of Mesopotamia and Egyptian Civilizations. Much lately, it was the great Chandragupta (321 BC) who expanded his Empire to Bengal and Assam in the east, to the Afghanistan and Baluchistan in the west, to Kashmir and Nepal in the north and to the Deccan in the south after defeating Nand Emperor. The trade & commerce was operated to India by land route only. Medieval history witnessed the glory of Indian subcontinent which attracted many Emperors to this rich and fertile land. It started with the invasion of Ghenghis Khan (1160-1227),who pursued an aggressive foreign policy which started with the Mongol invasion of East and central Asia. During his regime, Mongol empire eventually occupied most of the Asian nations. On the other side Alexander III of Macedon (356 BC) attacked India at 326 BC and lost the battle with Porus and returned thinking that perhaps India is the end of world. India remain the prime target of Sultans of Eurasia, Greeks, Romans and Turks. The rich resources of Indian soil attracted Timur Lane (1336-1405) who invaded India in Tughlaq dynasty and looted its resources .Ghulam, Khilji, Tuglaq, Saiyid, Lodi and finally with Mughal dynasties had ruled India. Just some years before...
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...Faculty of Economics Seminar paper on the subject: English 4 Crisis management June, 2012 Crisis management is the process by which an organization deals with a major event that threatens to harm the organization, its stakeholders, or the general public. The study of crisis management originated with the large scale industrial and environmental disasters in the 1980. Three elements are common to most definitions of crisis: (a) a threat to the organization, (b) the element of surprise, and (c) a short decision time. Venette argues that "crisis is a process of transformation where the old system can no longer be maintained." Therefore the fourth defining quality is the need for change. If change is not needed, the event could more accurately be described as a failure or incident. In contrast to risk management, which involves assessing potential threats and finding the best ways to avoid those threats, crisis management involves dealing with threats before, during, and after they have occurred. That is, crisis management is proactive, not merely reactive. It is a discipline within the broader context of management consisting of skills and techniques required to identify, assess, understand, and cope with a serious situation, especially from the moment it first occurs to the point that recovery procedures start. Introduction Crisis management consists of: * Methods used to respond...
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...213-255_Trevino_08p4.qxd 6/21/06 5:18 PM Page 213 PA R T IV ETHICS AND THE ORGANIZATION 213 213-255_Trevino_08p4.qxd 6/21/06 5:18 PM Page 214 CHAPTER 8 ETHICAL PROBLEMS OF ORGANIZATIONS INTRODUCTION In the third quarter of 2002, the Brookings Institution, a Washington, D.C., think tank, estimated that the corporate scandals that began with the Enron debacle in late 2000 would cost the U.S. economy $35 billion. That is the equivalent of a $10 increase per barrel of oil.1 It is, in a word, staggering. And we may not have seen the end of it. Long before Enron’s collapse, a number of business ethicists and business professionals watched with concern as Wall Street analysts demanded increasingly strong corporate financial performance to support rising corporate stock prices. At the same time, the gargantuan compensation packages (including stock options) of the top executives running these companies became inextricably linked to their companies’ stock prices. In 1990, average CEO pay at major corporations was 107 times the pay of the average worker. By 2004, CEO pay had risen to 431 times the pay of the average employee. (If the pay of average workers in the United States had risen as fast as CEO pay, the lowest paid workers would be earning $23.03 an hour, not $5.15 an hour.)2 It was an “accident” waiting to happen, although everyone was making so much money in the market that no one wanted to admit that something could be fundamentally...
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...GE 1301- PROFESSIONAL ETHICS AND HUMAN VALUES UNIT I & II – HUMAN VALUES The Story of a Carpenter An elderly carpenter was ready to retire. He told his employer-contractor of his plans to leave the house- building business and live a more leisurely life with his wife enjoying his extended family. He would miss his paycheck, but he needed to retire. They could get by. The contractor was sorry to see his good worker go and asked if he could build just one more house as a personal favor. The carpenter said yes, but in time it was easy to see that his heart was not in his work. He resorted to shoddy workmanship and used inferior materials. It was an unfortunate way to end his career. When the carpenter finished his work and the builder came to inspect the house, the contractor handed over the house key to the carpenter. “This is your house,” he said, “it is my parting gift to you.” What a shock! What a Shame! If only he had known he was building his own house, he would have done it all so differently. Now he had to live in the home he built none too well. (Modified from LIVING WITH HONOUR by SHIV KHERA) Do we find ourselves in similar situations as the carpenter? Moving through our work hours fast paced, driven to “get the job done”, without much thought to moral values. How do we regain our focus as individuals and organizations? This is the challenge for the employee and the employer. Ethics are fundamental standards of conduct by which we work as a professional. VALUES Values...
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...This page intentionally left blank Copyright © 2007, New Age International (P) Ltd., Publishers Published by New Age International (P) Ltd., Publishers All rights reserved. No part of this ebook may be reproduced in any form, by photostat, microfilm, xerography, or any other means, or incorporated into any information retrieval system, electronic or mechanical, without the written permission of the publisher. All inquiries should be emailed to rights@newagepublishers.com ISBN (13) : 978-81-224-2487-4 PUBLISHING FOR ONE WORLD NEW AGE INTERNATIONAL (P) LIMITED, PUBLISHERS 4835/24, Ansari Road, Daryaganj, New Delhi - 110002 Visit us at www.newagepublishers.com CONTENTS xvii Dedicated to My Parents Shri Gopalrao and Gayabai Kondalkar This page intentionally left blank Preface Globalisation, technology advancement, open market system and desire of human beings to excel in the field one works has increased competitiveness and resultant work stress. Management of human behaviour and chanalizing it into correct direction has become important. Application of motivational theories, art of leadership and skill of redesigning jobs and modification to organisational structure is an on going process that facilitates positive work environment leading to increased job satisfaction of employees, greater productivity and organizational growth. Due to scientific advancement managing human resources is more challenging. It has been observed that everybody...
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...1 The CASE Journal Volume 4, Issue 2 (Spring 2008) Table of Contents Click on the article or case title to go to that page Editorial Policy Letter from the Editor Case Abstracts Cases “Sally’s Dilemma: Making Tough Choices in Collaborative Visioning” Karl A. Hickerson, David J. O’Connell & Arun K. Pillutla, St. Ambrose University “The Death of a Salesman Revisited: Part A” Herbert Sherman, Long Island University & Daniel James Rowley, University of Northern Colorado “The Death of a Salesman Revisited: Part B” Herbert Sherman, Long Island University & Daniel James Rowley, University of Northern Colorado “Customer Service at the Jewish Community Center” Edward Demarais, Salem State College, Sandra Sheckman, & Gina Vega, Salem State “The Frozen Production Line” Anton Massman, U.S. Air Force, Elaine Davis & Janell M. Kurtz, St. Cloud State University “Dow Chemical and Agent Orange in Vietnam” Cedric Dawkins, California State Polytechnic University – Pomona Membership Form Page 2 The CASE Journal Volume 4, Issue 2 (Spring 2008) EDITORIAL POLICY The audience for this journal includes both practitioners and academics and thus encourages submissions from a broad range of individuals. The CASE Journal invites submissions of cases designed for classroom use. Cases from all business disciplines will be considered. Cases must be factual, and releases must be available where necessary. All cases must be accompanied by an instructor’s manual ...
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...[pic] McDonald's and the Environmental Defense Fund: a case study of a green alliance Sharon Livesey Originally published in…The Journal of Business Communication • January 1999 In 1987, the United Nations World Commission on Environment and Development, which had convened to address the global ecological crisis, produced Our Common Future (the Brundtland Report). This watershed event established the conceptual underpinnings for environmental politics and debate in the 1990s by reframing the problem of the natural environment as one of sustainable development. In the wake of this reframing, a new practice in environmental management emerged - that of green alliances or partnerships between business and ecology groups (Westley & Vredenburg, 1991, pp. 71-72). These alliances, considered one of the ten most significant trends in environmental management and the greening of industry (Gladwin, 1993, p. 46), appeared to signal a sea change in the way business, as well as environmentalists, could respond to the ecological impacts of firms' economic activities. Indeed, environmental partnerships offered both business and ecology groups the potential for a new rhetorical stance. Business communication scholarship has identified a variety of rhetorical strategies adopted by corporations in the face of environmental controversy: defensiveness and apologia (e.g., Ice, 1991; Tyler, 1992), competing information campaigns (e.g., Lange, 1993; Moore, 1993), or retreat (e.g., Seiter...
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