soxfirst
AWB: Between Iraq And A Hard Place
Filed in archive corporate governance by leon on February 10, 2006
BlogPicture
In Australia, the AWB-oil for food inquiry has claimed its first major scalp with the head of the AWB Andrew Lindberg resigning in the wake of allegations made in the UN report by former U.S. federal reserve Chairman Paul Volcker that AWB paid millions of dollars in bribes to the Saddam Hussein regime to secure wheat sales.

Certainly, evidence suggests that AWB had a culture that encouraged kickbacks to Iraq.

But AWB's weird corporate governance structure suggests it was a disaster waiting to happen. The owners of the company had no control so there were no checks and balances. You can find copies of the reports from Corporate Governance International here and here.



Permalink: AWB: Between Iraq And A Hard Place
Tags: AWB  Andrew  Lindberg  bribes  culture  corporate 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/15315
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for AWB: Between Iraq And A Hard Place:

  • Currently 10.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 10.00 out of 1 vote(s) cast.
 
Subscribe
Share It
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!