THE HIMALAYAN TALK: PALASH BISWAS TALKS AGAINST CASTEIST HEGEMONY IN SOUTH ASIA

THE HIMALAYAN TALK: PALASH BISWAS TALKS AGAINST CASTEIST HEGEMONY IN SOUTH ASIA INDIA AGAINST ITS OWN INDIGENOUS PEOPLES

PalahBiswas On Unique Identity No1.mpg

Sunday, June 13, 2010

FIIs shifting focus from emerging mkts!India readies 25,000 deal souls to be shipped to Dow Chemicals in US...Dow Chemicals pushed, ordered Indian govt!

FIIs shifting focus from emerging mkts!India readies 25,000 deal souls to be shipped to Dow Chemicals in US...Dow Chemicals pushed, ordered Indian govt!

CBI accepts prosecution was not good in Bhopal gas leak case!



Troubled Galaxy Destroyed Dreams- Chapter 498

Palash Biswas


http://indianholocaustmyfatherslifeandtime.blogspot.com/

Indian Politics is all about Power and has NOTHING to do with the Sovereignty of the REPUBLIC, Democracy, Freedom or Indian Majority Masses Excluded and selected for Ethnic Cleansing as India readies 25,000 deal souls to be shipped to Dow Chemicals in US! Nitish Kumar and JDU Play the Brhmin Marxist role to sustain Muslim Vote Bank but is all set to continue the Part of The Brahaminical NDA! But it is nothing to do with the Resistance against Strategic Realliance in US ISRAEL Lead, Indo US Nuclear Deal, N-damage Bill or Economic Reforms as RSS and the Brahaminical Marxists play the same role!

As Ronald reagan succeeded to bail out the American Butcher of Bhpal and defended US Chemical Warfare Progrramme using World Bank and IMF, the History repeats once agian as

FIIs shifting focus from emerging mkts!With the US dollar strengthening due to the eurozone turbulence, the rupee is losing ground and foreign institutional investors (FIIs) are shifting their focus from emerging markets like India.

Analysts feel that the European debt crisis, which brought the euro to its lowest level in four years, coupled with a weak rupee, is leading to the FIIs cutting down their exposure in India. They are investing more in corporate and government bonds and gold in developed economies.

During the April-May period, the rupee has weakened by 3.5 per cent against the US dollar, while it had strengthened by 6.42 per cent against the euro in the same period.


"The Indian rupee continued its depreciation journey in the past fortnight as ongoing economic worries in the euro zone led to concern of another round of recession.


India may attract more capital flows: RBI

India is likely to witness a surge in capital inflows as investors may find the country an attractive bet in the backdrop of an uncertain global environment, a top Reserve Bank official said.

"Money tries to come to places where it gets better returns. So from the point of view of capital flows, you do have the likelihood of more uncertainty in the rest of the world and therefore more money coming to India," RBI Deputy Governor Usha Thorat said.

Foreign Institutional Investors have, so far, invested around USD 5 billion in the domestic share market against a total investment of USD 17.45 billion in 2009.

Policymakers, worldwide, are watching the developments associated with the euro zone crisis, which broke out after Greece nearly defaulted on public debts.

To avert the deepening crisis, euro zone countries and the International Monetary Fund formed a USD one trillion rescue package to bail-out Greece.

The Reserve Bank, which has started withdrawing emergency monetary stimulus measures of the crisis period, is in a dilemma about hiking policy rates next month to facilitate the exit while the recovery is still nascent.



CBI accepts prosecution was not good in Bhopal gas leak case!

Facing flak for alleged shoddy prosecution in the 1984 Bhopal gas leak case, the CBI has accepted that its prosecution was not good as compared to the accused who brought a battery of lawyers to defend them.

"CBI accused come in court with an entire team of lawyers as compared to our side which has just one Public Prosecutor. In Bhopal (gas leak) case also there used to be a team of five-six advocates from the side of the accused," CBI director Ashwani Kumar said on the sidelines of a function here.

Kumar said after seeing this, the CBI has also decided to follow the same to improve the prosecution.

The director said while the agency's investigations were good, the problem area was prosecution and trial. "Our investigations are good but our weakness is prosecution and trial. We want to focus on these areas more".

Kumar, however, added that trial was not in agency's hand and matter totally in the court domain.

The CBI director had a word of advice to look ahead and not to conduct "post-mortem of a 25-year-old case".

Kumar said the effort should be that such a tragedy never happens again, but if happens, then victims should be given immediate relief and those behind the incident should be punished.

He also defended the decision of the court saying that maximum punishment that could have been given as per the chargesheet has been given.

He said the court gives its decision on the basis of the chargesheet.

The chargesheet was according to the Supreme Court and we were able to get maximum punishment according to that, Kumar said.




pranavnda95 writes very well:

In 1984, India government signed a deal with then Union Carbide, on exchange of 25,000 dead souls of Indian factory worker in exchange of $220 a piece.

The delivery date for the shipment was set for sometime in 2010. The Indian government gave a reason at the time of signing deal that it will take them almost 25 year for people of India to forget dead people. Than only they can ship these souls otherwise it would be impossible for them to sign the deal so cheaply.

Now that Dow Chemicals has bought Union Carbide, Dow will take the shipment of the dead souls on behalf of Union Carbide and Indian Government. The dead soul will be lead by Warren Anderson, then CEO of Union Carbide when these were collected for the purpose.

Warren Anderson says that he is ready to lead the pack in few years from now. By the time he will be ready, the dead souls will be trained to work in various chemical factories around the world.

Dow Chemical thinks that if the program is successful they will be able to layoff all their workforce and use these dead souls to handle dangerous work.

Dow Chemical is still silent on this published report of buying 25,000 lives in Bhopal in 1984. They say that it was Union Carbide business decision and not them. But since they have acquired Union Carbide, they are only responsible for tangible assets of the company, including copyright over dead souls

http://www.spooftimes.com/spooftimes/NewsDetail.aspx?articleId=f1f42170-ae1d-435a-b4cd-05df3f915362&AspxAutoDetectCookieSupport=1

Former Prime Minister Rajiv Gandhi's Principal Secretary P C Alexander has denied that former Union Carbide Chairman Warren Anderson, the prime accused in the 1984 Bhopal Gas Tragedy was given consent to leave the country after the catastrophe. On the other hand, Finance Minister Pranab Mukherjee Sunday said that then Madhya Pradesh chief minister Arjun Singh had decided to send Union Carbide Corporation CEO Warren Anderson out of Bhopal in view of the deteriorating law and order situation after the gas tragedy in 1984.

Mukherjee, speaking to reporters here, quoted Arjun Singh's statement on Dec 8, 1984, five days after the gas leak at the Union Carbide India Ltd's pesticides unit in Bhopal that killed an estimated 25,000 people over the years.

"In his statement, Arjun Singh had clearly said there was deterioration of law and order... Therefore it was thought right to send him out of Bhopal. Arjun Singh made the statement December 8, 1984 as chief minister," said Mukherjee, the number two in Prime Minister Manmohan Singh's United Progressive Alliance (UPA) government.

On the question of extraditing Anderson, he said: "The question of extradition has come up. We will explore the possibility of extradition."

He refused to comment on the verdict delivered by the Chief Judicial Magistrate's Court in Bhopal June 7, but said the government will go to a "higher judiciary".

Singh has not broken his silence on issues related to the gas tragedy since the court June 7 convicted seven accused in the gas leak case. However, they were sentenced to a mere two years in jail and were immediately freed on bail.

Anderson, a proclaimed offender in India in the 1984 chemical disaster, is currently in the US.

The Congress has been facing uncomfortable questions on who had ordered Anderson's extradition hours after his arrest in the aftermath of the tragedy, with some suggesting that he was allowed to go out of the country following a directive from the central government.

On the intervening night of December 2-3 1984, poisonous methyl-iso-cyanate gas leaked from the Union Carbide plant in Bhopal, killing thousands immediately and many more over the years and maiming numerous others.

Soon after the judgment, which came after a court case lasting nearly 25 years, the circumstances in which Anderson fled India have become a raging controversy.

"The question was put to me repeatedly, do you know that Mr. Rajiv Gandhi gave his consent. I said I do no know. Did he consult with you? I said he at that time did not consult anything or I did not talk to him on Warren Anderson at all," said Alexander.

"The case of Warren Anderson going or being send back to America why, under what conditions, none of these things was known to me at that time," he added.

A District Magistrate's Court in Bhopal had on June 7 convicted all eight accused on grounds of negligence under Section 304 (a) for the tragedy.

The court also granted bail to seven of the eight accused and released them on submission of a bond and a surety of Rs 25,000 each.

The eight accused are Keshub Mahendra, Vijay Gokhle, Kishore Kamdar, J Mukund, S P Choudhary, K V Shetty and S I Qureshi and R B Roy Choudhary. Out of the accused R B Roy Choudhary, then former Assistant Works Manager Union Carbide India Ltd (UCIL), Mumbai, died during the trial.

Anderson, the chairman of Union Carbide Worldwide, has been designated an absconder.

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Carbide cash for trust tied to Arjun

Bhopal, June 12: Union Carbide had donated Rs 1.5 lakh to a trust associated with Arjun Singh's family when the veteran politician was the chief minister of Madhya Pradesh.

Such donations are not illegal but the payment serves to underscore the cosy relationship between the company and the then Madhya Pradesh administration, which assumes significance in the wake of the uproar over the then Union Carbide chief Warren Anderson being allowed to fly out of Bhopal in a government plane.

A pilot had said the call clearing the flight had come from the office of Arjun, who was the chief minister when the tragedy unfolded in December 1984.

The trust, called the Churhat Children's Welfare Society, had received Rs 150,000 from the US-headquartered company under the head "donation collected for building from Union Carbide".

A copy of the audited account of the society, dated June 15, 1983, suggests the donation had been made between June 1, 1982, and March 31, 1983 (see graphic below). The Bhopal gas tragedy took place in December 1984. Arjun was chief minister during these years, his first stint stretching from 1980 to 1985.

S.N. Gupta, a Bhopal-based chartered accountant who was handling the Churhat society's audit, said he had come across the reference to the Carbide donation. "Yes, I recall having recorded such a transaction," Gupta said.

Apart from the chartered accountant, a person named Ajay Singh signed the document as secretary of the society on June 15, 1983. Arjun has a son named Ajay Singh. Ajay could not be contacted today as repeated calls to his home went unanswered.

The title Churhat society, once part of the political lore, will stir unsavoury memories for Arjun. The veteran politician's association with the society had come under public scrutiny when it floated a phoney lottery.

The issue had snowballed into a scandal amid allegations that Arjun had siphoned off funds to construct a palatial mansion in Bhopal near the Kerwa dam.

The controversy had whipped up such an uproar that Arjun was forced to exit as chief minister in January 1989 during his third innings at the helm of the state.

His name was finally cleared by the high court.

During the legal battle, a court had made an observation that Arjun owed an explanation to the nation on the source of funds that were used in constructing the house. Arjun's family now lives in the house, called Dev Shree.

Arjun, who had met Sonia Gandhi on the day the gas tragedy verdict was delivered, has not yet spoken out on allegations that he had bailed out Anderson. Neither has he revealed who had called him from Delhi with a request to ensure that Anderson was allowed to leave.

Rajendra Kothari, who was a manager with a well-known company in Bhopal, said: "Prior to the gas leak, Union Carbide was a sought-after company. Contractors, government officials and politicians used to proudly flaunt their association with the company. I am not surprised if it had tried to oblige the chief minister by donating in a society that had his patronage."

However, Arjun's party colleague and former Madhya Pradesh chief minister Shyama Charan Shukla had viewed Carbide with suspicion, at least in hindsight.

Shukla, whose brother Vidya Charan was linked with some of the excesses of the Emergency, was chief minister in 1969 when Carbide had set up the plant in Bhopal.

Shukla, who died a couple of years ago, had written an article in a Hindi daily two weeks after the 1984 gas leak: "Carbide's intentions were always dubious. As chief minister in 1969-72 and 1975-77, I always wondered why Carbide officials were so eager to please government officials. After all, professionalism demanded that they stick to their work and we to ours."

The audited account of the society that mentions the Carbide donation

 

http://www.telegraphindia.com/1100613/jsp/frontpage/story_12560376.jsp

Deport plan for Bangla migrants
Mayavati

Lucknow, June 12: The Mayavati government today said it had identified 8,500 Bangladeshis living illegally in the state and planned to deport them, wading into a sensitive political issue in an attempt to hijack a BJP plank.

State home department officials said that once the police had verified all the alleged Bangladeshis' antecedents, deportation would be recommended. They added that most of these Bengali-speaking settlers were Muslims and lived in Meerut, Lucknow and Noida.

State home secretary Deepak Kumar said 57 Bangladeshis had been arrested and 18 deported in the first five months of this year.

Such deportation, however, hardly achieves anything because Dhaka refuses to accept the alleged immigrants as its citizens. "After the BSF pushes them into Bangladesh, that country's border troops again push them back into India," an official said.

Also, the issue can be thorny, with the Bengal Left often alleging that Muslims from Bengal are branded Bangladeshis and victimised by the police of other states.

The BJP had attempted to orchestrate a campaign in 1999-2004 for the deportation of illegal Bangladeshi immigrants. Political analysts said Mayavati was trying to hijack the issue to win over some of the BJP's upper caste Hindu voters.

An official claimed the Mayavati government had started the drive because of the terror attacks in the state by "home-grown terror modules".

Samajwadi Party leaders were quick to claim that the Mayavati government was targeting their supporters by branding them Bangladeshis. However, like the Left in Bengal, the Samajwadis here have often been accused of issuing ration cards to Bangladeshis to "naturalise" them and create a vote bank.

"The state government is aware of the sensitivity of the issue. We will verify all the details of their identity before deporting them," said R.K. Srivastava, an official of the immigration unit of state intelligence.

Home secretary Deepak Kumar said most of these settlers — about 6,000 — lived in Meerut in western Uttar Pradesh, 350km from here, and about 1,800 in Lucknow.

"In Meerut, they try to merge themselves in the mainstream Muslim society but their broken Hindustani gives them away. They settle in Meerut because it is easier for them to travel to Delhi in search of work," an official said.

"In Lucknow, they work as labourers in the unorganised sector and their women work as housemaids."

Another home department official said that some 350 Bangladeshi nationals had been identified in Noida but their number there could be higher.

Many of these Bangladeshis are engaged in human trafficking, an official alleged. He said the police had arrested four Bangladeshis, including a woman, in January from Saharanpur district and they had admitted to running a trafficking racket for the past five years.

"They were bringing Bangladeshis to India by promising them jobs and were charging money from them," the official said.

http://www.telegraphindia.com/1100613/jsp/frontpage/story_12560339.jsp
BJP loses appetite for dinner, not pact
Narendra Modi in Patna on Saturday. Picture by Deepak Kumar

Patna, June 12: The BJP declined Nitish Kumar's dinner invite after his public snub to Narendra Modi but scrambled to deny any rift between the two NDA allies.

Party spokesperson Shahnawaz Hussain dismissed reports that Arun Jaitley and M. Venkaiah Naidu had rushed to meet Nitish and pacify him. "He (Nitish) is not upset," Hussain said.

Sources, however, said Jaitley and Naidu had been prevented from going to Nitish by the BJP's Bihar MLAs. The MLAs apparently said that if the leaders decided to humour Nitish on this point, they might as well merge the BJP with the Janata Dal (United).

Hussain claimed the party had decided to give the dinner a miss because the leaders wanted to prolong their discussions at the national executive, which began here today.

"Our meeting is far more important than any dinner. It would have been a waste of time to curtail the session and leave the hotel. So we are going to sit late tonight and have a working meal. The nation's reconstruction is more important than a dinner," he said.

The BJP decision seemed to have suited Nitish fine and he promptly cancelled the dinner without citing any reason.

A Dal (United) leader close to Nitish said the chief minister had been "uncomfortable" all along with the idea of having Modi as a guest but could hardly tell the others that while they were welcome, Modi was not. The advertisements purportedly funded by the Gujarat government showing Modi as a "role model" for Nitish became the perfect excuse for the Bihar chief minister.

"The BJP got the hint. But there was no way they could have told Modi 'Don't come but the rest of us will go'," the Dal (United) leader said.

It helped that Nitish had not sent out formal invites. "We were informally sounded out on the dinner and scheduled the proceedings accordingly," a local BJP leader said.

Asked about Nitish's palpable dislike for Modi, Hussain said: "The BJP has a galaxy of leaders and all of them are committed to one philosophy, one worldview. (And) when we deal with our allies, we are not dealing with individuals but negotiating on a common agenda."

Asked why the Modi advertisements had been so patronising, Hussain said: "Modi has no dearth of fans. People are ready to die for him. His fans put out these advertisements, what can he do? Our Bihar BJP workers regard him and Nitish as their icons because both of them are committed to development."

There were six prominent absentees from the national executive: Yashwant Sinha, Vasundhara Raje, Mukhtar Abbas Naqvi, Hema Malini, Kiron Kher and Vani Tripati.

http://www.telegraphindia.com/1100613/jsp/frontpage/story_12560296.jsp

Who was Bhopal's 'maut ka saudagar', Modi asks Sonia

PATNA: Using Sonia Gandhi's "maut ka saudagar" barb, Gujarat Chief Minister Narendra Modi Sunday attacked the Congress president over her "silence" on the Bhopal verdict, saying she should tell the people who the merchant of death was in this case.


Addressing a BJP rally at the conclusion of the party's national executive meeting here, Modi referred to Sonia Gandhi as "Madam Sonia" and wondered why she had not spoken on the Bhopal verdict.


"Why are you quiet on Bhopal, Madam Sonia. The country wants to know who was the maut ka saudagar (merchant of death) in Bhopal," Modi said.


"Speak up. Break your silence. The country wants to know what happened in Bhopal," Modi added.


The "maut ke saudagar" barb was used by Sonia Gandhi in reference to Modi during her campaign for the Gujarat assembly polls in 2007. It referred to the 2002 communal riots in Gujarat in which over 1,000 people, most of them Muslims, were killed.


The BJP has attacked the Congress over the release of former Union Carbide chief Warren Anderson, an accused in the Bhopal gas leak case, saying the party should seek forgiveness from people on the issue. The Congress was in power in Madhya Pradesh and at the centre when the gas tragedy took place in Bhopal in 1984, killing and maiming thousands.


On June 7, after over 25 years, seven people were convicted for the Bhopal gas tragedy, the world's worst industrial disaster, and sentenced to two years in prison. They were immediately granted bail.


Modi, who came under attack from Bihar Chief Minister and Janata Dal-United leader Nitish Kumar over an advertisement which referred to the relief work done by the Gujarat government in the state, said the BJP's politics and its mantra was development.


He also spoke of the development strides made by Gujarat and thanked the people of Bihar for "showering affection" on him.


Modi attacked the United Progressive Alliance (UPA) government at the centre for failing to contain Maoist violence.

I viewed Dantewada killings as tragic: Arundhati

New Delhi Author activist Arundhati Roy has said that she viewed the death of 76 CRPF personnel in Dantewada as "tragic", rejecting suggestions that she had saluted the "people of Dantewada" after these killings by Maoists.

Taking exception to a report from Mumbai based on her speech at a public meeting organised on June 2 by the Committee for Protection of Democratic Rights (CPDR), the writer said in a communication, "I have made it quite clear that I viewed the death of the CRPF men as tragic, and that I thought they were pawns in a war of the rich against the poor.

"What I said at the meeting in Mumbai was that I was contemptuous of the hollow condemnation industry the media has created and that as the war went on and the violence spiraled, it was becoming impossible to extract any kind of morality from the atrocities committed by both sides."

Roy said "I made it clear that I was not not there to defend the killing of ordinary people by anybody, neither the Maoists nor the government. My reaction to the killing of the CRPF men as well as to other recent incidents of violence by the Maoists are a matter of public record."

The earlier report had quoted Roy as having said that she would continue to back the Maoist armed struggle even if she was put behind bars and that "it ought to be an armed movement".

Denying that she had said anything like "it ought to be an armed movement", Roy said her exact words were "I think it is much more interesting to interrogate the resistance to which we belong.

"I am on this side of the line. I am very clear about that. I don't care, pick me up, put me in jail. I am on this side of the line. But on this side of the line, we must turnaround and ask our comrades questions."

Arjun took decision on Anderson: Arun Nehru

New Delhi Former Union Minister Arun Nehru, a close aide of Prime Minister Rajiv Gandhi, on Sunday claimed Arjun Singh as Madhya Pradesh Chief Minister had taken the decision to release then Union Carbide CEO Warren Anderson after the Bhopal tragedy and that Gandhi had no role in it.

"It is obvious that Chief Minister Arjun Singh took the decision (to release Anderson) and informed the Centre according to the press conference which the CM had addressed on December 7, 1984. He was the person in-charge and he took the decision," Nehru said.

He said the only authentic version of the episode could be got from the press interviews of Arjun Singh in 1984 and "to attribute any motive to Prime Minister Rajiv Gandhi is wrong as the decision was taken by the CM".

He said a fresh controversy is being created unnecessarily when the facts were known and Singh had spoken on the issue in 1984 itself.

Nehru was a General Secretary of the Congress in 1984 and was campaigning for the Lok Sabha elections when the Bhopal gas tragedy took place. He fell out with Gandhi later and has no association with Congress or any other party now.

Claiming that Arjun Singh had taken the decision keeping in view the circumstances that existed then, he said, "Trying to judge events in 2010 by the ground realities existing in 1984 can never be right.

"He took the decision based on the ground situation then and that decision was being questioned now after 25 years," he said.

The former minister said that providing relief and rehabilitation must have been the top priority of a Chief Minister when a tragedy of such a magnitude took place.

"The more appropriate question should be to ask why the courts took nearly 25 years and why the charges were watered down. We are waking up after 25 years...Are we supposed to wake up after 25 years if a tragedy strikes now?" he asked.

On the issue whether the matter cropped up in any meeting of the Union Cabinet then, Nehru said it was election time and there was no time for Cabinet meetings as the leaders were busy electioneering.

He also blamed the Congress for being "defensive" on the issue, saying that this should not have been the case as the facts of the matter are known and Arjun Singh himself spoke on the issue way back in 1984.


Tsunami alert after 7.7 magnitude quake hits Indian Ocean

Chennai/Hongkong Moderate tremors were felt in several parts of the city and its suburbs today for a few seconds, according to met office here.

However, no casualty or damage to property were reported, police said.

People in panic rushed out of their houses at Gopalapuram, Kodambakkam, Porur, Thiruvanmiyur, Anna Nagar and several other places under the impact of the tremor which lasted for a few seconds, they said.

Met officials said the tremors felt here was due to the impact of an earthquake that occurred at 7.9 degree north and 91.9 degree east-west coast of Andaman and Nicobar Islands measuring of 7.8 in Richter scale at 12.56 am.

Meanwhile, The Pacific Tsunami Warning Centre issued a tsunami watch for all areas of the Indian Ocean following the quake.

The warning said earthquakes of this size had the potential to cause destructive local and sometimes regional tsunamis, but added it was not yet known that a tsunami had been generated.


Mkts likey to remain positive: Analysts

Dalal Street is likely to carry forward the upward movement this week as risk appetite is returning to the markets on the back of a strong domestic economic scenario and strengthening global cues.

"In the past few sessions, the market has shown good performance and it seems the confidence level among investors is returning as sentiment across the globe is positive for now. The domestic market is likely to start with a positive bias this week," SMC Capital's equity head J Thunuguntla said.

During the last three trading sessions, the 30-share BSE benchmark Sensex rallied 448 points, or 2.6 per cent, thus trimming the losses for the past week to just 0.3 per cent.

"After being beaten heavily on European debt worries, the market is now cheering positive news coming in from all fronts and on Monday, the Dalal Street is likely to trade in the green," Bonanza Portfolio AVP for equity research Avinash Gupta said.

The market sentiment is positive due to many factors. The country's industrial output for May expanded much faster than expected at a full 17.6 per cent, the second best ever.

On the global front, the European Central Bank and the Bank of England left their benchmark rates unchanged again to support the fledgling economic recovery, China's exports jumped to a 48 per cent in May and Japan's gross domestic product rose at an annualised 5 per cent in the first quarter.

"But,investors are cautious and it is unlikely that they will miss any chance to book profit at higher level, which may bring more volatility into the street," Thunuguntla added.

FIIs, which offloaded shares worth USD 2 billion in May, were net buyers last week and so far in June they have made a net investment of Rs 1,576 crore in the market.

Investors will eye the first installment of the corporate advance tax payment (which falls due on June 15) which will give some clue about the June quarter corporate results. They will also consider the May inflation data due on Monday.

However, global risk appetite holds key for the domestic equities in near term. "At the current levels, though the market valuations do not look very expensive, with lack of fresh triggers except IIP, the upside seems to be limited," Indiabulls Securities said in a note.

Analysts also said movement in the market heavyweight RIL that acquired Infotel on Friday, will be key. Also, SpiceJet would be another scrip, which investors will be watching on Monday. On Saturday, media baron Kalanidhi Maran of Sun Network, announced acquisition of 37.75 percent stake in the low-cost airline. He will make an open offer for 20 per cent additional stake on Monday. "But if the open offer is made at Friday's rate, stock is unlikely to move up," said a broker.

On the oil sector, Unicon Financial said, "reports suggest that the EGoM on oil will meet on June 17 and that could bring interest into oil companies again."

Over the past week, major global markets edged higher on short covering and some easing concerns over the European markets. Dow and Nasdaq gained over 2 per cent, while European markets gained marginally during the week.


Bhopal gas tragedy: Ex-CJI now in row

New Delhi/Bangalore Amid continuing blame-game over the Bhopal gas tragedy, the then Chief Justice of India A M Ahmadi was at the centre of the controversy with Law Minister Veerappa Moily saying the Supreme Court verdict had reduced the incident to a "car accident".

Ahmadi, who is blamed for diluting the charges in the case, reacted by saying that the government could not escape the responsibility when such an incident happens.

The spat between Moily and Ahmadi came even as the then Madhya Pradesh Chief Minister Arjun Singh continued to be targeted by Congress leaders over Warren Anderson's escape.

Senior Congress leader Satyavrat Chaturvedi said Arjun Singh had earlier admitted that the decision to allow Anderson to leave the country was taken at state level and said he should speak out so that the "names of others are not unnecessarily dragged into the issue."

Singh remained incommunicado and did not even turn up at a function organised by a media group to honour him with 'Lifetime Achievement Award' for his "contribution to Urdu language".

Moily regretted in Bangalore that judiciary had diluted the the charges in the gas leakage case.

"CBI had filed charges under (IPC) Section 304 (II) under which the maximum punishment is 10 years. But the highest court (headed by Ahmadi), in a review petition, converted it to 304 (A) which is actually meant for a car accident, truck accident," the Law Minister told reporters in Bangalore.

Section 304 (II) of the IPC is culpable homicide not amounting to murder while 304(A) is causing death due to negligence.



Union Carbide paid Rs 3 cr to Arjun Singh, claims Togadia

Jabalpur Dubbing as "traitors" those behind the release of then Union Carbide chief Warren Anderson after the Bhopal gas disaster in 1984, the VHP today demanded a case of treason be registered against those involved.

"The persons responsible for the release of Anderson are traitors and cases of treason should be registered against them," VHP international General secretary Pravin Togadia told reporters.

"Nearly 17 commissions were constituted after the Malegaon and Ajmer blasts, but for a tragedy that killed thousands of persons, no commission was constituted till date for ensuring imprisonment to those behind it," he said.

He charged that the then government had treated Anderson like the Prime Minister as he was also taken up to the tarmac in a red-beacon official car like a head of state.

Togadia said this could not have taken place without the prior knowledge of the state and the Centre and therefore, they cannot escape from it (responsibility).

The right-wing leader further alleged that Rs three crore was paid by Union Carbide to senior Congress leader Arjun Singh, who was chief minister of Madhya Pradesh then, adding that the then Superintendent of Police (SP) must have driven Anderson to the airport under pressure from his higher ups.

He demanded that the government apologise to the people for its actions.



No compromise on self-respect, BJP tells JD-UPATNA: In the midst of a standoff involving Chief Ministers Nitish Kumar and Narendra Modi, the BJP today sent a clear message to ally JD(U) that it was acting with "maturity" by taking "all along" but would not compromise on self-respect.


"We are a mature party which has a mature leadership with resilience.... We are showing maturity. For us, our self-respect is most important. We are not going to compromise on our self-respect," party spokesperson Rajiv Pratap Rudy said.


He was replying to questions on the strains in BJP-JD(U) ties after Kumar yesterday cancelled a dinner for the BJP top brass attending the party's national executive, apparently upset over his photograph being shown alongside that of Gujarat Chief Minister Narendra Modi in a newspaper advertisement.


Kumar had also criticised the Gujarat Government's claim that it had liberally donated aid to Bihar during the 2008 Kosi floods in another newspaper advertisement, calling it "uncivilised".


Defending Modi on the advertisement issue, Rudy said, "He is a leader and a successful chief minister and the way he is running the state is being hailed by his supporters and some overzealous among them have made efforts to widen his appeal by showing what is the truth."


Modi, however, has maintained silence over the controversy. The Gujarat Government today again brought out full page advertisements focusing on the development in the state.


Rudy said the BJP was a mature political party whose leadership has resilience and it "respects every leader, partnership and alliance" and it is the "job of a mature political party to take all along".


He insisted that the party leaders attending the national executive meet were "fortunate that we are being hosted with the best possible arrangement," a statement meant to praise the state government headed by Kumar, leading the JD(U)-BJP coalition in Bihar.


He said he was not aware whether the Bihar Chief Minister was angry and that a section of the state BJP wants to give a "fitting response" to the chief minister.


The BJP spokesman also downplayed the the issue of advertisements brought out by Gujarat Government in prominent newspapers today, highlighting the achievements of the Modi administration.


"State governments and the Central government come out with such advertisements regularly," he said.


With Kumar ordering an inquiry into the controversial advertisement showing him with Modi, the row deepened today as the state police carried out searches at the office of the ad agency Expression Advertising.

Nitish Kumar snubs BJP leaders for ad, cancels dinner!

In a clear snub to its coalition partner, an angry Bihar Chief Minister Nitish Kumar cancelled a dinner for the top brass of the BJP in disapproval of an advertisement featuring him with Gujarat Chief Minister Narendra Modi and another on Gujarat's aid during the floods two years ago.

There was bad blood between the two sides, which run a coalition government for the last nearly five years, after Kumar attacked those who released an advertisement featuring him with Modi, about whom he was always uncomfortable as a political ally.

The JD(U) leader, who has an eye on Muslim votes, has fashioned himself as a secular leader and in the past had avoided sharing any dias with Modi in Bihar.


BJP-ruled states getting step-motherly treatment: Modi

Patna Gujarat Chief Minister Narendra Modi, in the eye of the storm over a photograph featuring him with his Bihar counterpart Nitish Kumar, accused the Union government of meting out step-motherly treatment to the BJP-ruled states.

In a resolution on Federal structure moved by him at the BJP National Executive Committee meeting, Modi charged the UPA government with flouting recommendations of the Sarkaria Commission on Centre-State relations.

He alleged the government was not consulting BJP-ruled states on appointment of Governors and Chief Justices of High Courts.

"Even several bills adopted by the Gujarat assembly with two-thirds majority have been put into cold storage by the Governor or the Centre for the past six years," Modi said.

"It is a deliberate attempt to weaken the federal fabric of the country," he said.

The party National Executive, which adopted the resolution, authorised Modi to prepare a report on the issue in consultations with Chief Ministers of BJP-run states for an appropriate action, party spokesman Rajiv Pratap Rudy told a press conference.

Modi, during the course of a debate on the resolution, accused the Centre of adopting a discriminatory approach with regard to states ruled by the saffron party.

He pointed out the erstwhile Atal Bihari Vajpayee government had always preferred consultations and followed the Sarkaria Commission's recommendations before appointing Governors and Chief Justices of the states.

BJP stalwart L K Advani, in his brief intervention, said the erstwhile NDA government had always taken the Chief Ministers into confidence before appointing Governors.

The NDA regime had always maintained harmonious relations with the states, he said.



Pak wants India, US to share details of Headley's interrogation to unearth 26/11 'myth'

Islamabad, Jun.12 (ANI): Pakistan wants both India and the US to share details of the interrogation of David Coleman Headley, the alleged Lashkar-e-Taiba (LeT) operative who is currently in America's detention, so that the 'myth' surrounding the 26/11 Mumbai terror attacks is unearthed.

"Although India and the US are not bound to share findings of investigation, however, they need to share them with Pakistan in order to unearth the myth of Mumbai attack," The Nation quoted a top Pakistani official, as saying on conditions of anonymity.

However, there has been no official statement from Pakistan regarding sharing of details of Headley's interrogation.

A four-member National Investigation Agency (NIA) team quizzed Headley for over a week recently, drawing information about his role in the ghastly Mumbai attacks.

According to a statement issued by the US Justice Department, Headley and his counsel answered all queries of Indian investigators in a series of interviews starting June 3.

The statement further added that both New Delhi and Washington have agreed not to disclose any detail of Headley's interrogation inorder to protect the secrecy of the probe surrounding the November 2008 terror attack.

Headley was arrested by the US Federal Bureau of Investigation (FBI) in October 2009 for plotting an attack on a Danish newspaper.

During his interrogation, he also confessed to his role in the Mumbai attacks in which Pakistani terrorists killed 166 people and injured over 200 others.

Headley,49, told US interrogators that he had conducted a reconnaissance of the Mumbai sites before the attacks, having visited the country several times.

Headley has pleaded guilty on all 12 criminal counts against him, including his role in the 26/11 attacks conspiracy. (ANI)



Dow Chemicals pushed, ordered Indian govt

Posted on Jun 12, 2010 at 08:59 | Updated Jun 12, 2010 at 09:14

New Delhi: Dow Chemicals, the company that acquired Union Carbide Corp, which is blamed for the Bhopal gas tragedy in 1984, pressed the government to meet its business demands and almost seems to be ordering it.

The weekly Outlook magazine says that Dow Chemicals company had been actively lobbying with the government two years ago. The magazine's revelation comes just two days after CNN-IBN reported how Congress spokesperson Abhishek Manu Singhvi provided legal opinion toDow Chemicals based on a reference from the Prime Minister's Office.

Documents accessed by the magazine reveal that the company almost went to the extent of ordering and lecturing the Indian government.




Dow Chemicals CEO Andrew Liveris' letter to P Chidambaram, who was Finance Minister then, almost seem to be pushing him for the company's growth in India.

"It is critical [that] the government of India speaks in one voice on issues of foreign direct investment and sustained domestic economic growth. We value your direct assistance in ensuring that all ministries operate on the basis of messages we have received from the Prime Minister himself," says Liveris' letter, dated October 2008.

What is even more shocking is that in the letter Liveris even sets targets for the government.

"We remain committed to exploring further investment in India but need your support and actions to resolve these issues. We look for tangible evidence of government action in the next 30 days," Liveris writes in the letter, copies of which are available with Outlook and CNN-IBN.

Liveris met with Prime Minister Manmohan Singh during his 2008 US tour.

In the past, Dow Chemicals suffered setbacks in its businesses in India. Its contract with Indian Oil got cancelled after it was revealed that the technology involved was developed byUnion Carbide. The company also faces CBI investigation into a bribery case involving Dow subsidiary De-Nocial.

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Corruption robs developing nations of $40 billion annually: World Bank
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Corrupt practices are robing the developing nations as much as USD 40 billion annually, even a fraction of which can fund treatment of over 6 lakh AIDS people, according to the World Bank.

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Dow to NDTV on no Bhopal liability
Gargi Rawat, Updated: June 13, 2010 15:01 IST, New Delhi

As the blame game continues over the Bhopal gas tragedy verdict, the main question that arises is: Who is responsible for cleaning up the Bhopal gas disaster site? (Read: Who will clean up Bhopal mess?)

Activists campaigning for the victims say the next stage is to make Dow Chemicals pay for cleaning up the toxic site. In 1999, Union Carbide Corp was bought by US-based Dow Chemicals.

In 2004, the Jabalpur High Court began hearing the case of who should pay for the sanitization of the defunct Carbide plant.

In 2005 the Minister for Chemicals and Fertilizers, Ram Vilas Paswan, asked Dow to deposit 100 crores for the clean-up. (Read: Govt did its job, judiciary took time, says Moily) The court has still not decided the issue. Dow has repeatedly challenged the view that it has any links, through its purchase of UCC, to the Bhopal tragedy.

Dow also claims that any liability for Bhopal was settled by UCC in the 470 million dollar settlement accepted by the Indian government in 1989.

Now, Dow goes into considerable detail to explain why it believes it's not liable for Bhopal. Several of the factors it lists are being challenged in court.

In a letter to NDTV, Dow spokesman Scot Wheeler says:

"I could not disagree more with any of the points made by activists that you have shared with me.

There are some who continue to try to affix responsibility for the Bhopal tragedy to Dow, but the fact is that Dow never owned or operated the facility in Bhopal and these efforts are misdirected.

We do have sympathy for the plight of those who are victims of the tragedy and its aftermath and one area where we would all agree on is that their issues do need to be addressed. The solution to this problem, however, rests in the hands of the Indian Central and state governments. (Read: Bhopal disaster: Could it have been averted?)

According to media reports, the government of Madhya Pradesh, which today controls the site, is working to get the site cleaned up and Dow is hopeful that they will be allowed to follow through with their plans.

In 1991, the Indian Supreme Court upheld and affirmed that settlement as complete and final. Union Carbide has no further legal responsibility for the matter.

The Dow Chemical Company has never owned or operated the facility in Bhopal nor does Dow have responsibility for any liability related to Bhopal. Remediation of the Bhopal plant site is under the oversight of the High Court of Madhya Pradesh in Jabalpur. We respect the court and the efforts that it is making to direct the remediation plan for the plant site, which is being funded by the state and central governments.

The Dow Chemical Company entered the picture well after the settlement between the Government of India and Union Carbide and Union Carbide India Limited and well after Union Carbide sold all Indian assets and was no longer doing business in India.

When Dow acquired the shares of Union Carbide Corporation in 2001, it was with the understanding that Union Carbide had settled its civil liability with the Government of India and that the Government and Indian Courts honour their decisions and their commitments.

Additionally, UCIL - the company that controlled the site when the tragic events took place - exists today in the form of Eveready Industries India Limited.

Eveready was, in fact, working on some remediation of the site when the state government of Madhya Pradesh revoked their lease in 1998 and took control of the site. Per your comment on Polluter Pays, any efforts by activists to apply the "polluter pays" principle to Dow are, again, misdirected. If the court responsible for directing clean-up efforts ultimately applies the "polluter pays" principle, it would seem that legal responsibility would fall to Union Carbide India Limited, which leased the land, operated the site and was a separate, publicly traded Indian company when the Bhopal tragedy occurred. In 1994, Union Carbide sold its interest in Union Carbide India Limited with the approval of the Indian Supreme Court. The company was renamed Eveready Industries India Limited and remains a viable company today.

The Dow Chemical Company has never had any presence in Bhopal nor does the company have responsibility for any liability relating to Bhopal.

Again, the Dow Chemical Company has never had any presence in Bhopal nor does the company have responsibility for any liability relating to Bhopal. Dow's responsibility, along with that of the rest of the industry, is to make sure something like this never happens again and to continue to drive industry performance improvements."

Also See:

It was Arjun Singh's decision to send Anderson out of Bhopal: Pranab
Bhopal tragedy: Injustice continues in hospitals



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http://www.ndtv.com/news/india/dow-to-ndtv-on-no-bhopal-liability-31362.php

'Government was never interested in justice for Bhopal victims'


As oil washes ashore, Bhopal's lesson is clear

 

Twenty-five years ago, the world watched in horror as the death toll mounted and mounted in the aftermath of the release of toxic gas from a Union Carbide chemical plant at Bhopal, in north-central India.

 
 
 

Death-toll numbers in the disaster will never be better than approximate, but about 3,000 people are believed to have died at once, and another 15,000 since. Others were sickened with permanent consequences. The victim total is believed to be around 25,000 in what is still the world's worst industrial accident.

Back then, the legal issues looked pretty straightforward: How could such careless handling of dangerous chemicals not involve criminal liability? What level of compensation would be reasonable for those affected?

Incredibly, it has taken until this month for the wheels of the Indian justice system to grind to a verdict -and it is not one anybody could call fine.

Eight Indian nationals, former plant managers, were found guilty of causing death by negligence, one posthumously. The district court in Bhopal sentenced the remaining seven to two years in jail, but all are out on bail, pending an appeal. The 4.5-hectare site, deeded to India by the now-defunct Union Carbide, remains strewn with contaminated debris; winds still occasionally send poisonous gases out over nearby neighbourhoods.

Five years after the accident, U.S.-based Union Carbide paid India $450 million in "full and final compensation." Victims received about $550 each. Warren Anderson, the U.S. head of Union Carbide, refused to return to India to face charges; the U.S. has ignored extradition requests.

The lessons from this debacle are painfully obvious, starting with the inexcusable slowness of India's judicial system. According to the Economist, India's courts have a backlog of more than 20 million cases, which by one judge's estimate would take 320 years to clear.

The Bhopal case was unusually slow because of India's insistence on dealing with compensation first. The criminal case did not start until a full three years after the accident, on charges of "culpable homicide not amounting to murder."

Allegedly under political pressure from the Indian government, in 1996 India's Supreme Court reduced the charges and a new trial started.

Indian commentators gave full vent to their outrage last week, accusing their government of putting the interests of foreign investors ahead of the safety and well-being of Indians, especially poor ones. "It's terrible," Rachna Dhingra, of the Bhopal Group for Information and Action, told the Irish Independent. "This is what comes after 25,000 deaths. This is an open invitation to multinational corporations to come and pollute and then leave without (responsibility)."

This is, of course, what people living on the shores of the Gulf of Mexico fear today, as BP and its subcontractors try to push responsibility for the oil spill onto one another's shoulders, as well as onto U.S. regulatory agencies. As the Gulf braces itself for a long cleanup, it should remember the lessons from Bhopal.

http://www.montrealgazette.com/news/washes+ashore+Bhopal+lesson+clear/3148425/story.html

An Indian Tragedy Many Times Over

Government meddling has deprived victims of the deadly Bhopal gas leak of fair compensation.

On Tuesday, a district court in Bhopal, India, found seven former Union Carbide India Ltd. (UCIL) officials guilty of "causing death by negligence" for a gas leak at a pesticide factory in that city over 25 years ago. The officials were sentenced to two years in prison and fined 100,000 rupees ($2,130) each for failing to prevent the tragedy. The victims of the gas leak, activists in Bhopal and the Indian media in general, have rightfully labeled the court's verdict as too little too late. Often referred to as the Bhopal Gas Tragedy, the incident should instead be dubbed the Bhopal Gas Tragedies; the first caused by UCIL and the second by the Indian government.

The Bhopal disaster was the worst industrial accident ever to hit India. Just after midnight on December 3, 1984, tens of thousands of pounds of methyl isocyanate, a highly toxic gas used in chemical manufacturing, were released into the air over the area. Estimates of the death toll vary widely—from just under 4,000 to around 15,000—but it's undisputed that thousands of people died in the hours after they inhaled the gas, and thousands more from health problems they developed later as a result of their exposure.

The leak was the direct result of negligence of the UCIL workers and inspection officials and bureaucrats. They neither followed established safety measures to prevent the gas leak, nor warned the thousands of people living near the factory of how to protect themselves in such an event. Simply covering one's face with a wet cloth in the event of the gas leak could have saved thousands of lives, had people been educated to do that.

By not imposing adequate regulatory oversight on the factory before the disaster, government officials missed ample opportunities to create incentives for safety. The criminal courts have now compounded this problem with their light sentences of the executives last week, so long after the event. But perhaps the far greater tragedy lies in the chance the Indian government spurned to compensate victims while sanctioning the company via civil tort suits.

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RAJAGOPALAN
Associated Press

An elderly woman waits for the verdict in the premises of Bhopal court in Bhopal, India, on June 7.

RAJAGOPALAN
RAJAGOPALAN

Opportunistic trial lawyers have a bad reputation in places like America, often deservedly so, but they serve an important role in helping victims secure compensation. In the aftermath of the gas leak, the citizens of Bhopal experienced what jurist Marc Galanter called "the great ambulance chase" as a number of American tort lawyers descended on the area. They spotted an opportunity for a big pay-out from a big corporation, and the big fees to match (American tort lawyers typically claim one-third of any judgment in their clients' favor as a contingency fee).

But Indian lawmakers worried about those high fees and feared the tragedy would become an exploitative and lucrative exercise for foreign legal firms. To "protect" the victims, the Indian Parliament passed the Bhopal Gas Tragedy Act in March 1985. The law handed the Indian government the exclusive right to represent all the claimants.

Almost immediately the government ran into trouble acting on behalf of the victims. It lost its first battle in a New York courtroom when a federal district court judge ruled New York was not an appropriate venue for the case even though the defendant in the suit was based in the United States. The Indian government had argued that its own courts weren't sophisticated enough to handle such a complex case. But UCIL pointed directly at the Bhopal Gas Tragedy Act to argue the Indian government could more easily settle the matter at home.

Once the proceeding had moved back to Bhopal in 1986, it almost immediately bogged down in Indian bureaucracy. The first problem was establishing a headcount of the victims. Bureaucrats eventually settled on an estimate of approximately 3,000 fatalities, 30,000 permanent injuries and 20,000 partial injuries. Partly through incompetence and partly because bureaucrats simply didn't have the right incentives to do the hard work of reaching an accurate number, these estimates were grossly undercounted.

Yet by the time questions about the numbers came to light, the government had already reached a settlement with UCIL and its parent company based on the initial low casualty estimates. In February 1989, the government accepted $470 million in return for absolving UCIL and its parent of all past, present and future liability arising from the leak. A consequence of the undercount was that by the time the true number of victims emerged, they were stuck accepting smaller individual portions of the settlement pie the government had already negotiated on their behalf. Worse, the government relieved UCIL of any further liability before any additional health or environmental consequences could come to light.

Victims are left suspecting that private-sector tort lawyers would have done better on their behalf, even after lawyers' fees were factored in. Certainly the lawyers would have had much stronger incentives to ascertain an accurate victim count before accepting a settlement. They probably also would not have been able to unilaterally absolve UCIL of any future liabilities. New Delhi's paternalism, far from protecting the interests of Bhopal victims from sharks, cut those victims off from one of the most promising avenues for seeking compensation in a free-market system.

In this context, the weak criminal sentences against a few employees at the plant are simply the latest in a long string of failures. The people of Bhopal were first betrayed by the employees of UCIL and regulators who allowed this disaster to happen. Then they were victimized by their own government, which has failed to deliver either criminal or civil justice.

Ms. Rajagopalan is a doctoral student in economics at George Mason University.


http://online.wsj.com/article/SB10001424052748703433704575303700163319676.html?mod=WSJ_latestheadlines

Bhopal's Industrial Catastrophe Caused Due To Emergency

By Gopal Krishna

13 June, 2010
Countercurrents.org

No Inquiry on US Corporation's Research and Development (R&D) Centre so far

New Delhi-The affidavit from Central Bureau of Investigation's most recent affidavit in the Court of Chief Judicial Magistrate, Bhopal provides information that implies that had Emergency been not imposed Bhopal's catastrophe caused by the US Corporation's acts of omission and commission would not have happened. (Relevant pages of the affidavit attached). There is a compelling logic for an independent probe in the entire issue ranging from granting of industrial license, escape of Warren Anderson, role of Indo-US CEO Forum to lobbying by industrialists and ministers to absolve Dow Chemicals of liability.

It emerges that industrial license to US Corporation's chemicals plant was granted during the period when Indira Gandhi as Prime Minister had invoked Article 352 to declare Emergency in the country from 25th June 1975 to 21st March 1977 during 21-month regime. The 7th June, 2010 verdict of the Bhopal court (attached) states that Union Carbide Corporation too refers to the application for industrial license on page no.4. According to the CBI's recent affidavit, on 1st January 1970, Union Carbide Company had "applied for industrial license for manufacture of 5000 tones MIC- based pesticides" required under The Registration and Licensing of Industrial Undertakings Rules, 1952. An application for the registration of an existing industrial undertaking is made to the Ministry of Industry (formerly to Ministry of Industrial Development), Government of India.

The application was signed by E. A. Munoz, a General Manager in the company. The company did not get industrial license for more than 5 years. There must have been sufficient reason to withhold permission for industrial license. After the imposition of Emergency, the company was granted the license on till 31st October, 1975 exactly nine years prior to her assassination in 1984. The verdict notes that the issuance of industrial license to Union Carbide Company for manufacture of MIC- based pesticides on 31st October, 1984.

R K Sahi, the then Deputy Director in the Ministry of Industrial Development (former Deputy Advisor, Planning Commission) has informed that the entire department was against grating of the industrial license. The officials in the Ministry knew that obsolete and discarded technology and machinery was being transferred to India for which the license was granted by bypassing the due process. There was political interference in the granting of the industrial license.

The manufacture of Methy Isocynate (MIC) commenced with effect from 5th February, 1980, information regarding which was sent to the Department of Chemicals and Fertilizers vide letter dated 19th February, 1980. The company informed the Ministry of Industrial Development on 12th November, 1982 about the commencement of production in 1980, while requesting for renewal of agreement that was to terminate in 1982.

The verdict by Mohan P Tiwari, Chief Judicial Magistrate, Bhopal, Madhya Pradesh notes "Union Carbide Corporation , 39,Old Ridgebury Road Danbury
Connecticut ,USA 06817" and Union Carbide Corporation, (Eastern) Inc. 16th Floor New World Office Building (East Wing) 24, Sabury Tsimsa Tsu Kowloon Hongkong,
as absconders. On page 25 of the verdict, it states, "(z) It is worthwhile to mention here that the Government of India and the Team of Scientists admittedly was never permitted to visit the Plant at Verginia, USA. No brochure, or any other documentary evidence demonstrating the similarity between the two plants at Verginia and Bhopal has been produced before the court by the defence."

On page 95 of the verdict, it is stated, "Mr. Warren Anderson, UCC USA and UCC Kowlnn Hongkong are still absconding and therefore, every part of this case (Criminal File) is kept intact alognwith the exhibited and unexhibited documents and the property related to this case, in safe custody, till their appearance." In the verdict, it is stated that "Dr. S. Varadarajan PW57, was the Head of the team of experts who visited the Plant Site very next day of the incident. He is an expert having excellent qualification. M.Sc. PhD. From Delhi & Cambridge several Honorary D.Scs also former President all three major Indian Academy of Science Bangalore, Indian National Academy Delhi started by Shri M.N. Shah and Indian National Academy of Engineering and a number of other Societies. (q)Dr. S. Vardharajan PW57, in para 2 of his statement states that there were several defects, such as MIC is a liquid but it evaporates with air and is highly toxic on inhilation as it is made of carbon monoxide. Carbon monoxide converted into Phosegen, is required to be utilized immediately and not to be stored. Storage of MIC should have been highly limited only to meet the requirements for conversion into Sevin as little as possible. (r) In Para 5 he further says that the design required inhibitor to prevent voluntary polymerization of MIC. Polymerization produces very high temperature and that accelerates polymerization in an explosive manner. There are design defects, such as use of Carbon, Steel and other material and pipes and other materials. These are leading to corrosion in the presence of even quantities of Hydrogen Chloride, Hydrochloric Acid (HCL) arising from Phosegen, Chloroform and other Chloride materials." Although the design fault by the US corporation is established, the criminal liability of the Union Carbide's case is yet to be settled.

It is noteworthy that Justice S Muralidhar, Delhi High Court in his seminal paper titled "Unsettling Truths, Untold Tales: The Bhopal Gas Disaster Victim's 'Twenty Years' of Courtroom Struggles for Justice" concluded that the cases concerning Bhopal gas disaster should not conclude till justice has been done to every victim. Each strand of litigation is pending at various stages and the questions that have arisen remain unsatisfactorily answered." He had aptly underlined in May 2004, "The extent of concealment and subterfuge practised by UCC and UCIL in screening away from scrutiny the extent of risk to which the MIC plant at Bhopal was subjecting the local population. The enormous lies of the UCC and UCIL now stand exposed. It is indeed disturbing that despite the Union of India and the State of Madhya Pradesh knowing fully well the extent of contamination of the plant site, neither of those entities did anything at all to enforce the liabilities of the UCC and UCIL and claim damages under this head. The settlement which the Supreme Court approved on February 14/ 15, 1989 stands severely flawed with every passing day. There now appears no possible justification for the order made on those two fateful dates. Every assumption on which the orders were based was wrong both on facts and on law. Notwithstanding the defiant posture of the Supreme Court in its review petition that its powers under Article 142 justified its approval of the settlement, which foreclosed all present and future civil and criminal claims, the court itself has had to reject the judgment in the review proceedings as an applicable precedent for future cases. The wrong remains an irremediable wrong. It bears repetition that the assumptions on which the settlement is approved was that the number of deaths was 3,000 and the number injured in the range of 1,00,000. In March 2003, the official figures of the awarded death claims stood at 15,180 and awarded injury claims at 5,53,015. The underestimation was slightly above 5 times. The range of compensation which was assumed in the settlement order would be payable was Rs.1 to 3 lakhs for a death claim, Rs.25,000/- to Rs.1 lakh for temporary disablement and Rs.50,000/- to Rs.2 lakhs for permanent disablement. Each death claim has been awarded not more than Rs.1 lakh and on an average an injury claim has been settled for as little as Rs.25,000/-. The failure of the judiciary to account for the views of the Bhopal Gas victim has been pervasive."

While the fact of Supreme Court itself being on trial following such a litigation disaster is established, what is yet to be established is legislative competence to ensure universal jurisprudence for corporations. If Dow Chemicals escapes liability, if Anderson remains an absconder and goes unpunished, it sets a dangerous precedent for democracies all over the world.

In Volume 5, Hazard Assessment of Chemicals, published by Hemisphere Publishing Corporation, Washington, page no. 236, it refers to suspicion that in addition to the chemical pesticide plant, the Research and Development (R&D) Centre that Union Carbide which operated in Bhopal since 1976 was experimenting with wartime use of chemicals. It remains shrouded in mystery although it was reputed to be among the best in the world with the R&D Centre having 3 green houses, 5 insect rearing laboratories and an experimental farm of 2 hectares. The processing of new chemicals at the R&D Centre had increased from 50 in 1980 to 500 in 1982 and the Centre was projected to test 5000 chemicals in 1985 because many chemicals could not be tested in USA because of stricter environmental regulations. This R&D centre too came up during Emergency. This industrial disaster has aptly been called the Nagasaki and Hiroshima of peace time but the suspicion regarding it being a consequence of experimenting with time chemicals is yet to be probed.

By the end of First World War, Union Carbide Corporation (which has merged with Dow Chemicals in 2001) had moved from metal and carbon to gases and chemicals and expanded to atomic energy production during Second World War. Its operations in India began in 1905 in Calcutta. It had dry cell manufacturing plant in Chennai in 1942 and in Hyderabad in 1967. In 1968, the agricultural office of the company had moved from Mumbai to Bhopal. At the time of Bhopal disaster it was the 7th largest company in the world headquartered at Danbury, Connecticut, USA with 700 operations in 38 countries.

For Details: Gopal Krishna, ToxicsWatch Alliance, Mb: 9818089660, E-mail: krishna2777@gmail.com, Blog: toxicsatch.blogspot.com, Web: www.toxicswatch.com

 

http://www.countercurrents.org/krishna130610.htm

Dow Chemical Company

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The Dow Chemical Co.
TypePublic
NYSEDOW
TYO: 4850
IndustryManufacturing
Founded1897 (1897)
Headquarters Midland, Michigan, USA
Area servedWorldwide
Key peopleAndrew N. Liveris
(Chairman, CEO & President)
ProductsChemicals
Plastics
Agricultural Products
Specialized Products
Services
Revenue $44.875 billion (2009)[1]
Operating income $2.001 billion (2009)[1]
Profit $648 million (2009)[1]
Total assets $65.937 billion (2009)[1]
Total equity $20.555 billion (2009)[1]
Employees52,195 (2009)[1]
WebsiteDOW.com

The Dow Chemical Company (NYSEDOW, TYO: 4850) is an American multinational corporation, headquartered in Midland, Michigan. As of 2007, it is the second largest chemical manufacturer in the world by revenue (after BASF)[2] and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont).

Dow Chemical is a provider of plastics, chemicals, and agricultural products with presence in more than 175 countries and employing 46,000 people worldwide. It spends more than $1 billion annual expenditure in R&D. Its stated mission under the current CEO, Andrew N. Liveris, is: "To passionately innovate what is essential to human progress by providing sustainable solutions to our customers" with the vision: "To be the most profitable and respected science-driven chemical company in the world".[3]

The company was founded in 1897 by Canadian-born chemist Herbert Henry Dow, who had invented a new method of extracting the bromine that was trapped underground in brine at Midland, Michigan.[4] While at first the company sold only bleach and potassium bromide, Dow today has seven major operating segments, with a wide variety of products offered by each.[5] The company's 2005 sales totaled $46.3 billion, with a net income of $4.5 billion. Traded on the New York Stock Exchange, as of 2005 Dow has about 105,000 shareholders of record.[6]

Dow has been called the "Chemical companies' Chemical company"[7] in that most of their product is sold to other manufacturers rather than to end users. At varying points in time Dow has sold directly to customers, primarily in the Human and Animal Health markets as well as Consumer Products.

Dow Chemical is a member of the American Chemistry Council.

Contents

[hide]

Products

Dow is the world's largest producer of plastics, including polystyrene, polyurethanes, polyethylene, polypropylene, and synthetic rubbers [citation needed]. It is also a major producer of the chemicals ethylene oxide, and various acrylates, surfactants, and cellulose resins. It produces many agricultural chemicals, perhaps being most famous for its pesticide Lorsban.[5] Well-known consumer products include Styrofoam brand insulation. Former Dow product lines, Saran wrap, Ziploc bags and Scrubbing Bubbles have been sold to S. C. Johnson & Son.

Performance plastics

Performance plastics make up 25% of Dow's sales,[8] with many products designed for the automotive and construction industries. The plastics include polyolefins such as polyethylene and polypropylene, as well as the polystyrene most often seen in Styrofoam insulating material. A complete range of epoxy resin intermediates and products are manufactured by Dow, including bisphenol A and epichlorohydrin. Polyurethane, polyether polyols and specialty acrylates are all derived from ethylene oxide (EO). The Saran range of resins and films is based on polyvinylidene chloride (PVDC)

Performance chemicals

The Performance Chemicals (17% of sales) segment produces materials for water purification, pharmaceuticals, paper coatings, paints and advanced electronics. Major product lines include nitroparaffins such as nitromethane, used in the pharmaceutical industry and manufactured by ANGUS Chemical Company,[9] a wholly owned subsidiary of The Dow Chemical Company. Important polymers include Dowlex ion exchange resins, acrylic and polystyrene latex, as well as Carbowax polyethylene glycols. Specialty chemicals are used as starting materials for production of agrochemicals and pharmaceuticals.

Water Purification

Dow Chemical's water solutions business unit manufactures Filmtec reverse osmosis membranes which are used widely for purification of water for human use in the Middle East, in countries including: United Arab Emirates, Jordan and Saudi Arabia. The technology was also used during the 2000 Summer Olympics and the 2008 Summer Olympics.[10]

Agricultural sciences

Agricultural Sciences (Dow AgroSciences) provides 7% of sales, and are responsible for a range of insecticides (such as Lorsban), herbicides and fungicides. Genetically modified plant seeds are also an important, growing area. Dow AgroSciences sells seeds commercially under the following brands: Mycogen (grain corn, silage corn, sunflowers, alfalfa, and sorghum), Atlas (soybean) and PhytoGen (cotton).

Basic plastics

Basic plastics (26% of sales) end up in everything from diaper liners to beverage bottles and oil tanks. Products are based on the three major polyolefins – polystyrene (such as Styron resins), polyethylene and polypropylene.

Basic chemicals

Basic chemicals (12% of sales) are used internally by Dow as raw materials, and are also sold worldwide. Markets include dry cleaning, paints and coatings, snow and ice control and the food industry. Major products include ethylene glycol, caustic soda, chlorine, and vinyl chloride monomer (VCM, for making PVC). Ethylene oxide (EO) and propylene oxide and the derived alcohols ethylene glycol and propylene glycol are major feedstocks for the manufacture of plastics such as polyurethane and PET.

Hydrocarbons and energy

The Hydrocarbons and Energy operating segment (13% of sales) oversees energy management at Dow, succeeding in raising energy efficiency by 92% since 1990.[8] Fuels and oil-based raw materials are also procured. Major feedstocks for Dow are provided by this group, including ethylene, propylene, 1,3-butadiene, benzene and styrene.

History

Early history

The company originally sold only bleach and potassium bromide, achieving a bleach output of 72 tons a day in 1902. Early in the company's existence, a group of British manufacturers attempted to drive Dow out of the bleach business by cutting prices. Dow survived by cutting prices in response and, although losing about $90,000 in income, began to diversify its product line.[11] In 1905 German bromide producers drastically reduced their price of bromides in the US in an effort to prevent Dow from expanding its sales of bromides in Europe. Dow was able to purchase German-made bromides in the US, ship them back to Europe and still sell them at a lower price than the German producers were charging.[12] Even in its early history, the company set a tradition of rapidly diversifying its product line. Within twenty years, Dow had become a major producer of agricultural chemicals, elemental chlorine, phenol and other dyestuffs, and magnesium metal.

In the 1930s, Dow began production of plastic resins, which would grow to become one of the corporation's major businesses. Its first plastic products were ethylcellulose, made in 1935, and polystyrene, made in 1937.

Diversification and expansion

In 1940–1941, Dow built its first plant to produce magnesium extracted from seawater rather than underground brine. This marked the first time man had 'mined the ocean for metal'.[13] Growth of this business made Dow a strategically important business during World War II, as magnesium became important in fabricating lightweight parts for aircraft. Also during the war, Dow and Corning began their joint venture, Dow Corning, to produce silicones for military and later civilian use. In 1942 Dow began its foreign expansion with the formation of Dow Chemical of Canada in Sarnia, Ontario to produce styrene for use in styrene-butadiene synthetic rubber.

In 1940, Dow began plant construction in Freeport, Texas. This is now the home to Dow's largest site - and one of the largest integrated chemical manufacturing sites in the world. One of the first plants to come on stream was the first facility to extract magnesium from seawater. The site grew quickly - with power, chlorine, caustic soda and ethylene also soon in production.[13] Based on 2002–2003 data, the Freeport plants (known as Texas Operations internally) produced 27 billion pounds of product - or 21% of Dow's global production.[14]

The "Ethyl-Dow Chemical Company" plant at "Kure's Beach" NC , the only plant on the East Coast producing bromine from seawater, was attacked by a German U-boat in 1942.[15]

In the post-war era, Dow began expanding outside North America, founding its first overseas subsidiary in Japan in 1952, with several other nations following rapidly thereafter. Based largely on its growing plastics business, it opened a consumer products division beginning with Saran wrap in 1953. Based on its growing chemicals and plastics businesses, Dow's sales exceeded $1 billion in 1964, $2 billion in 1971, and $10 billion in 1980.

Nuclear Weapons

From 1951 to 1975 Dow managed the Rocky Flats Plant. Rocky Flats was a nuclear weapons production facilty which produced plutonium triggers for hydrogen bombs.

Contamination from fires and radioactive waste leakage plagued the facility under Dow management. In 1957 and 1969 fires burned plutonium dust in the facility and sent radioactive particles into the atmosphere. The fire in 1969 was the costliest industrial accident to ever occur in the United States up to that time. 3,500 barrels of lubricants and solvents, laden with plutonium leaked into the ground in 1967. Management of the facility was handed over to Rockwell International in 1975. A class action lawsuit was filed against Dow and Rockwell in 1990. In 2008 a federal judge ordered Dow and Rockwell to pay a combined $925 million in damages to citizens.[16]

Vietnam War: napalm and Agent Orange

During the Vietnam War, Dow became the sole supplier of napalm to the United States military who used napalm in their efforts during the war.

Agent Orange, a chemical defoliant containing dioxin, was also manufactured by Dow in New Plymouth, New Zealand and in America for use by the U.S. military during the Vietnam War. In 2005, a lawsuit was filed by Vietnamese victims of Agent Orange against Dow and Monsanto Company, which also supplied Agent Orange to the military. The lawsuit was dismissed.[17]

Dow Corning breast implants

A major manufacturer of silicone breast implants, Dow Corning (Dow Chemical's Joint Venture with Corning Inc.) was sued for personal damages caused by ruptured implants. Per the 2005 10-K for The Dow Chemical Company filing "On October 6, 2005, all such cases then pending in the District Court against the Company were dismissed. Should cases involving Dow Corning's breast implant and other silicone medical products be filed against the Company in the future, they will be accorded similar treatment." The Dow Chemical Company - 10-K Filing - 2005

DBCP

Until the late 1970s, Dow produced DBCP (1,2-dibromo-3-chloropropane), a soil fumigant and nematicide sold under the names the Nemagon and Fumazone. Workers at Dow's DBCP production were made sterile by exposure to the compound. These male reproductive effects were consistent with animal experiments showing that DBCP sterilized rabbits. The workers successfully sued the company, and most domestic uses of DBCP were banned in 1977. Amid growing concerns over the chemical's effects on male workers, Dow ceased production and reclaimed DBCP that had been shipped to its users. Despite warning from the company about its health effects, Dole Food Company, who was using the chemical on its banana plantations in Latin America, threatened to sue Dow if it stopped DBCP shipments, so Dow shipped half a million gallons of DBCP to Dole, much it reclaimed from other users. Plantation workers who became sterile or were stricken with other maladies subsequently sued both Dow and Dole in Latin American courts, alleging that their ailments were caused by DBCP exposure. While the courts agreed with the workers and awarded them over $600 million in damages, they have been unable to collect payments from the companies. A group of workers then sued in the United States, and, on November 5, 2007, a Los Angeles jury awarded them 3.2 million dollars. Dole and Dow vowed to appeal the decision.[18] On April 23, 2009 a Los Angeles judge threw out two cases against Dole and Dow due to fraud and extortion by lawyers in Nicaragua recruiting fraudulent plaintiffs to make claims against the company.[19] The ruling casts doubt on $2 billion in judgments in similar lawsuits.[20]

Recent Mergers, Acquisitions, and Reorganization

1990's – transition from geographic alignment to global business units

In the early 1990s, Dow embarked on a major structural reorganization. The former reporting hierarchy was geographic based, with the regional president reporting directly to the overall company President and CEO. The new organization combines the same businesses from different sites, irrespective of which region they belong (i.e. the vice president for Polystyrene is now in charge of these plants all over the world), almost reducing the regional president to a figurehead.

In 1995, Dow was fined $732,000 for not sending the EPA reports it had received on 249 Dursban poisoning incidents. In June 2000, Dow withdrew registration of chlorpyrifos for use in homes and other places where children could be exposed, and severely restricted its use on crops. The company, however, continues to market Dursban in industrializing countries, including India, where Dow's sales literature claimed Dursban has "an established record of safety regarding humans and pets."

In 2003, Dow agreed to pay $2 million - the largest penalty ever in a pesticide case - to the state of New York, in response to a lawsuit filed by the Attorney General to end Dow's illegal advertising of Dursban as "safe".

Union Carbide merger

At the beginning of August 1999, Dow agreed to purchase Union Carbide Corporation for $9.3 billion in stock. At the time the combined company was the second largest chemical company, behind DuPont. This led to protests from some stockholders, who feared that Dow would become responsible for Union Carbide's role in the Bhopal disaster.

Bill Stavropoulos served as President and Chief Executive Officer from 1995–2000 and again from 2002–2004. He relinquished his board seat on April 1, 2006, having been a director since 1990 and chairman since 2000. During his first tenure, he led the purchase of Union Carbide which proved controversial, as it was blamed for poor results under his successor as CEO Mike Parker. Parker was dismissed and Stavropoulos returned from retirement to lead a turnaround of Dow.[21]

Today, Dow is the world's largest producer of plastics[citation needed]; with its 2001 acquisition of Union Carbide, it has become a major player in the petrochemical industry as well.

2006–2008 Restructuring

On August 31, 2006 Dow announced that it had plans to close facilities at three locations:[22]

  • It will shut down all of its production in Sarnia, Ontario by the end of 2008. Sarnia had been Dow's first manufacturing site in Canada. In 1942, the Canadian government invited Dow to build a plant there to produce styrene (an essential raw material used to make synthetic rubber for World War II). Dow then built a polystyrene plant in 1947. Up to the early 1990s, the Chemical Valley site contained numerous plants, while Dow Canada's headquarters were located at the Modeland Centre, and a new River Centre complex was opened which housed Research and Development. Since then, several plants on the site have been dismantled and Dow Canada headquarters were moved to Calgary, Alberta, while the Dow Fitness Centre was donated to YMCA of Sarnia-Lambton, and the Modeland Centre was sold to Lambton County and the City of Sarnia. In 2000, Sarnia Site was the location of a pilot plant for ethylene-styrene interpolymer (ESI) but ending up production never progressed and the project was ended. In 2002, the old steam plant was demolished and land on the site was sold to TransAlta which built a new natural gas power plant. As of 2003, the remaining plants on the site produce Polystyrene, Low Density Polyethylene (LDPE), Epoxy Resins, Polyols (Propylene Oxide Derivatives), and Latexes.[23]
  • One plant (Dow terminology for a production unit) at its site in Porto Marghera (Venice), Italy which had been shut down for planned maintenance earlier that month, will not be restarted.
  • Two plants at its major site in Fort Saskatchewan, Alberta were to be shut down by the end of October 2006.

In December 2007, Dow announced a series of moves to revamp the company. A December 4 announcement revealed that Dow planned to exit the automotive sealers business in 2008 or 2009.[24] Within several weeks, Dow also announced the formation of a joint venture, later named K-Dow, with the Petrochemical Industries Company (PIC), a subsidiary of Kuwait Petroleum Corporation. In exchange for $9.5 billion, Dow sold a 50% interest in five of its global businesses: polyethylene, polypropylene and polycarbonate plastics, and ethylenamines and ethanolamines.[25]

Rohm & Haas Company purchase

On July 10, 2008, Dow agreed to purchase all of the common equity interest of Rohm and Haas Company for $18.8 billion, which equates to $78 for each share. The buyout will be financed with equity investments of $3 billion by Berkshire Hathaway Inc. and $1 billion by the Kuwait Investment Authority. The purpose of the deal is to move Dow Chemical further into specialty chemicals, which offer higher profit margins than the commodities market and are more difficult to enter for the competition. The purchase has been criticized by many on Wall Street who believe Dow Chemical overpaid (about a 75% premium on the previous day's market capital) to acquire the company; however, the high bid was needed to ward off competing bids from BASF. The transaction to purchase the outstanding interest of Rohm and Haas closed on April 1, 2009.[26]

Accelerated Implementation

On December 8, 2008 Dow announced due to the 2008 economic crisis they would accelerate job cuts resulting from their reorganization. The announced plan includes closing 20 high-cost facilities, temporary idling of 180 plants, and elimination of 5,000 full-time jobs (about 11 percent of their work-force) and 6,000 contractor positions.[27]

Strategy Interruption

Citing the global recession that begin in the latter half of 2008, the Kuwaiti government scuttled the K-Dow partnership on December 28, 2008.[28] The collapse of the deal dealt a blow to Andrew Liveris' vision of restructuring the company to make less cyclical. However, on January 6, 2009 Dow Chemical announced they were in talks with other parties who could be interested in a major joint venture with the company.[29] They also announced they would be seeking to recover damages related to the failed Joint Venture from PIC.[29]

After the K-Dow deal collapsed, some speculated Dow would not complete the Rohm & Haas transaction, as the cash from the former transaction was expected to fund the latter.[30] The deal was expected to be finalized in early 2009 and was to form one of the nation's largest specialty chemicals firms.[31][32] However, on January 26, 2009 the company informed Rohm and Haas that it would be unable to complete the transaction by the agreed upon deadline.[33] Dow cited a deteriorated credit market and the collapse of the K-Dow Petrochemical deal as reasons for failing to timely close the merger. Around the same time CEO Andrew Liveris said a first time cut to the company's 97 year old dividend policy was not "off the table". On February 12, 2009 the company declared a quarterly dividend of $.15/share, down from $.42 the previous quarter. The cut represented the first time the company had diminished its investor payout in the dividend's 97 year history.[34][35]

After negotiating the sale of Preferred Stock with Rohm and Hass' largest two stockholders and extending their one year bridge loan an additional year, the company announced a closure of the merger on March 9, 2009. The purchase price will be the previously agreed upon $78 a share.[26]

Chlorpyrifos

Chlorpyrifos, marketed by Dow as Dursban, is well known as a home and garden insecticide, and until 2000 it was one of the most widely used household pesticide in the US. The pesticide is also a nerve toxin and suspected endocrine disruptor and has been associated with carcinogenicity, reproductive and developmental toxicity, and acute toxicity. Pesticide Action Network, a hazardous pesticide elimination advocacy group, estimated Dow contributed 80% of human exposure to chlorpyrifos based on their estimate of Dow's market share in 2004.[36]

Dioxin Leaks

Areas along Michigan's Tittabawassee River, which runs within yards of Dow's main plant in Midland, were found to contain elevated levels of the cancer-causing chemical dioxin in November 2006. The dioxin was located in sediments two to ten feet below the surface of the river, and, according to the New York Times, "there is no indication that residents or workers in the area are directly exposed to the sites".[37] However, people who often eat fish from the river had slightly elevated levels of dioxin in their blood.[37] In July 2007, Dow reached an agreement with the Environmental Protection Agency to remove 50,000 cubic yards (38,000 m3) of sediment from three areas of the riverbed and levees of the river that had been found to be contaminated.[38] In November 2008, Dow Chemical along with the United States Environmental Protection Agency and Michigan Department of Environmental Quality agreed to establish a Superfund to address dioxin cleanup of the Tittabawassee River, Saginaw River and Saginaw Bay.[39]

Environmental record

The Political Economy Research Institute ranks Dow Chemical third among corporations emitting airborne pollutants in the United States. The ranking is based on the quantity (11 million pounds in 2005) and toxicity of the emissions.[40] According to the United States Environmental Protection Agency (EPA), Dow has some responsibility for 96 of the United States' worst Superfund toxic waste dumps placing it in tenth place by number of sites. One of these, a mining site, is listed as the sole responsibility of Dow. The rest are shared with numerous other companies. Fifteen sites have been listed by the EPA as finalized (cleaned up) and 69 are listed as "construction complete", meaning that all required plans and equipment for cleanup are in place.[41]

In 2007, Dow was awarded an American Chemical Council (ACC) award of 'Exceptional Merit' in recognition of its longstanding energy efficiency and conservation efforts. Between 1995 and 2005, Dow reduced energy intensity (BTU per pound produced) by 22%. This is equivalent to saving enough electricity to power eight million US homes for a year.[42] The same year, Dow subsidiary Dow Agrosciences won a United Nations Montreal Protocol Innovators Award for its efforts in helping replace methyl bromide - a compound identified as contributing to the depletion of the ozone layer. In addition, Dow Agrosciences won an EPA "Best of the Best" Stratospheric Ozone Protection Award. [1]. The United States Environmental Protection Agency (EPA) named Dow as a 2008 Energy Star Partner of the Year for excellence in energy management and reductions in greenhouse gas emissions.[43]

In 2008, Dow was reported[44] as being the major supplier of pesticides based on aminopyralid which had contaminated manure and caused widespread loss of vegetable crops in allotments and gardens across the UK.

Board of directors

Current members of the board of directors of The Dow Chemical Company are:

2007 dismissal of senior executives

On April 12, 2007, Dow dismissed two senior executives for "unauthorized discussions with third parties about the potential sale of the company." The two figures are executive vice president Romeo Kreinberg, and director and former CFO J. Pedro Reinhard. Dow claims they were secretly in contact with JPMorgan Chase; at the same time, a story surfaced in Britain's Sunday Express regarding a possible leveraged buyout of Dow. The two executives have since filed lawsuits claiming they were fired for being a threat to CEO Liveris, and that the allegations were concocted as a pretext.[46] However, in June 2008 Dow Chemical and the litigants announced a settlement in which Kreinberg and Reinhard dropped their lawsuits and admitted taking part in discussions "which were not authorized by, nor disclosed to, Dow's board concerning a potential LBO" and acknowledged that it would have been appropriate to have informed the CEO and board of the talks.[47]

Major Sponsorships

In September 2004, the company obtained the naming rights to the Saginaw County Event Center in Saginaw, Michigan; the center is now called the Dow Event Center. The Saginaw Spirit (of the Ontario Hockey League) plays at the Center, which also hosts events such as professional wrestling and live theater.[48][49]

In October 2006 the company bought the naming rights to the stadium used by the Great Lakes Loons, a Single-A minor league baseball team located in its hometown of Midland, Michigan. The stadium, which opened in April 2007, is called Dow Diamond. The Dow Foundation played a key role in bringing the Loons to the city.

Dow is a major sponsor of US Speedskating's Short Track and Long Track Teams.

The company also sponsors a global running relay to highlight the need for better drinking water in locations around the globe. The run will roughly follow the 41st North parallel and cover nearly 12,000 miles (19,000 km). The run is organized by the Blue Planet Run Foundation.

Dow owns the Saginaw River Light and is active in its restoration.

Outlook

Dow CEO Andrew N. Liveris called 2005 the company's "best year ever" with operating profits of $5.4 billion, a jump of 56.5% compared with the previous year.[50] Net income rose more than 60% to $4.5 billion, on sales of $46.3 billion. 2006 looks as if it could be even better, with first-quarter net earnings of $1.2 billion.[51] All this is occurring in the context of adverse operating conditions, caused by high energy and raw material costs, and the effects of two damaging hurricanes.

Liveris supports the vertically integrated approach used at Dow, which produces everything from basic chemical feedstocks to high value products such as pesticides and reverse osmosis membranes. These value-adding product chains, along with Dow's wide product range, help the company to weather the storms of the global economy. Despite this, high energy and feedstock costs may begin to take their toll, particularly if global demand begins to fall just as supply is rising.

Like many chemical companies, Dow is facing pressures of regulation in the US and Europe, particularly as the EU introduces its new REACH policy. Litigation costs in the US taken over by Dow as a result of its 2001 takeover of Union Carbide also remain a concern.

For these reasons the company is looking to the Middle East and Asia for new projects. In Kuwait , Dow is constructing (with PIC of Kuwait) a new world-scale ethane cracker for production of ethylene, along with an ethylene oxide/ethylene glycol plant and (for 2008) a facility for production of aromatic hydrocarbons. In Oman, the company is working with the Oman government to build a new world-scale polyethylene plant. In China, the company is collaborating with Shenhua Group (the country's largest coal mining company) to improve catalyst efficiency to allow viable conversion of coal to olefins. Dow is also seeking to expand its R&D presence in Asia, adding 600 jobs in Shanghai by the end of 2007, and the company may open up a large R&D center in India.

The joint ventures planned for Asia are typical of Dow's "asset-light" approach, which works by offering a combination of intellectual property and money in exchange for a share in a world-scale production facility. At the same time, the company is considering selling a share of some of its existing assets in order to free up cash.

In June 2006 Liveris announced Dow's safety and environmental goals for 2015:[51]

  • 75% reduction in environmental, health and safety indicators from 2005. The company aims to have no fatalities, and a reduction in injuries, spillages and leaks.
  • 25% increase in energy efficiency.
  • 2.5% annual reduction in greenhouse gas emissions intensity.

Liveris expects these goals to be reached predominantly with fossil fuels, through energy conservation and reduction of energy intensity, as he does not expect alternative energy to play a major role for at least 10–20 years.

Subsidiaries and Joint Ventures

Dow Chemical has a number of Subsidiaries and Joint Ventures.[52]

Subsidiaries

Current Joint Ventures

Former Joint Ventures

Notes

  1. ^ a b c d e f "Financial Tables". Dow Chemical Company Investor Relations. http://www.google.com/finance?q=NYSE:DOW&fstype=ii. Retrieved 2009-01-23. 
  2. ^ The Dow Chemical Company information and related industry information from Hoover's United Kingdom (UK)
  3. ^ "Dow's vision statement". http://www.dow.com/about/aboutdow/vision.htm. Retrieved 2007-11-28. 
  4. ^ "Hall of Fame Inventor Profile". National Inventors Hall of Fame. http://www.invent.org/hall_of_fame/45.html. Retrieved 2006-06-24. 
  5. ^ a b "Corporate Profile" (PDF). The Dow Chemical Company. http://www.dow.com/about/aboutdow/profile/CorpProfile2006.pdf. Retrieved 2006-06-24. 
  6. ^ "Fast Facts". The Dow Chemical Company. http://news.dow.com/dow_news/press/pre_fast.htm. Retrieved 2006-06-24. 
  7. ^ "Quote from John Tysse, Dow vice-president of sales and marketing". http://caselaw.lp.findlaw.com/scripts/getcase.pl?court=il&vol=app/2005/1031657&invol. Retrieved 2007-11-28. 
  8. ^ a b Chemical and Engineering News, Vol. 84, Issue 22 (May 29, 2006), pp 10-15
  9. ^ "ANGUS Chemical Company". The Dow Chemical Company. http://www.dow.com/angus/. Retrieved 2006-06-26. 
  10. ^ "Dow's Filmtec to help manage ME water needs". Trade Arabia. http://www.tradearabia.com/news/ENV_148211.html. Retrieved 2008-08-26. 
  11. ^ "Dow Chemical". University of Michigan Department of Geography. http://www.geo.msu.edu/geo333/dow.html. Retrieved 2006-06-24. 
  12. ^ Brandt, E.N. (1997). Growth Company: Dow Chemical's First Century. East Lansing, MI: Michigan State University Press. ISBN 0-87013-426-4. 
  13. ^ a b History of Texas Operations
  14. ^ Dow Texas Operations Fast Facts
  15. ^ Morton, Jr, Wilbur D. The Journey Continues: The World War II Home Front. p. xxiv,64. 
  16. ^ "Rocky Flats: Dow Chemical And Rockwell International Billed $925M For Contamination At Nuclear Site". huffingtonpost.com. 2008-06-03. http://www.huffingtonpost.com/2008/06/03/rocky-flats-dow-chemical_n_104974.html. Retrieved 2009-08-09. 
  17. ^ "US won't compensate Vietnam's Agent Orange victims: official". AFP. 2006-06-06. http://www.commondreams.org/headlines06/0605-03.htm. Retrieved 2009-11-28. 
  18. ^ "Dole must pay farmworkers $3.2 million", John Spano, Los Angeles Times, November 6, 2007.
  19. ^ Hallman, Ben. - "Finding Plaintiffs Lawyers Committed Fraud, Judge Dismisses Tort Cases Against Dole and Dow Chemical". - The American Lawyer. - April 27, 2009.
  20. ^ Keating, Gina. - "Judge throws out Dole "bananeros" cases, citing fraud". - Forbes. - April 24, 2009.
  21. ^ William Stavropoulos to Retire as Chairman of Dow; Andrew Liveris Elected Chairman Effective April 1, 2006
  22. ^ "Dow Announces Plant Closures To Strengthen Competitive Position". The Dow Chemical Company. 2006-08-31. http://news.dow.com/dow_news/corporate/2006/20060831g.htm. Retrieved 2006-09-13. 
  23. ^ Letter from the Site Leader — Steve Bolt
  24. ^ "Dow Chemical Job Cuts". The New York Times. December 5, 2007. http://www.nytimes.com/2007/12/05/business/05dow.html. Retrieved 2008-04-17. 
  25. ^ "Dow Chemical Gets Kuwaiti Partner". The New York Times. December 14, 2007. http://www.nytimes.com/2007/12/14/business/worldbusiness/14chemical.html. Retrieved 2008-04-17. 
  26. ^ a b "Dow closes on Rohm & Haas buyout". 2009-04-01. http://finance.yahoo.com/news/Dow-closes-on-Rohm-amp-Haas-apf-14817696.html. 
  27. ^ "Dow Accelerates Implementation of its Transformational Strategy". 2008-12-08. http://phx.corporate-ir.net/phoenix.zhtml?c=80099&p=irol-eventDetails&EventId=2048018. 
  28. ^ Diana Elias (December 28 2008). "Kuwait scraps$17.4 billion venture with Dow Chemical". Detroit Free Press. http://www.freep.com/article/20081228/BUSINESS07/81228030. Retrieved December 28 2008. 
  29. ^ a b "Dow Chemical Confirms Commitment to Transformational Corporate Strategy". 2009-01-06. http://news.dow.com/dow_news/corporate/2009/20090106a.htm. 
  30. ^ "Rohm and Dow shares fall on investor concern over deal". Reuters. 2008-12-29. http://biz.yahoo.com/rb/081229/business_us_rohm_dow_shares.html?.v=10. Retrieved 2009-01-02. 
  31. ^ ""Dow Chemical agrees to buy Rohm & Haas"". Chicago Tribune. 2008-07-11. http://www.chicagotribune.com/business/chi-fri-dow-chemical-rohm-haas-jul11,0,3989958.story. Retrieved 2008-07-11. 
  32. ^ Dow Chemical to Buy Rohm and Haas, Wall Street Journal, July 11, 2008, p.B1
  33. ^ "Dow Chemical Confirms Rohm and Haas Acquisition Will Not Close On or Before January 27, 2009". 2009-01-26. http://news.dow.com/dow_news/corporate/2009/20090126b.htm. 
  34. ^ Dow Chemical Likely Glad Week's Over
  35. ^ Against the Grain: Buy Dow Chemical!
  36. ^ http://www.panna.org/docsTrespass/ChemTresExSumEng%28screen%29.pdf
  37. ^ a b Barringer, Felicity (July 4, 2007). "E.P.A. and Dow in Talks on Dioxin Cleanup at Main Factory". The New York Times. http://www.nytimes.com/2007/07/04/us/04dioxin.html. Retrieved 2008-04-17. 
  38. ^ Barringer, Felicity (July 18, 2007). "Michigan: Dioxin Deal". The New York Times. http://www.nytimes.com/2007/07/18/us/18brfs-dioxin.html. Retrieved 2008-04-17. 
  39. ^ "Superfund Alternative Site possible on Tittabawassee". November 11, 2008. http://ourmidland.com/articles/2008/11/12/local_news/1362469.txt. Retrieved 2008-11-12. 
  40. ^ Political Economy Research Institute - Toxic 100
  41. ^ Center for Public Integrity
  42. ^ Dow Wins 2006 ACC Responsible Care Energy Efficiency Award
  43. ^ "EPA Names The Dow Chemical Company 2008 ENERGY STAR Partner of the Year". MSN Money. 2008-03-14PM ET. http://news.moneycentral.msn.com/ticker/article.aspx?Feed=PR&Date=20080314&ID=8341331&Symbol=DOW. Retrieved 2008-03-18. 
  44. ^ Davies, Caroline (2008-06-29). "Homegrown veg ruined by toxic fertiliser". The Observer. http://www.guardian.co.uk/environment/2008/jun/29/food.agriculture. Retrieved 2008-07-02. 
  45. ^ "Board of Directors". The Dow Chemical Company. http://www.dow.com/corpgov/leader/stern.htm. Retrieved 2006-06-23. 
  46. ^ ""Former Dow executives fight back"", Chemical and Engineering News: 12, May 14 2007, http://pubs.acs.org/cen/news/85/i20/8520notw6.html 
  47. ^ ""Case Closed"", Chemical and Engineering News: 10, June 19 2008, http://pubs.acs.org/cen/news/86/i23/8623notw2.html 
  48. ^ "The Dow Event Center". The Dow Chemical Company. http://www.dow.com/facilities/namerica/michigan/outreach/eventcenter.htm. Retrieved 2006-06-27. 
  49. ^ "Welcome to the Dow Event Center". Dow Event Center. http://www.doweventcenter.com/. Retrieved 2006-06-27. 
  50. ^ "Top 50 Chemical Producers", Chemical and Engineering News, Vol. 84, Issue 20 (May 15, 2006), pp 10-15
  51. ^ a b "Liveris Tells It Like It Is", Chemical and Engineering News, Vol. 84, Issue 22 (May 29, 2006), pp 10-15
  52. ^ "Joint Ventures and Subsidiaries". The Dow Chemical Company. http://www.dow.com/about/aboutdow/joint/main.htm. Retrieved 2008-07-19. 
  53. ^ http://216.39.100.211/PRNewswire/release/188527.html

Further reading

  • Ray H. Boundy, J. Lawrence Amos. (1990). A History of the Dow Chemical Physics Lab: The Freedom to be Creative. M. Dekker. ISBN 0824780973.
  • E. Ned Brandt. (2003). Growth Company: Dow Chemical's First Century. Michigan State University Press. ISBN 0-87013-426-4
  • Don Whitehead and Max Dendermonde. (1968). The Dow Story: The History of the Dow Chemical Company. McGraw-Hill. ISBN 9080009997.

External links



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THIRUVANANTHAPURAM: With the death of a 24yearold woman on Saturday who had been undergoing treatment at the Medical College Hospital in Kottayam, the death toll from swine flu since May 1 in the state has risen to 15.

Regulatory checks on medical devices essential, says govt.

TheMedGuru - Neha Jindal - ‎10 hours ago‎
In order to ensure safety and efficiency of medical devices, central government recently proposed a regulatory check on the quality of medical equipments.

Soon, one-shot radiotherapy for breast cancer?

Times of India - ‎Jun 9, 2010‎
NEW DELHI: Radiotherapy for breast cancer patients could soon be a single dose 30-minute affair, instead of the tedious present-day regimen lasting over six weeks.
Cancer Therapy: Stasis no More Express Healthcare Management
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Restrictions to continue

GreaterKashmir.com (press release) - ‎1 hour ago‎
Srinagar, June 12: In view of the eruption of widespread protests across the city against the killing of teenager, Tufail Ahmad Mattoo, the authorities have decided to impose restrictions in parts of the city, mainly old city areas, under section 144 ...

Nithyananda out of jail, back in his Bidadi ashram

The Hindu - ‎14 hours ago‎
After over 50 days of police and judicial custody, Nithyananda of Nithyananda Dhyanapeetam in Bidadi, accused of rape, criminal intimidation and cheating, was released from the prison in Ramanagaram.
Video: Swami Nityananda released NewsX

LTTE-backers blow up rail track in TN

Times of India - Bosco Dominique, Praveen Kumar - ‎17 hours ago‎
VILLUPURAM: Passengers of Tiruchi-Chennai Rockfort Express had a narrow escape as their train screeched to a halt about 200 feet from a crater caused by an explosion triggered by pro-Eelam extremists early on Saturday morning.

ULFA ready for talks, says Gogoi

The Hindu - Sushanta Talukdar - ‎19 minutes ago‎
PTI Assam Chief Minister Tarun Gogoi has said a top leader of the ULFA had formally conveyed to him that the outfit was ready to hold talks with the government.

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