Crossroads

At the intersection of technology, finance and the Pacific Rim.

Tuesday, July 08, 2008

Catching up on the News

The latest on the BP travails in Russia come compliments of the NY Times:

The Russian partners in BPā€™s joint venture tried to fire the chief executive at a board meeting on Monday, but they were outvoted by directors nominated from the British side.
Beyond proving an adage in Russian investing ā€” do not turn your back on your Russian partner ā€” the vote highlighted the continuing struggle of BP to maintain control over a pumping asset that is exceptionally important for its global business.

Also, on the on-going saga of InBev vs. Anheuser Busch, the battle is turning hostile. InBev, through filings with the SEC made clear its intent of removing the AB Board of Directors and in a public statement declared:

"InBev believes it is time to take action to ensure Anheuser-Busch shareholders are provided the opportunity to have a direct voice in the process and a say in the future direction of the company,ā€ the company said.

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