What brings all these companies together in one (electronic) place and for one cause?
[note: pending an upgrade of this blog, so I can overcome the WordPress nasty habit of stripping out the paragraph returns, even when they are manually inserted, html and all, in “text” mode — I am going to have to use the horizontal line function…
… as a paragraph return. I did learn that this is a common issue a plug-in, or certain code will fix — if you have customizable function. Anyone is willing to drop a few in the “donate” bucket (button just added to website) and that’ll be one of its first uses. We are getting to the point of “irreconcilable differences” between blogger and blog domain, otherwise….It’s slowly driving me batty, and a real timesucker…]
Where do you think I found this, given what I blog on?
A nice history of their consolidations and mergers going back to the 1800s…
Genzyme Corporation is a fully owned subsidiary of Sanofi.
Before its acquisition in 2011, Genzyme was an American biotechnology company based in Cambridge, Massachusetts.
In 2010, Genzyme was the world’s third-largest biotechnology company, employing more than 11,000 people around the world.
[Present, i.e., 2013] As a subsidiary of Sanofi-Aventis, Genzyme has a presence in approximately 40 countries, including 17 manufacturing facilities and 9 genetic-testing laboratories, its products are sold in 90 countries.
In 2007, Genzyme generated $3.8 billion in revenues with more than 25 products in the market.
In 2006 and 2007 Genzyme was named one of Fortune Magazine’s “100 Best Companies to Work for”. The company donated $83 million worth of products worldwide; in 2006, it made $11 million in cash donations.
“For pioneering dramatic improvements in the health of thousands of patients with rare diseases and harnessing the promise of biotechnology to develop innovative new therapies.” (found at USPTO.gov meaning, the United States Patent and Trademark Office, which is part of the US Department of Commerce), the idea behind “National” was, on behalf of the United States…
Then along came Sanofi-Aventis…
Sanofi’s headquarters are located in Paris (France), 54 rue La Boétie
Africa and Middle East
Who started it, how did it grow, what did it do in all those countries getting an award from the President of the United States (after which it was sold off to Sanofi-Aventis, HQ in France)?
The ocean is large, and today’s big fish predator can in a flash become tomorrow’s eaten. Will they survive intact as the prophet Jonah [trying to veer off-course, recognizing it a little too late in the day] in the belly of the whale, or not?) Or, how did Genzyme get even up to the middle of the food chain to start with?
This is so fascinating, it just got its own separate post on the various currents in the ocean of biotech corporation buyouts. Currently in the loading (publishing) zone as “Genzyme, BioEnvision, ImPath, Sanofi — New Strains of Fish in the Ocean of Commerce“
I’m fascinated with how people positioned themselves either in HIGH SCHOOL (with some help, if the parents were exceptionally privileged) and can take a basic not-too-many-brains bachelor’s degree, and through the right kind of schmoozing, and hooking up with the guys who obviously DO have the scientific brains, in part because they simply love their research — and make millions, while making the world economy, billions.
March 30, 2005, in New York Times / by the Bloomberg News: “2 Top Officials at Impath are Indicted“
The former chief executive and chief operating officer of Impath, a bankrupt medical data company, have been indicted on charges that they participated in an accounting fraud, federal prosecutors said yesterday.
Anu D. Saad, the former chairman and chief executive, and Richard P. Adelson, the former president and chief operating officer, are accused of leading a plan to artificially inflate the market price of Impath stock by issuing false financial reports that resulted in shareholder losses of $260 million, the United States attorney for the Southern District of New York, David N. Kelley, said at a news conference.
“Unfortunately for the investing public who relied on these reports, Impath’s financial profile was nothing more than a house of cards,” Mr. Kelley said.
The indictments against Mr. Saad and Mr. Adelson were unsealed yesterday. Four other former executives have pleaded guilty to criminal charges stemming from the fraud. Impath, which provided diagnostic and other cancer-related laboratory services, filed for bankruptcy in 2003 after disclosing it was under investigation. After trying to reorganize, the company decided to liquidate its assets to pay off creditors and will shut down
Or, as the opening arguments of the prosecutor went (2006)
Law360, New York (January 31, 2006, 12:00 AM ET) — In the kick-off to his criminal trial, federal prosecutors have accused the former president of Impath Inc. of engineering a massive accounting fraud scheme that cost shareholders $260 million and drove the medical diagnostic company straight into bankruptcy.
Richard Adelson overstated Impath’s revenues by $60 million in a plot that led directly to the company’s financial ruin, alleged Assistant U.S. Attorney Raymond Lohier in opening statements.
“Along with his co-conspirators, this man lied to the public and lied to the people who invested their money in Impath,” Lohier said in U.S. District Court in Manhattan on Monday.
In March 2005, Adelson, who also served as Impath’s Chief Operating Officer, and Impath’s former chief executive, Anuradha Saad, were charged with artificially inflating the company’s profits and sales revenue, a move designed to pump up the company’s share price for the executives’ personal gain.
Hailed as one of the fastest growing companies in the United States and one of the 10 fastest growing companies on the Nasdaq Exchange, Impath’s revenues began to fall below Wall Street expectations, placing undue stress on the company, Lohier said. “The higher it went, the more pressure there was on Impath’s executives to keep it going,” Lohier said.
To keep the value of the company high, Adelson, along with other top executives, decided to exaggerate revenues and, at times, “literally make up the numbers,” Lohier accused.
Adelson’s attorney, Mark Arisohn, fired back, claiming that his client was a victim of deceitful employees, who are trying to blame Adelson in an attempt to receive lighter prison sentences. “He did not know, could not have known, what was going on,” Arisohn said in his statement before the jurors.
After the government disclosed the investigation into the accounting irregularities in July 2003, Impath’s share price plummeted by more than 88%, leading to a loss of more than $260 million in shareholder value
Which translated into a nice fire sale for Genzyme. “Gulp!” then Genzyme got gulped by Sanofi. That’s how it goes…
Again, WHAT are all those corporations doing on a single webpage
I looked at DAIMLER and decided to make a point of, what’s it doing on this list?
By the way, this is also in part how I learn things. It’s called reading, and figuring out what to call and where to put that information — what piece in the puzzle is this?
It takes some non-Facebook reading time and just looking things up onesself. Clearly someone isn’t giving people going through the courts a good honest narrative, so the elements that DO constitute a good, honest narrative from “My” point of view, should be assembled — but in a non-narcissistic manner. Too often people are caught (by pre-arrangement from people who supplied the menu) between what looks like (but isn’t) only two choices: “Us, or Them.” When that unresolveable conflict (because both “Us-es” and “Thems” desire to live, and extermination/genocide/forced sterilization is undesirable!) the result will be a third choice — foressen in advance, generally speaking. That’s Triangulation, the Hegelian dialect (i.e., materialistic purposeful system change), and the “Unfreeze-Change-Refreeze”setup.
In such dynamics, often one party (the one starting the conflict) ALREADY has in mind a desired outcome, like a corporate takeover, or colonization. When I talk about “changing the conversation” it comes after having read “outside the nine dots” seeking comprehension. This is wear, avid and habitual reading and lookups will come to your aid, many times, pointing to uncommon “common sense.”
So, about DAIMLER….
Maybe not a household name but they produce some what is a household name — and what goes along with the business: Autos, and Financial Services to help lease, and manage, autos:
The company’s founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As a pioneer of automotive engineering, we continue to shape the future of mobility today: …
We are one of the world’s most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance and innovative mobility services
Where are its headquarters? (Stuttgart, Germany). Does it trade on the NYSE? (It’s listed in Frankfurt & Stuttgart exchanges).
How many people own, and run, the Daimler Group?
Daimler is owned by European, U.S. and other international investors. More than one billion shares (December 31, 2012) are circulating
Chairman: Dr. Dieter Zetsche (click to see just how international his experience, and for a reminder about “Chrysler” and the 1979 US Congressional bailout of Chrysler. **Board of Management consists of 8 members (including the Chairman and the heads of the operating and functional divisions).
Revenues in 2012? Euros 114.3 billion, which (at least today) translates into $146.8 billion ($146,829,780,000 ) (@ Exchange rate $1.32 dollars = 1 euro, quick google search).
**1979 in “About.com” (About the Chrysler bailout), quoting John Kenneth Galbraith (written BEFORE Congress passed an act bailing it out, with conditions):
Supporters of aid argue with passion that the U.S. cannot afford the failure of a company that is the nation’s tenth largest manufacturer, its biggest builder of military tanks and one of only three major domestic competitors in its supremely important automotive industry
Economist John Kenneth Galbraith suggested that taxpayers be “accorded an appropriate equity or ownership position” for the loan. “This is thought a reasonable claim by people who are putting up capital.”
How can I prove my worth, retain my job (or move to a better one) and balance ALL my family’s needs (if there is one), including: housing, transportation, saving for education of young, child care if necessary, and keeping my kids out of drugs and away from gangbangers, etc.Also, (easier said than done)– how much of my personal integrity do I have to compromise to stay in my job? How much of my wages (if that applies) are now, or will be in a flash, garnished for child support of my ex? How much time off work do I need to handle family court cases when my ex wants custody? Or suppose, NONE OF THE ABOVE, but my co-worker’s ex is pissed off, and has a gun and bulletproof vests (applicable in particular, it seems, for beauty salons).
(that was a reference to an “event” in a divorce action):
Family and friends of the eight people who were shot to death at Salon Meritage in October crowd the courtroom but remain quiet during the hearing. Scott Dekraai, the suspect in the killings, does not look at the crowd.
January 19, 2012|By Hailey Branson-Potts, Los Angeles Times
Scott Dekraai is flanked by his public defenders during his arraignment… (Don Bartletti / Los Angeles…)
The man accused in the largest mass murder in Orange County [Southern Califonia] history pleaded not guilty Wednesday to shooting and killing eight people at a Seal Beach beauty salon, including his ex-wife.
Scott Evans Dekraai, wearing a mustard-yellow jumpsuit, his hands handcuffed in front of him, said nothing during his brief arraignment before a courtroom crowded with emotional family and friends of the victims of the Oct. 12 shooting spree at Salon Meritage.
Prosecutors are seeking the death penalty for Dekraai, who was indicted by a grand jury Tuesday on eight counts of murder with special circumstances and one felony count of attempted murder.
Dekraai is accused of entering the salon wearing a bulletproof vest under his clothing and carrying multiple guns.
Dekraai’s ex-wife, Michelle Fournier, worked in the salon, and Dekraai allegedly shot her before turning to other salon customers and employees and opening fire.
Court records show Dekraai and Fournier had been in a bitter custody battle over their 8-year-old son.
There are I bet few neighborhoods where incidents, of not of this magnitude, of similar character, have not happened. I found it personally very hard to handle going through my own difficulties (during and after the marriage) — while all around me, women, and sometimes men, and sometimes children, were at a certain level, dropping like flies, or disappearing on overnight court-ordered custody exchanges.
While I myself didn’t disappear on such a change, for all intents and purposes, one time, both my children did — and issue which was never resolved legally. The situation simply “timed out” and the vacuum still exists where they were. I used to write expressively about it, but now, no longer can… I feel that continuing to “feel” in that place would result into turning into some sort of zombie — so I write like this, and seek to alter the landscape, for my kids (and other kids’ and their parents’) sake. I was working at this time — had business relationships, clients, friends, and associates — many were families with small children. I had to drop out of that situation and go into crisis // damage control mode, and it did affect the immediate community. These are also public costs (courthouse expenses).
The same weekend my kids went “MIA” (though we all knew who had them) another mother and woman in California also went “MIA” in a high-profile case– and unfortunately she was later found in a shallow grave not far from the place of “co-parenting” custody exchange. The murderer pled-down the charge for telling the authorities where he buried her. Here are some of his excuses which, thankfully, didn’t get him out of a jail sentence:
Reiser recited a litany of maladies he said his wife had, including a chemical imbalance caused by an increase in oxytocin and Munchausen by proxy syndrome, in which a parent makes up illnesses in children in order to gain sympathy from others. He also compared himself to Moses killing a slave master and hiding the body in the sand.
Authorities have said there was no evidence Nina Reiser had the disorder or had abused her children.
Smith [Jury foreman] said Reiser did little to garner sympathy from jurors, especially the women on the panel who “quite frankly were like, ‘Screw you,’ ” as Reiser made clear his hatred for his wife.
There are solid reasons some are wealthy and others are poor; among the reasons are different behaviors of the wealthy, some of them picked up from their upbringing (including schooling).
Another reason some are poor includes that the wealthy want it that way and through influence on government (and the corporate models available) are adept at stacking the decks (picking winners and losers, historically) — and also making “deals” that are not good deals for the common people who simply “work.” Like auto, bank, savings and loan, or any other type of “bailout.”
So, we must ask the right questions for our time (2013) — not for the industrial age. Ask the right questions for an entrepreneur or investor, even if you have the ability and job title of a fantastic employee.
Make a decision to sort (accurately, but quickly) and label (accurately, but quickly) information that deluges your mind and thinking (and/or tune out the static) and come, habitually (accurately, but quickly) to a good business decisions — for yourself — on what to do with that
And if the decision* was “invalid” or “trash” or “unprofitable,” then you don’t hang out in that mental neighborhood, unless there is good cause.
(Your gut also knows this; and over time that gut will be a very fine indicator — but not without some of the self-discipline, motivated by a goal or personalized mission, preceding it. I believe that if we have had honorable and intrinsically good conscience and purpose in life (destroying others, waging wars, and sending their kids into the street, or into orphanages, not being one of them), that gut instinct for life, will work for, and not against us — individually, and from their socially. It will show what’s commonsense in a given situation. It may not always be socially “reasonable,” and many times isn’t.).
OK, let’s go over this again — I saw just ONE company — Daimler — and learned something from its positioning right now. Here’s how it handled Chrysler, which situation has helped Michigan, as a state, become renowned for Detroit as a byword for a rough place to be in.
They are reduced (or simply chose), for financial success, to sending SWAT teams into single mothers’ homes to extract disabled children in order to drug them, in an attempt to get more kids to serves as live subject matter for the pharmaceutical industry — of course that’s a reference to the MaryAnn Godboldo case. Clearly something is really out of whack up there.
This 2010 article (I searched “Car wars // Detroit”) says, that after about three decades of the Japanese “chewing through the US markets like termites (Toyota, Honda, Nissan),” it’s replacement timing is down to the “industry average” while the Europeans are focusing on the higher-end vehicles. Even so, Chrysler (now owned by Fiat — see below) is below industry average, but might get a little pizazz if the Italians have anything to do with it.
I brought up Detroit because Chrysler comes from Michigan.. There was a DaimlerChrysler for a while….
This 2011 blog article in “The Economist,” a British magazine I think” “Urban Economics: No Dawn for Detroit“
Feb 2nd 2011, 21:35 by R.A. | WASHINGTON
ECONOMISTS have been reading Detroit its last rites for years now. In 2007, economists Ed Glaeser and Giacomo Ponzetto explained how changes in technology destroyed the city’s business model, based on the returns to industrial agglomeration. In remarks made while in Stockholm accepting his Nobel prize for work on (among other things) economic geography, Paul Krugman declared that the carmaker bail-out was at best a temporary salve, and that Detroit’s car industry was doomed.
== (it then points out to decreasing unemployment in various auto sectors, by city) ====
How wrong could the economists be? There’s just one, little problem. Here’s total employment for the Detroit metro area over the past decade:
The long decline continues. Well, then why has Detroit’s unemployment rate fallen so much? Part of the reason is that the household survey, used to compute the unemployment rate, shows a better employment performance for Detroit over the past year. But the other part of the story is a steady, dramatic decline in the labour force. Since 2007, about 100,000 workers have left the Detroit labour force. And despite the real improvement in the economic outlook over the past few months, the bleeding goes on.
What points should we take away from this performance? Well, it may or may not have been a good idea to step in and rescue the carmakers, but the critics who pointed out that it would not save Detroit were right. This should have been obvious at the time, given that it was widely agreed that putting carmakers on a firmer footing would involve drastic cuts to their labour forces and rationalisation of production facilities.
A second point follows from this: however strongly America’s manufacturing sector rebounds from the crisis and benefits from global rebalancing, it’s unreasonable to think that rising manufacturing employment can do much to absorb labour market slack. Manufacturing has only grown less labour-intensive over time, and the truly labour-intensive industrial jobs will seek out markets abroad where labour costs are far cheaper than in America. Just as economists pointed out before and during the crisis.
It would be too early to write off the Detroit area entirely. As you can see, nearly 1.7m people continue to work in the area. But if Detroit is to thrive again, it will have to discover new and growing industries that depend for their success on the kinds of benefits firms now derive from urban proximity.
That link to “the kinds of benefits” is to another (October 2010) article (by a Harvard Economics Professor, go figure….) called:
The Information Economy Powers Wage Increases
Yes, the wonder county of 2009 appears to have been New York County, that is, the borough of Manhattan, wherewagesgrew by a stunning 11.9 percent, according to theBureau of Labor Statistics. National wages rose only by an anemic 0.8 percent, and only 19 areas had wage growth above 3 percent.
Most counties detailed by the bureau showed wage declines over the year. The biggest loser was San Mateo County, in California, where wages dropped by 17.7 percent. While California’s unemployment rateremains at 12.4 percent, the idea-intensive economy around San Francisco Bay, like Manhattan, appears to be holding up quite well.
This matches a post-1990 pattern in which the incomes of initially richer areas have risen more quickly.
As a result, the earnings gap between the nation and either Manhattan or Santa Clara County has become enormous…
Far from knocking New Yorkers down, the recession seems to have made them more prosperous, on average.
The bad news is that more money has been earned by fewer people. The rise in the incomes of these coastal cities has not been accompanied by increases in the number of employed people. Employment in Manhattan dropped by 1.7 percent over the year and employment in San Francisco fell by 3.1 percent. …
Another source of worry is that the rise in earnings was led by New York City finance, whichexperienced a whopping 22.7 percent increase in weekly earnings from 2009 to 2010.
Many of us hoped that the recession would provide an opportunity for New York to become a little less reliant on its dominant industry, but that doesn’t seem to have happened.
These wage gains are only the latest bit of evidence confirming that America’s economic future depends on its information-intensive cities. Our country is never going to be able to compete with Asia as a producer of ordinary manufactured goods. If the products are old, then they will be produced where costs are lowest. Our economic eminence depends on continually coming up with new ideas in software, biotechnology and finance.
A second implication is that America’s future depends on its schools. This recession has also emphasized the enormous handicaps facing less-skilled Americans.
Seriously — the Auto Industry is a Big Deal. So here’s what happened to Chrysler, as I said, it was auctioned off, more than once:
Interesting how that plays out on a large stage…
All those companies — who are not nonprofits themselves —
Why then would they be so fascinated with donating to a single nonprofit — out of altruism?
. . . .and which one was it?
Before answering that question, which I may or may not get around to, apart from all of the above being active links (hopefully) taken from said nonprofit’s website, which calls these companies “Corporate Fellows,” let’s take a look at the basic industries they are in which I project will be split unevenly towards those near the top of the world’s greatest owners of global infrastructure, per Bentley, which knows this because it markets software systems (or was it, consulting on software systems?) to support the same infrastructure (bridges, roads, dams, power stations, etc.)
If you filed each of the companies under one (or more) columns of the following table, how many basic areas of life would this be covering? Which field predominates?
Why would all these companies want to be “Corporate Fellows” (buying friendship?) of a certain nonprofit? What’s in it for them?
Several of these firms are well-known. Many are not.
In the next few posts, I’ll be looking at some of them, including how (and in what fields) they made their impact on the world, whether they are private (privately owned) or public (stocks traded in public offerings), and more.
I will also be comparing how these firms made their millions (or in some cases, billions) and whether it was by the same means they are advising Americans to eradicate poverty, or lift themselves up by the bootstraps through a solid work ethic — or not.
I have been doing this personally throughout the blog anyway — because looking at the wealthy of this country (particularly those involved in funding major philanthropic foundations) became wealthy, when they weren’t “born with a silver spoon” or associated with those who were — it involves a different set of values, and business sense than those that the rest of us are indoctrinated to have — through our public school systems, “welfare-to-work” programs, and “workforce boards” which also, as it turns out, tend to become heavily involved with the HHS grants system to make sure there’s an abundant supply of workers.
Hopefully this will provide another window into public policy and who sets it.
With the idea of changing the dynamic of who sets it, obviously….