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I was following up a link regarding Rumsfeld and his appt. to the board

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Bullwinkle925 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:09 AM
Original message
I was following up a link regarding Rumsfeld and his appt. to the board
of ABB (European engineering firm) purported to have sold equipment to N. Korea when I noticed the language that the company's news release is not to be made available in the USA?? WTF?:





ABB AB annual shareholders meeting
This press release was issued by ABB AB, Vsters, Sweden, following their Annual General Meeting for fiscal 1998
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
ABB AB shareholders support creation of single ABB share

On Thursday March 18, 1999, the Annual General Meeting of shareholders of ABB AB for fiscal year 1998 was held in Vsters, Sweden. More than 900 shareholders, representing 43.11 percent of the share capital and 46.38 per cent of the voting rights, participated in the Annual General Meeting.

The Annual General Meeting supported the creation of a single ABB share. The shareholders in ABB AB and ABB AG will be invited to exchange their existing shares for new shares in ABB Ltd, the new holding company of the Group. The exchange offer is expected to start after March 26 1999 and concluded by the end of June 1999.

The Annual General Meeting approved the proposed cash dividend of SEK 2.18 per share (1997: SEK 2.10). The record date for payment of the dividend is Thursday, April 1, 1999 and the dividend will be distributed from VPC (The Swedish Securities Register Center) on Monday, April 12, 1999.

Percy Barnevik, Sweden, Donald H. Rumsfeld, U.S.A. and Peter D. Sutherland, Ireland, were re-elected as members of the Board of Directors. Bjrn Svedberg decided not to stand for re-election. Mr. Jacob Wallenberg, Sweden, was elected as a member of the Board. At the statutory meeting of the Board after the Annual General Meeting, Percy Barnevik was elected as Chairman.

Shareholders approved the proposal that the above-mentioned Board Members of ABB AB be elected to the Board of Directors of ABB Asea Brown Boveri Ltd along with the proposed members of the Board of Directors of ABB AG, namely Dr. Gerhard Cromme, Jrgen Dormann, Robert A. Jeker, and Edwin Somm as well as Yotaro Kobayashi, Agostino Rocca, Martin Ebner and Gran Lindahl.

Mr. Gunnar Widhagen and Mr. Carl-Gustaf Gutberg, both Authorized Public Accountants, were re-elected as Auditors and Mr. Torbjrn Hanson and Mr. Jan Birgersson, both Authorized Public Accountants, were re-elected as Deputy Auditors.

A complete report from ABB AB's Annual General Meeting will be available from the beginning of May 1999. The interim report of ABB AB for the first quarter of 1999 will be issued on Wednesday, April 21, 1999.

THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSESSIONS. SECURITIES OF ABB LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE LAWS OF ANY STATE, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS.




Last edited 2000-02-28
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Provider information/Impressum Copyright 2006 ABB. Privacy policy SEARCH
CONTACT US
Pia Irell
ABB AB
Investor relations
Phone +46 21 325 928
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:11 AM
Response to Original message
1. So, do we have to kill you now?
:shrug:
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Bullwinkle925 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:13 AM
Response to Reply #1
2. Guess so.
Of course - I suppose they didn't recognize the power of Google and 'the internets', did they?
:hi:
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:20 AM
Response to Original message
3. You know, I remember something about this company being
in legal trouble for some kind of fraud -- accounting fraud or something? In the 2002-03 range? Gonna go look.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:44 AM
Response to Reply #3
4. Not what I'm looking for but here's ABB's little asbestos problem:
January 9, 2004 - 12:50 PM
US court further delays ABB asbestos hearingAdd story to my swissinfo panel

A United States appeals court has again delayed a hearing on a $1.2 billion (SFr1.48 billion) asbestos settlement involving the Swiss-Swedish engineering firm, ABB.

But the Zurich-based group said that the change in the scheduled date of February 4 was of no significance for the outcome of the hearing.



ABB added that it was confident that the Pennsylvania-based Third Circuit Court of Appeals would accept its settlement at a date to be determined.

The asbestos settlement in the US centres on ABBs bankrupt Combustion Engineering unit, which made industrial boilers insulated with asbestos material.

http://www.swissinfo.org/eng/swissinfo.html?siteSect=10...
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:48 AM
Response to Original message
5. Ha! ABB VETCO GRAY, INC. AND ABB VETCO GRAY UK LTD. PLEAD GUILTY
Edited on Thu Oct-12-06 12:48 AM by sfexpat2000
ABB VETCO GRAY, INC. AND ABB VETCO GRAY UK LTD. PLEAD GUILTY TO FOREIGN BRIBERY CHARGES

WASHINGTON, D.C. - Assistant Attorney General Christopher A. Wray of the Criminal Division announced today that ABB Vetco Gray Inc. and ABB Vetco Gray UK Ltd., the United States and United Kingdom subsidiaries of Swiss company ABB Ltd., have pleaded guilty to a criminal information charging each of the two companies with two counts of bribery in violation of the Foreign Corrupt Practices Act.

Both companies entered their pleas this morning, at a hearing before Judge Vanessa Gilmore at the U.S. District Court for the Southern District of Texas in Houston.

ABB Vetco Gray is a U.S. company based in Houston, Texas and is the headquarters for Vetco Grays Western Hemisphere operations. ABB Vetco Gray UK Ltd. is based in Aberdeen, Scotland and is headquarters for Vetco Grays Eastern Hemisphere operations.

http://www.usdoj.gov/opa/pr/2004/July/04_crm_465.htm

IIRC, there were charges pending in Europe as well and then, WHOOOOOOOOOOOSH, nothing.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 12:51 AM
Response to Original message
6. Yikes. Dif case: ABB sacks managers over hidden losses
Swiss-Swedish engineering group ABB has fired "a handful" of managers who had tried to hide losses, spokesman Thomas Schmidt told BBC News Online.

The group says the activities were limited to its London offices, the amount of money involved was small and its financial figures did not need to be changed.

However, the mere fact that accounts have been fiddled in one of ABB's units could well spook investors who may be concerned about the conduct of the rest of the company.

http://news.bbc.co.uk/1/hi/business/2117372.stm

I bet cleaning this sewer could be a career. Amazing.
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DeSwiss Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 02:54 AM
Response to Reply #6
7. All that sounds about right.....
....for a company Rumsfeld would belong to. Getting people killed (with asbestos instead of ammo), bribing government officials (lessons learned from Nixon, no doubt) and a company that lies with accounting (ala' Halliburton). Yep, you got it.

After Nixon, he really went up in the world didn't he???



http://www.whitehouse.org/news/2006/100606.asp
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-12-06 07:07 AM
Response to Reply #7
8. Yes, he's been perfecting his act for a long, long time.
The old felon.
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