Word: scandal
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Dates: during 2000-2009
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...Given the political climate, European Union leaders on Sept. 17 vowed to take action on what French President Nicolas Sarkozy calls "the scandal" of bank bonuses. They agreed in Brussels to seek binding rules on the allocation of bonuses, sending a strong message to U.S. President Barack Obama and the G-20 leaders who are meeting in Pittsburgh, Pa., on Sept. 24 and 25 that they are serious about cracking down on profligate spending by financial institutions. (See pictures of the global financial crisis...
...milk strike," with farmers refusing to deliver to industrial conglomerates that produce cheese, skimmed milk and other products. The farmers' aim: to force the European Union to take action to combat plunging milk prices, which they say have left them in financial ruin. (Read "China's Poisoned-Milk Scandal: Is Sorry Enough...
...scandal forced the soft-drink giants to defend their products and outline social and environmental initiatives, like conserving water resources. Certainly, PepsiCo CEO Indra Nooyi, a native Indian, was not about to be pushed around by an NGO with an agenda. "If they came out of the tainted phase fast, it was because they were able to demonstrate a certain amount of sincerity and transparency," says Santosh Desai, CEO of New Delhi--based marketing consultants Future Brands. "Sales were affected in the short term, [but] they did a good job of reassuring consumers." Atul Singh, CEO of Coke India since...
After the safety scandal broke, Coke and Pepsi relied on small bottles and cut-rate prices to woo customers. The small packages boosted sales but hurt profitability for the companies and their bottlers. In 2005, Singh increased prices 40% to 60% and later introduced new packaging, like 1.25-liter bottles, which boosted in-home consumption. After a drop in sales in 2006, the Indian market began to grow again in 2007. "I can't complain," says S.B.P. Rammohan, owner of Sri Sarvaraya Sugars Ltd., a southern-India Coke bottler. "It's no longer volume at all costs...
There's never a good time for scandal, but the departure Sept. 16 of two bosses from the Renault Formula One team over allegations the team had instructed one of its drivers to deliberately crash in a race last year couldn't have come at a worse time for the sport. In the wake of a threatened walkout by teams fuming at new cost-cutting rules, public squabbling over Formula One's leadership and an episode of spying, the latest revelation could tar the image of motor sport's blue-ribbon event irreparably. The collision by Renault's Nelson Piquet...