Word: abbes
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...scared off by looming lawsuits. Will Executive Bonuses Be Next? Marking a victory for anticorruption campaigners, 18 of the world's top construction and engineering firms have agreed to stop paying bribes to win contracts. At the Davos World Economic Forum, the firms - including Hochtief of Germany, Swiss-based ABB and Skanska of Sweden - unveiled a set of principles aimed at eliminating bribery, contending that businesses themselves are hurt by rampant payoffs because they distort competition. "There is significant corruption in the industry," Alan Boeckmann, chief executive of U.S. construction giant Fluor, tells TIME. Some big players, including Bechtel...
Blackout Profits For ABB...
...lights went out in lots of places during the blackout of 2003, but they were burning brightly in Zurich, home of engineering giant ABB. The company expects to earn up to $2 billion as the U.S. reinvests in its glitchy power grid. ABB claims more than 60% of the market for the electric-transmission and -distribution equipment that needs renovation or replacement. "This isn't going to happen overnight," says Randy Schrieber, vice president of ABB's U.S. Power Technologies division. "But the impetus that the utility companies have shown from the blackout bodes well for us." This promising news...
...photography, and the man who defined "the decisive moment" - the instant when an image should be captured - professes his famous indifference. Truth be told, Cartier-Bresson has returned to his trademark Leica cameras for a couple of assignments - his 1994 portrait of France's beloved priest of the poor Abbé Pierre is in the retrospective - but he essentially retired from his peripatetic photographic career nearly 30 years ago. He stopped, he said, when a longtime mentor, the Greek-born critic and art publisher Teriade, told him that he had gone as far as he could go in photography...
Trouble with investments in Ericsson, ABB and technology firms has resulted in huge market losses in the past year for this family's industrial holding company, based in STOCKHOLM, SWEDEN...