The Rising Influence of Rising Affluence

[Kadaicher1]

Charlie, I should have read your reply first. All very good points. You are correct about being foreign not giving them protection from the FCPA. Eight of the top 10 fines were foreign companies.
http://www.fcpablog.com/blog/2011/1/5/recent-cases-foreign-companies-dominate-new-top-ten.html

Most of these fines are for bribes in third world countries. I was recently talking to an Argentinian socialist who told me big American companies corrupt their politicians. He was shocked when I pointed out how the FCPA works and the fines. That it was the USA leading the world in this area. He was uncomfortable having to admit that the USA was the good guy in this. I guess the message hasnt got out in the third world with the usual press bias.

The current top ten are:

1. Siemens (Germany): $800 million in 2008.

2. KBR / Halliburton (USA): $579 million in 2009.

3. BAE (UK): $400 million in 2010.

4. Snamprogetti Netherlands B.V. / ENI S.p.A (Holland/Italy): $365 million in 2010.

5. Technip S.A. (France): $338 million in 2010.

6. Daimler AG (Germany): $185 million in 2010.

7. Alcatel-Lucent (France): $137 million in 2010.

8. Panalpina (Switzerland): $81.8 million in 2010.

9. ABB Ltd (Switzerland): $58.3 million in 2010.

10. Pride (USA): $56.1 million in 2010.

Just six months ago, the top-ten list included four older cases -- all involving U.S. companies -- that have now dropped off. They were Baker Hughes from 2007, Willbros from 2008, Chevron from 2007, and Titan Corporation from a distant 2005.