Dirt Diggers Digest No. 47
January 13, 2004
Editor: Philip Mattera
1. Corporate-labor-enviro study group promotes global corporate disclosure
2. Alien Tort Claims Act case compilation
3. Transnationale offers thousands of critical company profiles
4. FreePint introduces not-so-free newsletters
5. Securities Class Action database offers free trials for new version
6. NASD proposes improvements in broker disclosure
7. Dirt Diggers Digest index now on the web
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1. Corporate-labor-enviro study group promotes global corporate disclosure
On January 12 the Washington Post ran an article highlighting the
recommendations of a study group of corporate, labor and environmental
officials on global corporate social responsibility. At the top of the list of
recommendations from the study group, convened by the Kenan Institute
of Private Enterprise, was greater transparency. The report recommends,
for example, that the SEC consider requiring firms to undertake "triple
bottom line" reporting as part of their annual filings. The report can be found at:
http://www.kenan-flagler.unc.edu/assets/documents/KI_WC_Globalreport.pdf.
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2. Alien Tort Claims Act case compilation
Last week's edition of NOW with Bill Moyers on PBS included an
excellent segment on the use of the Alien Tort Claims Act (ATCA)
to pressure U.S.-based multinationals to end their complicity in
human rights violations abroad. It should also be noted that the
NOW website <http://www.pbs.org/now/> has useful resources on
the subject, including a compliation of ATCA cases by USA*Engage:
http://www.usaengage.org/legislative/2003/alientort/alientorttpcases.html.
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3. Transnationale offers thousands of critical company profiles
A Dirt Diggers subscriber suggested that we write about Transnationale,
a website that is not new (it's been around for several years) but is a
a valuable source of information on multinational corporations. The site
<www.transnationale.org> contains features such as links to company
news and an index of brand names, but perhaps most valuable are the
thousands of company profiles, which are available only by subscription
(the annual cost is 150 euros, with reduced rates for non-profits). The
profiles include basic data such as financial results, market shares and
largest shareholders as well as info on social areas such as labor
practices, environment, human rights and regulatory compliance.
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4. FreePint introduces not-so-free newsletters
FreePint <http://www.freepint.com/>, the UK-based business researchers'
network that publishes a free monthly newsletter, is now going after the
premium market as well. FreePint has just introduced two subscription
newsletters: VIP (a monthly with information-product news and reviews)
and VIP Eye (a twice-monthly covering business information news
announcements). Together they will cost 245 pounds (or $448) a year,
but the inaugural issue of VIP, which includes a comparison of European
company data services, can be accessed for free at http://www.vivavip.com/.
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5. Securities Class Action database offers free trials for new version
Institutional Shareholder Services recently released a new version of its
Securities Class Action database, which tracks case filings and settlements
<http://www.issproxy.com/institutional/analytics/scas/index.asp>. To mark
this event, ISS announced this week that it is offering free trial subscriptions
to the service. For details, see
http://slw.issproxy.com/securities_litigation_blo/2004/01/scas_database.html.
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6. NASD proposes improvements in broker disclosure
NASD (formerly the National Association of Security Dealers) recently
announced two proposals to improve the content and delivery of public
information about the background and conduct of securities brokers. The
first proposal, which was filed with the SEC, provides for disclosure of all
customer complaints and settlements if a broker has three or more of these
incidents or regulatory actions, including one during the last ten years.
Disclosure is currently limited to settlements above $10,000 and complaints
filed during the past 24 months. The other proposal would provide for electronic
delivery of BrokerCheck reports. The changes are described in a press release
at http://www.nasdr.com/news/pr2003/release_03_057.html.
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7. Dirt Diggers Digest index now on the web
The Dirt Diggers Digest is finally making its presence felt on the web.
Your editor has compiled a cumulative list of all the information sources
mentioned in the Digest since its inception in April 2002. The index can
be found at: http://www.corp-research.org/dirt_diggers_index.htm.
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Philip Mattera
Director of the Corporate Research Project
Good Jobs First