Multinational globalist corporations are getting ridiculously wealthy on this region of the globe that needs help as a result of the Tsunami. Many people's jobs have been exported to that region as a result of globalization. I think it is more than a little ironic that now those same people are being pressured to contribute money to the relief effort knowing that much of the money will be taken by wealthy developers to continue the trend.

Yes, this is vague and many will not like the thought of it and want to personally attack me for posting it, so what, grow up.

I agree with you. However, corporations are legally bound not to waste shareholder's money (as I understand it - correct me if I'm wrong) so how can they contribute? The 'psychopath' that is a modern multinational cannot empathise, it is constructed that way.

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This is a very good point. I didn't expect an intelligent response to this post, thanks.

I do know that corporations do contribute but it makes sense that they would be limited in what they could do.

Exxon-Mobil is one of the biggest corporate contributors, to the tune of 5 million bux.

It's understandable, since they own the LNG production in Sumatra. However what is not often disclosed is they spend considerably more than 5 million employing the Malaysian military to keep the population in check, with more than enough allegations of rape, torture and murder against the local people. Perhaps Exxon-Mobil will become the next defendant successfully sued in the US, after UnoCal in Burma.

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You hear michael schumacher gave 10 million dollars to the tsunami relief fund....the Formula 1 racer.

True he is wealthy beyond belief.......but thats still a LOT of money.

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It is also interesting to me that domestic capital investment is small compared to overseas investment and the media really lays on the guilt trip for donations for that area when there are so many problems here that get no airtime.

Yea, it is a stretch, but you can make it if you want to.

I know, for example, that Amgen, the international drug company, gave $1 million plus agreeing to 100% matching of all employee contributions. Kaiser Permanete, an HMO (though not a multinational corp.) also gave $1 million. I am sure there are more. These are merely ones that have come to my attention.

Thanks,
Richard

http://news.ft.com/cms/s/f94c32b6-5f00-11d9-8cca-00000e2511c8.html

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Not throwing investor's money at things that are not part of their mission?

If I want to feel all warm and fuzzy, I'll decide on which charity I send my money--which I have done. I want my portfolio to stay on track--profit.

Rather than asking whether or not this or that entity has given money, I wonder how many of us have given money?

Exactly right.

Some pharmaceutical companies have made both financial and in-kind contributions, too. But that also is good for those companies who do a lot of international business. a CEO of one of them (I'm sorry I don't recall which) said they had several thousand employees in Indonesia, though none were affected by the quake and tsunami, the local company essentially petitioned corporate and corporate came through. That's appropriate for a company, I think. But I cannot think that a big company that has no interest in the region should feel any obligation to give.

But then it's not really 'giving', it's 'investing'. Corporations cannot really give, no strings, anonymously, can they? My understanding is that they are not allowed to do this, legally, because it does not serve shareholder's interests.

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I think you will see corporate contributions come later as inventory write-offs. Right now, all the aid organizations are asking for the thing they need the most in this situation, cash - and has been noted, businesses are not in business to give money away - they have to take care of their shareholders and employees first and foremost. They can be sued by the shareholders for using cash for non-business purposes. What corporations can do is donate old inventory, obsolete goods and overstocks, and get a tax benefit that helps the bottom line. I think you will see more of that as more of the concrete needs become known.

The rules for it is much, much stricter than for an individual. The way the IRS wants to see it work is that the rich take in money from corporate profits, so the IRS gets its cut. From there, the rich set up philantropic trusts to disburse the money as charity, from which they get tax advantages. Allowing corporations to distribute cash is something that could be rife with abuse. Phony charities could be used to launder corporate profits so income taxes can be avoided. The televangelists do it on a massive scale - hiding profits from their shysterism as elaborate "parsonages" as they put their families on the "non-profits" payroll and such. Just imagine what would happen if an army of corporate lawyers and accountants got a taste of that.

Computer networking equipment maker Cisco Systems and Microsoft have made charitable donations and posted links on their sites' front pages directing users to charities. Microsoft pledged $3.5 million in disaster relief -- $2 million in aid to relief groups and another $1.5 million it projects will result from matching employee donations, according to a company release. In similar fashion, Cisco is donating in excess of $3 million in "humanitarian and rebuilding efforts."

Amazon customers, meanwhile, have given the American Red Cross more than $14 million, according to Amazon's website, while Yahoo customers have brought in about $4.7 million for the charity through Yahoo's U.S. homepage.

Auction giant eBay is also playing a part in alleviating damage caused by the natural disaster. The company has donated an undisclosed amount to disaster relief and employees are encouraged to give funds that will be matched by eBay, company spokesman Chris Donlay said.

In addition, eBay's 125 million users have a chance to help out through the site's Giving Works program, which lets sellers donate a chosen percentage of their item's sale price to charity.

Some companies, like iPod PocketDock creator SendStation Systems and online cell phone ring tone store ZaptoPhone, are selling products with the proceeds going, in part or in whole, to helping tsunami victims. ZaptoPhone's site currently hawks four different Tsunami aid ring tones. Consumers can buy the Thai, Indian, Sri Lankan and Indonesian national anthems, each costing between $2 and $9. Proceeds will be donated to UNICEF's tsunami relief efforts, according to the site. ZaptoPhone did not return a call for comment.

SendStation Systems' site, meanwhile, promotes the company's contribution of $5 from the sale of each iPod PocketDock at its online store to charity until the end of January.

Not all tech companies' aid efforts have been concentrated online, however. Electronics retailer Best Buy is matching in-store customer contributions up to a $1 million total. The company started this matching effort Jan. 1, and by Jan. 3 had collected more than $87,000, company spokeswoman Dawn Bryant said.

Now I am pissed. Cisco has been the biggest turkey in my portfolio.