Siemens Decides to Abandon Nuclear Power

[bananas]

http://www.bloomberg.com/news/2011-05-22/siemens-decides-to-abandon-nuclear-power-handelsblatt-reports.html

Siemens Decides to Abandon Nuclear Power, Handelsblatt Reports
By Sheenagh Matthews - Sun May 22 18:13:49 GMT 2011

Siemens AG (SIE) has decided to abandon nuclear power after the reactor accident in Japan’s Fukushima plant damaged market potential, Handelsblatt said, citing unidentified people close to the company.

Siemens, which originally planned to become the market leader in atomic power along with Russia’s Rosatom Corp., is struggling with its about-face as snubbing its partner may lead to negative effects on the company’s business in Russia, the newspaper said.

[Kolesar]

1. Siemens routinely bribed officials in small countries to win bids for power and telecom projects

Their budget for bribes was $40 million to $60 million

"At Siemens, Bribery Was Just a Line Item"
http://www.nytimes.com/2008/12/21/business/worldbusiness/21siemens.html

[bananas]

2. They're not the only ones: "Former China nuclear head jailed for life over bribes"

I replied that "Areva is just the one that got caught"
and someone else replied: "Having done business in china..." http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4621530&mesg_id=4621712

[FBaggins]

3. "Cumshaw" does originate from dealings with China.

The East India company couldn't trade in China at all without "tipping" the apropriate people.

[kristopher]

4. Who cares? Bidding corruption doesn't affect construction or materials quality.

But even if it did and there were dozens of meltdowns, it wouldn't matter because almost no one has ever died from civilian nuclear power accidents.

:sarcasm: of course. I was channeling the ghost of a random employee of the nuclear industry...

[kristopher]

5. kick