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TOTAL/PetroFina "Big Move" (r)



How about trying dialogue with the company instead of just insulting it 
from the sidelines? Also try not repeatedly to write stupid statements 
such as 'companies would much rather do business with dictators than with 
democratic governments'. Companies want do do long-term planning since 
the return on capital investment is calculated over many years. 
Dictatorships are inherently unstable and volatile and power can shift to 
different hands by a simple military coup with other officers gaining the 
upper hand. Well-established democracies are clearly more stable. Also 
companies wish to operate within an established legal framework so that 
their investments cannot just be appropriated i.e. they wish those in 
power to be subject to the law and not just able to make it up as they go 
along. Companies desire an independent judicial framework. Dictatorships 
clearly see themselves as above the law. For these reasons, responsible 
companies would much rather do business in countries with established 
democratic governments than with dictatorships.

Of course, there will always be a few rogue companies who will do 
business in an unethical way and be tempted to sacrifice principle 
and take higher risks by the promise of an exceptionally high return.

If you, dawn star, are prejudiced against all companies and the 
capitalist system in general for some political reason, you should say 
so. If you are not, I suggest you stop making irresponsible accusations 
about all companies (in previous postings) and stick to verifiable facts. 
How can anyone trust the facts about Total you claim to be accurate when 
at the same time you unjustifiably insult all companies?

I don't know your political motivations, but I at least respect the fact 
that you criticised trade with the Cuban dictatorship just as much as you 
criticise trade with the Burmese regime. I may not share your views but 
in this respect you are even-handed.


dawn star wrote:
> 
> so where do we go from here as Total expands through Belgium industrial
> territory to become even a bigger world energy giant? any comments?
> 
> TOTAL MAKES BIG MOVE
> 
> The London-based Financial Times business daily newspaper
> leads its December 1 front page with a top story in headlines
> "Total set for PetroFina takeover/ French oil group likely to announce
> move for Belgium rival" :
> 
> "Total, France's second-biggest oil group,
> is expected to announce this morning the takeover of PetroFina, the
> Belgian oil group, as the wave of mergers sweeping through
> the oil sector set to continue...The emergence of Total as bidder for
> PetroFina (sic), one of Belgium's biggest industrial companies, came as
> a surprise
> after recent speculation on Elf Aquitaine, the other big French oil
> company.In the past, Thierry Desmarest, Total's chairman,
> has been lukewarm towards takeovers and mergers, noting
> that Total has one of the fastest-growing production
> profiles in the industry. But analysts said a tie-up with
> PetroFina would strengthen its European downstream presence,
> as well as enhance its overall international exploration
> effort, especially in the North Sea...."
> 
> "Total is expected to announce a share-swap deal for PetroFina
> stakes held by Baron Albert Frere -- the secretive Belgian financier
> who controls 30 percent of PetroFina -- and by Belgian energy
> group Tractebel...It is also likely to leave Mr. Frere as one of the
> largest
> single shareholders of Total, a position he already holds in another
> French company, multi-utility group Suez Lyonnaise des Eaux."
> 
> extracts reprinted from FT by dawn star
> EuroBurmaNet
> Worldwide Total Boycott
> euroburma.com