Posts Tagged ‘Odebrecht’

Brazil’s Odebrecht accused of slave labor

Monday, June 23rd, 2014

The folks building the deepwater port in the island-prison are being charged with slave labor:
Prosecutors in Brazil have begun legal action against a leading construction company, Odebrecht, accusing it of maintaining 500 Brazilian workers in “slave-like conditions” in Angola, (yet another blighted land where Fidel and Che failed)

Prosecutors say Odebrecht committed “human trafficking” while transporting workers to a biofuel plant.

They are demanding 500m reais ($220m; £130m) in compensation for workers.

Odebrecht, which made out like gangbusters from its World Cup contracts, is one of the biggest contributors to Rousseff’s Worker’s Party, has 21 projects in Venezuela, where Alek Boyd notes Lula and Dilma intervened on Odebrecht’s behalf.

Carlos Eire points out,

Twenty-first century slavery and twenty-first socialism are two sides of the same coin.

Every now and then, someone wakes up to this fact.

In the meantime, the Brazilian slave conglomerate of Odebrecht continues to prosper and grow.

Their deal for slave labor at the Castrogonian port of Mariel didn’t stop officials in South Florida from striking deals with them. Neither has Odebrecht’s latest deal for a sugar mill in Cienfuegos, Castrogonia, which will also employ slave labor.

And asks,

Will a lawsuit against them in Brazil slow them down or stop them?

Take-away question: And why does Cuba need a deepwater port just now? Apparently it is “for larger ships passing through an expanded Panama Canal.” In which case, why would the so-called embargo make any difference?

Brazil: Who made out from the #WorldCup money?

Tuesday, June 10th, 2014

The 2014 World Cup

is the most valuable, lucrative and expensive in FIFA history.

Record numbers include a $35 million prize to the winning team’s federation, $4 billion commercial revenue for FIFA and a $14 billion bill for Brazil.

And

As street protesters in Brazil know, FIFA’s revenue is untaxed there. World Cup sponsors and media also receive exemptions for their operations as a condition of Brazil’s hosting bid in 2007.

FIFA, however, has spent significantly in Brazil.

FIFA already gave $221.6 million to the embattled organizing committee, and more should follow in last-minute wrangling over paying for essential services.

Odebrecht’s certainly making out like gangbusters:
Brazilian Builder Odebrecht Emerges as World Cup Winner

Odebrecht is helping erect or expand four World Cup stadiums, financed with 1.5 billion reais ($447 million) in subsidized loans from Brazil’s state development bank. The company is one of the biggest contributors to Rousseff’s worker’s party, a relationship not lost on people critical of the World Cup’s cost to taxpayers.

Hmmm . . . Brazil, Inc.,

“Brazil has a lot of state-owned companies and big private firms with strong ties to governments in what I like to call Brazil Inc.,” said Peter Lannigan, managing director at broker-dealer CRT Capital Group LLC. . . .
Campaign donations from five Odebrecht units grew to 37.9 million reais in 2012, from 8.1 million in 2002, according to the electoral tribunal. Odebrecht’s building unit gave 6 million reais to the worker’s party in 2013, as incumbent Rousseff, a former guerrilla who was tortured by the military regime, seeks re-election. Units of World Cup stadium builders OAS SA, Queiroz Galvao SA and UTC Enghenaria SA also ranked among the top 10 contributors

Meanwhile,Stadium hosting World Cup opener between Brazil and Croatia would NOT pass UK safety test
Arena de Sao Paulo will host Brazil vs Croatia World Cup opener without a test taking place that would meet UK legislation
Junior game was held in the stadium but 20,000 were left empty
The Sao Paulo stadium has a capacity of 61,000
FIFA state the arena has passed four different tests at various stages
Two people were killed by a crane during the construction of the arena

Related: The Billion-Dollar Business Of The World Cup


Panama: Chong Chon Gang goes back to Cuba, captain goes to jail, garage sale coming up

Saturday, February 15th, 2014

The North Korean rust bucket returns to Cuba:
N Korean ship seized with Cuban weapons returns to Cuba

The Panama Canal Authority recently said the ship could leave, after Pyongyang paid a nearly $700,000 (£425,000) fine.

The ship was seized seven months ago with Soviet-era weapons and fighter jets hidden under sacks of sugar.

Three members of the crew stayed behind to face arms trafficking charges.

The captain, the first officer and the political officer of the Chong Chon Gang face sentences of up to 12 years.

Panama will be having a garage sale,

Panamanian officials quoted by Reuters news agency said the arms would likely be sold or given away and the sugar sold to companies interested in turning it into ethanol.

Related:
Odebrecht’s Cuba Port at Center of Illegal Weapons Smuggling

The ship’s automatic identification system was turned off to hide its stop at the Port of Mariel. Moreover, while the logs showed multiple ports of call, they omitted the Mariel stop.

This is the same Mariel port that the Brazilian conglomerate, Odebrecht, has been expanding (since 2011) in partnership with Castro’s military.

In other words, this Cuba-North Korea weapons transfer occurred right under Odebrecht’s nose (at best).

Why? Perhaps because in addition to the port, Brazilian construction and infrastructure giant Odebrecht is planning to build a plastics plant in Cuba

BNDES: Brazil’s really big bank

Monday, December 16th, 2013

Juan Forero reports on BNDES, the Brazilian Development Bank, A bank that may be too big for Brazil.
BNDES:

  • has loaned a third of a trillion dollars since 2010, twice the amount the World Bank provided to about 100 countries combined
  • According to critics, most of the money goes to the country’s richest and most politically connected companies, among them JBS (the largest contributor to Dilma Rousseff’s campaign), construction giant Odebrecht, and now-broke Eike Batista’s EBX Group (which received $4 billion in loans).
  • Treasury funds and payroll tax revenue are used for loans.
  • In exchange for loans, BNDES has acquired a minority stake in dozens of private companies, giving the bank’s executives a say in their operations.

For all practical purposes, BNDS is acting as an investment bank, not a public institution focused on fostering social development, while maintaining its lack of transparency,

But analysts say there is another downside to BNDES’s big spending: It fans inflation, which has remained stubbornly high at just under 6 percent a year.

To keep it under control, the Central Bank on Nov. 27 raised its benchmark rate to 10 percent. Such a high interest rate — the highest of any developed country — is believed to crowd out the development of private lenders.

What could possibly go wrong?