Tuesday, June 26, 2007

BAE And Corruption

When is BAE going to shed this cloak of corruption it's adorned as a result of the Al-Yamamah deal with Saudi-Arabia? It will be a long time indeed before that C-word does not come to mind anytime BAE is mentioned. Some might even argue the company is tainted forever by the affair.

Not that the allegation has stopped BAE holding it's sway on and making tremendous inroads into the markets that matter, uniquely the American and Saudi markets . The manufacturing giant has a new deal known as Al Salaam to supply the Saudis with new 72 Eurofighter jets and just last week received approval from the Committee on foreign Investment in the United States for it's multi billion pound takeover of military ware manufaturer Amor Holdings.

The company has the government to thank for the pragmatic way it handled the investigation into the alleged payments to Prince Bandar bin Sultan to facilitate the Al Yamamah deal. One does not need a crystal ball to know that the investigation left to run its full course would have been gravely damaging to BAE in particular , British businesses and the British government in general.

It is however pertinent to ask at this juncture are there still such payments being made? Are there new safegurads to prevent a re-occurence ? Is the system more transparent now that any such `irregular`movement of funds would be too glaring and exposed for what it is?

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