| Mergeroids! | For more information |
|
Global corporations are merging at a frenzied pace, each hoping to dominate the world markets in their industry. The larger corporations push out smaller, local businesses which have roots in the communities they operate in, replacing them with centrally controlled, unaccountable operations around the world. Mergers are often accompanied by excitement in the media and Wall Street, yet result in closed factories and layoffs, and contrary to the original hype, financial difficulties for an extended time. In order to return to profitibility, the merged corporation must crush the competition (if it wasn't the competition that the company originally merged with), eliminate high-paying jobs in favor of low-cost labor, skirt environmental and social obligations, and maximize corporate welfare. |
1998 saw the mergers of Citicorp and Travelers Group, Netscape and AOL, Chrysler and Daimler, Exxon and Mobil. In 1999, CBS merged with Viacom, and MCI merged with Sprint. With the rollback of the Glass-Steagall Act, more mergers are expected in the banking and insurance industries. Other sites For more information about corporate accountability in general, try the following sites: Corporate Watch and especially, their globalization resources STARC (STudent Alliance to Reform Corporations) |
| How to Play | |
|
|
| Merger Madness | |
|
To help you keep track of the wave of corporate mergers, we've set up a merger tournament among some of the biggest companies in the country. Since starting the tournament in early 1998, seven pairs of companies in the tournament have merged, and many others have merged with companies outside the tournament. Make your prediction of which one will be the last, biggest company, and see who everyone else has picked!
|
