Your daily corporate crime news

Unocal blinks

Unocal Corp. said Monday that it would settle landmark human rights lawsuits brought by 15 villagers from Myanmar who claimed it was responsible for forced labor, rapes and a murder allegedly committed by soldiers along the route of a natural gas pipeline in the Southeast Asian nation.

Why, you ask, do the Bushies practically never speak about the grotesque human rights abuses in Myanmar? Could it be because US oil companies are happily doing business there?

The fix is in

Global Crossing Ltd. founder Gary Winnick will be absolved by federal regulators for his role at the company that made him one of the richest men in Los Angeles — and one of the most vilified executives in corporate America.

SEC Chairman William H. Donaldson joined two fellow commissioners in overruling the agency’s staff and deciding not to charge Winnick.

Winnick chose the Sergeant Schultz defense, “I know nothing.” Better to appear ignorant than culpable, eh, as this reduces the possibility of lawsuits. Winnick walks away with hundreds of millions while the former employees had their pensions and retirements destroyed. This is justice?

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