On October 10 an Italian judge found former Finmeccanica CEO Giuseppe Orsi and former AgustaWestland CEO Bruno Spagnolini not guilty of international corruption, but convicted the pair for the lesser crime of “false invoicing” and sentenced them to two-year prison terms and fined each €1.5 million. The sentence is suspended pending an anticipated appeal.
Universal Weather and Aviation (Booth 363) announced here that it has started working with anti-bribery consultancy Trace to help mitigate its clients’ risk of bribery and corruption violations.
A refreshing perspective on the European Union’s Emissions Trading Scheme went largely unnoticed last week, when organizers of a conference call to discuss a new study commissioned by the German Marshall Fund of the United States canceled the event due to a lack of registrants.
Multinational pressure group Transparency International has published a study claiming that two-thirds of the world’s biggest defense companies “do not provide enough public evidence about how they fight corruption.” The group says that its Defense Companies Anti-Corruption Index studied the 129 biggest defense companies worldwide with a combined revenue of over $500 billion. Transparency International estimates the global cost of corruption in the defense sector to be at least $20 billion per year, based on data from the World Bank and SIPRI.
As part of what they called their duty to the American people, Congressional democrats were able to pass S.1, the Honest Leadership and Open Government Act of 2007, before they went on recess last week. The bill calls for increased disclosure on the lobbying process and, more important, a provision restricting the use of private aircraft for senators and representatives.
For Titan Corp., the biggest fine imposed by the U.S. Justice Department since the passage of the Foreign Corrupt Practices Act (FCPA) in 1977 must seem like a pittance compared with the less obvious losses it suffered as a result of its malfeasance.
Helicopter Association International (HAI) president Roy Resavage is calling it a day, after seven-and-a-half years at the helm of the helicopter industry’s association in Washington, D.C. While HAI looks for a successor, AIN talked to Resavage about some of the highs and lows he has experienced while representing the association’s hundreds of members to the movers and shakers on Capitol Hill.