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June 16, 2003
Citigroup Venture Capital has been exposed as the largest shareholder, with a 75% stake, in Mincorp Acquisition Corp., whose mining operation at Quecreek last year unleashing a torrent of water that trapped miners 245 feet underground. Citigroup (and its various environmental partners) have been very quiet about this one... It's not "project finance" -- it's a direct investment. Developing...
In Wisconsin, the Department of Justice filed a multimillion-dollar lawsuit earlier this month against the City of South Milwaukee for environmental violations over the last five years from its hauled and industrial waste program. The lawsuit also asks for an injunction to stop from city from taking any more hauled industrial waste... A bit too easy: in Philadelphia, Temple University has avoided a $285,000 U.S. EPA fine by disclosing violations at 10 of its campuses. Schools can avoid paying millions of dollars in fines by reporting environmental regulatory violations directly to the U.S. EPA,
agency officials blithely said last week....
Citigroup subsidiaries such as Mincorp LLC are also directly involved in mining operations. In 1998, IMC Global sold its soda ash and boron chemicals business to Mincorp LLC, a holding company of Citicorp Venture Capital. The deal was valued at $520 million. IMC will retain a 40% stake in Mincorp, which will include Rhone-Poulenc (RP) subsidiary Novacarb (Nancy, France). Mincorp will become the world's third-largest soda ash producer, with operations in the U.S., western Europe, and Australia. Mincorp will probably remain headquartered in Overland Park, Kansas.
Originally posted by bsbray11
This is a good post. WATS
All the evidence implicating criminal activity by Citigroup in numerous SEC investigations was also destroyed when WTC7 collapsed, among other cases. I had no idea on all of this other stuff though.
Originally posted by Caustic Logic
This doesn't seem terribly interesting at first blush. I'm not digging in tho, maybe getting burnt out already. A lot of land and properties even in my podunk town farther from the seats of power are owned by big companies. It's the way of the world, the few at the top own the very most.
That FAA thing was good, tho. My WATS vote for you was for that, not the Gwion debunking BTW. better pop over now and see who I've pissed off today.