| News Updates |
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15
November 2008
12
November 2008
5 November 2008
28 October 2008
26 October 2008
22 October 2008
20 October 2008
6 October 2008
29 September
2008
Prominent UK spokesman
from Canterbury Robin Williams, added a liturgical
flavour by saying that an excess of faith in
markets had become a kind of "idolatry" holding
that markets are self-correcting is false.
16 September
2008
11 September 2008
9 September 2008
8 September 2008
SAE Aerospace Standards – BICC London Announcement SAE Aerospace Standards is pleased to announce the significant global strengthening of SAE’s Standards Program in Europe. Keely Andrews will be joining SAE staff as our Europe Standards Administrator located in SAE’s Aerospace Standards Europe Office in London. Keely brings a number of qualities to the position including a BA from the University of Hertfordshire, a fluency in French and business German, and a high degree of customer orientation. The Bearing Industry Code of Conduct is discussing the merits of moving into the same premises and requires a suitable applicant with bearing knowledge & preferably BA/LLB in Law. The SAE office is located in Central London just off Baker Street at 1,York Street, London, W1U 6PA, United Kingdom. The Aerospace Standards Europe facility provides numerous opportunities to expand our standards program including:
The BICC is preparing the formation of a SAE G20 technical committee to fulfill operations, making recommendations & referrals for bearing standards. The London based office will provide a valuable platform for future communications. Private Brands Bigger Risk than Counterfeiting The BICC has reported many times the risks involved with Distributors dealing in Private Brands and the non-disclosure of ‘Country of Origin’ Private brands or Private Labels are now growing trends for dealers who see a greater profit from buying unbranded 3rd world bearings, then a name change to a ‘Private Bin’ sold as 1st quality. NKE Bearings Steyr Austria is your typical example of a Private brand, marketing or referred as “Austria Steyr” can camouflage any 3rd world country of origin with a sophisticated Private Label or so called re-branding. Many legal risks, possibly greater than Counterfeit bearings are associated with taking on a manufacturing role, none more than 'Product Liability' In a recent article cleverly written by Lindsay Young for the PTDA, outlines the legal consequences with Joint and Several Liability putting the dealer & private label operator as one in any Legal Proceedings. For more information on the danger of Private Labels and Counterfeiting click http://www.ptda.org/Content/NavigationMenu/MarketTrends/Spotlight/MDM_Changing_Face_Li.htm or Schaeffler Secures Deal with Continental The Schaeffler Group today successfully concluded a long drawn-out deal with the Continental Corporation at a level of 75 Euros per share limited to 49.99 per-cent of Continental’s capital. Schaeffler declined to take 50% and full control of Continental, due to Bankers requirement for Schaeffler to accept the total debt liability placing at risk a mountain size funding arrangement. A good result for most concerned and places a lesser responsibility on the Bearing Manufacturer. The biggest fallout from this deal is the forced resignation of Continental’s CEO Mr. Wennemer. Mr. Wennemer, 60, took over as Continental’s CEO in September 2001 and used the VDO acquisition to transform the tyremaker into a car-parts supplier second only to Robert Bosch GmbH. He called Schaeffler's share swaps illegal and said on July 16 that the approach was ``egoistic, high-handed and irresponsible.'' Mr. Wennemer is to leave the company by Aug. 31, and a successor will be appointed in the ``immediate future,'' Continental said. The departure is ``logical'' and testimony to Wennemer's character, statement by Rober Halver head of research at Baader Bank in Frankfurt. Still, the departing chief is ``the loser in this deal if you want to find one,'' he said
Takeover Bid Now in Rethink at 8 percent Schaeffler’s battle to take control of the Continental Corporation has been diluted to a single digit. The Bearing manufacturer confirmed it owns 8 percent of Continental shares with an option to increase now considered unlikely leaving the 28 percent ‘swaps’ as an illegal contravention of reporting and notification requirements. Renowned university professor Dr. Mathias Habersack, Chairman of Civil, Commercial, Business and Corporate Law and Board member of the Banking Law Association in Germany has stated the methods used by Schaeffler as a clear infringement of provisions of the German Securities Trading Act. Further legal advices, states the German Federal Financial Supervisory Authority can in this case impose not only fines, but take more stringent action against Schaeffler to nullify the illegal actions that are so damaging to the market, but also prevent Schaeffler reaping benefits from its illegal methods. CEO Mr. Geissinger has 2 weeks to rethink Schaefflers awkward situation whilst Continental appears quite content to move on with its daily operations. Little wonder Mr. Geissinger is in a hurry to complete a deal with Continental by raising its offer to 75 euros a share to maybe 80 euros. What price for self pride, and will banks agree to increase the size of exposure against an Auto market in decline? However, this will not resolve the legal appointment Schaeffler has with German Securities Authority, any deal with Continental’s CEO Mr. Wennemer now appears premature. Schaeffler in further Rethink today stated it could sell all 8 percent of Continental shares to the market after the bid ends 27 August 2008, leaving behind a fallout of considerable magnitude. Counterfeit Bearings Attracts $50,000 Reward With continuing non substantiated claims of counterfeit bearings, and used as marketing gimmicks & scare tactics from manufacturers particularly Germany & Japan, the Bearing Industry Code of Conduct has decided to offer a maximum US$50,000 for every Counterfeit Bearing trafficker convicted in an OECD Court of Law. The US$50,000 reward is a genuine attempt by BICC to flush out fake advertising & fancy marketing campaigns and bring closure as to where Counterfeit Bearings, in such large numbers actually come from and who is benefiting. The OECD Magistrate or Judge will adjudicate who receives the US$50,000, upon successful conviction, naming of the corporation & supply base, its executives, the amount and bearing sizes involved. For further information contact info@bearingcode.com Schaeffler Should Reconsider Continental Plunge If you believed every newspaper and expert opinion on Schaeffler’s bid for Continental in particular ‘Auto Magazines’ and friends at Porsche, the takeover is a completed deal - then stop, think again & maybe you’ll reconsider. Apart from Maria Schaeffler having little remaining cash reserves with deep pockets relying on its creditors & banks to prop the Continental offer, there are 3 questionable issues for Continental shareholders to have a drink over. Product Compatibility: Schaeffler is not renowned for automotive Taper Roller Bearings particularly front & rear wheels. Continental’s insignia product for OEM or Replacement aftermarket is primarily Tyres, making way for conflicting interests or at the expense of a taper roller expert with the likes of TIMKEN, the Japanese or dare mention Chinese. If Schaeffler’s idea in obtaining Continental shares to bolster tapers then with current competition & global auto downturn, what assistance can Schaeffler give to Continental? Its ‘think again’ Debt Ratio & Exposure If Schaeffler’s bid for Continental is successful, the combine service debt will be 31 Billion Euros or over US$50 Billion most people cannot write this amount. Any top financial guru or consultancy corporation will advise to re-advise this exposure and highly doubtful they would approve. For Schaeffler to use the ‘Porsche’ model for the takeover of Volkswagen is a different criterion, Schaeffler doesn’t make Cars or Tyres. Banks are misled if receiving 4% is an acceptable income for shuffling their numbers, or are there other reasons to the layman or existing shareholder not fully transparent? Its ‘think again’ Plunge at your Peril It now appears Schaeffler has no grand takeover plan in its approach to Continental. From day one we were told of a ‘hostile’ takeover, why? Not only does this look sloppy, but the use of the word ‘professional’ escapes.. What was the problem of corporate discussions between these two over a few months, finding out each other differences, pros & cons, and if all else fails then declare ‘war’. It takes time especially for such a big event for shareholders to reasonably comprehend. Understandable, Continental has put up the shutters and will no doubt raise many critical constructive issues as to why shareholders should ignore Schaeffler’s stance. And each day is costing mega millions for the money already committed. Its ‘think again’ for Maria to reconsider. US Judge Angry at Price Fixing Cartel A Judge has expressed his frustration that top executives will escape penalties over a Price Fixing Cartel that cost airlines $1.25 billion. Qantas Airlines employee Bruce McCaffrey got a lighter-than-expected sentence at the US District Court in Washington yesterday for his role in a conspiracy to eliminate competition. US District Court Judge John D Bates said: “It does bother the court that the most responsible from his company will never face these kinds of consequences.” McCaffrey’s lawyers claimed he was only following the orders of “corporate higher-ups” as they were the real decision makers over 15 years. The ball bearing price fixing cartel that commenced early 1990s and convicted by the French Authorities in 2002, contains the same hallmarks as the Airlines. If civil & further criminal proceedings now commence in the US District Court, companies including SCHAEFFLER & SKF will need to nominate people within their ranks - or will the District Court Judge step in and order the CEO’s of each corporation to stand trial ?
German Corporate Hangover Inc extracts UK- FT German commercial culture was once obsessed with maintaining a harmonious relationship with politicians, unions and domestic competitors. This seems to be changing, with German companies now increasingly prepared to mount hostile bids against rivals. Or is it ? Krupp set the ball rolling more than a decade ago with its unsolicited approach to Thyssen. But ultimately the two sides agreed to a friendly merger. A couple of years ago Merck launched a hostile bid for Schering, and that ended with a friendly merger between Schering and Bayer. Now Schaeffler is putting pressure on Continental after secretly securing 36 per cent of the shares in its rival. Continental was not amused and has told Schaeffler its offer is too low. But it also seems prepared to negotiate with the enemy. So the chances are that this deal too will follow what is becoming a trend in corporate Germany of getting friendly through hostile bids, although this time around, Schaeffler’s ‘Price Fixing Convictions’ and other dubious corporate behavior must be considered by Continental shareholders, directors and unions alike. The politicians do not seem bothered by this growing consolidation of German industry. So long, that is, as it is conducted by German companies and does not involve foreign predators. The country still seems to be suffering from the hangover of the one and only large successful foreign bid for a German corporate icon – Vodafone’s takeover of Mannesmann eight years ago. Imagine if a foreign predator had built up creeping control of either Continental, as Schaeffler has done, or Volkswagen, as Porsche has done. There would have been a political OUTCRY.
15 July 2008
SAE-ACBG Bearing Conference Sept 23-25 2008 September’s SAE-ACBG Bearing Conference & group committee meeting will be a Sponsored event by an obvious attraction with the likelihood of record numbers registering. Attending will be representatives from various Aerospace companies including Boeing, Lockheed, Grumman, NASA, Government standards personnel, a significant number of Bearing Manufacturers eg. RBC, Heim, Emerson, Aurora, NHB, Timken, Kaydon and Engineers responsible for Material specifications & Component ring producer for Bearings. The SAE-ACBG Chairman Mr.Jim Mathis, Chief Engineer at Boeing will convene the 3 day event with an Agenda to cover both day group meetings & night entertainment packages. The BICC will move & debate several topics ranging from Specification Alterations without Authority, Counterfeit seizures, false & misleading advertising by leading European Bearing Manufacturers and should these Manufacturers & subsidiaries convicted of criminal Offences including ‘price fixing cartels’ & ‘collusion’ be excluded as suppliers to the Aerospace Industry. For your registration kindly email the SAE Staff Representative Maureen Lemankiewicz : 10 July 2008Non Verified Claims of Counterfeit Bearings Installs Unwanted State of Alert to Other Industries & CountriesLessons learnt from the 23 Jan 2007 fictitious event relating to Counterfeit bearing raids complete with allegations of criminal prosecution, newspaper headlines and other media press releases by leading European bearing manufacturers, result only in self hysteria for short term marketing gains that create unnecessary & unwanted concerns to critical application sectors globally. It’s easy to grab headlines of counterfeit bearings seized including “22 sets here and 133 sets their” however, in nearly every claim the BICC has requested an examination or police report or Court hearings or Names of offending companies or their executives, but very little is substantiated. Over reaction or continuing claims of raids involving counterfeit bearing seizure is in itself dangerous and counter productive, only designed for a cheap headline for cheap marketing. And when real “counterfeit” seizures happen and verified, will the full impact be noticed and accepted by those most vulnerable ? 1 July 2008 Aerospace Industry in Bearing Rethink With recent announcements of material specification Standards modified without authority, Brandjacking in the sale of Air plane parts on the Internet, Airlines at record numbers outsourcing Key maintenance to third world countries for first class passengers, and further news of the prestige's brand "SNFA bearings" now owned & controlled by SKF "not achieving the prescribed specifications" for Airworthiness, Without over dramatising, Bearings in aviation is now a sensitive issue. The Aerospace Industry must fast track methods to ensure maximum safety is assured to the travelling public. Boeing Aircraft (Commercial Division) appears set to incorporate CoC systems to prevent above contamination, the BICC is still waiting for the other major Commercial aviation carrier "Air-Bus" for a constructive CoC policy. US Military Aircraft has already joined policy discussions.
27 June 2008 A range of
topics covered included innovative methods to combat illegal
trading by Counterfeit & Fake Bearing traders, a properly
constituted "Bearing Government", radical changes to an "old
system" and accreditation with strong reference to "Change is
Unavoidable"
"Brandjacking" Safety Problem For Conduct Regulators The sale of spare airplane parts on the Internet is a much scarier proposition than phony vouchers. MarkMonitor found 24 vendors that sell parts for Airbus or Boeing commercial jets, and even found F-16 military fighter-jet parts for sale. The commercial-jet business is "at best . . . a Brandjacking or more descriptive Black Market for legitimate spare parts," the report said. "At worst, these listings are selling phony or questionable parts." Some of the
Web sites that are in this business "don't inspire confidence,"
the report said. As an example, one vendor's site offered
mosquito swatters, musical instruments and decorative light
strings in addition to aircraft components. Another advertised
rough diamonds from Angola along with Boeing business jets,
helicopters and light aircraft. BICC Proposed Aerospace Specification CoCFrom the SAE Airframe Control Bearing Group conference, Nashville TN USA April 2008, it was reported certain material specifications relating in particular to spherical plain bearings may be contaminated during manufacture resulting in reduced life. A case in point, before any specification becomes a “Standard” inscribed and set in stone, many years of engineered research is normally conducted. Change to an original specification is a significantly rigid & much argued case requiring investigation of serious failures and/or to show just cause. NASA together with the general Aviation Industry requires strict audit procedures for both materials flow and corporate behavior, obviously reduced bearing life is unacceptable. The BICC proposed a code of conduct between the aerospace bearing manufacturer and vendor requiring full compliance to original specifications and materials with penalty clauses for default. A leading EU bearing manufacturer has adopted our CoC method to various outside contractors for compliance and confidentiality. However, another EU bearing manufacturer seeking further approval with the US Aviation industry failed to reply in our request for this initial strategy. CEOs Can Nurture Hot Spots Accepting Change By Lynda Gratton who is professor of management practice at London Business School WALK around any organisation and you will see people going about their daily routines. Sometimes as you walk the corporate corridors you will come across something different, something that causes you to pause and consider how you might encourage it to happen throughout the organisation. It might be an excited debate where enthusiasm and commitment is tangible. It might be an overheard conversation about a brilliantly simple idea. It might be a conference call on which, instead of being separated by time zones, people appear to be energised and working to the same goal. For CEOs these moments are organisational magic. For all the grand debates in the boardroom, the strategy retreats, the visions, this is what CEOs strive for: the crackle of imagination in pursuit of corporate goals. I call these "hot spots". They are times when positive relationships with work colleagues are a real source of deep satisfaction. They are the times we remember and when we add the most value — personally and professionally. Most companies have developed an environment in which any form of doubt is perceived as ignorance or weakness and questioning is interpreted as either manipulation or affront. This kills the spirit of inquiry and reduces conversations to ritualised, dehydrated talk. The first task of the CEO in creating good conversations is to institutionalise questioning and expressing doubt as a normal part of the way in which the company operates. The ability to ask incisive questions requires careful cultivation. Spotting potential weaknesses or fallacies in an argument needs a prepared mind. To be effective questioners, CEOs need to constantly expose themselves to a variety of information and stimuli inside and outside the company so as to be able to generate independent and insightful thoughts. To legitimise honest expressions of doubt, CEOs need to admit their own doubts and uncertainties. CEOs who believe that they must always have the right answers kill curiosity and inquiry. It takes self-confidence and courage for leaders to acknowledge their own ignorance, but nothing serves as a better reminder to others of all the things that they themselves do not know. Lou Gerstner, in his first meeting with senior managers after taking over as the CEO of IBM, made a new rule: no overhead projectors and no slides were allowed into the room. In IBM, meetings had become totally ritualised, with formal presentations of information using well-crafted colour slides. Managers spent much time preparing the presentations, which took up all the available time during the meetings. Gerstner wanted quality conversations. Hence his new rule: No Slides. Individual habits and organisational inertia lead to the persistence of poor conversations in companies. Most leaders can think of simple rules to break habits and inertia. What matters is that the leaders consciously ask the questions: What is blocking quality conversations in our organisation? What can we do to eliminate the blockages? Creating friendships is also crucial. It begins with the quality of relationships the members of the leadership team have with each other. Poor-quality relationships have a profoundly negative effect on the capacity of the company to thrive. While OgilvyOne under the direction of its founder, David Ogilvy, had been a friendly place, by 1992 its original entrepreneurial culture had ossified into highly autonomous factions led by barons who were more interested in protecting their turf than in building the business. "The London office was horrible," a senior manager told me, "with constant backbiting and a lot of bad blood". The change started with Charlotte Beers, the then CEO of Ogilvy, who invited all the business leaders to a two-day off-site meeting. Breaking with norms, she began the conversation by asking direct questions: "How do we feel about one another? Why can't we work together? Do we recognise what our relationships are doing to our clients?" Initially, the discussions were very difficult. "We simply did not know how to talk openly to each other," the same senior manager told me. "We were so used to being defensive and polite. It took two years and eight meetings and some changes in the cast of characters before we learned to deal with emotions and feelings, to be authentic … to learn the power of friendship." In each company, there are a handful of practices and processes with which leaders must personally involve themselves, ones that are unique to the company. These are not best practices imported from elsewhere; rather they are the practices and processes that resonate with the values of the company. These are the company's signature processes, and leaders play a crucial role in defining and sponsoring them. Exceptional leaders use signature processes to communicate their values and the values of the company. To do so requires that the leader be very clear about what the values are. The executive role in identifying externally developed best practices is rational and analytical; in contrast, the executive role in signature processes is value-based and insightful. Best practices are necessary but they're not sufficient. Much of our way of thinking about the role of management has centred on the rules of command and control. Supporting the emergence within organisations of hot spots requires a whole new set of rules and a new way of approaching the challenge. They need a more subtle, more nuanced and more sophisticated approach. It requires unlearning some of the old rules and embracing some new ways of thinking and working. The new rules include creating strong bonds through relationships across boundaries. Hot spots are created in the space between people. They cannot be forced. They are fundamentally relational, whether the relationship is between close friends or business acquaintances, but they become moribund without boundary spanners, people who bring insights from outside the group. Finally, purposeful conversation is their source and conversation needs to be supported with insightful data, an emphasis on values, and space for reflection. And the acid test? I believe the CEOs who make the shift will walk the corporate corridors in anticipation rather than trepidation.
BICC forges with DGF International Group The BICC has established relations with the “Development Gateway Foundation” www.dgfoundation.org that offers members with contacts from over 200 Countries. BICC main objectives with DGF are Corporate Governance, Compliance, Innovating Thinking, Action & Implementing New Changes to keep up with the modern World. Global DGF conferences on various commercial matters are a regular feature; if you are a member then automatic notification is sent to your email. Also within the DGF system operations, another interesting business feature is the “Tenders and Procurement Opportunities Worldwide” www.dgmarket.com Along with SAE International, the DGF will be a permanent acknowledgement to the BICC site. Price Fixing Scams Enter US Courts In what appears several Price Fixing Cartels will now face criminal prosecution by the US Department of Justice, the international Airline Freight industry has commenced “plea bargains” for its Executives at the insistence of the DoJ. Several Executives from the world’s top Airlines involved in this 12 year criminal activity have pleaded guilty offering public apologies in the hope of lighter sentences. A QANTAS freight Executive faces eight months Jail and $US20, 000 fine, after he agreed to plead guilty. He was one of six executives from the airline’s $US61 million plea bargain with the DoJ to settle its criminal liability in the US. However, Airlines are still under investigation by regulators in other jurisdictions including Europe & Australia. They also face class actions by disgruntled customers in North America & Australia. The Price Fixing Cartel scam by leading EU & Japanese Bearing Manufacturers dating back from the mid 1990’s, were convicted by the French Authorities and fined €19.1 million ($US25 million). A senior Executive from the worlds major Bearing Producer, did not offer an Apology instead made a statement of “Appeal” that has since lapsed. Maybe this same Executive or his Bearing Corporation in there own interest could now issue a public apology. The cardboard packaging Cartel scam involving convicted corporation “Visy-Board” is now set for legal proceedings in EU & USA. The CEO has offered a Global apology after pleading guilty & fined $31 million for decades of cartel corruption.
SAE International Acknowledgement
The SAE International has acknowledged the BICC President Mr. Ian McPherson for work and
contributions in establishing global recognition.
The statement by David Schutt, Executive Vice President of SAE International, reads in part…
“Thank you for your time; thank you for your talents; and thank you for all that you contribute to
SAE International. Without people like you, we simply would not be the world-class mobility
engineering society that we are today.”
David Schutt further states…
Recently, SAE won the prestigious 2008 National Science Board Public Service Award for the
outstanding work we do regarding education.
In fact, according to the award notification letter, SAE was selected in part,
"...for its long-standing and superior commitment to student and professional engineers and math
and science education."
Two excellent examples of this commitment to learning and the main reasons that we won the
award are the A World In Motion(R) curriculum and the Collegiate Design Series competitions.
Once again, thank you for the work you do on behalf of SAE and the global mobility industry! Respectfully, David L. Schutt, PhD Executive Vice President & COO SAE International 400 Commonwealth Drive, Warrendale, PA 15096-0001 USA
Ferrari Community Endorses BICC FERRARI component manufacturer “Hill Engineering” www.hillengineering.co.uk has endorsed the BICC for the purpose of avoiding Counterfeit & Fake Bearings for the use in the exclusive prestige automotive & racing car Industry. Hill Engineering with nearly 60 years of engineering experience producing component parts under their strict ISO 9001 quality control procedures, challenge you to find a better tensioner bearing for your FERRARI. For the latest news & information about the Ferrari Community visit www.ferrariChat.com The BICC has now received many endorsements within the Automotive Chamber of Commerce and with general support from the global Aviation Industry delivers a strong message to the Bearing Industry for Certification.
Gas Emissions Now Gravest Scenario Transportation of Bearings Big Offenders Global green house gas emissions are growing far more rapidly than even the most pessimistic estimates developed by the Intergovernmental Panel on Climate Change. In a yet-to-be finalized academic paper, Professor Garnaut and three colleagues estimate that annual emissions of carbon dioxide and other greenhouse gases would have almost doubled the current levels by 2030 and have reached levels British economist Sir Nicholas Stern predicted would not be reached under a “business-as-usual” scenario until 2050. The paper concludes that rapid economic growth, centred on Asia but spreading across the world, is driving emissions growth and making earlier projections unrealistic. The predictions are expected to be published in July in The Oxford Review of Economic Policy. Whilst major bearing manufacturers TIMKEN, SKF & FAG have nice & easy statements on how they contribute to a “Green” policy, the BICC recently examined bearing stocks in Italy, America & Australia with alarming results. TIMKEN bearings eg. 32210 had (1) no Country of Origin on either bearing or packet (2) the box was made in Thailand (3) printing in Singapore (3) the liner from China (4) A code indicating production from Poland (5) sold in Australia. At a good estimate of more than 30,000 km’s of gas emissions for transportation. SKF for ball bearings ranged from Germany to 11 various Countries, FAG faired much better although both companies claim to be awarded with the best green production. The latest available brochure by the SKF CEO in Sweden claims “stock exchange award winner” for the best green policy, but this does not include transportation around the World looking for the best price policy. With the above policies from major bearing manufacturers, its little wonder why COUNTERFEIT & Re-Badge bearings are continuing at uncontrollable strengths. For example, take the corrupt & former bankrupt central EU business “NKE BEARINGS STEYR AUSTRIA” (1) they are not a Bearing manufacturer as claimed (2) Ball & Cylindrical bearings from various CHINA locations (3) Taper rollers from Rajkot, INDIA (3) Sphericals from Ningbo CHINA, CZECH & ROMANIA (4) Boxes & Printing in THAILAND & ASIA. All are shipped to AUSTRIA packed in nice glossy boxes marked “NKE BEARINGS STEYR AUSTRIA” and marketed to the unassuming at 1st quality prices. Nearly impossible to calculate the Transportation Gas Emissions for these gimmick type fake bearings, however “Name & Shame” is considered the best form of exposure.
These internal Standards together with an approved company's Code of Practise can be obtained by BICC Members free of charge, simply send your request to info@bearingcode.com Another advantage & reason for BICC membership.
Warnings for “Cashing-in” on GREEN Marketing It is a sign of the times when the global corporations the likes of General Motors and the USA Steel Industry announce a new multi-million dollar focus on Research and Development for environmental solutions. And it is not just the corporate sector with many Governments issuing directives to departments to come clean on Green House emissions and the impact on savings. This is a commendable turnaround and definitely positive signs for our future global environment and the BICC are cooperating by introducing “Bearing Miles”. However, while there are those businesses and governments focusing on cleaning up their act, there appears to be those “cashing-in” on the “going Green” concept by using marketing campaigns to lure an increasingly environmentally sensitive consumer. This concept has been labeled “GREENWASH” and it has been officially acknowledged as a real threat to real environmental change by diverting consumer dollars away from “real” and innovative environmental products and causing skepticism in the market and diluting the good that those businesses striving to make changes for the better are doing. This has become a hot topic, so much so that the Australian Competition and Consumer Commission has released a new guide for businesses and companies that use green claims in their marketing. This guide has put companies on notice and now any claims about green-ness in Australia is subject to the Trade Practices Act prohibition of misleading and deceptive conduct. Recently the BICC has commenced a trial on a new global environmental concept know as “Bearing Miles”. The BICC is pleased to confirm that the concept complies with Australian Government guidelines dealing with Green house emissions. For more information about “Bearing Miles” contact info@bearingcode.com
17 March 2008 PricewaterHouseCoopers Conference with BICC A meeting & presentation was held on 13 March, 2008 between Directors from PricewaterhouseCoopers and Bearing Industry Code of Conduct. PricewaterhouseCoopers presented BICC with a newly released 52 page survey on “Confronting Corruption”. Mr. Ian McPherson told PWC the survey is compelling reading & would provide a valuable insight to eliminate global Counterfeiting, re-badge or lack of identification to Bearings & other forms of corrupt behavior. It features analysis and commentary |
