Friday, May 25, 2012

The Fortune 100 Company You've Never Heard of

Actually Glencore International, plc, is not a Fortune 100 company.  It is a Swiss-based company that is larger than most Fortune 100 companies.  Revenue in 2011 was $186 billion. Apple's revenue was $108 billion.  

Glencore "controls more than half the international tradable market in zinc and copper and about a third of the world's seaborne coal; was one of the world's largest grain exporters, with about 9 percent of the global market; and handles 3 percent of daily global oil consumption for customers ranging from state-owned energy companies in Brazil and India to American multinationals like ExxonMobil and Chevron."  Its ROI is 38%, much better than most companies in which you have invested. 

The company was founded by Marc Rich.  Remember him?  He was the guy indicted on federal charges of tax evasion and illegally making oil deals with Iran during the Iran hostage crisis. He was in Switzerland at the time of the indictment and has never returned to the U.S. He received a presidential pardon from Clinton. 

Glencore makes its money by being in bed with the bad guys of the world who have bribed dictators and others to look favorably on the company.

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