Unocal under pressure over Myanmar
Date: 3 Sep 2003
Chief financial officers from New York and California have called upon Unocal to withdraw from Myanmar or clearly state that the company operates in line with human rights guarantees.
California Treasurer Phil Angelides and New York State Comptroller Alan Hevesi told Unocal officials Tuesday during a face-to-face meeting that the company should justify to shareholders why it continues to operate in the country.
Unocal is currently fighting a class action lawsuit from 18 farmers accusing the company of complicity in human rights abuses conducted by security forces during the construction of the Yadana pipeline.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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