Transparency International

Total Page:16

File Type:pdf, Size:1020Kb

Transparency International Having a reputation for zero tolerance of corruption will be a distinguishing asset for a defence company Foreword 1 Foreword Corruption threatens all nations and With this ground-breaking study, Transpar- companies. The issue increasingly domi- ency International UK is encouraging nates daily headlines and public debate companies to move a step further. This around the world. Companies are often well comprehensive analysis of the major defence aware of the financial, legal, and reputa- companies from all over the world examines tional consequences of corruption – fines, what systems and processes they have in loss of public trust, reduction in stock price, place to prevent corruption, based on the blacklisting, and even prison. Yet, to the information available. Its purpose is to raise despair of many trustworthy people working standards globally, promote good practice in in the sector, defence has maintained a preventing corruption, and increase transpar- reputation for dishonesty and corruption. ency in the sector. I very much hope that the But there is also a major opportunity. industry responds to the challenge. Those defence companies that do take the subject seriously have the chance to be seen by their government clients as better companies with which to do business. As governments toughen their attitudes towards corruption, having a reputation for zero tolerance of corruption will be a The Rt Hon Lord Robertson distinguishing asset for a defence company. of Port Ellen KT GCMG honFRSE PC, Ignoring both the risk and the opportunity Former Secretary General of NATO is poor business strategy. Collaborating with Transparency International UK’s Defence and Security Programme since 2006, I launched the Common Industry Standards – an initiative that led to the first Europe-wide set of standards to tackle the practice of bribery among defence companies. This same initiative led to the creation in 2010 of IFBEC, a global defence industry forum for raising business conduct standards among defence companies. It is clear that there is an appetite for change in the industry. 2 Executive Summary Executive Summary The purpose of this study is to assist industry-wide improvement in reducing corruption in international defence sales. www.defenceindex.org www.ti-defence.org Executive Summary 3 Corruption in The defence sector is crucial to a country’s The 129 companies analysed in this study security, and yet has a reputation for secrecy are those with the greatest defence revenue defence is and corruption. News stories about corruption from the six largest arms exporting nations, dangerous, in defence deals appear regularly in the news plus the largest defence companies from a in many countries. This must change. further twenty-five countries. Together, divisive and Corruption in defence is dangerous, these companies account for over USD 500 wasteful. divisive and wasteful. It puts international billion of global defence revenue, and USD security at risk; it can lead to regional arms 11 trillion of total revenue.1 The defence races to satisfy the greed of intermediaries; sector by nature is complex and diverse – and billions can be wasted in dishonest companies in this index include traditional arms deals. This reputation has a detrimen- arms manufacturers as well as consultants, tal effect for companies and governments technology providers, logistics specialists alike, much to the frustration of the many and construction firms. honest people working in it. The companies are scored on 34 questions What the news stories often don’t tell is that inquire into the specifics of the ethics what defence companies are – and are not and anti-corruption systems they have in – doing to combat corruption. At a time of place. The information used to compile the increased scrutiny by governments and Index is drawn from what companies disclose citizens alike, it is very much in a company’s publicly on their websites about their interest to prevent corruption, and how it anti-corruption systems. does this will increasingly become a Transparency International UK also invited competitive advantage. This report looks all the companies to present evidence about into what defence companies currently do their anti-corruption practices to supplement and fail to do to prevent corruption. The what could be found publicly. Thirty-four of purpose is to assist in raising anti-corruption the companies provided such information, standards across a major sector that is sharing material from internal company global in nature yet whose business has sources. The report presents the results for historically been hidden from public view. these companies on the basis of both publicly available information and how they would have scored if they made public the additional internal evidence. 4 Executive Summary Two thirds RESULTS BASED ON PUBLIC RESULTS BASED ON BOTH INTERNAL INFORMATION ONLY AND PUBLIC INFORMATION of defence Ten companies score in the top two bands. The thirty-four companies that provided companies do Fluor Corporation is the only company to internal information on their anti-corruption score in Band A. In Band B are Accenture, systems are predominantly companies that not provide BAE Systems, Fujitsu, Hewlett-Packard rank reasonably well on the basis of their adequate Company, Meggitt, Northrop Grumman public disclosure only: 28 of the 34 are in Corporation, Serco Group, Thales, and Bands A to C in the public-information levels of United Technologies Corporation. ranking, with just six in Bands D and E. transparency. These companies publicly demonstrate The inclusion of company-internal in considerable detail the systems and information would have improved the procedures that they have in place to company results on average by one to two prevent corruption. This is to their credit, bands, with almost half of the 34 moving and demonstrates clearly that there is no up to Band A. The improvement is mostly confidentiality or secrecy barrier to good due to additional disclosure in two specific public disclosure about anti-corruption areas: in how they assess the risk of in the defence industry. corruption (e.g. in business decisions, in However, this group represents less geographical scope, in particular product than ten per cent of the companies studied. sectors), and in how they train staff on Two thirds of defence companies do not ethics and anti-corruption measures. There provide adequate levels of transparency. is little impact of internal information in Almost half of the total – 60 out of 129 – respect of the three other areas – Leader- provide very little evidence of having basic ship practices, Codes and policies, or systems in place to prevent corruption and Personnel practices. instil strong ethical values, scoring in Bands E and F. This includes companies from all the major arms exporting nations: USA, Russia, Germany, France, the UK and China. D E 19% 10% A: 1 Company C B: 9 Companies 26% 37% F C: 34 Companies D: 25 Companies 7% B 1% E: 13 Companies A 129 COMPANIES F: 47 Companies Executive Summary 5 GOOD AND BAD PRACTICE ACTIONS The detail of this study provides numerous The Chief Executives of defence companies examples of good practice from which all worldwide are the principal audience for this companies can learn. Several of them can report. The following are four immediate serve as best practice across the defence actions they can undertake to implement sector as a whole. Perhaps the best practice good ethics and anti-corruption systems: of all, and the most convincing to us as a civil society organisation, is that there are 1. Review your company’s ethics and defence companies who have instituted a anti-corruption systems, comparing them practice of regular assessment of their total with the results of this study. Require that ethics and compliance programme by an an improvement plan be put in place and independent organisation (such as a law or review progress at main Board level. Review accountancy firm) and who have committed the information disclosed publicly by your to publishing the assessment in full. company so that your commitment is clear ThyssenKrupp AG and BAE Systems are the to all. We suggest you aim to provide only two defence companies in the survey ‘Band A’ level disclosure. that we are aware of who commission such For the 85 companies in Bands D to F, external assessments and make them analyse why your company demonstrates publicly available. such limited evidence of ethics and compli- It is also striking how bad practice is ance systems, and insist that substantive increasingly obvious when compared with the improvement plans be put in place. good examples. There are three main culprits. 2. Commission an independent external • Legal jargon: There are many Codes organisation to assess annually your of Conduct that focus on legal compliance company’s total ethics and compliance and use legal jargon that may make them systems, and commit to publishing the report. difficult for employees to find useful, or 3. Speak up for industry-wide improve- even intelligible. This could be a product ments in ethics and compliance standards of lawyers having drafted most of the in the defence sector. There is much scope anti-corruption programme. for more visible external leadership and for • “Box-ticking: ”The tone of the whole multi-country collaboration. Actively support ethics and compliance programme – all the IFBEC, the new global defence forum for way from the CEO statement in the Annual good business and ethical conduct, and Report through to detailed policies – is written make it the leading sector example of in a style that lacks any conviction. This pro-active corporate behaviour. “box-ticking” style is immediately obvious to 4. Commit your company to engage with the interested reader, and it is likely this is stakeholders who promote transparency and also obvious to the company’s employees. accountability of the defence sector.
Recommended publications
  • Annual Report FORWARD-LOOKING STATEMENTS
    2019 Annual Report FORWARD-LOOKING STATEMENTS Some of the information we provide in this document is forward-looking and therefore INSIDE FRONT COVER could change over time to reflect changes in the environment in which GE competes. For details on the uncertainties that may cause our actual results to be materially different Wysheka Austin, Senior Operations than those expressed in our forward-looking statements, see https://www.ge.com/ Manager, works on a combustion unibody investor-relations/important-forward-looking-statement-information. for GE Gas Power’s 7HA gas turbine in Greenville, South Carolina. We do not undertake to update our forward-looking statements. NON-GAAP FINANCIAL MEASURES COVER We sometimes use information derived from consolidated financial data but not presented Kevin Jones, a Development Assembly in our financial statements prepared in accordance with U.S. generally accepted accounting Mechanic, performs a perfection review on principles (GAAP). Certain of these data are considered “non-GAAP financial measures” the propulsor for GE Aviation’s GE9X engine under the U.S. Securities and Exchange Commission rules. These non-GAAP financial before it is shipped for certification testing. measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures can be found on pages 43-49 of the Management’s Discussion and Analysis within our Form 10-K and in GE’s fourth-quarter 2019 earnings materials posted to ge.com/investor, as applicable. Dear fellow shareholder, Over 60 GE wind turbines work together at Meikle Wind Farm, the largest wind farm in Western Canada, to generate enough energy to power over 54,000 homes in British Columbia.
    [Show full text]
  • 2016 Annual Report Table of Contents
    Association of the United States Army 2016 ANNUAL REPORT TABLE OF CONTENTS Letter from the President & CEO . 3. Education . 4. Professional Development . .4 . Publications . 7. Digital & Social Media . 10. Advocacy & Outreach . .11 . Government Affairs. 11 Family Readiness . .14 . NCO & Soldier Programs . 15. Membership & Chapters. 16 Financials . .18 . Awards . 19 Sustaining Members . 21. 2 LETTER FROM THE PRESIDENT & CEO In 2016 we experienced a year full of change—for our nation, for the Army and for the Association of the United States Army (AUSA). During what can only be described as a tumultuous political year, our nation experienced a presidential campaign unlike any other I can recall. National security factored promi- nently in the campaign, particularly in several of the debates. AUSA, true to our non-par- tisan tradition, provided a platform for the advancement of a strong defense based on our uniquely American values. “America’s Purpose,” a short, but impactful, document published by AUSA, offered thoughts of how the next president, irrespective of party, might craft an effective foreign policy. This initiative, led by GEN Gordon Sullivan, U.S. Army Retired, LTG Guy Swan, U.S. Army Retired, LTC Douglas Merritt and Richard Lim, presented GEN Carter F. Ham, U.S. Army “America’s Purpose” to the most senior advisors to both leading presidential candidates. Retired, President & CEO, AUSA You’ll find “America’s Purpose” in the Publications section of our website and I encourage you to read it. For us at the AUSA National Office, the biggest change was the retirement of General Sullivan after more than 18 years as president & chief executive officer.
    [Show full text]
  • English Electric Factory Makes Switch Gear and Fuse Gear, and Domestic Appli.Ances Such As {Ridges and Washing Machi.Nes
    uorlrpf puz sburllrqS o^ I LL 'oN sarras lalqdrued lorluoc ,sra4JoAA Jol olnlllsul I I I l I I I I I t : -l .l ..i\l { l- Auedur cl,l ll lelouaD 3 3-33 3 Contents Page 2 1. Prelace to 2nd Edition 6 2. Foreward to 1st Editon ,l 3. Background to the OccuPation ID 4. The Facts about GEC-AEI-EE 21 5. The Role of the Government' 23 6. The Roie of the Unions. Policy for the Labour 7. The Alternative 24 Movement' 27 L New Politics, new Trade Unionism' INSTITUTE FOR WORKERS' CONTROL 45 Gambte Street Forest Road West Nottingham NG7 4ET Tel: (0602) 74504 2nd Edition 24 SePtember 1 969 1 sr Edition 1 2.SePtember 1 969 PREFACE TO SECOND EDITION So the Liverpool factory occupations are not, for the present at any rate, going to take place. Of course, there i.s widespread disappointrnent about the news that broke on September 17/1Bth just before the proposed occuparlon was due to take p1ace. The shop stewards of the GECAction Committee, with thei.r staunch allies on the District Commi_ ttee and in the 1ocal offices of the unj.ons concerned., have, in the courageous struggle, won deep admiration all over the country. From the terrific mail which has come to the offices of the Instifute Jor WorkersrControl, we can say without doubt that_sympathy for the proposed action extended throughout the whole country, and into every major industry and trade union. A body like the lnstitute, which exists to co-ordinate research and inlormation services, cannot, of course, offer any sensible advice about how particular actions should be undertaken.
    [Show full text]
  • List of Selected Core Partners in CPW01 Proposed for Membership1
    List of selected Core Partners in CPW01 proposed for Membership1 Core Partners and Affiliated Third Parties ITD/IADP Country (ATP) ADVANCED LABORATORY ON EMBEDDED [SYS] IT SYSTEMS S.r.L. AERNNOVA AEROSPACE S.A.U. [AIR, LPA] ES ‒ AERNNOVA ENGINEERING DIVISION ‒ [AIR, LPA] ‒ ES SAU (ATP) ‒ AERNNOVA COMPOSITES ILLESCAS ‒ [AIR, LPA] ‒ ES S.A. (ATP) ‒ AERNNOVA AEROESTRUCTURAS ‒ [AIR, LPA] ‒ ES ALAVA, S.A. (ATP) ‒ INTERNACIONAL DE COMPOSITES SA ‒ [AIR, LPA] ‒ ES (ATP) ‒ FIBERTECNIC (ATP) ‒ [AIR] ‒ ES ‒ COMPONENTES AERONAUTICOS ‒ [AIR] ‒ ES COASA, S.A. (ATP) ‒ AEROMAC MECANIZADOS ‒ [AIR] ‒ ES AERONAUTICOS SA (ATP) AEROTEX UK LLP [AIR] UK ARTUS SAS [AIR] FR CENTRO ITALIANO RICERCHE [AIR, REG] IT AEROSPAZIALI SPA CT INGENIEROS AERONAUTICOS DE [AIR] ES AUTOMOCION E INDUSTRIALES SL DEUTSCHES ZENTRUM FUER LUFT - UND [AIR, ENG, LPA] DE RAUMFAHRT EV DSPACE DIGITAL SIGNAL PROCESSING AND [SYS] DE CONTROL ENGINEERING GMBH FUNDACION ANDALUZA PARA EL [AIR] ES DESARROLLO AEROESPACIAL FUNDACION CENTRO DE TECNOLOGIAS [AIR] ES AERONAUTICAS FUNDACION PARA LA INVESTIGACION, [AIR, LPA] ES DESARROLLO Y APLICACION DE MATERIALES COMPUESTOS FUNDACION TECNALIA RESEARCH & [AIR] ES INNOVATION GE AVIO SRL [ENG, FRC] IT ‒ GE AVIATION CZECH S.R.O. ‒ [ENG] ‒ CZ ‒ POLONIA AERO SP. Z O.O. ‒ [LPA, FRC] ‒ PL LABORATORIUM BADAŃ NAPĘDÓW 1 Disclaimer: The selected participating affiliates (ATP) of Core Partners in the meaning of Clean Sky 2 Joint Undertaking Regulation n° 558/2014 shall be considered Members upon signature of the letter of endorsement of the Statutes. CS-GB-2015-06-23 doc8 CPW01 Accession_Acceptance of membership Page 1 of 2 Core Partners and Affiliated Third Parties ITD/IADP Country (ATP) LOTNICZYCH (ATP) ‒ GENERAL ELECTRIC DEUTSCHLAND ‒ [ENG, FRC, ‒ DE HOLDING GMBH (ATP) LPA] ‒ GE AVIATION SYSTEMS LTD (ATP) ‒ [ENG] ‒ UK ‒ GECP – General Electric Company Polska ‒ [ENG, FRC] ‒ PL Sp.
    [Show full text]
  • The Invention of the Electric Light
    The Invention of the Electric Light B. J. G. van der Kooij This case study is part of the research work in preparation for a doctorate-dissertation to be obtained from the University of Technology, Delft, The Netherlands (www.tudelft.nl). It is one of a series of case studies about “Innovation” under the title “The Invention Series”. About the text—This is a scholarly case study describing the historic developments that resulted in the steam engine. It is based on a large number of historic and contemporary sources. As we did not conduct any research into primary sources, we made use of the efforts of numerous others by citing them quite extensively to preserve the original character of their contributions. Where possible we identified the individual authors of the citations. As some are not identifiable, we identified the source of the text. Facts that are considered to be of a general character in the public domain are not cited. About the pictures—Many of the pictures used in this case study were found at websites accessed through the Internet. Where possible they were traced to their origins, which, when found, were indicated as the source. As most are out of copyright, we feel that the fair use we make of the pictures to illustrate the scholarly case is not an infringement of copyright. Copyright © 2015 B. J. G. van der Kooij Cover art is a line drawing of Edison’s incandescent lamp (US Patent № 223.898) and Jablochkoff’s arc lamp (US Patent № 190.864) (courtesy USPTO). Version 1.1 (April 2015) All rights reserved.
    [Show full text]
  • BAE Undertakings of the Merger Between British Aerospace Plc And
    ELECTRONIC SYSTEMS BUSINESS OF THE GENERAL ELECTRIC COMPANYPLC UNDERTAKINGS GIVEN TO THE SECRETARY OF STATE FOR TRADE AND INDUSTRY BY BRITISH AEROSPACE PLC PURSUANT TO S75G(l) OF THE FAIR TRADING ACT 1973 WHEREAS: (a) On 27 April 1999 British Aerospace pic ("BAE SYSTEMS") agreed with The General Electric Company pic ("GEC") the proposed merger ("the merger") of GEC's defence electronics business Marconi Electronic Systems ("MES") with BAE SYSTEMS; (b) The merger came within the jurisdiction of Council Regulation (EEC) No. 4064/89 on the control of concentrations between undertakings ("the EC Merger Regulation"); (c) Article 296 (ex Article 223) of the EC Treaty permits any Member State to take such measures as it considers necessary to protect its essential security interests which are connected with the production of or trade in arms, munitions and war material; (d) BAE SYSTEMS was requested, under the former Article 223(I)(b) of the EC Treaty, not to notify the military aspects of the merger to the European Commission under the EC Merger Regulation; (e) The military aspects of the merger were consequently considered by Her Majesty's Government under national merger control law; (f) The Secretary of State has power under section 75(1) of the Fair Trading Act 1973 to make a merger reference to the Competition Commission and, under section 7SG(l), to accept undertakings as an alternative to making such a reference; (g) The Secretary of State has requested that the Director General of Fair Trading seek undertakings from BAE SYSTEMS in order to remedy or prevent the adverse effects ofthe merger.
    [Show full text]
  • Some Mechanical Engineering Graduates Have Taken These Career Paths
    Some Mechanical Engineering graduates have taken these career paths: Job Title Employer Job Title Employer Account Executive US Court of Appeals for The Manager of Business Abbott Laboratories Federal Circuit Development Acoustic Engineer The Mint Project Robotic Engineer QinetiQ North America Aerospace Engineer Plainar Systems Metallurgist Engineer RRBC Bearings Associate Director for Ingraham-DeJesse Associates Mechanical Engineer US Consumer Product Safety Design & Development Commission Attorney Boeing Co. Mechanical Engineer Lockheed Martin Corporation Chief Operating/Financial GM Corp. Manager Nuclear Operations Asset Mgmt. Technology, Officer EPRI Professor Stanford University Opto-Mechanical Engineer RF Micro Devices, Inc. Civil Engineer Hewlett-Packard Company Pilot Delta Air Lines Foundation Contract Engineer Intel Corporation President Coastal Business Machines Corvette Assistant Chief R&D Engrg. PC Product Development Greatbatch Incorporated Engineer Engineer Energy Engr. Wyeth Pharmaceuticals Engineering Duty Officer United States Navy Engineer Merrill Lynch Robotics Engr. Fanuc Robotics Environ. Engr. Accenture Safety Engr. Dept. of Energy Facilities Engineer Lexmark International, Software Development Microsoft Corporation Incorporated Engineer in Test Financial Consultant General Electric Aviation Xerographic Engineer Xerox Forensic Engineer Bronx Office of Instructional Instructional Technology US Court of Appeals for The Technology Specialist Federal Circuit Global Managing Director General Electric Company Surface Warfare Officer United States Navy Hardware Engineer Bausch & Lomb, SVP & Chief Nuclear Officer PG&E Diablo Canyon Power Incorporated Plant HR Manager Benet Laboratories Thermal Engineer ITT Space Systems Division Supply Chain Engineer Harris Corporation System Engineering Manager Xerox Acoustic Consultant SSA Acoustics Vice President of Marketing Lindab, Inc. Manager of Automation Plainar Systems Structural Analysis Engineer ITT Geospatial Systems Engineering .
    [Show full text]
  • A Historical Perspective of the Development of British Computer Manufacturers with Particular Reference to Staffordshire
    A historical perspective of the development of British computer manufacturers with particular reference to Staffordshire John Wilcock School of Computing, Staffordshire University Abstract Beginning in the early years of the 20th Century, the report summarises the activities within the English Electric and ICT groups of computer manufacturers, and their constituent groups and successor companies, culminating with the formation of ICL and its successors STC-ICL and Fujitsu-ICL. Particular reference is made to developments within the county of Staffordshire, and to the influence which these companies have had on the teaching of computing at Staffordshire University and its predecessors. 1. After the second world war In Britain several computer research teams were formed in the late 1940s, which concentrated on computer storage techniques. At the University of Manchester, Williams and Kilburn developed the “Williams Tube Store”, which stored binary numbers as electrostatic charges on the inside face of a cathode ray tube. The Manchester University Mark I, Mark II (Mercury 1954) and Atlas (1960) computers were all built and marketed by Ferranti at West Gorton. At Birkbeck College, University of London, an early form of magnetic storage, the “Birkbeck Drum” was constructed. The pedigree of the computers constructed in Staffordshire begins with the story of the EDSAC first generation machine. At the University of Cambridge binary pulses were stored by ultrasound in 2m long columns of mercury, known as tanks, each tank storing 16 words of 35 bits, taking typically 32ms to circulate. Programmers needed to know not only where their data were stored, but when they were available at the top of the delay lines.
    [Show full text]
  • Defence Companies Anti- Corruption Index 2015 Defence Companies Anti-Corruption Index 2015
    DEFENCE COMPANIES ANTI- CORRUPTION INDEX 2015 DEFENCE COMPANIES ANTI-CORRUPTION INDEX 2015 AUTHORS: Katie Fish, Michelle Man, Michael Petkov, Mark Pyman CONTRIBUTORS: Moira Andrews, Louise Fluker, Dessi Hristova, Gareth Somerset, Leah Wawro EXTERNAL PEER REVIEWERS: John Bray, Charles Chadwick, John Howe, Rajesh Kapoor DESIGN: Rational International, Ivo Jongejan © 2015 Transparency International UK. All rights reserved. Reproduction in whole or in parts is permitted, providing that full credit is given to Transparency International UK (TI-UK) and provided that any such reproduction, in whole or in parts, is not sold or incorporated in works that are sold. Written permission must be sought from Transparency International UK if any such reproduction would adapt or modify the original content. Published April 2015 ISBN: 978-1-910778-01-2 Printed on 100% recycled paper. Every effort has been made to verify the accuracy of the information contained in this report. All information was believed to be correct as of April 2015. Nevertheless, Transparency International UK cannot accept responsibility for the consequences of its use for other purposes or in other contexts. Transparency International UK’s registered UK charity number is 1112842. THANKS TI-UK would like to thank all the companies and individuals who have encouraged us to do this study and those who engaged with us throughout the process. We would particularly like to thank those companies that participated in providing internal information. We appreciate that it has involved not only a significant commitment but also a degree of trust on their part and we hope that the result will be a significant improvement across the whole defence industry.
    [Show full text]
  • Supplement to the London Gazette, Sth June 1963 4803
    SUPPLEMENT TO THE LONDON GAZETTE, STH JUNE 1963 4803 John ORDE, Esq. For political services in Basil Ernest STEPHENSON, Esq., Director of Northumberland, Durham and Cumberland. Engineering, Vickers-Armstrongs (Aircraft) Harold Ernest OSBORN, Esq., Comptroller, Ltd. Transport Holding Company. Leonard Thomas George SULLY, Esq., Director Lionel Ernest Conde QSBORNE, Esq., Crown of Contracts, Air Ministry. Estate Surveyor, Crown Estate Office. John Russell THORLBY, Esq. For political and Richard Morris OWEN, Esq., Senior Principal public services in Somerset. Inspector of Taxes, Board of Inland Revenue. John Stewart Ellerman TODD, Esq., Public Ernest Geoffrey PARSONS, Esq., Liaison Officer Works Loan Board Commissioner. to the Minister of Agriculture, Fisheries and Frederick Gerald TRYHORN, Esq., Forensic Food for part of the South Western Region. Science Adviser, Home Office. Max Ferdinand PERUTZ, Esq. For services to John Madder WALLACE, Esq., Lately Chairman research on the molecular shape of haemo- of Board of Governors, Royal Maxsden globin. Hospital, London. John Redvers PROUDFOOT, Esq., General Stanley Tom WARD, Esq. For political and Manager and Secretary, Clyde Navigation public services 'in the Isle of Ely and Trust. Cambridgeshire. William Clark RAMSAY, . Esq., Honorary Charles Alexander WELLS, Esq., M.B., F.R.C.S., Treasurer, Rugby Football Union. Professor of Surgery, University of Liverpool. Ebenezer Mayne REID, Esq. For services to Robert Vaughan WHELPTON, Esq., Deputy Chief Agriculture in Northern Ireland. Scientific Officer, Ministry of Aviation. Harold Gilbert REYNOLDS, Esq., O.B.E., Elected Gabriel Ernest Edward Francis WHITE, Esq., Member representing Eastern Region, National Director of Art, Arts Council of Great Britain. Savings Committee. Miss Cicely Joan WHITTINGTON, O.B.E., Colin RILEY, Esq., O.B.E., Vice Chairman and Director, Overseas Branches Department, General Manager, General Electric Company British Red Cross Society.
    [Show full text]
  • 2020 Annual Report
    2020 Annual Report FORWARD-LOOKING STATEMENTS Some of the information we provide in this document is forward- looking and therefore could change over time to reflect changes in the environment in which GE competes. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/investor-relations/important-forward- looking-statement-information. We do not undertake to update our forward-looking statements. NON-GAAP FINANCIAL MEASURES We sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures can be found on pages 39-43 of the Management’s Discussion and Analysis within our Form 10-K and in GE’s fourth- quarter 2020 earnings materials posted to ge.com/investor, as applicable. INSIDE FRONT COVER GE’s Haliade™-X offshore wind turbine is the world’s most powerful offshore wind turbine in operation today. Shown here, our operating prototype in Rotterdam, Netherlands, broke its own output records in 2020, producing 312 megawatt-hours of energy in a single 24-hour period. COVER Pictured: Healthcare’s Yanmang Zhang in Beijing, China, and Gas Power’s Charles McKinney of Greenville, South Carolina, U.S.A., rise to the challenge of building a world that works.
    [Show full text]
  • English Electric' A.C. Motors
    .y-,-r. -- • ... <,£ DUSTY and T/TTY SITUATIONS 0 ENGLISH ELECTRIC' 3 3 5 HP 7 4 0 RPM OHvirtg End A.C. MOTORS ‘English Electric' Closed Air Circuit Motors possess the advantages oi total enclosure at much less cost than straight totally-enclosed machines. NOTE THESE FEATURES 1-42 HP 9 8 3 RPM * Single Cooler permits terminal box to be fitted at either side of machine * Single Cooler on top of frame allows minimum centre height Straight cylindrical Cooler tubes facilitate cleaning Note the accessibility of the bolt holes in motor feet For further particulars of these and other types of totally-enclosed fan-cooled Motors, apply Aik In te k e 1o Publicity Department, Stafford THE ENGLISH ELECTRIC COMPANY LIMITED London Office: QUEEN'S HOUSE. KINGSWAY. LONDON, W.C.2 WORKS : STAFFORD BRADFORD RUGBY PRESTON E l e c tr ic a l R ev iew June 1, 1945 PROGRESSIVE LEADERSHIP As the original of its type the Stirling bent tube boiler has had more imitations than any other basic design of boiler. T hat it is still the leading boiler of its kind is due to our continual striving for perfection in design, workmanship and service. THE STIRLING BOILER CO., LTD. 9 32-33 FA RR IN G D O N ST., (ÿ |v^N-T^T?i ) L O N D O N , E.C.4. June 1, 1945 E l ectrical R eview 1 THE VALUE O F C O N T R A S T ) The greater the time spent beforehand in improving and simplifying a product—the greater the time (and cost) saved ultimately.
    [Show full text]