Reuters blog archive
from The Great Debate:
As the world marks the 70th anniversary of D-Day this week with films, TV and radio broadcasts and dozens of new books specially published for the occasion, you might think that by now we know everything there is to know about World War Two. Check out any library or bookstore, and the amount of shelf-space dedicated to the 12 years of Hitler’s Third Reich often exceeds that of any other period in history, by far.
Yet even today, one facet of this period continues to be shrouded in obscurity, and still yields new secrets. It is the role, and complicity, of companies in the atrocities committed by the Nazis.
Just last month, two German historians published a detailed account of how the forerunner of automaker Audi AG, Auto Union AG, used concentration camp inmates and dragooned labor at its factories in eastern Germany to produce tank and aircraft engines. About 3,700 inmates of makeshift concentration camps, set up specially for the company by the SS, worked as slave laborers in Zwickau and Chemnitz, alongside 16,500 others who were forcibly conscripted. Moreover, 18,000 inmates of the Flossenbürg concentration camp were put to work to build a massive underground factory for producing tank engines. An estimated 4,500 of those workers died in the process.
While there had been reports in the past about Auto Union’s use of slave labor, the new details went far beyond previous estimates. The historians’ study was financed by Audi itself. “We think we need to be completely open about our past,” says spokesman Jürgen de Graeve. The automaker is altering a permanent exhibition about its history, housed next to its headquarters in Ingolstadt, and de Graeve says Audi intends to make instructional use of the material to teach young employees about the dangers of nationalism and extremism.
from Global Investing:
The world's largest car market, China, with a population of 1.3 billion people and an emerging middle class, holds great potential for investors and consumers alike with annual growth rates in the auto sector expected to hold at around 23 percent to 2017, according to Alliance Bernstein Asset Managers.
Joint ventures (JV), the most popular structure for foreign firms investing in the automobile sector in the world's largest car market, are set to capitalise on a growing consumer base in a country with 3.3 million kilometres of asphalt. Traversing the so-called 'mother' road 312 (China's route 66) is becoming more of an attainable dream for the Chinese consumer.