An electrical fire erupted today in underground utility tunnels near Medford Square, blasting two manhole covers 25 feet upward and sending flames high into the air.
No injuries have been reported and the subterranean fire has been extinguished, but not before knocking out electricity to 7,000 utility customers. More than half of those customers had service restored by early afternoon, but those who remain without power may have a long wait.
Come join the best minds in business, politics and investment as they debate and analyze political risk mitigation strategies at the conference “Managing Political Risk,” which will take place Friday, October 23rd at The Fletcher School, Tufts University. Conference panelists will include OPIC executives Rod Morris, Vice President Political Risk Insurance, and Barbara Day, Acting Vice President Investment Funds.
Sponsored by The Center for Emerging Market Enterprises, the Fletcher Political Risk Forum at The Fletcher School, Tufts University with support from ExxonMobil, this Boston forum will bring together over 100 professionals and feature panels on energy and resource nationalism, business intelligence, investment and trade finance in conflict affected countries, and political risk insurance. Two keynote speakers, Dr. Louis Wells, Professor of International Management at Harvard Business School, and Dr. Llewellyn Howell, Emeritus Professor of International Management at Thunderbird School of Global Management will open the morning and afternoon sessions, respectively.
To register and for more information, including a schedule and list of panelists, please visit: http://fletcher.tufts.edu/politicalrisk09/. For additional insight on the conference content, visit the conference blog at http://blogs.uit.tufts.edu/managingpoliticalrisk/. Registration for this event will close COB Tuesday, October 20th.
OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.
OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 38-year history, OPIC has supported $188 billion worth of investments that have helped developing countries to generate over 830,000 host-country jobs. OPIC projects have also generated $72 billion in U.S. exports and supported more than 273,000 American jobs.
As the largest initial public offering on a U.S. exchange in 18 months, the share sale of Banco Santander (Brazil) will likely attract plenty of demand even as some investors balk at the price of the stock.
* Pepsi Bottling Group, the largest bottler of PepsiCo drinks, will report third-quarter earnings. Investors will no doubt be looking for details regarding the upcoming acquisition of the bottler by PepsiCo.
* Analysts expect Taco Bell, Pizza Hut and KFC parent Yum Brands to report weak third-quarter same-store sales in the United States and China, its largest markets.
* At the Reuters Global Wealth Management Summit expect interviews with JP Morgan Chase U.S. Private Bank CEO Catherine Keating, SG Private Banking Asia CEO for Singapore and South Asia Pierre Baer and HSBC Managing Director and Head of Personal Financial Services Godfrey Swain.
Brazil: Host of the 2016 Olympics. Home to a Professional Diplomatic Corps.
Ambassador of Brazil to the United States Antonio de Aguiar Patriota addressed Brazilian grand strategy and foreign policy developments at the latest Charles Francis Adams Lecture, "Brazil - USA: Bilateral, Regional And Global Dimensions,” on September 30, 2009 at the Fletcher School. The main takeaway was the newly independent character of Brazilian foreign policy, a country which, as Dean Bosworth put it, is proud to have “one of the best foreign services in the world”. He pointed to the fact that Brazil has opened dozens of new embassies, and all of its Ambassadors are professionals, not political appointees.
In comparison to other BRIC countries (Russia, India and China), Brazil is the only one that is self-sufficient in food, water, and energy, just as the U.S. was 150 years ago. It is also the only BRIC in which inequality has decreased. In the social and cultural arena, IBSA (India, Brazil, and South Africa), three large multicultural democracies, have signed a treaty that will increase these countries’ soft power in the upcoming years, as already demonstrated by Brazil’s increasing presence in summits and conferences around the world.
Ambassador Patriota expressed a positive view of the Obama administration’s openness to negotiations with countries with which it has not had a dialogue in the past, such as Trinidad and Tobago. He defined new milestones to explain the U.S.’s wisdom and dominance, which rose with the fall of the Berlin Wall and has faded since the Wall Street collapse. In view of the discussions at the recent G-20 summit in Pittsburgh, he believes that the G-8 is becoming obsolete. It is neither dead nor being replaced by the G-20, but it is on the way to becoming a club for Europe and the U.S. to discuss specific issues. He pointed out that Brazil is a top contributor in the new G-20 group.
Brazil is a vital regional player, maintaining productive relationships with its ten neighbors. Stability, democracy, and economic and social progress are the goals of the triangular diplomacy conducted by Brazil and the US with Latin American and Caribbean countries in order to develop capabilities such as biofuels production.
In response to a question about the proposed U.S. military presence in Colombia, the Ambassador recognized the U.S.’s right to conduct its own military relations with other countries, but stressed that Brazil and others in the region are requesting assurance that U.S. military operations will be restricted to within Colombia’s borders. Colin Canham III, a first-year MIB student, was disappointed by Ambassador Patriota’s response to this question, which failed to address the enormous diplomatic elephant in the room, Venezuela. Nonetheless, Canham was impressed by the fact that Brazil seems poised to take the lead on a new progressive global movement in light of its success in reducing poverty, repaying its debts, and continuing to strengthen trade/finance integration and anti-corruption. Brazil is now “almost” a creditor, has a stable currency, and was largely unaffected by the current financial crisis due to its low degree of dependence on foreign trade.
As Brazilians look forward to hosting the 2016 Olympic Games, they can take pride in a diplomatic corps that is dedicating so much effort to carrying out Brazil’s foreign policy.