Global corporations are merging at a frenzied pace, each hoping to dominate the world
markets in their industry. The larger corporations push out smaller, local businesses
which have roots in the communities they operate in, replacing them with centrally
controlled, unaccountable operations around the world. Mergers are often accompanied
by excitement in the media and Wall Street, yet result in closed factories and layoffs,
and contrary to the original hype, financial difficulties for an extended time. In order
to return to profitibility, the merged corporation must crush the competition (if it
wasn't the competition that the company originally merged with), eliminate high-paying
jobs in favor of low-cost labor, skirt environmental and social obligations, and maximize
saw the mergers of Citicorp and Travelers Group, Netscape and AOL,
Chrysler and Daimler, Exxon and Mobil. In 1999, CBS merged with Viacom,
and MCI merged with Sprint. With the rollback of the Glass-Steagall
Act, more mergers are expected in the banking and insurance industries.
What's Wrong with Mergers?
For more information about corporate accountability in general, try the
Corporate Watch and especially, their
STARC (STudent Alliance to
To help you keep track of the wave of corporate mergers, we've set up a merger tournament among some
of the biggest companies in the country. Since starting the tournament in early 1998, seven
pairs of companies in the tournament have merged, and many others have merged with companies
outside the tournament. Make your prediction of which one will be the last, biggest company,
and see who everyone else has picked!
- You must have the Shockwave
- Just click on the company name out of each pairing that you think will come out on top in a merger.