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86-584: 3M Company (originally the Minnesota Mining and Manufacturing Company ) is an American multinational conglomerate operating in the fields of industry, worker safety, and consumer goods. The company produces over 60,000 products under several brands, including adhesives , abrasives , laminates , passive fire protection , personal protective equipment , window films , paint protection film , electrical, electronic connecting, insulating materials, car-care products, electronic circuits , and optical films. It

172-636: A CA$ 70M deal with the federal government of Canada and the Ontario provincial government to produce N95 masks at their plant in Brockville , Ontario. 3M's general offices, corporate research laboratories, and some division laboratories in the U.S. are in St. Paul, Minnesota. In the United States, 3M operates 80 manufacturing facilities in 29 states , and 125 manufacturing and converting facilities in 37 countries outside

258-590: A sticky note directly to consumers in Boise, Idaho , with 95% of those who tried them indicating they would buy the product. The product was sold as " Post-Its " in 1979 when the rollout introduction began, and was sold across the United States from April 6, 1980. The following year they were launched in Canada and Europe. On April 8, 2002, 3M's 100th anniversary, the company changed its legal name to "3M Company". On September 8, 2008, 3M announced an agreement to acquire Meguiar's,

344-531: A 15 kilometer radius of the plant which includes Antwerp . The Flemish Government has paid 63 million euros for cleanup costs so far with 3M contributing 75,000 euros. The Flemish Government issued measures advising against the consumption of, for example, home-grown eggs within a radius of 5 kilometers. In 2023, 3M reached an agreement to pay a $ 10.3bn settlement with numerous US public water systems to resolve thousands of lawsuits over PFAS contamination. 3M reported Total CO2e emissions (Direct + Indirect) for

430-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

516-571: A car-care products company that was family-owned for over a century. In August 2010, 3M acquired Cogent Systems for $ 943 million, and on October 13, 2010, 3M completed acquisition of Arizant Inc. In December 2011, 3M completed the acquisition of the Winterthur Technology Group, a bonded abrasives company. As of 2012, 3M was one of the 30 companies included in the Dow Jones Industrial Average , added on August 9, 1976, and

602-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

688-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

774-511: A granular activated carbon system to remove PFAS from the ground water was $ 50 to $ 56 million, funded from a $ 147 million environmental reserve set aside in 2006. In 2008, 3M created the Renewable Energy Division within 3M's Industrial and Transportation Business to focus on Energy Generation and Energy Management. In late 2010, the state of Minnesota sued 3M for $ 5 billion in punitive damages, claiming they released PFCs —classified

860-598: A key executive, joined the company in 1907, and A. G. Bush joined in 1909. 3M finally became financially stable in 1916 and was able to pay dividends . The company moved to Saint Paul in 1910, where it remained for 52 years before outgrowing the campus and moving to its current headquarters at 3M Center in Maplewood, Minnesota , in 1962. In 1947, 3M began producing perfluorooctanoic acid (PFOA) by electrochemical fluorination . In 1951, DuPont purchased PFOA from then-Minnesota Mining and Manufacturing Company for use in

946-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

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1032-518: A mining venture in Two Harbors, Minnesota , making their first sale on June 13, 1902. The goal was to mine corundum , but this failed because the mine's mineral holdings were anorthosite , which had no commercial value. Co-founder John Dwan solicited funds in exchange for stock and Edgar Ober and Lucius Ordway took over the company in 1905. The company moved to Duluth and began researching and producing sandpaper products. William L. McKnight , later

1118-547: A prototype machine was brought to the Sound 80 studios in Minneapolis . In 1979 3M introduced a digital audio recording system called "3M Digital Audio Mastering System". In 1980, the company acquired Comtal , a manufacturer of digital image processors . 3M launched "Press 'n Peel" a sticky bookmark page holder in stores in four cities in 1977, but the results were disappointing. A year later 3M instead issued free samples of it as

1204-464: A settlement to pay more than $ 10 billion to US public water systems to resolve claims over the company's contamination of water with PFASs (so-called forever chemicals). It has been revealed that the company knew of the health harms of PFAS in the 1990s, yet concealed these harms and continues to sell contaminated products. Five businessmen founded the Minnesota Mining and Manufacturing Company as

1290-471: A thousand people. By the 1970s, 3M developed a theatrical blood formula based on red colorfast microbeads suspended in a carrier liquid. This stage blood was sold as Nextel Simulated Blood and was used during the production of the 1978 film Dawn of the Dead . It has since been discontinued. In the late 1970s, 3M Mincom was involved in some of the first digital audio recordings to see commercial release when

1376-713: A total enterprise value of $ 1.0 billion. In October 2019, 3M purchased Acelity and its KCI subsidiaries for $ 6.7 billion, including assumption of debt and other adjustments. On May 1, 2020, 3M divested substantially all of its drug delivery business to an affiliate of Altaris Capital Partners, LLC. for approximately $ 650 million, including a 17% interest in the new operating company, Kindeva Drug Delivery. In December 2021, 3M announced that it would merge its food-safety business with food testing and animal healthcare products maker Neogen . The deal, with an enterprise value of about $ 5.3 billion, closed in September 2022. In July 2022,

1462-704: A toxic chemical by the EPA—into local waterways. A settlement for $ 850 million was reached in February 2018. In 2019, 3M, along with the Chemours Company and DuPont , appeared before lawmakers to deny responsibility, with company Senior VP of Corporate Affairs Denise Rutherford arguing that the chemicals pose no human health threats at current levels and that there were no victims. In 2021, research had determined that 3M's Zwijndrecht (Belgium) factory caused PFOS pollution that may be contaminating agricultural products within

1548-481: Is based in Maplewood , a suburb of Saint Paul, Minnesota . 3M made $ 35.4 billion in total sales in 2021 and ranked number 102 in the Fortune 500 list of the largest United States corporations by total revenue. As of 2021, the company had approximately 95,000 employees and operations in more than 70 countries. There are a few international subsidiaries, such as 3M India, 3M Japan, and 3M Canada. In June 2023, 3M reached

1634-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1720-478: Is red food coloring , often inside small balloons coupled with explosive devices called squibs . There are many reasons for substituting for real blood in the film industry, such as ethical and sanitary concerns, and concerns for the emotional well being of the actors. Also, actual blood's tendency to coagulate and solidify quickly make it unsuitable for repeated takes without freshening; the longer-lasting viscosity of stage blood makes it far easier to work with on

1806-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

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1892-809: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

1978-532: The Montreal Protocol by the United States. In the 1980s and 1990s, the company spent fifteen years developing a topical cream delivery technology which led in 1997 to health authority approval and marketing of a symptomatic treatment for genital warts , Aldara . 3M divested its pharmaceutical unit through three deals in 2006, netting more than US$ 2 billion . At the time, 3M Pharmaceuticals comprised about 20% of 3M's healthcare business and employed just over

2064-673: The United States Environmental Protection Agency (EPA) had awarded 3M with the Energy Star Award each year that it has been presented. In 1999, the EPA began investigating perfluorinated chemicals after receiving data on the global distribution and toxicity of perfluorooctanesulfonic acid (PFOS). These materials are part of a broad group of perfluoroalkyl and polyfluoroalkyl substances often referred to as PFAS , each of which has different chemical properties. 3M,

2150-434: The 100,000-patent threshold in 2014. 3M's Pollution Prevention Pays (3P) program was established in 1975. The program initially focused on pollution reduction at the plant level and was expanded to promote recycling and reduce waste across all divisions in 1989. By the early 1990s, approximately 2,500 3P projects decreased the company's total global pollutant generation by 50 percent and saved 3M $ 500–600 million by eliminating

2236-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

2322-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

2408-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

2494-723: The Netherlands and the United States consider actions against 3M. In March 2024, 3M announced the appointment of William "Bill" Brown as chief executive officer to take effect on May 1, 2024. Michael Roman would remain in the role of executive chairman. Brown, 61, is the former chairman of the board and chief executive officer of L3Harris Technologies . As of 2019, 3M produces approximately 60,000 products, and has four business groups focused on safety and industrial, transportation and electronics, health care , and consumer products. 3M obtained its first patent in 1924 and acquires approximately 3,000 new patents annually. The company surpassed

2580-451: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

2666-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

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2752-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

2838-523: The U.S. (in 2017). During March 2016, 3M completed a 400,000-square-foot (37,000 m) research-and-development building on its Maplewood campus that cost $ 150 million. Seven hundred scientists from various divisions occupy the building. They were previously scattered across the campus. 3M hopes concentrating its research and development in this manner will improve collaboration. 3M received $ 9.6 million in local tax increment financing and relief from state sales taxes in order to assist with development of

2924-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

3010-487: The U.S. military. 3M acquired Aearo Technologies in 2008. In May 2016, Moldex-Metric, Inc., a 3M competitor, filed a whistleblower complaint against 3M under the False Claims Act . Moldex-Metric claimed that 3M made false claims to the U.S. government about the safety of its earplugs and that it knew the earplugs had an inherently defective design. In 2018, 3M agreed to pay $ 9.1 million to the U.S. government to resolve

3096-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

3182-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

3268-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3354-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3440-561: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

3526-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

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3612-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

3698-455: The allegations, without admitting liability. Since 2018, more than 140,000 former users of the earplugs (primarily U.S. military veterans) have filed suit against 3M claiming they suffer from hearing loss, tinnitus, and other damage as a consequence of the defective design. Internal emails showed that 3M officials boasted about charging $ 7.63 per piece for the earplugs which cost 85 cents to produce. The company's official response indicated that

3784-419: The area will be "cleaned through a combination of groundwater pump-out wells and soil sediment excavation." The restoration plan was based on an analysis of the company property and surrounding lands. The on-site water treatment facility that handled the plant's post-production water was not capable of removing PFAS, which were released into the nearby Mississippi River. The clean-up cost estimate, which included

3870-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

3956-446: The building. Selected factory detail information: Board chairs have included: William L. McKnight (1949–1966), Bert S. Cross (1966–1970), Harry Heltzer (1970–1975), Raymond H. Herzog (1975–1980), Lewis W. Lehr (1980–1986), Allen F. Jacobson (1986–1991), Livio DeSimone (1991–2001), James McNerney (2001–2005), George W. Buckley (2005–2012), and Inge Thulin (2012–2018). Thulin continued as executive chairman until Michael F. Roman

4042-728: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

4128-650: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

4214-813: The company announced it would spin off its healthcare assets to form a new, independent firm, likely completing the transaction in 2023. 3M will retain an ownership stake of 19.9% in the new, publicly-traded health care company and gradually divest the holdings. The company will be known as Solventum Corporation . In December 2022, the company announced plans to stop producing and using so-called forever chemicals (per and polyfluoroalkyl), which have been commonly used in items such as food packaging, cellphones, nonstick pans, firefighting foams, and clothing. These chemicals are well known for their water-resistant and nonstick properties, but they are also dangerous pollutants that are linked to serious health problems, including ulcerative colitis and cancer. The move comes as governments in

4300-623: The company's supply had already been sold prior to the outbreak. The shortages led to the U.S. government asking 3M to stop exporting US-made N95 respirator masks to Canada and to Latin American countries, and President Donald Trump invoked the Defense Production Act to require 3M to prioritize orders from the federal government. The dispute was resolved when 3M agreed to import more respirators, mostly from its factories in China. 3M later struck

4386-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

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4472-508: The cost to the government includes R&D costs. 3M settled close to 260,000 lawsuits in August 2023 by agreeing to pay $ 6 billion to current and former U.S. military members who were affected. The N95 respirator mask was developed by 3M and approved in 1972. Due to its ability to filter viral particulates, its use was recommended during the COVID-19 pandemic but supply soon became short. Much of

4558-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

4644-476: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

4730-546: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Theatrical blood Theatrical blood , stage blood or fake blood is anything used as a substitute for blood in a theatrical or cinematic performance. For example, in the special effects industry, when a director needs to simulate an actor being shot or cut , a wide variety of chemicals and natural products can be used. The most common

4816-529: The film was in black and white, the color was less important than the consistency. "Kensington Gore" (a pun on the London place and street ) was a trademark for fake blood used in films and in theatre. It was manufactured by a retired British pharmacist, John Tinegate or Tynegate, during the 1960s and 1970s, in the village of Abbotsbury , Dorset . Many varieties of blood, having various degrees of viscosity , shades and textures, were available. Since Tinegate's death,

4902-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

4988-475: The first asthma inhaler , but the company did not enter the pharmaceutical industry until the mid-1960s with the acquisition of Riker Laboratories, moving it from California to Minnesota. 3M retained the Riker Laboratories name for the subsidiary until at least 1985. In the mid-1990s, 3M Pharmaceuticals, as the division came to be called, produced the first CFC -free asthma inhaler in response to adoption of

5074-552: The former primary producer of PFOS from the U.S., announced the phase-out of PFOS, perfluorooctanoic acid , and PFOS-related product production in May 2000. Perfluorinated compounds produced by 3M have been used in non-stick cookware, stain-resistant fabrics, and other products. The Cottage Grove facility manufactured PFAS from the 1940s to 2002. In response to PFAS contamination of the Mississippi River and surrounding area, 3M stated

5160-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

5246-566: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

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5332-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

5418-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

5504-429: The late 1970s, the position was separated into roles for U.S. and international operations. The position overseeing domestic operations was first held by Lehr, followed by John Pitblado from 1979 to 1981, then Jacobson from 1984 to 1991. James A. Thwaits led international operations starting in 1979. Buckley and Thulin were president during 2005–2012, and 2012–2018, respectively. Multinational corporation Most of

5590-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

5676-420: The manufacturing of teflon , a product that brought DuPont a billion-dollar-a-year profit by the 1990s. DuPont referred to PFOA as C8. The original formula for Scotchgard , a water repellent applied to fabrics, was discovered accidentally in 1952 by 3M chemists Patsy Sherman and Samuel Smith . Sales began in 1956, and in 1973 the two chemists received a patent for the formula. In the late 1950s, 3M produced

5762-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

5848-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

5934-460: The name "Kensington Gore" has become a generic term for stage blood. Kensington Gore was used in the film The Shining . Theatrical blood has other applications apart from its use in the film industry. The crime scene investigation science of bloodstain pattern analysis uses stage blood or sometimes cow's blood in mock-up crime scenes when training new investigators. The art of moulage uses theatrical blood in applying mock injuries for

6020-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

6106-571: The production of waste requiring subsequent treatment. In 1983, the Oakdale Dump in Oakdale, Minnesota , was listed as an EPA Superfund site after significant groundwater and soil contamination by VOCs and heavy metals was uncovered. The Oakdale Dump was a 3M dumping site utilized through the 1940s and 1950s. During the 1990s and 2000s, 3M reduced releases of toxic pollutants by 99 percent and greenhouse gas emissions by 72 percent. As of 2012,

6192-480: The purpose of training emergency response teams and other medical and military personnel. Theatrical blood is also popularly used in Halloween costumes and haunted attractions such as haunted houses to portray injury, shot/stab wounds or special effects looks for the purpose of cosmetic entertainment. It is also used in certain horror-themed live action role-playing games . This stagecraft related article

6278-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

6364-423: The set. Fake blood generally consists of the following in various ratios: Tomato ketchup , chocolate syrup and cherry/strawberry topping sauce (to darken, add solid 'chunks' to the texture and increase viscosity) are also common ingredients. Most recipes can cause staining, so the wardrobe should be washed as soon as possible. In the 1960 film Psycho , Bosco Chocolate Syrup was used as fake blood. Since

6450-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

6536-492: The twelve months ending December 31, 2020, at 5,280 Kt (-550 /-9.4% y-o-y) and plans to reduce emissions 50% by 2030 from a 2019 base year. The company also aims achieve carbon neutrality by 2050. The Combat Arms Earplugs, Version 2 (CAEv2), was developed by Aearo Technologies for U.S. military and civilian use. The CAEv2 was a double ended earplug that 3M claimed would offer users different levels of protection. Between 2003 and 2015, these earplugs were standard issue to members of

6622-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

6708-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

6794-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

6880-473: The year of $ 31.657 billion, up from $ 30.109 billion the year before. In 2018, it was reported that the company would pay $ 850 million to end the Minnesota water pollution case concerning perfluorochemicals . On May 25, 2018, Michael F. Roman was appointed CEO by the board of directors. On December 19, 2018, 3M announced it had entered into a definitive agreement to acquire the technology business of M*Modal, for

6966-576: Was 97 on the 2011 Fortune 500 list. On January 3, 2012, it was announced that the Office and Consumer Products Division of Avery Dennison was being bought by 3M for $ 550 million. The transaction was canceled by 3M in September 2012 amid antitrust concerns. In May 2013, 3M sold Scientific Anglers and Ross Reels to Orvis . Ross Reels had been acquired by 3M in 2010. In March 2017, 3M purchased Johnson Controls International Plc's safety gear business, Scott Safety, for $ 2 billion. In 2017, 3M had net sales for

7052-514: Was appointed in 2019. 3M's CEOs have included: Cross (1966–1970), Heltzer (1970–1975), Herzog (1975–1979), Lehr (1979–1986), Jacobson (1986–1991), DeSimone (1991–2001), McNerney (2001–2005), Robert S. Morrison (2005, interim), Buckley (2005–2012), Thulin (2012–2018), and Roman (2018–present). 3M's presidents have included: Edgar B. Ober (1905–1929), McKnight (1929–1949), Richard P. Carlton (1949–1953), Herbert P. Buetow (1953–1963), Cross (1963–1966), Heltzer (1966–1970), and Herzog (1970–1975). In

7138-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

7224-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

7310-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

7396-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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