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Privatizing

A Social Milestone or Millstone?

by Herbert B. Siegel

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Institution: Columbia Pacific University
Advisor(s): Dr. Tesfaye Ketsela
Degree: Ph.D. International Law
Year: 1999
Volume: 160 pages
ISBN-10: 1581121970
ISBN-13: 9781581121971

Abstract

When politicians redistribute public wealth by privatizing State-Owned Enterprises ( SOE ), they divest themselves of public accountability, and profoundly affect laws, economics, and social behavior. Data gathered from respondents in twenty-eight countries including lawyers, investment bankers, bureaucrats, and educators, identify beneficiaries and victims of privatizing processes. Results are then explained by statistical analysis, concluding with compensatory arrangements that can humanize privatizing.

About The Author

HERBERT B. SIEGEL 854 E. Broadway Long Beach, NY 11561 e-mail: Herb515@rcn.com Executive Summary Certified Professional Management Consultant. Expert Witness in Business, Bankruptcy and International Disputes. Chief Executive Officer of Major Public Companies. Business Appraiser. More than 25 years Experience in Domestic and Multinational Industries. Ph.D. in International Business Law. Academy Certified Diplomate. Author of over 25 Professional Publications and Presentations on Management, Administration, Corporate Finance, Turnarounds, and Privatization. INDUSTRIAL EXPERIENCE 1989 - Present Founder, and Principal Officer, of The Whitestone Consulting Group, Ltd., of New York, California, and Arizona, (www.whitestoneltd.com) a firm of professional management and turnaround consultants providing business services across a wide spectrum of industries. A partial list of our expertise includes electronics, telecommunications, video conferencing, jewelry fabrications, commercial lenders, manufacturers of precision components, electronic assemblies, furniture, and apparel products, retail specialty chains and department stores, multinational corporations, exothermic chemical fractionators, Calcining aggregates, oil refineries, restaurant installations, Multi-national Corporations, and other service providers (Partial list of clients available on request). Professional assignments include expert witness reports and testimony, preparing comprehensive business plans for impending IPOs and investment banking opportunities, strategic marketing studies, merger and acquisition studies, forensic audits and business appraisals, corporate rehabilitation plans, ISO qualifying methodologies, implementing corporate governance policies, intellectual property protection, supply chain and materials handling systems, business valuations, litigation counseling, Privatizing State-Owned enterprises, Comparative legal Systems, Legal systems in radically different cultures, and multi-national reorganization programs. 1983 - 1989 President, and Chief Operating Officer of Deerhill Development Corporation and Subsidiaries (Sales:$250 million): - Seal-Kap Packaging Company, a manufacturer of food and drink containers. - Quaker City Steel Corporation, a quasi-public steel mill and metal products fabricator. - J. Ramsey Reese, Inc., a multiple-facility fabricator of high precision electronic, metal and plastic components. - JRR-BC Buying Consortium, Inc., an outsourced buying agency for Fortune 500 manufacturers. - Columbia Professional Baseball Team, Inc. (NY Mets farm team 1979 - 1982 President and Chief Operating Officer of National Silver Industries, Inc., and Subsidiaries (Sales: $200 million; AMEX symbol: NSI), a multinational import/exporter of precious metals and giftware items, and fabricator of House wares and silver-plated Hollowware. - F.B. Rogers Silver Company - National Silver Company, Inc. - NSI International (Italy, Japan, Taiwan, China, and Columbia) 1971 - 1978 President, Chief Executive Officer, and Trustee in bankruptcy reorganization of Interstate Stores, Inc., name changed to Toys R Us. (Sales: $10.5 billion; NYSE symbol: TRU), a retail chain of 800 specialty stores, 50 major department stores, 125 Topps discount stores, and 125 White-Front discount appliance stores. FORMER OUTSIDE DIRECTORSHIPS - Neisner Bros. Department Stores Court-Appointed Bankruptcy Trustee - National Coin Entertainment, Inc. - Interim President, Amusement Ride Manufacturer - CorpFinance International, Inc. Investment Banker - Fin-Tec Service Corporation Interim Chairman, Manufacturer of Video Phones -The Dime Savings Bank of Williamsburg Chairman: Mortgage, Real Estate Valuation, Auditing, and Executive committees of a $1 billion Savings Bank. - Silver-Gull Realty Corporation Major shareholder in Pacific Rim land developer. - Havemeyer Equities, Inc. Director- Bank holding company for foreclosed real estate -Interstate Department Stores Chairman: Public Holding C