Central Intelligence Agency Outsourcing and privatization



Download 180.31 Kb.
Page1/23
Date16.03.2017
Size180.31 Kb.
#14114
  1   2   3   4   5   6   7   8   9   ...   23
  • Privatization

Central Intelligence Agency Outsourcing and privatization

  • Many of the duties and functions of Intelligence Community activities, not the CIA alone, are being outsourced and privatized. Mike McConnell, former Director of National Intelligence, was about to publicize an investigation report of outsourcing by U.S. intelligence agencies, as required by Congress. However, this report was then classified. Hillhouse speculates that this report includes requirements for the CIA to report:

Central Intelligence Agency Outsourcing and privatization

  • an assessment of the appropriateness of outsourced activities;

Central Intelligence Agency Outsourcing and privatization

Central Intelligence Agency Outsourcing and privatization

  • an evaluation of accountability mechanisms;

Central Intelligence Agency Outsourcing and privatization

  • an evaluation of procedures for "conducting oversight of contractors to ensure identification and prosecution of criminal violations, financial waste, fraud, or other abuses committed by contractors or contract personnel"; and

Central Intelligence Agency Outsourcing and privatization

  • an "identification of best practices of accountability mechanisms within service contracts."

Central Intelligence Agency Outsourcing and privatization

  • According to investigative journalist Tim Shorrock:

Central Intelligence Agency Outsourcing and privatization

  • It's a privatization of the highest order, in which our collective memory and experience in intelligence — our crown jewels of spying, so to speak — are owned by corporate America

Central Intelligence Agency Outsourcing and privatization

  • Congress has required an outsourcing report by March 30, 2008.

Central Intelligence Agency Outsourcing and privatization

  • The Director of National Intelligence has been granted the authority to increase the number of positions (FTEs) on elements in the Intelligence Community by up to 10% should there be a determination that activities performed by a contractor should be done by a US government employee."

Central Intelligence Agency Outsourcing and privatization

  • Part of the contracting problem comes from Congressional restrictions on the number of employees in the IC. According to Hillhouse, this resulted in 70% of the de facto workforce of the CIA's National Clandestine Service being made up of contractors. "After years of contributing to the increasing reliance upon contractors, Congress is now providing a framework for the conversion of contractors into federal government employees—more or less."

Central Intelligence Agency Outsourcing and privatization

Central Intelligence Agency Outsourcing and privatization

  • Some of the cost problems associated with intelligence come from one agency, or even a group within an agency, not accepting the compartmented security practices for individual projects, requiring expensive duplication.

Bell Canada Privatization target

  • Due to its stagnant share price, starting in April 2007, BCE was courted for acquisition by pension funds and private equity groups, including a consortium led by the Canada Pension Plan Investment Board (with Kohlberg Kravis Roberts as one of the participants), a consortium led by the Ontario Teachers' Pension Plan, and a consortium that included Cerberus Capital Management.

Bell Canada Privatization target

  • On June 30, 2007, BCE accepted a bid of $42.75 per share in cash, for a total valuation of $51.7 billion, from the group led by the Ontario Teachers' Pension Plan, and including Providence Equity Partners, Madison Dearborn Partners, Merrill Lynch Global Private Equity, and Toronto-Dominion Bank

Bell Canada Privatization target

  • Due to the tightening of the credit market caused by the subprime mortgage crisis, the investment banks financing the deal—led by Citigroup, Deutsche Bank and the Royal Bank of Scotland—started negotiations on May 16, 2008, to revise the terms of their loans with higher interest rates and greater restrictions to protect themselves

Bell Canada Privatization target

  • On November 26, 2008, BCE announced that KPMG had informed BCE that it would not be able to issue a statement on the solvency of the company after its privatization, one of the required conditions of the buyout. As a result, the purchase was cancelled.

Cloud computing Monopolies and privatization of cyberspace

  • According to him, this access, necessarily mediated through a handful of companies, ensures a progressive privatization of global cyberspace

Public company - Privatization

  • A group of private investors or another company that is privately held can buy out the shareholders of a public company, taking the company private

Public company - Privatization

  • In addition, one publicly traded company may be purchased by one or more publicly traded company(ies), with the bought-out company either becoming a subsidiary or joint venture of the purchaser(s) or ceasing to exist as a separate entity, its former shareholders receiving either cash, shares in the purchasing company or a combination of both

Public company - Privatization

  • Most industrialized jurisdictions have enacted laws and regulations that detail the steps that prospective owners (public or private) must undertake if they wish to take over a publicly traded corporation

Privatization

  • Privatization, also spelled privatisation, may have several meanings. Primarily, it is the process of transferring ownership of a business, enterprise, agency, public service or public property from the public sector (a government) to the private sector, either to a business that operate for a profit or to a nonprofit organization. It may also mean government outsourcing of services or functions to private firms, e.g. revenue collection, law enforcement, and prison management.


Download 180.31 Kb.

Share with your friends:
  1   2   3   4   5   6   7   8   9   ...   23




The database is protected by copyright ©sckool.org 2022
send message

    Main page