Criticism
Ricardo B. Salinas is one of Latin America’s leading corporate figures and entrepreneurs, although he has been involved in a series of political and financial scandals (which include investigations by the American Securities and Exchange Commission and the Mexican Comision Nacional Bancaria y de Valores). Mr. Salinas was charged by the American Securities and Exchange Commission in January 2005 with being engaged in an elaborate scheme to conceal Salinas’s role in a series of transactions through which he personally profited by $109 million. The SEC complaint also alleged that Salinas and Padilla sold millions of dollars of TV Azteca stock while Salinas’s self-dealing remained undisclosed to the market place. This was settled in September 2006 with Mr. Salinas required to pay $7.5M while not admitting guilt. He is also accused of taking over with violence the facilities of CNI Canal 40 in 2003. The latter used to be an independent TV channel which broadcast from the north of Mexico City. In February 2012 while representatives of the CFC ( Federal Competition Commission ) were notifying the headquarters of Iusacell their unfavorable resolution against the union between this company and Televisa, lawyers from Iusacell decided to change the physical numbers of the building in order to avoid receiving the notification. In addition, his banks have been accused of abusing microlending practices in Mexico. This is a practice that should help low income people become entrepreneurs but is often abused by charging poor people unreasonable interest rates.
Read more about this topic: Ricardo Salinas Pliego
Famous quotes containing the word criticism:
“Parents sometimes feel that if they don’t criticize their child, their child will never learn. Criticism doesn’t make people want to change; it makes them defensive.”
—Laurence Steinberg (20th century)
“However intense my experience, I am conscious of the presence and criticism of a part of me, which, as it were, is not a part of me, but a spectator, sharing no experience, but taking note of it, and that is no more I than it is you. When the play, it may be the tragedy, of life is over, the spectator goes his way. It was a kind of fiction, a work of the imagination only, so far as he was concerned.”
—Henry David Thoreau (1817–1862)
“It is from the womb of art that criticism was born.”
—Charles Baudelaire (1821–1867)