21 December 2015

Schaefflers Corruption Penalties Global & Not Confined to EU

In a further press release: Schaeffler has stated 230 million euros ($248.7 million) in provisions to cover potential damages claims related to a European Union antitrust lawsuit over price rigging, the company said. However, Schaeffler's stated provision is far from realistic and does not cover a global picture that would include South Korea and many others

Price Fixing is still ongoing, Price Rigging from fake counterfeiting and antitrust Lawsuits in USA EU & Australia are potential criminal minefields for the Schaeffler Group, who with other members of the illegal 'Stopfakebearings' cartel engaged to manipulate widespread global corruption not confined to European Union.

The Stopfakebearings 59 convictions and penalties of $2.4 Billion + Jail sentences + US Supreme Court Indictments could effectively double


18 December 2015

Schaeffler's Future Prosecutions & Penalties - But Not Complete

Today's decision by Germanys Schaeffler Group to declare legal provisions for future Price Fixing Claims of €230 Million (app $270 Million) is only part of many Class Actions and further Price Rigging from false counterfeit claims. No mention in Schaefflers press release on the possibility of Executives jail sentences, the bigger risk will proceed well into 2016/17 when the cartel known as 'Stopfakebearings' will be legally scrutinized and the value of Schaeffler's contribution. This new provision €230 Million ($270 Million) inflates the already convicted sum of $2.4 Billion

Below press release issued by:
EQS Group AG
Karlstraße 47
80333 München

Tel. +49 (0) 89 21 02 98-0
Fax +49 (0) 89 21 02 98-72
E-Mail: newsroom@dgap.de
17.12.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News.
"Schaeffler AG has decided to recognize a provision for legal risks in the amount of EUR230 million. The provision is intended to cover potential claims from third parties in relation to the EU antitrust proceedings that were closed in March 2014.

The company is accounting for the provision as a special item in earnings before interest and taxes (EBIT) in the fourth quarter of 2015. The earnings forecast for the current business year 2015 remains unchanged. The company still expects to achieve an EBIT margin of between 12 and 13 percent before special items for the full year 2015"
http://www.dgap.de/dgap/News/adhoc/schaeffler-schaeffler-bildet-risikovorsorge-fuer-rechtsrisiken/?companyID=375945&newsID=917281


14 December 2015

Wind Funds Blow Against Mining Industry

Worldwide Mining lobbyists suffered a protection loss today after Australia reversed a decision banning its 'Clean Air Fund' from investing in Wind Power projects in the first sign that energy policy will move favorable toward Renewables under new Prime Minister Malcolm Turnbull

It also signals to corrupt Mining & Political cowboys their time has expired, with new legislation for the Clean Energy Finance Corp (CEFC) issued last week a spokesman for Environment Minister Mr Greg Hunt. The shift is the latest from the Australian Government which has also announced a boost to funding innovation startups and dropped a plan to deregulate University funding since the change in leadership three months ago

The former PM Tony Abbott was a vocal critic of Wind Farms, once describing them as ugly & noisy. Under his leadership, a Renewable Energy Target was cut by a fifth this year and $10 Billion CEFC was ordered in June 2015 to stop investing in Wind Farms, the country's second biggest clean energy source after Hydro-power

Although Abbott's anti wind farm decree was never ratified by parliament, it helped stall domestic and international energy sectors that became a global laughing stock with cracks appearing by big business corruption. It is now hoped the Sustainable Energy will continue to grow at good speed without too much bureaucracy from local Councillors

http://www.abc.net.au/news/2015-12-13/abbots-wind-farm-investment-ban-lifted/7024164


1 December 2015

NTN-SNR ROULEMENTS Legal & Penalty Clarification

BearingCode received media inquiries regarding the recent NTN-SNR VOLVO news item. To clarify certain claims made by the NTN-SNR Group and other global legal proceedings against NTN-SNR are now summerized

1. Swedish arbitration ordered NTN-SNR Volvo Powertrain to pay nearly 94 million for low-quality bearings. NTN reserved 57.7 million in penalty however the amount ordered increased to 94. This amount becomes sensitive as it corresponds to almost 10% of annual revenue, further damages to Volvo are expected in future years

2. NTN-SNR and its subsidiaries in the U.S. and Canada are defendants in a number of global Class Action suits. These documents are now available in USA /(SPS_Spindle)_212-cv-13142.pdf Canada http://www.classaction.ca/CMSFiles/PDF/PriceFixing/AutoParts/Bearings_Statement_of_Claim.pdf

3. NTN-SNR are alleged in making False and Misleading Counterfeit Bearing Claims of significant value but not included in Financials
157-2014-07-29-ncis-ntn-conduct-counterfeiting-raid-in-charlston-sc-ncis-ntn-conduct-counterfeiting-raid-in-charlston-sc-press-release

4. Listed below - Financial Report for the 1st Half of Fiscal Year 2015 Ended September 30, 2015 (Consolidated)

(Balance Sheet)
Contingent liabilities
(Launch of arbitration proceedings related to compensation for damages)
NTN-SNR ROULEMENTS (hereinafter referred to as NTN-SNR), our consolidated subsidiary, has been involved in arbitration proceedings since November 2012. One automotive customer submitted a claim to arbitration and requested the payment in the amount of 57,774 thousand US dollars (6,930 million yen equivalent at the rate of the end of the second quarter of this consolidated fiscal year) for damages due to allegedly defective products provided by NTN-SNR. With subsequent arbitration proceedings, the claim for damages has been revised to 9,305 million yen (equivalent at the rate of the end of the second quarter of this consolidated fiscal year) due to the increase in the number of allegedly defective bearings. We have presented counterarguments appropriately against such claim, and currently, the arbitration procedure is left with only the ruling. Depending on the results of the ruling, the results of operations of the Company and its consolidated subsidiaries could be affected. However, it is currently difficult to make reasonable estimates of the future possible effects on the results of operations and financial positions of the Company and its consolidated subsidiaries.

(Statement of income)
*1 In August 2014, the Company's consolidated subsidiary in China and the Company, as parent company, received an order from the National Development and Reform Commission to pay fines of 119,160 thousand RMB for alleged violations of the Anti-Monopoly Law of China in relation to bearings transactions in China. During the previous consolidated first half, the Company recorded 2,006 million yen under extraordinary losses as a loss pertaining to Anti-monopoly act.

Supplemental Information
(1) Lawsuits, etc.
1) In June 2012, the Company and former executives received an indictment filed by the Tokyo District Prosecutors Office ("TDPO") on suspicion of having violated the Anti-monopoly Act in relation to domestic sale of bearings. In March 2013, the Company received a cease and desist order and surcharge payment order (for 7,231 million yen) from the Japan Fair Trade Commission ("JFTC"). Because the assertions by the JFTC are greatly different from the Company's view of the facts, in April 2013, the Company appealed the JFTC orders. As a result, hearing proceedings for the JFTC orders were commenced in September 2013. The Company paid provisionally the surcharge in full before the deadline of payment to avoid a risk of overdue charges. In addition, a criminal trial was commenced in December 2013, and on February 4, 2015, NTN was sentenced to a penalty of 400 million yen by Tokyo District Court for violation of the Anti-monopoly Act of Japan with respect to the domestic sales of bearings. In addition, two former executives of NTN were sentenced to 18 months and 12 months in prison, respectively, with a stay of execution for 3 years. In response, the Company has appealed against such judgment and the criminal case is still pending at the Tokyo High Court. There are ongoing investigations by the authorities into our consolidated subsidiaries in South Korea and elsewhere.

2) The Company and its subsidiaries in the U.S. and Canada are defendants in a number of class action suits.


30 November 2015

False Claims of Counterfeit Bearings is Price Rigging

Making a False or Fake Counterfeit Bearing Claim is interpreted as Price Rigging according to legal advice and if convicted, can be penalized for both Fraud and Price Fixing

There is evidence to suggest an increase in False Counterfeit claims made by both Manufacturer and Distributor, in particular the Schaeffler Group and now from UK dealer http://news.bearingnet.net/industrys-war-counterfeit-bearings/

There is little or no evidence of counterfeit bearings having commercial value found in recent time. There are allegations of wrongful charges involving Fake Bearings in USA Europe & Australia and there are investigations of bearing manufacturers malpractices awaiting legal hearing globally

BearingNet UK who are now controlled by Bearing Manufacturers 'Stopfakebearings/WBA' running the same False Counterfeit bearing program with many Distributors who can be briefed. In other words, a 2 pronged propaganda attack on false fake and misleading claims, albeit illegal

False Counterfeit Claims are clear by definition; to make public a predetermined statement of an unsubstantiated event without fact and without a signed Police report, to gain an unfair consumer advantage, to eliminate competitors, to falsely Perceive a Duty of Care, to provide the basis for Price Increases or known as Price Fixing and create the impression of high quality high in demand products

Recently, the Bearing Industry has suffered a significant loss with Price Fixing by Stopfakebearing members SKF SCHAEFFLER NTN NSK KOYO NACHI and MINEBEA. Their Penalties include 59 Convictions in 2 years, $2.4 Billion in Fines, 7 Executives Jail sentences, 2 Executives Indicted by US Grand Jury and 2 further worldwide Court hearings to follow. These manufacturers have violated many Codes and are constantly monitored for further acts of Price Rigging and other related corporate crime


22 November 2015

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15 November 2015

NTN-SNR Legal Decisions + Multi Million Penalties

With legal action still mounting against Japanese bearing manufacturer NTN-SNR group, extraordinary million dollar Penalties and Convictions keep rolling in for this global player who continue to flout with the Law.


NTN-SNR ROULEMENTS (hereinafter referred to as "NTN-SNR"), the consolidated subsidiary of NTN Corporation, received the final award from Arbitration Institute of the Stockholm Chamber of Commerce (the Arbitral Tribunal) in relation to the arbitration proceeding regarding the problem of the bearings between NTN-SNR and Volvo Powertrain AB of Europe

On November 12, 2015, the Arbitration Institute of the Stockholm Chamber of Commerce handed Volvo Powertrain AB $94.2 million in the fight over bearings manufactured by NTN-SNR Roulements, the European subsidiary of Tokyo-based NTN Corp. While the automaker called the parts defective, NTN-SNR had defended the components to the tribunal.

Volvo was awarded more than $94 million from Japanese auto parts maker NTN-SNR after a three-year dispute over bearings that weren't up to Volvo's specifications, according to statements from the companies

This NTN-SNR Arbitration decision is an additional penalty to the March 2014 Corruption fine of €200,000,000 issued by the EU Commission, with further disputes against NTN-SNR continuing in the Tokyo Courts by Japan's Fair Trade Commission and forthcoming proceedings by DOJ in USA
http://europa.eu/rapid/press-release_IP-14-280_en.htm



European Commission
Press release

Brussels, 19 March 2014
Antitrust: Commission fines producers of car and truck bearings € 953 million in cartel settlement

The European Commission has found that two European companies (SKF and Schaeffler) and four Japanese companies (JTEKT, NSK, NFC and NTN with its French subsidiary NTN-SNR) operated a cartel in the market for automotive bearings. The Commission has imposed fines totalling € 953 306 000. Automotive bearings are used by car, truck and car part manufacturers to reduce friction between moving parts inside a vehicle.

Cars and trucks contain numerous bearings, for example wheel bearings, bearings for gearbox, transmission, alternator or air conditioning systems. The companies colluded to secretly coordinate their pricing strategy vis-à-vis automotive customers for more than seven years, from April 2004 until July 2011, in the whole European Economic Area (EEA).

9 November 2015

WIND RESOURCE ASSESSMENT AND CHARACTERIZATION

A crucial factor in the development, siting, and operation of a wind farm is the ability to assess and characterize available wind resources. The Wind Program supports efforts to accurately define, measure, and forecast the nation's land-based and offshore wind resources. More accurate prediction and measurement of wind speed and direction allow wind farms to supply clean, renewable power to businesses and homeowners at lower costs. The program is leading a portfolio of wind integration, transmission, and resource assessment and characterization projects that will help the industry understand how to reliably integrate large quantities of wind energy into system operations, as well as develop capabilities that will enable these new wind installations to actively improve the quality of electric grid. Report for publication to BearingCode


POTENTIAL WIND CAPACITY MAPS


The map shown above identifies areas throughout the country that have an average wind energy capacity factor of 35% or greater at a turbine hub height of 140 meters (459 feet), representing planned turbine advancements. An additional map identifies areas with the same potential capacity at a turbine hub height of 110 meters (361 feet), representing recent advancements in turbine technology. The Energy Department's report, Enabling Wind Power Nationwide, confirms that the key to unlocking wind energy's potential in all 50 states is to access the stronger and more consistent winds found at increased heights above the ground.

LAND-BASED AND OFFSHORE WIND RESOURCE MAP


The map shown above provides wind developers and policy makers with a seamless representation of the wind resources estimated at a 80 m height for all 50 states—the 48 contiguous states, Alaska, and Hawaii—as well as offshore resources up to 50 nautical miles from shore. A technical wind resource assessment completed by the Wind Program in 2009 estimated that the land-based wind energy potential for the contiguous United States is 10,500 gigawatt (GW) capacity at 80 meters (m) and 12,000 GW capacity at 100 m heights, assuming a capacity factor of at least 30%.

A 2010 report estimates the technical offshore wind energy potential to be 4,150 GW. The estimate was calculated from the total offshore area within 50 nautical miles of shore in areas where average annual wind speeds are at least 7 m per second at a height of 90 m.

For state-level wind resource maps, see the WINDExchange website. View more online maps and download wind datasets from the Energy Department's National Renewable Energy Laboratory. Learn more about wind resource potential.

FEDERAL PARTNERSHIPS

The Energy Department's Wind Program works with other government agencies, universities and industry members to assess and characterize U.S. wind resources. Assessment results are then made publicly available, enabling the wind industry to identify areas best suited for the development of future land-based and offshore wind farms.

WEATHER-DEPENDENT AND OCEANIC RENEWABLE ENERGY RESOURCE CHARACTERIZATION

In Fiscal Year 2011, the Energy Department's Office of Energy Efficiency and Renewable Energy signed a Memorandum of Understanding (MOU) with the Commerce Department's National Oceanic and Atmospheric Administration (NOAA) for Weather-Dependent and Oceanic Renewable Energy Resource Characterization to enhance the accuracy, precision, and completeness of resource information for wind and water energy technologies. In combining the technical expertise of the Energy Department with NOAA's advanced capabilities in the prediction, mapping, and forecasting of oceanic and atmospheric conditions, the two agencies work to develop the safe and efficient use of weather-dependent and oceanic renewable energy technologies.

COORDINATED DEPLOYMENT OF OFFSHORE WIND AND MARINE AND HYDROKINETIC ENERGY ON THE U.S. OUTER CONTINENTAL SHELF

In 2010, the Energy Department's Office of Energy Efficiency and Renewable Energy signed an MOU with the Interior Department's Bureau of Ocean Energy Management for the Coordinated Deployment of Offshore Wind and Marine and Hydrokinetic Energy on the U.S. Outer Continental Shelf. The MOU established working groups of agency staff to work together on addressing specific topic areas necessary for the deployment of offshore energy systems. The Resource Assessment and Design Conditions Working Group coordinates research activities to increase our understanding of core atmospheric and oceanic conditions relevant to offshore renewable energy.

Involved federal partners: U.S. Department of Energy, U.S. Department of Commerce, U.S. Department of the Interior, U.S. Department of Defense, National Aeronautics and Space Administration, National Science Foundation, and Executive Office of the President

FEATURED PROJECTS

WIND FORECAST IMPROVEMENT PROJECT

The Wind Program and NOAA co-fund a Wind Forecast Improvement Project (WFIP) that uses targeted wind observations and advanced forecast models and algorithms to help manage the contribution of wind energy to electricity grids. The final report from the first phase of the project is available. The second phase of the project, WFIP 2, is focusing on the atmospheric processes that generate wind in mountain-valley regions. Fieldwork for WFIP 2 began in fall 2015.

OFFSHORE RESOURCE ASSESSMENT AND DESIGN CONDITIONS

The offshore energy industry requires accurate meteorological and oceanographic information to evaluate the energy potential, economic viability, and engineering requirements of offshore energy project sites. The Wind Program is working to address these needs through data dissemination, instrumentation and observational improvements, and next-generation tool development. DOE's public meeting on resource assessment and design conditions was the first step in addressing these information gaps and helped to shape a path forward for future priorities.

As a subsequent step, the program funded AWS Truepower to develop a Web-based, searchable, national met-ocean wind energy resource and design conditions data inventory, the U.S. Met-Ocean Data Center for Offshore Renewable Energy (USMODCORE). The data inventory incorporates resources from federal agencies, state governments, regional alliances, research institutions, commercial projects, and international organizations.

Additionally, the Energy Department's WindSentinel wind resource characterization buoys will provide long-term offshore wind profile data that will support research needed to accelerate the utilization of offshore wind energy in the United States. December 2015 marks the one-year anniversary of deploying a buoy off the coast of Virginia Beach, Virginia in support of Dominion Virginia Power's Advanced Technology Demonstration Project. This year-long data set contains atmospheric, wind speed, wind direction, and wave measurements that play an important role in both wind farm design and in securing project financing. The second buoy deployed off the coast of Atlantic City, New Jersey, in November 2015.

ATMOSPHERE TO ELECTRONS INITIATIVE

Wind farm underperformance, currently as high as 20% in some cases, presents a large opportunity for the Wind Program to increase the performance of wind farms and reduce the cost of wind power. To address this opportunity, the Program is studying the multi-scale aerodynamics impacting wind plant performance in modern land-based and offshore wind farms. The Program's Atmosphere to Electrons (A2e) initiative spans several spatial scales, from global and regional wind flows to flows into individual wind turbines and rotor blades. The A2e initiative targets significant reductions in the cost of wind energy through an improved understanding of the complex physics governing wind flow into and through wind farms. In support of these efforts, the program organized a two-day workshop in early 2012 to identify research needs and challenges relating to the study of wind into and out of the wind turbine environment, as well as the resulting impacts on the mechanical workings of individual wind turbines. The results of this workshop are documented in the Program's Complex Flow Workshop Report

26 October 2015

Bearing Industry History in the Making

Big response to last weeks Bearingcode news re Police reports essential for counterfeit bearing claims and the illegal operations of Stopfakebearings/World Bearing Association. A wide range of Industry & Government sectors viewed this story globally and advise positive action is forthcoming to change the corrupt bearing business practiced by those who continue to flout the Law

A further response came from Melbourne University in Australia (World rank 19th) stated that 'Chaos Theory' an elective academic study has a remedy to those executives who like disruption and at times appear to succeed with assistance of big business http://whatis.techtarget.com/definition/chaos-theory or in this case face legal & class action prosecution.

Another comment recommends every Executive attend an anti-corruption training course be mandatory to combat continuous white collar crime, while Bearing Price Rigging, Fake Counterfeiting, False Statements, Deception & Secret 7 Cartel Meetings be targeted


Corruption bears no Transparency and the secret BEARINGNET UK acquisition by SKF and members of Stopfakebearings/WBA to gather stock movements and other highly subjective corporate material owned by many independent bearing distributors should be condemned. If a media notice dated & post-scripted were published to advise the Bearing industry of this M&A then fair business practice could be accepted or at least by Law; but to secretly obtain a competitive advantage without the necessary notification can only be viewed as Corruption. Many dealers are still unaware of the BEARINGNET UK takeover www.bearingnet.net

And the first known false counterfeit 'heist' January 2007 by Schaeffler and SKF contained no Police Report no Court Proceedings but plenty of free media attention to capture the worlds attention of the biggest bearing fraud in History, remaining an Industry precedent not only for bearings but for legal proceedings in general

19 October 2015

Claims of Counterfeit Bearings Police Reports Essential

The Asian Banking & Financial Penal Code is facing police procedural matters according to the Malaysian Magistrates Court, 15 October 2015

Two senior lawyers under prosecution have been given leave by the Courts to scrutinize Police Reports stating "the purpose is to enable Police to further investigate complaints"
http://www.thestar.com.my/News/Nation/2015/10/15/Lodging-report-is-not-sabotage-Chang-The-purpose-is-to-enable-police-to-investigate-complaints/

The Asian case, KL lawyer Mr. Matthias Chang stated: "The purpose of lodging a Police Report is to enable the Police or other agencies to commence investigations into complaints contained in the Police Report"

The allegations of Fake Counterfeit Bearing claims against Schaeffler and the 6 other members of Stopfakebearings/World Bearing Association have yet to discover Police Reports for investigation by other agencies. Allegations of Counterfeit product require a Police Report, and further forensic analyses may take many months to conclude - Unsubstantiated counterfeit bearing claims have created divisions among many in the Industry from unfair advantage to price hiking and the recent legal proceedings with 59 global convictions, US$2.4 Billion in penalties and Executive jail sentences

In the matter of Volkswagen Germany & subsidiaries for global 'Fake Emission Controls' costing an estimated US$18 Billion, VW have made an early guilty plea and recent findings suggest this Fiasco was controlled by only 10 Executives.

In the matter of Schaeffler & Stopfakebearings/WBA they continue with alleged 'Fake Counterfeit Claims' and have resorted to magazine journalists to write articles on their behalf.

Both VW 'Fake Emission Controls' and Bearing 'Fake Counterfeit Claims' are identical in Terminology Meaning Deception Illegal

https://en.wikipedia.org/wiki/Making_false_statements
10 October 2015

Wind power now UK's cheapest source of electricity - but the Government continues to resist onshore turbines

New figures show they not only produce cheaper energy than coal, oil or gas power stations, but also remain far cheaper than offshore turbines. This statistical information is vitally important to the Bearing Industry and confirm future investment planning


Onshore wind farms are more competitive against established generation technologies than would have seemed possible only five or 10 years ago

Onshore wind energy has become cheaper than electricity from any other source in the UK for the first time, in what could be a landmark moment for renewable energy in Britain.

Yet the Government has been accused of scuppering Britain's best chance of meeting the country's ambitious environmental targets through its continued resistance to onshore turbines, despite growing evidence that they are the most affordable option.

However, new figures show they not only produce cheaper energy than coal, oil or gas power stations, but also remain far cheaper than offshore turbines, which the Government is championing.

The cost of onshore wind power has fallen from $108 (£70.20) per megawatt hour (mWh) a year ago to $85 today, as they become more efficient and cheaper to build.

Over the same period, coal-fired power stations have seen their costs rocket from nearly $98 mWh to $115 and gas from $100 to $114, after the EU agreed new rules that will greatly increase the amount they must pay for their carbon emissions. Offshore wind costs $175 mWh, according to the research, by Bloomberg New Energy Finance.

There's still a tendency for the general public to believe that renewables are really expensive
Seb Henbest, Bloomberg

A steep decline in borrowing costs, with bank lending rates hovering around all-time lows, is also much more beneficial for wind farms than for fossil-fuel plants. This is because far more of the cost of renewable energy projects relate to their construction, which is funded by loans.

"There's still a tendency for the general public to believe that renewables are really expensive, while coal and gas are really cheap," said Seb Henbest, of Bloomberg, which conducted the research. "This is how it used to be not so long ago, but over the past five years technology costs have come down significantly, along with financing costs."

But campaigners say the Conservative Government has made it considerably more difficult for new onshore wind farms to be built since it took office. They argue that, while onshore wind may now be the cheapest energy source, it could still benefit from subsidies and point out that nuclear power and fossil-fuel power plants also receive government support.

"There is no technology in the UK system at the moment that doesn't receive subsidies," said Jimmy Aldridge, a research fellow for energy and climate change at the IPPR think-tank. "There are new subsidies at the moment to pay for coal, gas and nuclear to compensate for the fact that the business case for those technologies has changed in response to new cheaper renewable technologies."

The Government has agreed a deal with EDF that would guarantee the Big Six energy provider £92.50 per megawatt hour of electricity it generates, rising with inflation, up to 2061. This amounts to nearly three times the current price and is likely to amount to an effective subsidy of billions of pounds.

Meanwhile, ageing coal, gas and nuclear power generators will be paid an extra £1bn in 2018 alone for guaranteeing to stay open and keep the lights on, Mr Aldridge said.

Friends of the Earth chief executive Craig Bennett said: "If the Government wants to see lots of investment in the cheapest form of low-carbon energy to help us tackle climate change, then the fastest way to do that would be to offer a bit of subsidy to reduce the investment risk."


Craig Bennett, Friends of the Earth's chief executive (Teri Pengilley)

He said recent government cuts to solar subsidies would further undermine Britain's attempts to green its energy supply – along with the prospect of creating a lucrative renewable-energy industry.

"Just when we're probably five years away from solar really being able to compete with fossil fuels on price, you see the Government pulling the rug from under solar," he said.

"The point with renewable energy as a whole is that it is getting cheap as it gets to scale and as it becomes ever more successful but for that to happen you need the Government to support it."

A spokesman for the Department for Energy and Climate Change said: "Government support has driven down the cost of renewable energy significantly, enabling renewables to compete with other technologies… Our priority is now to move towards a low-carbon economy whilst ensuring subsidies are used where they are needed most, to provide the best value for money for hardworking bill payers."

Wind energy: Dispelling the myths

  • Wind turbines kill bats and birds: that is true but these deaths pale into insignificance compared to windows, tall buildings, power lines and cats.
  • Wind turbines are intermittent – because the wind doesn't blow all the time they don't provide a constant source of power: there is some truth in this, but wind farms generate electricity about 80 to 85 per cent of the time.
  • They are noisy: they do make a swooshing sound but improving technology is creating ever-quieter blades.
  • They are unsafe: despite scare stories about a turbine blade flying off there are very few cases of this happening.
  • They are a blot on the landscape: much of the time this seems like a classic Nimby excuse but there are some cases where wind turbines could ruin the character of a unique area.

More about:
Green Energy
Conservative Party
Wind Power

27 September 2015

Volkswagen Deliberate Deception Joins the Infamous

The global VW scandal maybe media headlines for some time but the fall out will shake Regulators Law Institutions Governments & Related Industries for years, let alone the family thinking for purchasing their dream vehicle only to be duped. There is a theme lacking with VW that applies to every Corporate Executive who is flouting legal standards: "Transparency Transparency Transparency"

The UK Daily telegraph raises further problems for the brands VW and Germany, the extent of economics and image of tactical support given by Stakeholders http://www.telegraph.co.uk/finance/economics/11880921/Made-in-Germany-lies-in-the-gutter-after-Volkswagen-caught-cheating.html

Volkswagen now joins the global club of 'Mass Deception' whose members just a couple of years ago were very much reputable household industry names only fallen from grace due to widespread Corruption and constant denial. The idea to stop media headlines by convicted corporations without a social or moral strategy flies in the face of further Imminent Corruption

FIFA who could do no wrong appears to have hooked many criminals operating the game of Football, now appear to hook the big fish who constantly denies wrongful play. Sepp Blatter has accumulated many famous & infamous friends but this time appears a lone wolf in front of the pack. This FIFA saga is a global media phenomenon without a strategy to clear its reputation, if that's possible, and will be front page news for a long period

The Bearing Industry corruption also lacks a positive antidote, the recent Korean Indictment of MINEBEA Bearings is the first bearing Corporation to face a Grand Jury, although individual bearing executives have fled & gone into hiding from receiving their documents. Then the continuous Counterfeit/Fake bearing media releases by some who want headlines only to face mounting legal challenges, the latest media report 0802_001.pdf only strengthens the case for Prosecutors.

The Bearing Class Action Statement (SPS_Spindle)_212-cv-13142.pdf endorsed by 21 US Lawyers, item 60 states "The WBA likewise initiated a campaign, "Stop Fake Bearings," (found online at http://www.stopfakebearings.com) ostensibly to identify and prevent counterfeiting in the bearings industry. However, upon information and belief, this was a sham campaign, developed by the WBA solely so that its members could maintain their illegally attained hold on the worldwide bearing market".

The global Banks led by HSBC have recaptured media outlets from the above cases with corrupt comparisons of the LIBOR UK affair, rigging exchange rates and the huge bonus paid to Executive board members that caught the imagination of US Presidential candidate Mr. Donald Trump who has stated publicly all CEO & Bank Executive pay is outrageous and will be reduced accordingly, if elected. Its believed Mr Trump is not the first to make these remarks, but in these times are surely vote catchers

19 September 2015

Aircraft Bearing Group SAE Bearing Conference Agenda

The ACBG-SAE Bearing Conference is opened to Members & Visitors and serves a vital role for Bearing Controls in Aviation Manufacturing

Conference Agenda

ACBG General Session – Wednesday, October 7, 2015

Chair – F. Gyuricsko
October 6 - 8, 2015 – Tucson, AZ. USA

8:30 AM Introductions F. Gyuricsko (Chair) RBC Bearing Group M. Matrazzo (Vice-Chair)
Membership Review
Members are reminded of the following excerpt from the SAE Committee Guidelines Manual that members "carry out their SAE responsibilities as individuals, not as representatives of their employers."

Members are expected to attend meetings and participate in the discussions, accept project assignments within their field of expertise and carry out such assignments expeditiously, and to answer all survey ballots on time or request an extension of time.

Roll Call of Members
The Vice-Chairman will call the roll of the committee members and record those present or represented. Members arriving late should notify the chair of their presence. All members and guests should check off or fill in their names on the computer roster sheet that will be circulated during the meeting and also make corrections and additions to addresses, telephone and FAX numbers, and e-mail addresses.

ATTENDEES______
VOTING MEMBERS______
CONSULTANTS______
SAE______

Approval of Meeting Minutes
29 April 2015, Kitty Hawk, NC

Announcements
Banquet arrangements for Wed dinner F. Gyuricsko
8:40 AM SAE Report S. Khunti
8:50 AM NEW BUSINESS F. Gyuricsko
Members, consultants, and guests are encouraged to introduce new items, questions, or simply present information felt to be of interest to the committee.
8:50 AM Lubrication Technology Presentation: T. Blunt
An informative technical presentation will be provided on Advanced Lubricants perform and relate to Aerospace Standards.
9:30 AM Procurement Document Standardization J. Mathis/M. Simpson
Working Group: F. Gyuricsko, J. Mathis, B. Weber, M Simpson, Disselkamp, M. Matrazzo, R. Thomas, D. Boston, T. Orr, R. Maybaum, T. Mulhollen, K. Morris.

Scope: Develop standardized requirements for procurement documents including part marking, individual package labeling, and qualification.

Status: Spring 2015 – Project Assigned Fall 2015 – Report

10:00 AM BREAK TIME (15 minutes)
10:15 AM ACBG Meetings B. Weber
Location History
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Spring
San Diego, CA
Orlando, FL
Charleston, SC
San Antonio, TX
Tamp, FL
San Diego, CA
New Orleans, LA
Orlando, FL
Nashville, TN
Las Vegas, NV
Colorado Springs, CO
San Francisco, CA
San Antonio, TX
San Diego, CA
Savannah, GA
Kitty Hawk, NC
Fall (Hosted)
Mesa, AZ- Boeing Helicopter
Fort Worth, TX - Bell Helicopter
Seattle, WA - Boeing
Mesa, AZ – Boeing Helicopter
Seattle, WA - Boeing
Patuxent River, MD - NavAir
Jacksonville, FL – Navy facility
Los Angeles, CA – SAE Conference
Everett, WA – Boeing
Montréal, Québec - Bombardier
Stanford, CT - Sikorsky
Fort Worth, TX - Bell Helicopter
Patuxent River, MD – NavAir
Patuxent River, MD - NavAir
Renton, WA, - Boeing
Tucson, AZ – SAE Sponsored
Upcoming Locations
2016
2017
2018
2019
2020
2021
Lake Tahoe, NV
New Orleans, LA
Cape Canaveral, FL
Portland, OR
Boston, MA
Anchorage AK
Key West, FL
Wichita, KS, Montreal or Key West NAS
Lockheed Martin
Ridley Park, PA - Boeing Helicopter
Charleston, SC – Boeing
10:30 AM ACBG Officer Election M. Matrazzo
Next Election ballots are being held April 2016 for ACBG-1 Plain Bearings.

ACBG Officer Elections      (2018, 2021, 2024, 2027…)
ACBG-1 Officer Elections      (2016, 2019, 2022, 2025…)
ACBG-2 Officer Elections      (2017, 2020, 2023, 2026…)

ACBG Officers

ACBG General (2015-2018)
F. Gyuricsko      ACBG Chairperson
M. Matrazzo      ACBG Vice Chairperson

ACBG-1 Plain Bearings (2013-2016)
B. Weber      ACBG-1 Chairperson
B. Arbiture      ACBG-1 Vice Chairperson

ACBG-2 Rolling Element Bearings (2014-2017)
J. Collins      ACBG-2 Chairperson
J. Labermeier      ACBG-2 Vice Chairperson

10:35 AM Cadmium Plating Migration J. Mathis
Working Group: J. Mathis

Scope: Airframe manufacturers' processes to eliminate Cadmium from the airframe.

Status: Spring 2012 – Project Assigned
Fall 2012 - Status
Spring 2013 – Status
Fall 2013 - Status
Spring 2014 – Status
Fall 2014 - Status
Spring 2015 – Status
Fall 2015 - Report


10:50 AM Copper Beryllium Replacement J. Mathis
Working Group: J. Mathis

Replacement of CuBe

Spring 2015 – Status
Fall 2015 - Report

11:00 AM Shelf life F. Gyuricsko
Working Group: F. Gyuricsko, J. Mathis, B. Weber, M Simpson, E. Oman, P. Obrien, J. Collings, Myron, Troy, S. McNeal, D. Wells, E. Disselkamp, M. Matrazzo, R. Thomas, D. Boston.

Scope: Recommended time for deliver to and the shelf life of plain and rolling element bearings. Customers and end-users confuse the "deliver by" date as the "install by" date causing rejection of valid bearings and unrealistic expectations. Defining an "install by" date would reduce rejections and unnecessary bearing rework (re-lube).

Status: Fall 2013 – Project Assigned
Spring 2014 – Ed Disselkamp added
Fall 2014 – Status
Spring 2015 – Status
Fall 2015 - Report


11:30 AM Committee Rosters F. Gyuricsko
Working Group: ACBG, ACBG-1 and ACBG-2 Officers

Scope: Membership rosters to be cleaned up every spring meeting by the committee officers.

Status: Fall 2012 – Project Assigned
Spring 2013 – Status
Fall 2013 – Status
Spring 2014 – Status
Fall 2014 – Status
Spring 2015 – Status
Fall 2015 – Report


11:40 AM Announcement of the Spring 2016 Meeting and Tour
The next meeting of the SAE ACBG Committees will be held on April 19-21, 2016 in Lake Tahoe.
MEETING LOCATION
Lake Tahoe
Hyatt Regency
111 Country Club Drive
Incline Village, Nevada
NV 89451

Specline, Inc. is looking forward to hosting the ACBG Spring 2016 tour at the Cactus Air Museum in Carson City, NV on Wednesday April 20, 2016. http://www.cactusairforce.com/

Meeting registration and hotel reservation information is available on the SAE ACBG site: https://www.sae.org/servlets/works/committeeHome.do?comtID=TEAACBG

11:45 AM ACBG Wednesday Evening Awards Banquet F. Gyuricsko
This meeting will honor two specific members for their contributions to the ACBG committee and industry. This recognition is a tightly held secret and the recipients do not know until the announcement at the banquet. Be on your toes to roast our honored individuals.

11:50 AM Tour Information F. Gyuricsko
12:00 PM Adjournment F. Gyuricsko
2:00 PM The Pima Air & Space Museum
http://www.pimaair.org/

14 September 2015

Japanese Bearing Co Indicted For South Korea Price-Rigging

Price fixing has raised its ugly head again in South Korea when DOJ prosecutors yesterday indicted Japan's notable miniature producer with Corruption. Last year, 7 bearing manufacturers including Germany's SCHAEFFLER and 4 JAPANESE bearing producers pleaded guilty and received heavy penalties of over US$130 Million with convictions recorded by the South Korean authorities

However this time the Japanese Bearing Manufacturer MINEBEA CO. and its local sales subsidiary have been indicted in Seoul for alleged Price Collusion, media reports Sunday 13 September 2015



According to the Yonhap news agency, Minebea is accused by prosecutors of having colluded with another Japanese firm in fixing the price of small bearing products supplied to Samsung Electronics Co. and LG Electronics Inc. between June 2003 and July 2011.

Yonhap said it marks the first case in which a foreign firm was indicted by prosecutors on the charge of price-rigging against South Korean companies.

Minebea was the biggest ball bearing supplier in the country, controlling 56.3 percent of the market in 2012.

Last November, the Korea Fair Trade Commission ordered Minebea and its subsidiary, NMB Korea Co., to pay 4.9 billion won (approximately ¥500 million) for violating the competition law in relation to the trading of small-sized ball bearings in the country.

Just three months later, it entered into a plea agreement with the U.S. Justice Department in which it agreed to pay a $13.5 million fine for violating U.S. antitrust law in connection with sales of small-sized ball bearings.

In a Feb. 3 statement, the company apologized to its shareholders and customers "for the concern this matter has generated" and said it takes the South Korean and U.S. decisions "very seriously."

It said it has implemented an antitrust compliance program and has undertaken training for all employees to prevent recurrence of the conduct that led to the South Korean and U.S. investigations.

http://www.japantimes.co.jp/news/2015/09/13/business/japanese-firm-indicted-price-rigging-south-korea-report/#.VfZNNdLtmko
http://www.koreatimes.co.kr/www/news/biz/2015/09/123_186704.html

7 September 2015

Fakin' It: Counterfeiting and Consumer Extraordinaire

In a revised edition on 'Consumer Research' we are reminded to avoid Contradictions that can be counter-productive when referring to counterfeit-product http://acrwebsite.org/volumes/11444/volumes/e06/E-06

Main offenders of Fakes are often the Original Manufacturer seeking their identity through the commodities market that allow free access to Multi media and Social media outlets for wider global coverage to their IP Copyright and Logo. So, the savvy the broadcast on Fakes - the greater the views

The UK Association for Consumer Research has studied this phenomenon some years ago and will issue a revised edition. The extent of victims is quite surprising as these people do buy Fakes and expect a few bad eggs with others along the way, but does this mean fake or genuine Bearings are becoming complicit from Contradictions

The bigger spectacle, the greater coverage, the higher rewards



Fakin' It: Counterfeiting and Consumer Contradictions

 

Lee Hoe, Glasgow Caledonian University, UK
Gillian Hogg, Strathclyde University, UK
Susan Hart, Strathclyde University, UK
ABSTRACT - Fashion counterfeiting is a multimillion pound business and one which relies on the complicity of the consumer. Frequently seen as a victimless crime, it is a difficult trade to control because as long as consumers desire brands, the greater the market for counterfeits. In this study we consider the way in which consumers relate to fake brands and the implications of counterfeit for consumers creating their identity through commodities. The results point to an inherent and fundamental contradiction in consumers views on counterfeit, willing to buy and wear the fakes but condemning the duplicity of those who do.

Lee Hoe, Gillian Hogg, and Susan Hart (2003) ,"Fakin' It: Counterfeiting and Consumer Contradictions", in E - European Advances in Consumer Research Volume 6, eds. Darach Turley and Stephen Brown, Provo, UT : Association for Consumer Research, Pages: 60-67.

http://acrwebsite.org/volumes/11444/volumes/e06/E-06

1 September 2015

University Study 'Off Shore Wind Turbine Infrastructure'

The University of Maryland in conjunction with CALCE (Bearingcode affiliate) will conduct a detailed study into the economic viability of Offshore Wind Farms on October 1, 2015. http://www.enme.umd.edu/ESCML/Life-Cycle Costing Workshop Flyer.pdf

This University seminar will be held immediately after the AWEA Offshore WINDPOWER Conference Baltimore Sept 29, 2015,*see below details
International Workshop on Life-Cycle Costing of Offshore Wind Turbines and Farms
Calce head Professor Michael Pecht http://www.umerc.umd.edu/faculty/pecht has obtained global recognition and traveled widely to provide an academic insight to facilitate Industry. Prof Pecht has keen interest in the Bearing Industry and conducted various study groups worldwide will be attending this forum



October 1, 2015 University of Maryland, College Park, Maryland, USA
Contact: Peter Sandborn, University of Maryland, sandborn@umd.edu, (301) 405-3167

Offshore wind farms are capital intensive projects whose economic viability depends on many things including: the wind resources, the technology, the depth of the water, the price of energy, and the successful long-term sustainment (or operation and maintenance, O&M) of the turbines. Accurate life-cycle costing is a key enabler for making offshore wind farm business cases and optimizing their management. This workshop will focus on forecasting life-cycle costs of turbines, wind farms, and their associated infrastructure.
Full Details & Registration: http://www.enme.umd.edu/ESCML/Life-Cycle Costing Workshop Flyer.pdf

*AWEA details: http://www.awea.org/events/event.aspx?eventid=31812

Event Sponsor:
24 August 2015

Wind Power Mining Politics Policies & Corruption

The fate of many Industry projects big or small lay at the mercy of local Government bureaucracy, providing opportunities for some to lodge objections legitimate or otherwise, preventing community fund saving proposals such as Wind Turbines and creating a back log of suppliers including Bearings & material flow

For example, the current Australian Government who is against sustainable energy programs such as Wind Turbines in fear of upsetting the Mining Industry recently suffered a setback from locals, who lodged an Objection stating that a rare Snake & Lizard colony was at risk of extinction resulting in a long term legal challenge to the High Court that will prevent the worlds largest mining project to proceed for at least the next couple of years. This potential mine loss of time production & funds could exceed a staggering $50 billion

To properly analyze sustainable and non-sustainable Industries is a matter for global attention, however both are facing wide spread corruption with opportunists taking full advantage from the Law by lodging Objections creating delays to funded projects for years. For business to proceed with legitimate programs and to place many people with long term employment, it appears far better to negotiate outside the conciliation process and pay a bounty directly to the Appellant and have the Objection withdrawn, legal or otherwise.

In the local Court of Appeals (V-CAT) responsible for building permit Objections, an estimated $6 Billion is held up to 2 years waiting for a ruling - obviously corruption between the parties is not uncommon. Governments should understand the consequences in delaying tactics however to chop and change legislation to suit there own interests is considered foolish by constituents

Councillors in a spin over wind power
http://www.barrheadnews.com/news/barrhead/articles/2015/08/22/542473-councillors-in-a-spin-over-wind-power/

http://www.dorsetecho.co.uk/news/voices/voices_news/13620405.Say_no_to_wind_
_Teen_speaks_out_against_Slyer_s_Lane_wind_farm_proposal/


Mining should have nothing to fear from Governments
http://www.abc.net.au/environment/articles/2015/08/10/4290403.htm

17 August 2015

Bearing Board Alternative Guide to Governance

While many Corporations & Industries are modelling the latest Corporate Governance systems to conform with OEM Customer requirements such as Vestas Wind Turbines, and in accordance with Japans Prime Minister Mr Abe's recent announcement of new governance regulations to all listed Companies, the Bearing Industry lags the field by legally disqualifying themselves from many opportunities by refusing implementation to industry Corporate Governance, especially been penalized by global Justice Departments

For companies to display a sign of 'Corporate Governance' with a few motherhood statements does not qualify for Vestas OEM or Government requirements. Corporations must provide certified industry compliance without conviction

A suggestion of Transparency can be observed from this weeks CEO Briefs 'Financial Times' webinar "Board Member Seats at Other Companies" and creating an "Advisory Board for Their Company". This webcast Friday 21st August 2015 will be a guide to explain Governance without the fear of IP interference and the relevance to the new independent board members eg Japan now seeks

For your records a copy can be obtained anytime after this meet, see below for details


Positioning Yourself for Board Member Seats at Other Companies as a CEO

Upcoming Webcast: Friday, August 21st, 1:00 PM ET

Registration prior to event is required. On-demand access available immediately after event.
In this webcast, CEO Briefs examines how corporations are increasingly seeking other CEOs as board members, and what strategies CEOs can follow to position themselves to be chosen as board members by these companies. Take the 60 minutes to view this webcast (on your computer, smart phone, tablet device, or ExecSense iOS/Google Android App) to understand how you can immediately implement these strategies to attract attention to yourself as an excellent candidate for Boards of Directors, as well as using your inclusion on other company's Boards as a way to make great connections, better establish yourself in other industries (as well as in your own), and generate additional income.

This webcast is led by an expert on this topic, Cornelia Shipley (Founder - 3C Consulting), and focuses on:
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11 August 2015

SKF/Bearingnet Actions Propaganda Platform

From the 2014 acquisition of BEARINGNET UK by SKF & Co, uncovers many twists and turns with further allegations that the corrupt Bearing Cartel website 'stopfakebearings/world bearing association' is now operated & controlled by BEARINGNET to update news articles, maintain the flow of industry propaganda and utilize BEARINGNET's existing clients as a credential platform without distributors knowledge

Its worth noting again, the SKF/Bearing Cartel membership is listed on the home page to world bearing association website, has 58 criminal convictions with over $2.4 Billion in penalties and faces another round of legal hearings and Class Actions. This bearing corruption continues at high speed with a number of secret meetings at undisclosed places around the world and requires to involve & control the independent distributor via the resources of BEARINGNET

The Bearing Cartel's insignia is currently displayed to the home page of BEARINGNET who is now relocated to Spain leaving the UK office as a defacto administration and banking facilities, again unbeknown to the Bearing Industry, why ? Also alleged that other bearing industry news websites particularly in China & India are either in full or part owned & controlled by BEARINGNET

This monopoly of the entire Bearing Industry appears complete, or unless a concerted and determined effort by many people to remain legally independent. There's little doubt that a Corporate Governance program is not wanted by the corrupt cartel 'world bearing association' operating in a knowingly illegal manner against prior Convictions from many government DOJ authorities

Bearingcode is viewed by concerned industry leaders & government departments with suggestions of alternatives mounting especially now knowing who and whereabouts of these alleged bearing industry perpetrators
http://www.justice.gov/opa/pr/nine-automobile-parts-manufacturers-and-two-executives-agree-plead-guilty-fixing-prices

4 August 2015

Fallout from Industry & Sporting Corruption

The fallout from last week's news 'Comparison of Governance Between Industry Sport & Leaders' raised several matters of concern both Legal & Political particularly WADA's Track & Field Athletics doping scandal

Before people jump to premature conclusions the facts are: The process of this IAAF Athletic blood testing was conducted under the required standards without Corruption, the material and samples collected were correctly monitored then written to the required Computerized system since 2002 again without Corruption. What has been alleged that these records appear to contain high levels of blood doping, yet to be properly evaluated.and maybe subjected to legal interpretation especially with so many athletes alleged with higher than normal readings. The problem everybody wants to know is how these records were hidden for such a long period and by whom

WADA has limited funds of only $29 million PA to operate the worlds anti-doping agency includes many dedicated people; this amount of $29 million is only half of One top NBL player income PA. These matters and more are relevant to Discovery & Disclosure under due process of Governance, the good part it can now be fully evaluated and properly funded

The lesson that every Government should address are the facilities not only for testing & evaluation but for proper Governance maintenance in Industry & Sport period.

For the Bearing Industry, BearingCode is the only body who monitors any type of Governance within bearing business having extended knowledge without funding. Since 2006, BearingCode has reviewed Industry Price Fixing, Counterfeiting, False Fake Claims, Legal and Political written comment and other corrupt activities at varying levels, with legal cases listed for public hearings. Without this discovery bearing corruption would be more or less undisclosed, industry habits would be increasingly higher and eventually at far greater penalty.

Legal fees paid for Corruption are at a premium, this week HSBC bank announced a budget for $1.4 Billion - can the Bearing Industry continue to pay for legal support for any future corruption ?

28 July 2015

Comparison of Governance Between Industry Sport & Leaders

Allegations of performance enhancing drug corruption particularly from the Tour of France, the Director General of WADA 'World Anti Doping Agency' Mr David Howman stated that industry Governance may be the only chance to control general corruption within the wide spectrum of Sport https://www.wada-ama.org/en/career-opportunities

Sporting history of Drug taking and more importantly the Supply & Distribution of illegal substances concludes that primary testing & investigations conducted by there own Associations are vulnerable to scandal. Mr Howman has suggested a cross sport Governance would be more suitable, in other words Bike Riders may be tested/investigated by the Track & Field Association or Swimmers by Fencers etc for a period. This kind of Governance is not new and may become the Norm

Many western governments have a rotating employee system within certain areas of expenditure & ordinance to help eliminate corruption, although not completely cat-proof, it provides a cushion and a telltale audit

The Bearing Industry in its quest for public disclosure and transparency has been suggested a cross industry governance with the Wind Turbine Industry and/or perhaps the Auto Parts Industry. The Bearing thinking at first laughed out of horror and suggested Viagra was a better way, however despite this initial reaction, merit behind this new governance proposal has gained momentum and serious discussions are scheduled.

Last weeks news on Japan's PM push for the Code of Corporate Governance is a breath of fresh air and BearingCode can report that since Mr Abe's determined proposal for the Code, other governments including USA are introducing the requirements of Governance & Transparency worldwide especially in Africa who at first appear vulnerable albeit vastly committed http://ecadforum.com/2015/07/24/ethiopia-obama-promise-to-stress-good-governance-during-the-trip/

As reality sets, no longer can the Bearing Industry operate in a lawful manner with other global Industries without an acceptable Corporate Governance Code, the facts are clear. Shareholders and Trading Partners have a right to demand Transparency and Protection without further headlines of Corruption; illustrated by the OECD set of rules: http://www.oecd.org/daf/ca/corporategovernanceprinciples/43654500.pdf

21 July 2015

PM Code of Conduct for Japanese Business

Japan's PM SHINZO ABE announced last week sweeping reforms for a Corporate Code of Conduct to catch up with Global Industry. Japan's ROE (return on investment) averaged just 6% compared to USA at 16%

Official announcement details

Japan's leader wants to change the way the country does business. Prime Minister Shinzo Abe is urging corporate reform. Without it, Abe says the economy won't improve. A key plank of the reform program is a code of corporate governance. It took effect last month.

The code is a long list of good management practice. There are two key ones. The first one calls on companies to appoint at least two independent directors to their boards -- a check against management abuse. This also gives investors a voice in decision-making.

The second key code urges companies to disclose their policy on cross-shareholdings. Japanese companies own large stakes in subsidiaries, clients, and banks. That helps them avoid hostile takeovers --- and demanding investors. But it also ties up billions of dollars -- and often for poor returns. The code is not legally binding, but the companies listed on the Tokyo Stock Exchange need to comply. If they don't, they have to explain why to their investors.

Japanese companies are losing out in the global market. They are less profitable than many competitors. Critics say they are also poorly managed.

The index of ROE or Return on Equity shows how much profit a company generates with the money shareholders have invested. The average for Japanese companies stands at 6 or 7 percent. In the United States, the figure is 16 percent.

The Abe administration wants Japan to catch up by strengthening corporate governance.

One company benefiting from stronger corporate governance is Omron, a leading electronics maker. Four years ago, Omron's investor relations team started releasing financial goals and strategies. That includes a mid-term target for Return on Investment, or ROE, set at more than 10 percent. It also ensured that a top management change in 2011 was fully explained in the annual report -- including the reasons for choosing the new CEO.

Omron held nearly 1,000 meetings with investors last year. That kind of communication is attracting more individual shareholders and improving the company's share price. It's jumped three-fold over the last two years.

"Communication with investors became very smooth," said Satoshi Ando, Omron's chief IR officer. "Investors started to understand what Omron is thinking and what we're aiming at. And that has widened our investor base."

The Abe administration is calling for shareholders to change their attitude as well. It's urging them to monitor business performance and engage with the companies they have invested in.

Misaki Investment is one institutional investor that is taking the advice. The group's analysts keep a close eye on the companies in their portfolio. If they spot issues, they come up with a business plan to improve it. They visit companies and present their plans. They call themselves "Working investors". "We work together because if the management improves, there's surely a return," said Yasunori Nakagami, CEO of Misaki Investment. "We are not typical investors that only buy and sell stocks. We work together for the companies' benefit."

One company to benefit from Misaki's oversight is Pigeon, a maker of baby and child care products. It has posted record profits for 6 straight years.

Japan's falling birthrate posed a serious challenge for Pigeon's business. Misaki suggested the company strengthen its overseas operation. The investor group also urged managers to work on improving ROE. Today, 60 percent of Pigeon's sales are made overseas. The China market is especially strong. The company's stock price has jumped more than six times over the last 5 years.

"Japan's economy is mature so it needs to improve competitiveness and productivity," Nakagami said. "We as an institutional invester hope to support companies by boosting earning power."

Company bosses and investors are starting to see the benefits of stronger corporate governance. But there's still a long way to go before this translates into a stronger economy.
full details: http://www3.nhk.or.jp/nhkworld/newsroomtokyo/aired/20150710.html

12 July 2015

Schaeffler's Recycled Marketing Strategy re False Fake Bearings

July 1, 2015 claim of Counterfeit FAG product raid in Mumbai by Schaeffler lacks authenticity and without forensic evidence eg. No Photos, No DNA, No Police Report, No Legal Proceedings, No Prosecutor, No Defence Lawyer, No Names of Accused Company or Executives

Bearingcode completed an investigation into Schaefflers counterfeit claim, but the necessary information to warrant a full scale legal challenge has proven fruitless http://www.schaeffler.us/content.schaeffler.us/us/press/press-releases/press-details.jsp?id=70256833

TACT INDIA www.tactindia.net Schaefflers investigation team could not verify any information and Schaeffler replied that no photos were available. This Schaeffler counterfeit claim has the hallmark of many previous false fake bearing headlines aimed to capture free media attention and create their false goodwill throughout Industry at the expense of a second rate recycled marketing strategy

Below are photos of the first Schaeffler/SKF False Fake in Schweinfurt dated 23 January 2007 with a gathering of German and Global media who were told a raid containing 40 tons of FAG INA SKF etc were found just around the corner. This well known photo shoot received world wide coverage and legal proceedings are still pending, further false fake Cases are pending against SCHAEFFLER in USA through to Australia


1 July 2015

BEARINGNET SKF & WBA Investigations

Investigations into corrupt dealings of World Bearing Association/Stopfakebearings ref.8 June 2015, have exposed further industry concerns with the allegation that global bearing IT provider BEARINGNET.NET - UK http://www.bearingnet.net/ with over 2000 Distributor clients has been secretly acquired by SKF Group via an elaborate trust scheme to avoid detection and Industry awareness

BEARINGNET 'The Bearing Distributor Network' regarded as morally aligned to the Distributor wholesale market computing over 10 million bearing and associated product items, provides the bearing dealer member instant global location & price comparison to obtain items without making the laborious one by one search and without knowledge from Bearing Manufacturers particularly WBA. The allegation also refers that no industry or pubic announcements were made and no official website news address permanent or otherwise highlighted

BearingCode notified BEARINGNET & SKF for comment and their right of reply, emails were not responded. The investigation is ongoing

15 June 2015

Meeting Reminder: Counterfeit Parts and Materials

June 23 - 25 , 2014 | College Park, MD: Program Chair: Dr. Diganta Das
(<http://smta.org/counterfeit/>diganta@umd.edu)

You can register online<http://www.smta.org/counterfeit/register_now.cfm> or at the door.

The Symposium aims at Industry, Government and Education involving Counterfeit Products, IP, Detection, Regulation & Policing


Complete schedule of this eight session - two day symposium is at the CALCE web site<http://www.calce.umd.edu/symposiums/SCEPJune2015/SCEP_June2015.html>.

On the third day, two full day workshops will be offered covering proactive counterfeit avoidance based on supply chain assessment and detection methods based on SAE standard 6171.

Program Highlights:
AS6171 and Test Methods by Mike Azarian of CALCE - UMD: Dr. Michael Azarian will update the attendees on the aspects of the ambitious test laboratory standard for counterfeit detection including determinations of numbers of parts to test, risk based selection of test methods and sequence, test methods, laboratory and personnel qualification and various test processes. This standard, to be released later in 2015 and will be the baseline test method for all other SAE standards on counterfeit detection. Other leaders in development of this standard will also be presenting on other aspects of the standard giving you the opportunity to be ready to adopt and implement this standard.
Keynote: Functional Clones -
The Most Dangerous NEW Counterfeit Threat Facing D&A Industry ManufacturingToday by Tom Sharpe of SMT Corporation:

Defense Industry OEMs are now facing a much more insidious counterfeit threat than at any time in the past. The existence of cloned electronic components bearing the markings of major component manufacturers in today's global supply chains has been recently clearly established within SMT Corporation's labs. The most worrisome aspect of these "made from scratch" fakes is their ability to easily pass visual package inspection AND electrical testing to the manufacturers data sheet. In his keynote presentation at the Symposium on Counterfeit Parts and Materials,

Tom Sharpe, SMT Corporation, will share some good examples of this most concerning counterfeiter capability as well as some cutting-edge counterfeit mitigation processes to identify this dangerous material.

Other Topics of Interest:

Counterfeit: A System Integrator Perspective by Andre Oliveira of EMBRAER S.A.
Trends in Counterfeit Parts and the Supply Chain by Fred Schipp of US Navy
Algorithms: The New Frontier in Counterfeit Detection by Bill Cardoso of Creative Electron Surface
Authentication System for Counterfeit Mitigation by Harshad Sardesai ofChromologic, LLC
Anti-Counterfeiting for 3D Printing by Sharon Flank of InfraTrac
Logical Vanishability for Counterfeit Prevention by Hassan Salmani of Howard University
The Value and Complexities of Information Sharing by MarkSnider of ERAI:

Full Day Workshops (June 25)

* Material Parts Supply
Chain Evaluation and Managing Parts Obsolescence for Counterfeit Avoidance
<http://www.smta.org/counterfeit/workshops.cfm#WS1>
Diganta Das and Peter Sandborn
CALCE - University of Maryland
* In Depth Training on
Upcoming SAE AS6171 Counterfeit Part Detection
Test Methods<http://www.smta.org/counterfeit/workshops.cfm#WS2>
Bhanu Sood, CALCE - University of Maryland

College Park Marriott Hotel and Conference Center
3501 University Drive E |
Hyattsville, MD

Calce_US@calcetalk.umd.edu
http://calcetalk.umd.edu/mailman/listinfo/calce_us

14 June 2015

SKF Fake Bearing Claims For Marketing

From the events of Bearing marketing with false claims of Counterfeiting over the past 10 years and the damage it creates, it appears the Bearing Industry will be hit with another round of illegal propaganda if you believe Mr. Timothy Gifford, SKF General Counsel Sr. Vice President. statement 6th June 2015

"If your readers buy counterfeit bearings, they're getting cheated; they're not getting what they paid for," states SKF Vice President Timothy Gifford

However, what really happens is "How a false Counterfeit Claim can ruin your Business" just ask the companies who have been terrorized by SKF & SCHAEFFLER who sole intent is to eliminate those competitors who are free nonaligned distributors with wrongful ridicule and public disgrace

SKF Mr Gifford's recent facts and figures overstates reality and raises more questions. Does SKF understand the dangerous nature of making or improvising scare tactics to insinuate an illegal capital gain ? And has Mr Gifford requested police involvement with an independent DNA examination/audit done to justify any counterfeit claim ? If so then these reports should be annexed for complete Industry and Legal Transparency. Its easy to throw allegations of criminal 'one liners' to create doubt but difficult to replace the original dignity & goodwill; this has been SKF Industries game, without facts & evidence over the past decade - perhaps the next round of Legal Proceedings may assist SKF with new thinking with future news articles

SKF Counterfeit Conclusion: Above all else, "Always buy from an authorized SKF distributor," reiterates Gifford

Full story: http://www.manufacturing.net/news/2015/06/bearing-down-on-counterfeit-motion-control-components

Below are false Counterfeit claims by SKF Industries in June 2009, worth another read for Mr Gifford's resurrected article 6 years later

Full story: http://www.skf.com/group/news-and-media/news-search/2009-Jun-11.html


Full story: SCHAEFFLER'S Recent False Counterfeit http://stopfakebearings.com/news/2014/12/largest-ever-cache-of-counterfeit-spindle-bearings-is-seized-in-germany/

8 June 2015

Banks Join Ball Bearing Auto Ranks

When Banks follow Industry & Sport with latest worldwide media announcements we immediately think of positive outcomes for all
Not so, says bank regulators who today convicted Deutsche Bank US$2.5 Billion in Fixing Corruption joining the HSBC Bank with the largest penalty yet given to public icon bank institutions.

Relating the Deutsche Banks 2.5 Billion penalty to ongoing Bearing Industry penalties US$ 2.4 Billion, FIFA football fiasco combining with Auto Spare Parts group + others, we have one hell of a Global corruption, fraud, money-laundry criminal Corporate problem.

 
http://www.theguardian.com/news/2015/feb/18/hsbc-files-10-days-on-10-inquiries
http://blog.transparency.org/2015/04/27/deutsche-bank-settlement-does-the-punishment-fit-the-crime/

For the Bearing Industry to rank among the global worse, constant reminders of serious corporate health concern continues

Past Presidents of SKF Tom Johnstone & SCHAEFFLER's Jürgen Geissinger the original founders of Stopfakebearings & WBA 12 years ago have now departed, but why are these corrupt business identities still operating under control of new leaders executives and operators ? The achieves of the internet sight SFB are full of corrupt bearing reports allegedly aimed to benefit those who have self interests similar to FIFA, not to mention payments made by public companies SKF SCHAEFFLER + WBA members for costs that include purchases expenses commencing with 40 tons of surplus stock from a dealer in Germany 2007 used as fake propaganda and transfers to unregistered unincorporated groups who are unaccountable

Civil & criminal legal proceedings are upon the bearing industry for 2015/16 ongoing, for bearing shareholders &/or executives to remain complacent is no longer an option, it requires some deep constructive course of new direction and within the bounds of Corporate Governance, not just in writing but in the spirit of the Law
1 June 2015

Balls of Global Concern

Whether you are 'for or against' leaders of Sport or Industry widely smelling of corruption, its near impossible to spray-can lavender and move on without a tarnished image but.who said "keep politics out of sport, religion out of industry and family out of business"

The idea of any team Executive surrounded by cronyism & scandal continuing with business as usual and/or to reinvent a glossy image fresh from business college, is beyond belief in any form of Commerce

Corrupt executives make their decisions of fraud based on current laws & conditions at that time, however these conditions naturally change leaving exposure caps retrospective in executives thinking and combining with the internet, you are now 7 times more likely to be caught than 10 years ago

When corruption is determined the blame game starts until legal proceedings are concluded, then the big bang of Class Actions commence dragging everything & anybody in its wake - and the story continues, what a life. There is no difference with Corporate Governance between football, bearings or tiddlywinks, just the Players http://en.wikipedia.org/wiki/Tiddlywinks

24 May 2015

Counterfeit Meeting on Bearings & Auto Spare Parts

Following last weeks legal summary concerning Fakes within the Bearing industry, we will present various industry events relating to both Auto Parts & Bearings mentioned by Departments of Justice worldwide

CALCE - University of Maryland USA is conveniently located to welcome Industry, Government & Education guests for an updated and detailed Symposium considered value for the next round of legal proceedings within the spare parts counterfeit industry. The Bearing Industry is therefore cordially invited, and to register via the below links


Symposium on Counterfeit Parts and Materials
Home
Symposium
Workshops
Speaker Info
Expo
Hotel/Travel
Register

Technical Symposium: June 23-24, 2015
Expo: June 23-24, 2015
Workshops: June 25, 2015
University of Maryland, College Park, MD

SMTA and CALCE @ University of Maryland are pleased to announce the east coast venue for the Symposium on Counterfeit Parts and Materials. The program will be held June 23-25 at the Marriott Inn & Conference Center next to the University of Maryland. Don't miss this opportunity to learn from and share your insights with government, industry and academia who are addressing the counterfeit problem.

Changes in the parts supply chain had been fast and furious in the last decades and its impact on the practices of companies is still evolving. It is well understood that, the scourge of counterfeit material parts is related to the changes in supply chain but it is only one of the many impacts. This symposium will provide a forum to cover all aspects of changes in the Industry parts supply chain on how an organization performs part selection and management through whole life cycle of the parts.

Going beyond anecdotes and examples of counterfeit parts, this symposium focuses on the solutions that are available and are under development by all sectors of the industry.

Topics will include:
Impact of supply chain changes on the component management practices: quality, reliability, manufacturability
Material parts distribution: current stage and evolution
Authentication techniques for securing industry part supply chain
Federal procurement practices and its impact on industry supply chain
Inspections tools and techniques for detecting counterfeit parts
New areas of counterfeit concerns: materials, energy storage
Industry and international working groups and standards on the spare parts supply chain and counterfeit material parts

The symposium is organized by SMTA in conjunction with Center for Advanced Life Cycle Engineering (CALCE) at the University of Maryland, College Park, MD, USA. This symposium will be valuable to quality and reliability manager, supply chain managers, brand protection specialists, inspectors, marketing and procurement policy makers, contracts and legal management, security specialists and government agencies. Our focus is to provide relevant information to the professionals that can be used for solving problems today while planning for a different business and technology environment in the future.

Organized by
Register Now
Event Sponsor:
Media Partners:
Technical Committee
Diganta Das, Ph.D., CALCE/University of Maryland,Conference Chair

Sally Arno, Plexus Corporation

Bill Cardoso, Creative Electron

Paula George, Defense Logistics Agency (DLA)

Sultan Ali Lilani, Integra Technologies, LLC

Kevin Sink, TTI, Inc.

Bhanu Sood, CALCE/University of Maryland

Robert Tipton, Wyle


23 May 2015

Giant Wind Turbines Could Boost US Renewable Energy Production

Big investment for Bearing Industry, More Jobs for Manufacturers and Cheaper Energy Costs

A new report from the US Department Of Energy entitled "Enabling Wind Power Nationwide" says advances in wind power technology and deployment will continue to make wind power cheaper and more accessible, making it possible to achieve utility scale levels of renewable wind power in all 50 states by 2030.

According to Think Progress, giant wind turbines that reach stronger winds high above the ground will be the key to unlocking previously untapped resources, primarily in the Southeastern U.S. where wind speeds tend to be lower. On May 18, Energy Secretary Ernest Moniz said that "by producing the next generation of larger and more efficient wind turbines, we can create thousands of new jobs and reduce greenhouse gas emissions, as we fully unlock wind power as a critical national resource."

At present, the standard height for most wind turbines is 260 feet, but turbines up to 400 feet are already common in parts of Europe. The Energy Department is working with turbine manufacturers to develop new turbines that are between 360 to 459 feet tall with blades 200 feet long. These new turbines could bring wind power to states like Alabama, Arkansas, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, and Virginia — all of which currently lack commercial wind power.

The DOE report claims that increasing wind power nationwide from 4.5% today to 20% of total production would create 400,000 jobs and result in billions of dollars in property tax payments to local governments. Reducing carbon dioxide pollution from fossil fueled generating plants would provide as much as $30 billion a year in economic benefits the country as a whole.

"This report is great news for consumers, job-seekers, rural communities and many others in these states that have yet to fully benefit from American wind power," said American Wind Energy Association (AWEA) CEO Tom Kiernan. "Wind turbine technology has advanced in just a few decades from the Model T era to more like that of a Tesla Model S. Advanced towers, blades and improved electronics to operate and maintain the turbines are all part of this revolution."

"What's so exciting to me about tall towers is the way it opens new regions for wind development," says Jacob Susman, CEO and founder of OwnEnergy, a wind energy development company. "Imagine if Louisiana could get its wind from right there on the Bayou, instead of having to import it from neighbor states. That's the power of tall towers. This is a big advancement for the industry."

As the cost of electricity from fossil fuels continues to climb, electrical energy from renewable sources will not only benefit the environment, it will drive down the cost of monthly utility bills for all Americans -. Stephen Hanley writes

14 May 2015

Notice to Bearing Manufacturers Distributors Associations & Affiliates

If your company is displaying any of the 3 logos listed below via internet journal or brochure then they should be now removed

These logos are brands of the bearing Cartel recently convicted for corruption by various Departments of Justice. From global news reports, there will be further Legal proceedings both Criminal and Civil against those Bearing identities who have violated the Law. For further information please contact Bearingcode or Google to locate criminal convictions, below is the ongoing legal summary

Over a 2 year period, members of World Bearing Association (WBA) were responsible for 54 Anti Trust Convictions, US$2.4 Billion in Fines & Penalties, 7 Jail Imprisonments, 2 US Grand Jury Indictments. Pending committal hearings against these WBA members ordered to stand trial in Civil Proceedings and to trial again with the Auto Parts Industry

http://www.justice.gov/atr/public/division-update/2014/auto-parts.html
http://www.justice.gov/opa/pr/nine-automobile-parts-manufacturers-and-two-executives-agree-plead-guilty-fixing-prices
http://www.bloomberg.com/news/articles/2014-03-19/skf-to-schaeffler-fined-1-3-billion-in-eu-ball-bearing-cartel
http://europa.eu/rapid/press-release_IP-14-280_en.htm

The same WBA members as owners of 'Stop Fake Bearings' now face allegations of Fake Counterfeiting programs, False Counterfeit Claims, Making & Purchasing Bearings for Counterfeiting, False Court Proceedings, Counterfeiting to Eliminate Competition, Counterfeiting Causing Damage to Distributors Anticipated Legal Notices in EU USA CHINA ASIA(5) SOUTH AMERICA (3)


According to web domain the IP bearing Cartel address for the above logos is Gotenberg, Sweden

10 May 2015

Bearing Importance Knowing the Political Landscape

Knowing your global bearing business without knowledge of the political demographics is similar to marketing bearings without a Credit clearance

Newly elected politicians as seen in UK elections have some basic business knowledge and just knowing a corporate address is a good start, but does your Bearing Executive know the local MP's name or where to seek advice for new Legislation, Demographics or require the widespread A to Z Government contact?

Seeking advice from Lawyers on a host of subjects is at times considered necessary, however lawyers are not the sitting politician and often refer to their elected member for assistance or lobby support including the so-called party donation as inducement/enticement deemed 'politically correct'

Yes, some constituents lack the trust of sound judgement in Politicians and/or perhaps past defeat grievances from debates, however bruised or bashed MPs move on and prepare for the next challenge conjuring up arguments and thinking through the minefield of Win and Lose, its not easy, but they are always or should be there for whatever requested government advice - and they do know where to start looking for that contact for direction, particularly for enterprise

Commerce needs political astuteness at boardroom level, just ask the Taxman. The question is; can Bearing executives enter the political frolic to become MPs and obtain experience in the art of hard negotiating at the high end of Justice that Universities advocate.? Law degrees are acknowledgement of great learning Achievement, Members of Parliament are acknowledgement of Peoples trust with Legislation

Bearingcode believes only 2 bearing Executives were elected as Politicians, any chance for more ?

http://en.wikipedia.org/wiki/Member_of_parliament

2 May 2015

Wind Turbine Modelling For Business Investment

Bearingcode's affiliate CALCE Examines the Return on Investment Models for Wind Farm Operation and Maintenance (O&M) Optimization

Prof. Sandborn's group has recently published a paper on a model for assessing offshore wind farm O&M management alternatives and technologies.

Read http://www.calce.umd.edu/articles/abstracts/2015/15_Return%20on%20Investment%20Modeling.html

Return on Investment Modeling to Support Cost Avoidance Business Cases for Wind Farm O&M

Roozbeh Bakhshi, Peter Sandborn, Xin Lei and Amir Kashani-Pour

Center for Advanced Life Cycle Engineering (CALCE), Department of Mechanical Engineering, University of Maryland, College Park, MD 20740, USA

Abstract:
Accurate life-cycle costing is a key enabler for wind farm operation and maintenance (O&M) optimization. Research has shown that maintenance, for both onand offshore installations, is not optimized and that significant opportunities exist for reducing the total cost for maintenance activities and the cost due to production losses, especially for large wind farms. This paper describes a stochastic model for detailed lifecycle cost analysis and associated return on investment (ROI) analysis that can be used to assess offshore wind farm O&M management alternatives and technologies. A case study that examines the return on investment for the implementation of prognostics and health management (PHM) systems on a wind turbine is presented.

Complete article available to CALCE Consortium Members.

Also at EWEA OFFSHORE 2015, March 10-12,2015, Copenhagen, Denmark
http://www.ewea.org/offshore2015/

25 April 2015

Meetings 28 April for ABMA & SAE/ACBG of Significance

American Bearing Manufacturers Association and Aircraft Control Bearing Group will conduct their bi-annual meetings this week with various topics on future direction to be determined.

The 2015 ABMA Annual Meeting schedule commences 28 April at 'The Meritage Resort and Spa Napa Valley' California, has been adapted to the unique adventures this year's destination affords. We have changed the schedule to allow attendees to bring their guests and extend their stay through the weekend. The meeting schedule provides two afternoons for exploring, and our events will highlight some of the finest wines the region has to offer. http://www.americanbearings.org/

There is no golf tournament this year

QUICK LINKS

Editorial: As future change within the Bearing Industry is inevitable, will ABMA's current policy particularly the legal positioning of Counterfeit bearings and WBA/SFB be compromised. Encouraging moves by members are recognized and now requires the wide support of this Association

The SAE/ACBG meeting will be held in Kitty Hawk, NC, United States on April 28 - 30, 2015.

For updated information http://www.sae.org/servlets/works/committeeHome.do?comtID=TEAACBGREB

The Chairman from the RBC Bearing Group Mr Fred Gyuricsko will bring a new bred of bearing technical experience to the important Aviation Space Industry and having support from Mr Jim Mathis (Vice-Chair) BOEING Aircraft Group. The meeting will focus on specifications particularly with material and review all technical aspects for bearings in yearly cycles and many other unrecognized technical concerns

QUICK LINKS

The SAE/ACBG division of SAE Standard Works, has a strict counterfeit policy in line with current Regulatory Governance requirements. Bearingcode is a member of SAE/ACBG

21 April 2015

What CEO's Need to Know About 2015 Regulatory & Compliance Changes

From last weeks Governance recommendations, Bearingcode links with ExecSense/Financial Times to present further company information for New Regulatory & Compliance standards within Corporate Governance. This subject is now a hot issue with many Justice Departments and should filter through as Legislation - Do not be concerned with Change, we believe Change is future success

Upcoming Webcast: Friday, April 24th, 1:00 PM ET for CEO's and Executives

Registration prior to event is required. On-demand access available after event.

http://www.execsense.com/what-ceos-need-to-know-about-keeping-up-with-2015-regulatory-changes.html?utm_source=acton&utm_medium=email&utm_campaign=42415

Examines the latest regulatory and legal changes affecting CEOs in the last half of 2015. Take the 60 minutes to view this webcast (on your computer, smart phone, tablet device, or ExecSense iOS/Google Android App) to learn what you as CEO need to do to ensure your company complies with latest laws and industry standards.

This webcast is led by an expert on this topic, Mark Clarkson (Chairman - MOG Stocks and Securities Ltd.), and focuses on how to manage organizational restructuring in light of regulatory reform and how to remain profitable even when your industry faces new restrictions.

In this 60-minute session, CEOs will learn:

• How to ensure your current corporate policies comply with the latest major regulatory changes in 2015 and what to do if they're out of date

• Why global market shifts and international arrangements have influenced domestic law and how to get ahead of future changes

• How to be in compliance with new regulations without sacrificing cost effectiveness and profitability

• Understanding that compliance with legal and regulatory requirements often only sets the base level of skill, expertise and competency needed

• Specific case studies of CEOs who faced regulatory changes in their industries and became profitable despite facing compliance challenges

• NEW! On-the-Go Guide : Download the quick reference guide outlining the key tips and strategies covered directly to your mobile device

Click Here to Register for This Webcast
http://www.execsense.com/what-ceos-need-to-know-about-keeping-up-with-2015-regulatory-changes.html or Call 1- 855-527-4337

http://ceo.execsense.com/ceo-membership-2015/

Copyright © 2015 ExecSense: Our address is 330 Hudson Street, New York, NY 10013, USA
To view our privacy policy, click here http://help.ft.com/tools-services/financial-times-privacy-policy/#axzz3QDpJH5tJ

14 April 2015

Corporate Governance Bearings Auto & Wind Turbine Industries

We have received many inquiries to our Governance link 'Bearing Industry Corporate Governance' thanking you, therefore a more detailed explanation with further links is provided.

Models of Governance normally contain 2 basic sets of principles (a) Standard Format generally accepted as basic law (b) Industry Specific aimed at preventing past criminal behavior. Both principles can provide or restore pubic confidence - The Industry Specific model can be written to Modify Accept or Reject according to Director/Shareholder industry concerns http://papers.ssrn.com/sol3/papers.cfm?abstract_id=902900

While there are various examples of Governance that differ from Country to Country: every model is based on past acts of criminal Behavior Fraud Theft Collusion Corruption Counterfeiting Bribery and Unlawful or Non-Compliance to Industry Standards, most details can be viewed on: http://en.wikipedia.org/wiki/Corporate_governance

Corporate Governance is not 'Admission of Guilt' or an 'Oath of Conviction' its an public admission to future 'Acceptable Corporate Responsibility' http://www.jstor.org/discover/10.2307/2937861?uid=3739136&uid=2&uid=4&sid=21106451648363

Grouping of Industries with the same Corporate Governance Code can be viewed under Conglomerates: http://en.wikipedia.org/wiki/Conglomerate_%28company%29 and while there maybe some duplication, benefits are significant

Example of USA DEFINITION: 'CORPORATE GOVERNANCE'

The system of rules, practices and processes by which a company is directed and controlled.

Corporate governance essentially involves balancing the interests of the many stakeholders in a company -these include its shareholders, management, customers, suppliers, financiers, government and the community.

Since corporate governance also provides the framework for attaining a company's objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure.

Corporate governance became a pressing issue following the 2002 introduction of the Sarbanes-Oxley Act in the U.S., which was ushered in to restore public confidence in companies and markets after accounting fraud bankrupted high-profile companies such as Enron and WorldCom http://www.nytimes.com/2006/12/17/weekinreview/17labaton.html?_r=0

Most companies strive to have a high level of corporate governance. These days, it is not enough for a company to merely be profitable; it also needs to demonstrate good corporate citizenship through environmental awareness, ethical behavior and sound corporate governance practice http://www.investopedia.com/terms/c/corporategovernance.asp#ixzz3XFE9K9ep


How to Institute Governance without Bureaucracy to prevent Corruption
http://www.usip.org/sites/default/files/ETC-D/NPEC/480021.PDF

7 April 2015

Bearingcode Invited to Present at University of Maryland 'CALCE'

The President of Bearingcode Ian McPherson received an invitation from Chair Professor and Director Michael Pecht to address the prestigious University of Maryland 'CALCE' http://www.calce.umd.edu/ at Maryland USA

The presentation will focus on many like interests between the global Bearing Industry, Electronic Components and Consumer Competition awareness. Prof. Pecht's team and fellow academic members have been interested in Bearingcode's work particularly Counterfeit products and dealing with industry media releases. These are joint concerns and have a common thread with the SAE NASA and Law Institutions. Ian McPherson address will be conducted to coincide with other USA meetings due to commence June 2015 and if you have interest to attend please contact the office at the University or directly with Prof. Pecht, email: pecht@calce.umd.edu


Michael Pecht, Chair Professor and Director, CALCE Electronic Products and Systems Center, University of Maryland USA

The Center for Advanced Life Cycle Engineering (CALCE), the largest electronic products and systems research center focused on electronics reliability, is dedicated to providing a knowledge and resource base to support the development of competitive electronic components, products and systems.

Industry Focus

26 March 2015

SCHAEFFLER TO FACE USA PRICE COLLUSION, SKF ESCAPES JURISDICTION

A federal judge in Michigan on Tuesday March 24 2015 dropped Swedish manufacturer AB SKF from an antitrust suit launched by Florida's attorney general that was added to multidistrict litigation, saying the court wields no jurisdiction over the company because of its scant ties to the United States.

In a related decision also handed down on Tuesday, Eastern District of Michigan Judge Marianne O. Battani ruled Schaeffler USA Group Inc., affiliated with the German Schaeffler AG, must defend itself against the allegations of price collusion.

Judge Battani granted AB SKF's motion to be dismissed from the suit, reasoning the Florida Office of the Attorney General made "bare allegations" of the Swedish company's American contacts that don't satisfy the due process requirements of the Fifth Amendment.

Referring to a July decision in the same court, "The jurisdictional evidence and allegations demonstrated that AB SKF does not manufacture or sell any products in the United States," Judge Battani wrote in her decision on Tuesday. "In addition, it has no direct contacts with the United States other than through its subsidiary SKF USA."

Florida Attorney General Pam Bondi sued AB SKF, Schaeffler AG and their U.S. divisions in 2014, alleging the companies and others colluded to artificially inflate the price of ball bearings.

Bondi said that between 2000 and 2011, the prices for ball bearings increased 45 percent despite falling demand in the auto industry. In a competitive market, falling demand would lead companies to decrease prices in order to attract new customers and to ensure their market share, according to the attorney general. Ball bearings are a vital part of many machines, especially automobiles.

The action has become part of multidistrict litigation launched by states across the country involving auto parts pricing.

Like AB SKF, the German parent of Schaeffler USA Group Inc. escaped the litigation because of a lack of jurisdiction. However, the judge did not do the same for its U.S. subsidiary.

Judge Battani denied Schaeffler USA's motion to dismiss for failure to state a claim. The judge disagreed with the company's assertion, ruling automobile dealerships and other plaintiffs involved in the multidistrict litigation "provided sufficient allegations for the court to infer a global conspiracy aimed in part at the United States."

"Class plaintiffs ... provided factual allegations that Schaeffler USA met in secret with its co-conspirators at trade shows and directly sold price-fixed bearings in the United States in a market that was ripe for anticompetitive conduct," Judge Battani said.

Representatives of the Florida Office of the Attorney General, AB SKF and Schaeffler USA Group Inc. did not immediately respond to a request for comment on Tuesday. Bondi is represented by Timothy Fraser of the Florida Office of the Attorney General. AB SKF and SKF USA Inc. are represented by Debra H. Dermody and Michelle Mantine of Reed Smith LLP, and Howard B. Iwrey and Brian M. Moore of Dykema Gossett PLLC.. Schaeffler USA Group Inc. are represented by Stacy E. Frazier and Eric J. Mahr of WilmerHale.

The case is In re: Automotive Parts Antitrust Litigation and re: Bearings, case number 2:12-md-02311, in U.S. District Court for the Eastern District of Michigan USA. Its not clear if an Appeal process is permitted
http://www.law360.com/florida/articles/635121/auto-parts-maker-skf-escapes-fla-ag-s-price-fixing-suit

21 March 2015

Create a Thriving Bearing Organization as CEO

"The Importance on Transparent Leadership when working with the Board, Employees, Customers, Vendors, and Regulators"


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16 March 2015

Bearing Invitation To Bearing Industry

Worldwide interest was generated from last weeks news "Bearings & Wind Turbines Partnering Against Corruption" with a variety of industry views including Wind Turbines Sustainable Energy Financial Groups Universities Government Institutions Law Firms. One legal attorney from Boston Massachusetts made it quite clear the Bearing Industry must change current policies to open Transparency or slide further down the slippery pole with more Corruption & Fraud Prosecutions Class Actions crippling penalties and expenses; however this appears to have little concern to some manufacturers in allowing their existing Cartel to violate the Law

By contrast, pop Bearing News articles are centered away from Corruption into non intrusive award winning programs, although important, does not address key maters of legal prosecution fines imprisonment and a Cancer Industry reputation

Bearingcode does offer Congratulations to the NSK Group, press release March 12 2015 by NSK Ltd Japan
"NSK's CSR Report 2014 Wins Award for Excellence"

http://www.nsk.com/company/presslounge/news/2015/press0312a.html

Its high time for Change and bearing executives can make the hard decisions to assist in cleaning up our industry as a Priority. Bearingcode for years, has been a lone voice highly critical of corrupt behavior shown by some corporations, but now stands with Justice Departments to eradicate all forms of Fraud persisting today.

Bearingcode Wishes to Invite & Welcome Bearing Manufacturers and Associates for Open or Private Discussions

Discussions may assist with accredited leniency programs redemption and risk management, especially when convictions have already been registered by Federal Governments in 12 Countries 4 Continents

Since October 2014, Bearingcode in conjunction with Websence (Financial Times UK) has offered CEO/Executive training programs, this is an initiative to further assist with Anti-Corruption and the importance at the CEO level. We will continue to offer more Executive programs during 2015/16 including the technology expansion of the Wind Turbine Industry

We sincerely ask for your consideration, current thoughts and new change to email Bearingcode for cooperation - should be beneficial

8 March 2015

Bearings & Wind Turbines Partnering Against Corruption

As with Wind Turbine manufacturers strict policy of anti corruption including signatories to United Nations Sustainability program http://www.vestas.com/en/about/sustainability#! Bearingcode's NGO charter also states total elimination to all forms of Corruption & Fraud within our Industry.

Corruption a global issue, is generally tackled with little funding, lacking industry expertise and without cooperation from convicted offenders possibility in fear of further persecution or prosecution. The Bearing Industry is no exception having recorded over 50 convictions for corporate crime in 2 years by 7 well known (respected) bearing manufacturers, however apart from their original Conviction dates, the words Corruption or Fraud go missing from bearing executives vocabulary. There's no mention of new company direction or policy, little about new corporate academic personal and no recognition to anti corruption bodies eg DOJ EU Commissioners or Bearingcodes ability to wipe out their Corporate cancer crippling our industry. To the contrary, Bearingcode is considered by these 7 convicted corporations as despicable behavior to expose their crimes, so while there is no recognition of Corruption or Fraud by these offenders and simply 'shoved under the bed', its now expected more similar criminal behavior to follow

To make matters worse, the next round of possible Corruption prosecutions involving fake counterfeiting to eliminate competition is soon to be released, no effort by these 7 bearing manufacturers to take responsible action with redemption, instead we see a high degree of arrogance being the precursor of corruption without transparency,

The European Commission in March 2014 prosecuted 6 bearing manufacturers guilty of Corruption and fined over 930 Million Euros, a heavy penalty fitting the crime http://europa.eu/rapid/press-release_IP-14-280_en.htm leaving a potential supply gap to those Industries having a Strict Code of Conduct such as Vestas Wind Turbines who prohibit corporations with criminal convictions as Partners. Obviously there is a drag in bearing material flow to compensate and for the past 12 months a self imposed Moratorium has been shadowed. This will now be monitored by many including Vestas who cannot be seen as the anti corruption 'Flag Bearer' making public statements while promoting business with convicted corporations. And to those who act as their supply partners with criminal records could be jointly and severally named as Co-Respondents in any legal action

1 March 2015

Bearing Acquisitions Present Growth or Past Corruption ?

We received positive responses from last week's ExecSence webcast concept into Fraud & Corruption http://www.execsense.com/fraud-and-corruption-risk-assessment-what-ceos-need-to-do-now-to-ensure-your-organization-is-protected.html?layout=alternative

Next Tuesdays webcast brings another contentious matter to the Bearing Industry relating to Acquisitions with Due Diligence - Transparency matters that bewildered many organizations as to how SKF acquired the Kaydon Corporation when Fraud and Corruption were widespread throughout the Industry

Refer - Quote "SKF receives anti-trust approvals in USA and Germany and waives CFIUS condition in acquisition of Kaydon Corporation(10 Oct,2013)"
Gothenburg, Sweden, 08 October, 2013: SKF has received anti-trust approvals in the USA and Germany regarding the company's acquisition of Kaydon Corporation (NYSE:KDN). Given the current U.S. federal government shutdown, SKF has waived the condition for approval of the Committee on Foreign Investment in the United States (CFIUS) under U.S. national security regulations. SKF anticipates that administrative delays will lengthen the period for clearance, however, it has not been notified of any concerns or issues in the review process.
http://en.wikipedia.org/wiki/Committee_on_Foreign_Investment_in_the_United_States
Companies proposing to be involved in an acquisition by a foreign firm are supposed to voluntarily notify CFIUS, but CFIUS can review transactions that are not voluntarily submitted
All other terms and conditions of the tender offer remain unchanged. The tender offer and any withdrawal rights to which Kaydon's stockholders may be entitled is scheduled to expire at 11:59 p.m., Eastern Time, on 15 October, 2013, unless extended or earlier terminated. Unquote
.....................................................................................................

So don't miss this week's webcast! How CEOs Can Grow Their Company Through Acquisitions

Demand access available after event. ExecSense, a service from The Financial Times, is knowledge you can depend on when the future depends on you.

Tuesday, March 3rd, 1:00 PM ET - In this webcast, ExecSense

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examines how CEOs can use acquisition as an effective strategy for growth in 2015. Take the 60 minutes to view this webcast (on your computer, smart phone, tablet device, or ExecSense iOS/Google Android App) to learn how acquisitions can help your organization expand market share and economies of scale, enter new markets, diversify revenue streams, and grow your company in an accelerated manner.

This webcast is led by an expert in how to CEOs can grow their companies through acquisitions, Linda Henman, Ph.D (President - Henman Performance Group) CEOs will learn:

• What every CEO should know about acquisitions, including how to strategically target organizations that will encourage growth, how to do due diligence, and how to handle valuation discussions

• Easy-to-implement tips and best practices that other CEOs are using to determine which targets will provide the best strategic synergies in order to successfully expand into new geographies and demographics

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21 February 2015

Bearing Industry Fraud and Corruption Risk Assessment

What CEOs need to do now to Ensure Your Organization is Protected against the illegal practices of Corporate Crime and Costs.

Over the past 2 years the Bearing Industry has received 53 convictions for Fraud & Corruption, 9 Executives received jail sentences, 2 indicted by USA Grand Jury, over US$2.4 Billion in fines & penalties and Department of Justice investigations continuing in USA EUROPE STH AMERICA KOREA for various acts of corporate crime. These crime proceedings are toxic to our industry and we all need to protect against further acts of Fraud.



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In this webcast, ExecSense examines the steps every CEO must take to protect their business against the risk of fraud. Take the 60 minutes to view this webcast (on your computer, smart phone, tablet device, or ExecSense iOS/Google Android App) and learn everything you need to know in regard to monitoring and preventing potential fraudulent activity at your company.

The webcast is led by expert Dan Draz (CEO - Fraud Solutions) who will discuss why fraud is a major threat to the health of your business, and covers the best practices on how to protect and prevent the risk of being victimized.

CEOs will learn:

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16 February 2015

Beware of NEWS Bearing Smuggling Counterfeit or Contraband

Recent industry news from Chinabearings & other bearing news outlets regarding the smuggling of counterfeit and other contraband goods have been embellished to include Ball & Roller bearings

An article 11 February 2015 relates to alleged smuggled products from the Peshawar region of Pakistan involves "Customs seizes smuggled items worth Rsho1.78m in Lahore". Upon investigating this matter Pakistan officials confirmed to Bearingcode that no Bearing related products of commercial value, either Genuine or Fake where found.

News article reads:
http://customstoday.com.pk/customs-seizes-smuggled-items-worth-rs1-78m-from-band-road/

LAHORE: The Customs Intelligence and Investigation has confiscated smuggled cloth, tyers, motor spare parts and lubrication oil from a bus at Band Road area of Lahore.

Customs Intelligence and Investigation stopped a bus coming from Peshawar to Lahore at Shera kot Check point and foiled number of smuggled goods. During checking smuggled goods were recovered from hidden boxes in the bus. Custom team recovered smuggled cloths made by Korea and 14 pairs of Prado tyers which are very costly. These Japan made tyers were brought to Pakistan through Afghanistan.

Customs Intelligence team also seized lubrication oil from the bus. Lubrication oil was made by famous brand Olympia. During checking ball bearings of different sizes and types were also recovered from the bus. Customs Intelligence and Investigation arrested bus driver Muhammad Zaman Khan and seized the bus as well. Bus was coming from Peshawar to Niazi bus stand Lahore and was intercepted at Shera Kot checkpoint, mutually established by Punjab Police and Customs and Excise department of Punjab.

Total worth of confiscated smuggled items is Rs 1.78 million. Customs duty due on these article is Rs 786814. Customs officials have registered a criminal case against the accused.

NOTE: bearing news from eg. China India & UK appear unaware to investigate their source of article, authenticity or substance of any allegation. They simply gather & print internet/email/fax news items to their site, without Probity or without consulting Bearing personal

6 February 2015

NTN Bearings Japan Judgment for the Anti-Monopoly Act on Bearings

On February 4, 2015 the NTN Corporation (hereafter, NTN) was sentenced to a penalty of 400 million yen by Tokyo District Court for violation of the Anti-Monopoly Act of Japan with respect to the domestic sales of bearings.

In addition, two executives of NTN were sentenced to 18 months and 12 months in prison, respectively, with a stay of execution for 3 years. NTN has lodged an appeal to this judgment.

NTN and former executives received an indictment filed by the Tokyo District Prosecutors Office ("TDPO") on suspicion of having violated the Japan Anti-Monopoly Act in relation to the domestic sales of bearings in 2012

A defense during the trial that assertions by the TDPO were greatly different from the company's view of the facts, claims the NTN Corporation: stating............
"We are disappointed to have such a decision and appealed on the same day will present our view of facts at the appeal hearing. At the same time, we will continue promoting business activities through fair and faithful competition by continuing to strengthen globally our system for thorough compliance with laws and regulations, social norms, ethics, and in-house rules, etc"

Since 2002 through to 2014 the NTN Group has been convicted of corruption in various countries, the largest penality in 2014 Europe for Price Fixing with current allegations of fraud in USA and member to the infamous cartel 'World Bearing Association/Stopfakebearings" who with other members, have a multiple string of corporate convictions for corruption

2 February 2015

Japan's Minebea Convicted of Criminal Case $13.5 Million Fine

http://www.justice.gov/opa/pr/minebea-co-ltd-agrees-plead-guilty-and-pay-135-million-criminal-fine-price-fixing-small-sized

Minebea Co. Ltd., a small sized bearings manufacturer based in Nagano, Japan, has agreed to plead guilty and to pay a $13.5 million criminal fine for its role in a conspiracy to fix prices for small sized ball bearings sold to customers in the United States and elsewhere, the Department of Justice announced today.

According to a one-count felony charge filed today in U.S. District Court for the Southern District of Ohio in Cincinnati, Minebea conspired to fix the prices of small sized ball bearings in the United States and elsewhere. In addition to the criminal fine, Minebea has agreed to cooperate in the department's ongoing investigation. The plea agreement is subject to court approval.

According to the charge, Minebea and its co-conspirator discussed and agreed upon prices to be submitted to small sized ball bearings customers. Minebea's participation in the conspiracy lasted from at least as early as early-to-mid 2008 and continued until at least October 2011.

"Because of the unlawful price-fixing by the defendant and its co-conspirators, American businesses paid more for small-sized bearings than they otherwise would," said Bill Baer, Assistant Attorney General of the Department of Justice's Antitrust Division. "Working with the Federal Bureau of Investigation and our other law enforcement partners, the Antitrust Division will continue our efforts to ensure American businesses and consumers benefit from competitive markets."

27 January 2015

SKF & BrammerUK Profit By Alleged False Counterfeiting

SKF Group teamed with their UK distributor Brammer to bring a new low to Counterfeit bearings by associating the Judiciary with allegations of Corruption, Penalties and a fake Guilty party. This appeared in many industry journals first posted last quarter 2010 but still circulates today in 'Bearing-trends News' site. The sales marketing of this SKF/Brammer story with brochures is considered highly successful; their press release is quoted below

Fake Bearings Warning Issued

Manufacturers are being warned of the threats posed by counterfeit engineering spares after a French distributor was found guilty of selling fake SKF bearings.

Roulement Bearings Kugellager was ordered to pay damages of €45,000 to SKF late last year for distributing copies of its bearings. It was also ordered to pay all of the associated with the confiscation of the counterfeit products as well as the publication of the court order in three magazines.

Jeremy Salisbury at maintenance, repair and overhaul (MRO) products supplier Brammer said the increasing rate of incidence of fake bearings confiscation indicates a growing threat from counterfeiters seeking to exploit these challenging economic times.

"The threat from counterfeit bearings seems to be increasing and given the problems these products can create in terms of unscheduled downtime, reduced performance, damage to machinery, invalidation of warranty and the risk to employee health and safety, it is simply not worth the risk of buying through an unauthorised source," he said.

"The potential impact on production uptime, equipment operational effectiveness and employee health and safety from using counterfeit products far outweighs any initial cost saving achieved through purchasing via an unauthorised source."

SFK warns advises its customers to only buy from authorised dealers and has advice on its website on how to identify reconditioned, fake and tampered bearings.

SKF's UK head office is based in Luton. Unquote

24 January 2015

Bearing Industry Geared For Surprises in 2015

As of 1st January 2015, SKF changed CEO Tom Johnstone to Alrik Danielson, a former SKF Industrial President and member of the SKF Group's Executive Committee from 1985 to 2005. On 19 January 2015, SKF announced the surprise resignation of its Senior Executive Vice President and CFO Henrik Lange, will leave the SKF Group the search for his successor has started and a replacement will be announced in due course http://www.skf.com/group/investors/press-releases/henrik-lange-resigns-executive-vice-president-and-cfo

Johnstone & Lange performed vital roles within the SKF group leaving behind a trail of unprecedented legal concerns for the industry. Firstly, the fallout from three Price fixing convictions France Brazil European Union incurring penalties of approx US$500 million, the allegations of False Counterfeiting, Misleading Claims, Incitement to Industry which are now under Justice investigation. The fallout could be far more costly than the Price Fixing convictions. Then the invention of the illegal cartel World Bearing Association/Stop Fake Bearings with various statements including "We (SKF) are actively working with World Bearing Association" said Johnstone in 2009. This statement and others raised serious concerns with Taxation Authorities that may effect other members of the WBA club.

Schaeffler on the other hand has recently made extended claims to Innovation & Enterprise which had gone missing within the Industry possibly by the invention of World Bearing Association Cartel, Price Fixing & their late night meetings according to EU Commissioner statements and alleged false Counterfeit claims since January 2007, another cause for concern for the Tax man - who pays and who claims ?

There have been a number of changes within the Schaeffler group during this turbulent period with the dismissal of Maria Schaefflers former CEO Jürgen Geisinger who co-invented the cartel World Bearing Association and the Chair for the first alleged false Counterfeit in Germany January 2007

Unfortunately, other members of the WBA Cartel have not fared any better incurring $Billions in penalties. The Japanese Bearing Manufacturers have been involved save a lesser role although representatives from NSK and JTEKT have been indicted for corruption by the US Grand Jury and currently on the run from DOJ, while NTN released last year another alleged false counterfeit claim involving USA Authorities,

With many bearing Executives now missing, who is geared up within the Industry to prevent further deterioration ?

NB. The WBA site Stop Fake Bearings now missing from Schaefflers official home site, maybe time for a refreshing change

16 January 2015

Bearing Involvement With ESOP

For the benefit of Corporate Governance and to review measures of support, Bearingcode has teamed up with ExecSense for periodical webcasts, a service from The Financial Times - "is knowledge you can depend on when the future depends on you"

In this Governance webcast, ExecSense/Bearingcode invite you to look participate in the benefits of ESOP

http://www.execsense.com/what-ceos-need-to-know-about-establishing-an-esop.html

Examines everything you need to know in 60 minutes about evaluating whether an employee stock ownership plan (ESOP) makes sense for your company, best practices on establishing an ESOP for your business, and capitalizing on the many benefits of an ESOP for you and your employees. Take the 60 minutes to view this webcast (on your computer, smart phone, tablet device, or ExecSense iOS/Google Android App) to find out the tax advantages, employee retention benefits, and the other reasons why so many CEOs find ESOPs are such an excellent option for their companies, and their best tips and techniques from having gone through the process of establishing an ESOP.

This webcast is led by an expert on the topic, Thomas Roback (Managing Director - Blue Ridge ESOP Associates), and focuses on:

• Everything you need to know in 60 minutes about an ESOP as a CEO, and best practices and important lessons learned from other CEOs who have considered and/or established an ESOP for their company

• The most important ways employees and management financially benefit from ESOPs, how and when to engage others in the process, and how creating an employee ownership culture can make a significant impact on your company's bottom line

• The most frequently asked questions by CEOs (and their CFOs) about ESOPs; finding the right administrator; keeping control until the owner retires; tax advantages; choosing the proper form of ESOP, how long the process takes, and more

• Specific case studies of CEOs and companies who elected to form ESOPs, how they conducted the transition, how the owners benefitted from the ESOP buy out, and important lessons learned that will help you fully take advantage of an ESOP for your business

Click Here to Register for This Webcast http://www.execsense.com/what-ceos-need-to-know-about-establishing-an-esop.html

ESOP and why they are important to your business both Public & Private http://www.esopassociation.org/

2 January 2015

Bearing Corruption Continues - More Allegations of False Counterfeiting

With current investigations yet to be concluded by various Justice Departments into false & misleading Counterfeit Bearings, another article appears to corrupt 'stopfakebearingsWBA' site

Dated 05.12.2014 the news item complete with photo headed "Largest-Ever Cache of Counterfeit Spindle Bearings is Seized in Germany" appeared on other sites but later withdrawn except www.stopfakebearings.com - There are many discrepancies to this article and legal advice is warranted before further circulation


The alleged article QUOTE:

Largest-Ever Cache of Counterfeit Spindle Bearings is Seized in Germany
Dated: 05.12.2014


The installation of these counterfeit spindle bearings could be prevented

The rolling bearing manufacturer Schaeffler was able, thanks to the assistance of an authorized distributor, to seize a total of 87 FAG spindle bearings and over 2,000 other rolling bearings from the Schaeffler brands INA and FAG. This is the largest cache of counterfeit spindle bearings seized in Germany to date. Subsequent investigation of the incident led back to a German importer, from whom counterfeit Schaeffler products had already been confiscated and who had been issued with a declaration to cease and desist at the start of 2014. The repeated sale of counterfeit products has now placed the existence of this company in grave danger

Suspicions were rapidly confirmed
An authorized Schaeffler sales partner became suspicious after a customer chose one of its competitors following a request for proposal. The customer advised that the reason that it chose the competitor was because it offered a very low price quotation. It seemed inconceivable that original goods could be offered at very low prices. He therefore stayed in contact with the customer and offered to have the supplied bearings inspected by the Schaeffler Brand Protection Team to check whether they were original. It was already clear from photographs of the packaging that the goods had to be counterfeit. Then, while inquiries to the end customer were still ongoing, the first spindle bearing failed and the customer complained to the supplier. An inspection of the entire shipment was then carried out, which prevented the installation of 48 counterfeit spindle bearings and thus saved the end customer from having to deal with even greater damage and delays due to further bearing failures. In addition to the purchase price of the products, the distributor must also bear the costs incurred as a result of the spindle failure, which according to the end customer are in the middle five-figure euro range.

Supplier caught with even more counterfeit products
A further 39 FAG spindle bearings and more than 300 FAG standard bearings were also seized from the supplier. The importer to whom the counterfeit product experts from Schaeffler traced the shipment had already sold counterfeit bearings in the past, making this the second verified case. This time, the importer had procured the products directly from Hong Kong and trusted the letters of confirmation and certificates that supposedly proved that the goods were genuine and that Schaeffler was the supplier. It goes without saying that these documents were just as counterfeit as the bearings themselves. Business transactions of this kind can be prevented by purchasing from authorized distributors and checking the certificates on Schaeffler's homepage. After all, these illegal actions might initially seem lucrative, but for the companies concerned they often lead to grave damage. www.stopfakebearings.com

UNQUOTE