Saturday, February 8, 2014

Swiss Swatch on Swish Laws in Russia. Neutral. And by the way U.S...

The eccentric chief executive officer of Swatch Group (Nick Hayek), one of the world's top watchmakers, was so incensed by recent allegations of mass U.S. spying that he chastised a top New York official over the matter in a letter late last year... 

Hayek's comments were released this week, along with those from five other companies that responded... (They were asked to take a stance against Russia's recent clampdown on gays ahead of the winter games in Sochi.)

Please make me one, Nick.
"As you claim you are an investor with Swatch Group you should be equally preoccupied about what has been publicized lately: the massive collection of data of the NSA worldwide including Switzerland," fumed Hayek, whose first language is not English, in a letter dated December 13.

"Swatch Group is an innovative industrial leader; at the heart of our success are very innovative products," Hayek continued. "The integrity of our confidential information is key to develop successful products. The practices that apparently have become a habit from organizations like the NSA can create huge damage to our company and our shareholders."

"As an investor you should have all interest to speak up loud about such potentially damaging practices coming from the USA," Hayek said.
 (more) (sing-a-long)