NOBEL PEACE PRIZE 2000

The Nobel Peace prize for 2000 has been awarded to South Korea’s President Kim Dae-jung for his efforts to promote democracy and human rights in South Korea and East Asia in general, and for the promotion of peace and conciliation with North Korea in particular.

NORWAY MUST CHOOSE SIDES (Dagsavisen)

In a hard-hitting speech to the Norwegian Labour Youth League Conference yesterday, newly elected leader Eva Kristin Hansen called for Norway to choose sides in the Middle East conflict. "We have been shocked by the attacks on the Palestinians. Up to now Norway has kept a neutral line so that we can arbitrate in the conflict. But condemning the use of violence is not enough, we also have to condemn those who are behind the violence," said Ms Hansen, whose criticism was clearly aimed at Foreign Minister Thorbjørn Jagland’s current stance.

PROGRESS PARTY HAS MELLOWED (Aftenposten)

The Progress Party’s proposed new party programme contains some significant policy changes. Gone is the demand for the abolition of direct income taxes, along with the desire to privatise the entire public service sector. The programme committee, led by deputy chairman Siv Jensen, is also keen to underline that the Progress Party is "a supporter of the public right of access to the countryside" and "will ensure that the general public has sufficient access to the seashore".

ARMED FORCES REWARD FAST RESIGNATIONS (Aftenposten)

From 1 September, officers have been able to apply for three years’ salary in return for their resignation while civilian employees have been entitled to two years’ pay. In addition those who give their notice during the first two months of the offer being made, will receive a quick-response premium worth three months’ salary. The Armed Forces aim to save NOK 2 billion by giving severance pay to 5,000 employees. Around 3,000 service personnel have so far applied for a "golden handshake".

FEAR THAT RURAL COMMUNITIES WILL LOSE BANKING SERVICES (Dagsavisen)

The savings banks are concerned that turning themselves into limited companies would lead to the demise of the banking sector in rural areas. However, the Finance Minister claims that as limited companies the savings banks would have greater flexibility. "If the savings banks are permitted to transform themselves into limited companies, they would have greater freedom to choose the method of attracting equity capital that they find most appropriate," says Finance Minister Karl Eirik Schjøtt-Pedersen.

MAJOR INCREASE IN WHITE COLLAR CRIME (Nationen)

Crime involving fraud, deception and financial misconduct is rising faster than other forms of criminal offence. In the past four years the incidence of perjury has risen by 62 per cent, fraud and breach of trust has increased by 52 per cent and tax evasion by 130 per cent. Both the police and researchers say the increase is due to a combination of new technology and declining moral standards, and that a high standard of living has created a society where envy pushes many people to take short cuts.

EEA TROUBLE FOR IT FORNEBU (Aftenposten)

According to the EFTA Surveillance Authority (ESA), the sales agreement between the Government and IT Fornebu Technoport is probably in breach of EEA regulations. The ESA is threatening to instigate a full investigation if the Government does not demand the return of a NOK 33.4 million discount it gave to IT Fornebu, which had hoped to start building two years ago. Trouble with the EEA means that, at worst, building many not start for yet another year. Despite this, IT Fornebu Technoport is not planning to give back the extra millions without a fight.

GUNDERSEN FAILED TO DISCLOSE ALL THE DETAILS (Dagens Næringsliv)

Storebrand’s internal control committee had to request a full account of chief executive Åge Korsvold’s terms and conditions from chairman Jon R. Gundersen. The agreement was duly handed over, but Mr Gundersen held back the fact that Mr Korsvold’s right to purchase the company-owned house at a substantial discount, had not been approved by the board.

WORTH NOTING

1. "Israel must stop the bombing immediately. Enough is enough! This is clearly an over-reaction to the killings in Ramallah," said Foreign Minister Thorbjørn Jagland yesterday, in a strongly worded condemnation of Israel. (Dagbladet)
2. Einar Steensnæs, deputy parliamentary leader of the Christian Democrats, praises the Progress Party’s new party programme for its more moderate language. "But it is actions that count, and in that respect the Progress Party has not changed its spots," says Mr Steensnæs. (Aftenposten)
3. The Progress Party is attempting to curry favour with the Conservatives by moderating its views on race. But the language of the party programme is in stark contrast to what Progress Party leaders actually say. (Dagsavisen)
4. The Progress Party supports debt relief for developing countries. The party also wishes to permit cloning. (Vårt Land)
5. Former leader of the Norwegian Labour Youth League, Anniken Huitfeldt, has called for the Government Petroleum Fund to be renamed the Future Fund, with a specially created commission to supervise how the money is spent. (Aftenposten)
6. Angry customers are threatening to cancel their insurance policies with Storebrand following the scandal surrounding former chief executive Åge Korsvold. According to Storebrand, only a few have done so. The company’s competitors, on the other hand, have announced an increase in business from Storebrand customers. (Dagens Næringsliv)
7. The sale of Telenor shares – billed as "the people’s share" – to small investors may have become more difficult following recent stock market turbulence, the collapse of technology shares and the downturn for Swedish telecom company, Telia. According to several spokesmen for small investors, the public has become more sceptical towards IT shares and Telenor’s credibility. (Dagens Næringsliv)
8. An official engagement between Crown Prince Haakon and single-mother Mette-Marit Tjessem Høiby is a hot issue at the Palace these days. The date has not been set, but the crown prince’s partner is due to make her first official appearance sometime during the autumn. An official engagement may be announced at the same time. (Aftenposten)

TODAY’S COMMENT FROM DAGENS NÆRINGSLIV

Norwegian senior executives are not particularly greedy. On the other hand, they and the boards who employ them, are embarrassingly lily-livered. The culture of greed is supposed to explain the high casualty rate at the top of the Norwegian private sector. Compared with colleagues from other countries, Norwegian top and middle-level executives don’t make a great deal of money. It is too simplistic to believe that envy is a national character defect, and that this is the reason for the high casualty rate among Norwegian senior executives. That is where cowardice comes into the picture. The reason that so many people have lost both power and position is not because of the money they have been paid for their services. The reason is that they, or their employers, have not been open about the compensation they receive. Consciously or unconsciously, they have created the impression that senior executives’ pay agreements won’t stand the light of day. To represent protestant frugality commands respect. On the other hand, asking for a good salary in return for a heavy responsibility is not improper. Playing the frugal puritan in public while quietly fixing substantial bonuses in the hope that no one will notice, is just plain cowardly. And in Norway, it’s a lousy way to boost your career.

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