Consulting Firm Ends Work With ICE, Citing “Values,” But Still Works for Chinese Government Consulting Firm Ends Work With ICE, Citing “Values,” But Still Works for Chinese Government – NTK Network

Consulting Firm Ends Work With ICE, Citing “Values,” But Still Works for Chinese Government

According to McKinsey’s website, 30 percent of McKinsey’s clients in greater China are state-owned enterprises.

By NTK Staff | 07.10.2018 @4:29pm
Consulting Firm Ends Work With ICE, Citing “Values,”  But Still Works for Chinese Government

McKinsey & Company announced this week they have stopped working with Immigration and Customs Enforcement (ICE), after employee backlash that McKinsey had done $20 million in consulting work for the agency.

According to the New York Times, McKinsey’s new managing partner, Kevin Sneader, wrote in a letter that the company “will not, under any circumstances, engage in any work, anywhere in the world, that advances or assists policies that are at odds with our values.”

However, McKinsey has no problem making millions of dollars off work with the communist regime in China, entering into illegal contracts in South Africa, or flouting American bankruptcy laws.

According to McKinsey’s website, 30 percent of McKinsey’s clients in greater China are state-owned enterprises, and 10 percent are Chinese government and non-profit organizations.

Meanwhile, recent investigations by the Wall Street Journal and the New York Times have raised serious questions about just what kinds of values McKinsey espouses.

The Wall Street Journal found that McKinsey’s bankruptcy restructuring division, McKinseyRTS, “routinely discloses far fewer names and descriptions of connections than other advisers.” A second investigation by the Wall Street Journal found that a “McKinsey & Co. retirement fund held investments that gave it a financial interest in the outcome of six bankruptcy cases in which the company also was serving as an adviser,” raising further conflict-of-interest questions for the consulting giant.

And just two weeks ago the New York Times detailed McKinsey’s scandal-plagued foray into South Africa, which involved an illegal $700-million contract that is still under investigation by South African officials.

It appears assisting a federal law enforcement agency that is responsible for pursuing foreign terrorists and rounding up dangerous immigrant criminals is against McKinsey’s “values,” but working for the Chinese government is not.

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