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82-472: AECOM ( / eɪ . iː ˈ k ɒ m / , ay-ee- KOM ; formerly AECOM Technology Corporation ; stylised A Ξ COM ) is an American multinational infrastructure consulting firm headquartered in Dallas, Texas. AECOM has approximately 51,000 employees, and is number 291 on the 2023 Fortune 500 list. The company's official name from 1990–2015 was AECOM Technology Corporation, and is now AECOM. The company

164-583: A "transformation into a higher-margin, lower-risk Professional Services business". In August 2021, AECOM announced plans to relocate its global headquarters from Los Angeles, California to Dallas, Texas . The company has worked on megaprojects including the Sutong Yangtze River Bridge (the world's longest cable-stayed bridge ), One World Trade Center (the tallest tower in the Western Hemisphere), as well as some of

246-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

328-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

410-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

492-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

574-465: A provider of consulting services to the US Agency for International Development and other multi-lateral donor organizations. On July 28, 2008, AECOM completed its purchase of Earth Tech Inc., a consulting and engineering firm, from Tyco International for $ 510 million. On July 14, 2010, AECOM announced its acquisition of Tishman Construction Corp., a leading provider of construction management services in

656-575: A purchase price of $ 260 million in cash. URS announced its acquisition of Flint Energy Services, a provider of construction services in the oil and gas industry, based in Calgary, Alberta, on February 20, 2012. On October 20, 2014, URS was officially acquired by AECOM. URS provided ongoing management and operation of the 4,200-acre Kennedy Space Center complex, including its 900 mission-specific facilities, 16,000 unique NASA systems and equipment, and 600 unique U.S. Air Force systems and equipment. In

738-431: A refining operation called Ashland Refining Company, headed by Paul Blazer . While the parent company struggled, leading to the ouster of Miles, Ashland prospered under Blazer's leadership, and in 1936, he was named chief executive officer of the reorganized company, Ashland Oil & Refining Company. In 1966, Ashland acquired Warren Brothers and became involved in highway construction and construction materials. The company

820-417: A year later was reorganized as a modified holding company. A new corporate strategy was implemented as Ashland now focused on refining and marketing and sought to grow its non-refining businesses. In 1984, Ashland acquired Daniel, Mann, Johnson & Mendenhall (DMJM), a global provider of transportation-related engineering services. Originally focused on military projects, after World War II it had become one of

902-539: Is headquartered in Dallas, Texas, United States, with clients in more than 150 countries. The company reported a revenue of US$ 17.4 billion during the 12 months that ended September 30, 2016. In 2024, the company reported revenue of $ 14.37 billion, with an operating income of $ 324 million. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

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984-698: Is listed on the New York Stock Exchange (NYSE) under the ticker symbol ACM and on the Frankfurt Stock Exchange under the ticker symbol E6Z. AECOM traces its origins to Kentucky-based Ashland Oil & Refining Company , which in turn grew out of Swiss Drilling Company, founded in Oklahoma in 1910 by J. Fred Miles. He gained control of some 200,000 acres and formed Swiss Oil Company in Lexington. In 1924, Miles launched

1066-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1148-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1230-629: The Baltimore and Ohio Railroad and worked at one time for Gustav Lindenthal , including on the Seventh Street Bridge . URS acquired the Denver, Colorado based civil, geotechnical and environmental engineering firm Woodward-Clyde Group in 1997 for $ 100 Million, bringing additional environmental capabilities and a broader international presence to the organization. When Dames & Moore Group joined in 1999 (which had recently absorbed

1312-556: The Department of Energy and Department of Defense . On January 31, 2020, this transaction was completed with the new company being called Amentum . In October 2020, AECOM announced the sale of its Power construction business to private equity firm CriticalPoint Capital. In December 2020, AECOM announced the sale of its Civil construction business, including Shimmick Construction, to private equity firm Oroco Capital, which completed January 5, 2021. AECOM explained these divestitures as

1394-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

1476-781: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

1558-626: The "Energy and Construction Division". On June 12, 2009, URS Chief Executive Officer Martin Koffel indicated the company was still on the hunt for "transformative acquisitions". An analyst with Gabelli & Co. stated that KBR , Chicago Bridge & Iron Company , and Foster Wheeler AG may be possible takeover targets. On September 10, 2010, URS completed its acquisition of the British engineering firm Scott Wilson Group . On June 2, 2011, URS completed its acquisition of Apptis Holdings, Inc. for

1640-459: The 1970s, Ashland Oil & Refining became Ashland Oil, Inc. Five years later the company consolidated its construction assets into a construction division and also formed a coal subsidiary, indicative of a changing focus at Ashland. Although it generated more than $ 1 billion a year in sales, Ashland was a small player in the oil industry at a time when the cost of exploration was prohibitively expensive. By 1980, Ashland sold its production assets, and

1722-535: The Australian firm Hardcastle & Richards ), URS further strengthened its program and construction management expertise and added to its FORTUNE 500 client base. In February 1999, URS also acquired transport consultant Thorburn Colquhoun. In 2002, URS acquired EG&G Technical Services, positioning the company as a leading U.S. federal services contractor. In November 2007, URS acquired Washington Group International of Boise for $ 3.1B and operated it as

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1804-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

1886-663: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

1968-483: The Golden Gate Bridge, Highway and Transportation District blamed the acquisition for delaying construction of a safety barrier at the bridge by 2 years. In October 2019, AECOM announced plans to sell their Management Services division to private equity firm American Securities LLC and Lindsay Goldberg for $ 2.405 billion. Management Services provides services and support to governmental clients including

2050-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

2132-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

2214-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

2296-586: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

2378-657: The Starboard Value board member in protest over the selection. AECOM was included on Fortune 's list of the world's most admired companies in 2024. AECOM provides Archaeology, Architecture & Design, Urban Planning, Landscape Architecture, Asset Management, Construction, Cost Management, Decommissioning & Closure, Economics, Engineering, Environmental Services, International Development, IT & Cyber Security, Operations & Maintenance, Planning & Consulting, Program Management/Construction Management, Risk Management & Resilience and Technical Services. AECOM

2460-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

2542-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

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2624-731: The United Kingdom, a URS-led team was responsible for management and operation services at the Sellafield nuclear complex, including commercial operations, waste management, support services, decontamination and decommissioning, and new construction projects. Sellafield is one of the largest and most complex nuclear sites in the U.K., storing and treating nuclear waste from both the U.K.'s military and civil nuclear programs. URS lost this contract in January 2015. URS provided comprehensive project and construction management services for

2706-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

2788-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

2870-739: The United States and the United Arab Emirates, in a $ 245 million transaction including $ 202 million in cash and the remainder in AECOM common stock. On July 13, 2014, AECOM announced its acquisition of URS Corporation , an engineering, construction, and technical services firm for US$ 56.31 per share in cash and stock. Effective July 10, 2014, it acquired ACE International Consultants SL, a Madrid-based provider of consulting services. In July 2014, it acquired Hunt Construction Group, adding to AECOM's construction services business. In July 2017, AECOM acquired Shimmick Construction Company. Officials at

2952-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3034-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3116-477: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

3198-696: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

3280-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

3362-456: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

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3444-601: The admission of negligence or wrongdoing on the part of URS. In November 2008, the National Transportation Safety Board determined the probable cause of the collapse of the I-35W bridge was "inadequate load capacity, due to a design error by Sverdrup & Parcel and Associates, Inc., of the gusset plates at the U10 nodes, which failed under a combination of (1) substantial increases in the weight of

3526-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

3608-569: The bridge, which resulted from previous modifications, and (2) the traffic and concentrated construction loads on the bridge on the day of the accident." URS was not involved in the work being conducted on the bridge at the time of the collapse or in the design of the bridge. The Martin Olav Sabo Bridge over Hiawatha Avenue in Minneapolis experienced failure of two of its longest support cables on February 20, 2012. URS Corporation

3690-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

3772-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

3854-465: The company and was succeeded as COO by Randy Wotring. As of March 2019, key leaders of AECOM were as follows: In November 2019, AECOM announced that Burke would retire as chairman and CEO. The change was announced to be effective after either the next annual meeting or completion of the search for a replacement. At the same time, AECOM said that the board of directors would be expanded to include representatives of activist-shareholder Starboard Value ,

3936-520: The company. Dionisio had previously served as COO from October 2003 to October 2005 and president and CEO of the subsidiary DMJM+Harris from October 2000 to October 2003. In October 2011, Michael S. Burke succeeded Dionisio as president and then in March 2014 succeeded him as CEO. Burke joined AECOM in 2005 and was appointed CFO in 2006. In 2011, Stephen M. Kadenacy was named chief financial officer, later promoted to president and COO. In 2017, Kadenacy left

4018-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

4100-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

4182-677: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). URS Corporation URS Corporation (formerly United Research Services ) was an engineering , design , and construction firm and a U.S. federal government contractor. Headquartered in San Francisco , California , URS was a full-service, global organization with offices located in the Americas , Europe , Africa , and Asia-Pacific . URS

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4264-399: The end of February 2014, the hedge fund Jana Partners disclosed that they had acquired an activist investor ownership position in the publicly traded company, announcing an intent to engage the corporate management on board and corporate structure and to create shareholder value. Amidst industry speculation of a corporate breakup for URS, AECOM announced on July 13, 2014 that an agreement

4346-400: The fifth largest shareholder. Amid market speculation that AECOM would be acquired by WSP Global , AECOM announced the selection of W. Troy Rudd to be CEO. The change will be effective as of October 1, 2020. Before his appointment as CEO, Rudd served as CFO for the company. The announcement included naming Lara Poloni as the new president. The announcement resulted in the resignation of

4428-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

4510-463: The first integrated engineering and architectural firms in the western United States. The acquisition of DMJM also included its president, Richard G. Newman . In 1985, DMJM became part of a new subsidiary, Ashland Technology Corporation. Two years later Newman was named its new chief executive and president. When Ashland chose to return to its core petroleum refining business in the late 1980s, Newman recommended an employee buyback proposal, resulting in

4592-458: The fiscal year 2013 revenue and earnings were below expectations, URS made some management changes. URS had acquired Flint Energy Services for $ 1.25 billion in February 2012, creating an oil and gas division for the company. Issues in the oil and gas division were cited for the poor financial performance in fiscal year 2013 and URS announced the resignation of senior staff from that division. By

4674-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

4756-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

4838-553: The largest cement manufacturing facilities in the world. The I-35W bridge in Minneapolis collapsed in August 2007, killing 13 people and injuring 145. In 2003, URS had been retained by the Minnesota Department of Transportation to conduct a fatigue evaluation and a redundancy analysis of the bridge. Lawsuits filed in 2008 and 2009 cite the company with negligence. In 2010, these lawsuits were settled out of court without

4920-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

5002-435: The largest sports venues, ports, and disaster recovery programs in the world. AECOM's first president and CEO was Richard G. Newman, who came to Ashland through its acquisition of Daniel, Mann, Johnson & Mendenhall (DMJM). Under Ashland Oil's ownership, he was president and chief operating officer of DMJM from October 1985 to December 1988. While president of Ashland Technology Corp. from December 1988 until May 1990, Newman

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5084-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

5166-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

5248-480: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

5330-483: The name Broadview Research was changed to United Research Services and later shortened to URS. URS was publicly traded as NYSE :  URS from January 13, 1978 through its acquisition by AECOM on October 17, 2014. It was originally traded as Thortec. A major investor was Richard Blum , husband of Senator Dianne Feinstein . As of June 2013, the firm had more than 50,000 employees worldwide, in nearly 50 countries. Following announcements in early February 2014 that

5412-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

5494-631: The quantity surveyors and construction consultants. In 2000, AECOM acquired Metcalf and Eddy, a water and wastewater engineering firm based in Massachusetts, and in September, 2004 it acquired the Canadian company, UMA Engineering Ltd. AECOM went public during May 2007 with an initial public offering on the NYSE, netting $ 468.3 million. On January 8, 2008, AECOM acquired The Services Group, Inc.,

5576-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

5658-783: The reconstruction of the UCLA Ronald Reagan Medical Center, the largest building project ever undertaken by the University of California. URS was the contractor for the Port Washington Generating Station in Wisconsin, an 1100 MW combined-cycle power plant, which was recognized by Power Magazine as one of its top plants of 2008. URS also helped build the state-of-the-art Holcim cement manufacturing plant in Missouri, one of

5740-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

5822-452: The spin-off of Ashland Technology and the creation of AECOM (Architecture, Engineering, Construction, Operations, and Management) in 1990. The company went on to acquire a number of engineering, design and planning firms including engineering company Maunsell, urbanism and sustainability practice EDAW , Economic Research Associates (ERA), environmental management firm ENSR and The RETEC Group Inc., architects Ellerbe Becket and Davis Langdon ,

5904-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

5986-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

6068-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

6150-440: Was able to take advantage of refinery byproducts to produce asphalt. Ashland grew into one of the nation's major road-construction firms, and laid a foundation for AECOM. Through a series of acquisitions and technological developments, Ashland grew to include chemical, petrochemical, highway construction, and construction materials firms within its realm, laying the groundwork for a management buyout of Ashland Technology in 1985. In

6232-494: Was acquired by AECOM on October 17, 2014. URS Corporation’s oldest predecessor company was founded in 1904. URS was established in 1951 and incorporated in 1957 as Broadview Research – a research group active in the area of physical and engineering sciences. In 1967, management developed a growth strategy focused on building a multidisciplinary professional services firm. In 1968, Broadview Research acquired United Research Incorporated of Cambridge, Massachusetts. During this period,

6314-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

6396-499: Was instrumental in taking it from a division of Ashland Oil to an independent company. He was president when the company changed its name to AECOM Technology Corporation in April 1990. Newman was president until 1993, and then chairman, president and CEO from May 1993 to October 2000, and chairman and CEO from 2000 to 2005. In October 2005, John M. Dionisio succeeded Newman as president and CEO of AECOM. In 2011, Dionisio became chairman of

6478-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

6560-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

6642-402: Was reached to acquire URS for about $ 4 billion in cash and shares with another $ 2 billion in assumed debt. The final acquisition was decided on October 17, 2014, and URS was officially part of AECOM as of October 20, 2014. In 1996, URS acquired Greiner Engineering for $ 73.5 million. Greiner Engineering had been established in 1908 by John E. Greiner. Greiner was a former bridge engineer for

6724-487: Was the design consultant for the bridge that was completed in 2007. These failures resulted in closures of Hiawatha Avenue and the adjacent light rail between Mall of America and downtown Minneapolis for safety precautions while support structures were put in place. Rail service was restored after four days while Hiawatha Avenue road traffic remained closed for staging of construction equipment. This failure occurred less than 18 months after URS Corporation settled out of court

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