Terrorists attack New York City World Trade Center and The Pentagon.
NEWS SOURCES AROUND THE WORLD, SEPTEMBER 11, 2001
Eighty countries lost citizens in the World Trade Center
SEC. COLIN POWELL, SEPTEMBER 23, 2001
No longer is the risk of terrorism for global businesses focused only on certain areas such as South America or the Middle East. That risk now has to be considered in countries such as the United States, which had previously been regarded as safe. Many companies from Asia and Europe had office branches in the towers of the World Trade Center in New York; most of those offices, along with the employees from those countries, were destroyed in the attack. Thousands of lives and billions of dollars were lost, not only by those immediately affected by the attack, but to countless small and large businesses impacted by the ripple effect; global airlines and financial markets were devastated.
As incidents of terrorism accelerate around the world, such as the 2000 bombing of the USS Cole in Yemen, many companies are also increasingly aware of the need to manage the risk of terrorism. Both IBM and Exxon try to develop a benevolent image in high-risk countries through charitable contributions to the local community. They also try to maintain low profiles and minimize fublicity in the host countries by using discreet corporate signs at the company sites, for instance. 50 Some companies have put together teams to monitor the patterns of terrorism afound the world. Kidnappings are common in Latin America (as a means of raising money for political activities). Abductions in Colombia hit a record 3,029 in 2000. In the Middle East, airplane hijackings, the kidnapping of foreigners, and blackmail (for the release of political prisoners) are common. In Western Europe, typically, terrorists aim bombs at U.S. banks and computer companies. Almost all MNCs have stepped up their security measures abroad, hiring consultants in counterterrorism (to train employees to cope with the threat of terrorism) and advising their employees to avoid U.S. airlines when flying overseas.
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