On Sunday, newspapers published discoveries from hundreds of thousands of diplomatic cables disclosed by Wikileaks. But the palace intrigue isn’t only for the diplomatic set. It’s also for the business-obsessed. There are plenty of gossipy comments about the people who control business, trade, and currency across the world. Fortune is keeping its eye on those memos so you don’t have to. Check back regularly to see what we dredge up.
By Chadwick Matlin, contributor
Dec. 3, 2010, 1:50 p.m.: Before you take your next trip to Casablanca, be sure to read the State Department’s incredibly thorough description of the city’s economy circa May 2008. It’s a Lonely Planet for the monetary-minded. It starts with this great, incredulous line: “In Casablanca, Morocco’s largest city and economic capital, prosperity is increasingly on display, raising the question of where it comes from.”
One source: the stock market. Even if aspects of it would be illegal under U.S. law.
The real estate market is also ripe, both in cash and ethic violations.
Also, a side note: There isn’t one “Here’s looking at you kid,” joke in the entire memo. Do diplomats have no sense of humor?
Dec. 3, 2010, 10:15 a.m.: As of this morning, 667 of the 251,287 cables have been released on Wikileaks’ website. That’s an average of about 133 a day. Which, according to the back of our envelope, means we’re going to be reading Wikileaks cables for the next five years. January 29, 2016 is the day we’ll finally exhaust the Wikileaks archive, if this rate holds. Mark it on your calendars. (Thanks to Wolfram Alpha for the calculation.)
If that’s the case, how are the press and society going to treat Wikileaks going forward? The disclosures have led the news for five days running. But they can’t possibly make the front pages for the next 1,883. Will Wikileaks speed up its disclosures? Or will it keep them to a relative trickle, so journalists, historians, and hobbyists can digest them at a reasonable rate?
Ultimately, we have the same question as the rest of the press corps: What’s Julian Assange’s plan?
For clues, head over to the Guardian, where he did a Q+A with readers. His closing thought:
Dec. 3, 2010, 9:30 a.m.: You, like us, surely woke up this morning eager to check the latest releases on Wikileaks’ website. Which means that you, like us, were disappointed to find that it had been attacked over night, forcing its domain-name provider, EveryDNS.net, to revoke its domain. Apparently, for a service provider, Julian Assange is more trouble than he’s worth.
But he’s back! As always, the Swiss stayed neutral, and a Swiss domain provider bailed Assange out. Wikilieaks.org is no more, but Wikileaks.ch is alive and well.
Dec. 2, 2010, 6:00 p.m.: This evening’s new stories in the major papers are all about corruption, chiefly in Afghanistan. They don’t have any explicit business implications, but corruption is the kind of thing that keeps foreign investment away from developing countries. (The omnipresent threat of war can also be a factor.) Drawing on the memos,
has a significant story about Ahmad Zia Massoud, the former vice president of Afghanistan.
The New York Times questioned Massoud about the incident, and he vowed that it was not true. “Fifty-two million dollars is a pile of money as big as this room,” he told the Times.
But somehow, on a salary of a few hundred dollars a month, he has waterfront property in Dubai.
Dec. 2, 2010, 1:30 p.m.: Late last year, the US was hopeful that they could cooperate with Brazil on some sort of energy deal. After a major blackout in the majority of the country, the Brazilians “were strikingly open to discussing the incident with Embassy personnel, non-defensive in response to questions, and forthcoming with their information and assessments.” That led the US embassy to encourage dialogue about how the US might help. From the memo:
Dec. 1, 5:30 p.m.: And we’re back. Or, rather, Wikileaks is. After a morning of attacks from hackers trying to overload its servers and a move from Amazon’s US servers to its new Swedish hosts, Wikileaks.org is again online. We’ll have a full rundown of new business revalations tomorrow. But in the meantime, two snippets to tide you over.
The Guardian is reporting tonight that Russian gas supplies to the EU and Ukraine have deep ties to the mafia. Per the Guardian:
From Russia to Germany, where there was some anger back in 2009 when GM–then controlled by the US government–chose not to sell 55 percent of its European unit, Opel to car parts manufacturer Magna. The diplomatic cable that followed was titled, “GM DECISION NOT TO SELL OPEL GREETED BY SHOCK AND ANGER IN GERMANY.” From the memo:
“Merkel herself was reportedly highly upset over GM’s flip flop.
The coda: In January, Opel announced 8,300 layoffs, 4,000 of which were slated for jobs in Germany. And in November, GM raised $20 billion for its initial public offering.
Dec. 1, 12:00 p.m.: Loyal Leakhawks: We have not been neglecting you. Wikileaks’ servers have been neglecting us. They’ve been down all morning, so we can’t scrape through the newly released memos for their business implications. We’ll be back when they’re back. Promise.
Nov. 30, 2:41 p.m.: Maksat Idenov was once the man in charge of Kazakhstan’s foreign energy partnerships. He resigned in May, but while he was in charge, he was as mercurial as could be. Especially with foreign companies looking to profit off of Kazakhstan’s rich oil reserves. In one episode, he asserted his power by throwing two Chevron executives out of a meeting because the Chevron official didn’t have his cell phone number immediately at hand. Chevron is currently the largest private oil company in Kazakhstan. From the 2008 memo:
His volatility also made him a great dinner guest. In 2010, again before he resigned, he sat down for dinner with American ambassador Richard Hoagland. As Hoagland arrived, Idenov was on the phone. From the memo:
And in a section of the memo labeled “HOW TO ORDER LAMB,” it recounts Idenov’s eating habits:
Next time you’re in Astana, don’t get the steak tartare.
Nov. 30, 12:45 p.m.: Kim Jong-il’s successor, his son Kim Jong-un, appears unlikely to vastly change the country’s economic policy. Even before the country revalued its currency in 2009, which wiped out much of North Koreans’ savings, American diplomats knew that Kim Jong-un favored a system that made North Koreans heavily dependent on the government for economic assistance. From the memo:
Nov. 30, 12:15 p.m.: Apparently, North Korea doesn’t mind selling its country for some new condos. It’s hard to attract foreign investment when you’re a rogue state, so North Korea sweetened a deal to get China to buy-in to some new apartments in downtown Pyongyang. From the memo: