Below are many highly revealing one-paragraph excerpts of important corporate corruption articles from the mainstream media. Links are provided to the full articles on major media websites. If any link should fail to function,
click here. These corporate corruption news articles are listed by order of importance. For the same articles by date posted to this list,
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The Sale of Electoral Politics
2005-06-00, Project Censored (University website exposing media cover-ups)
http://www.projectcensored.org/publications/2005/6.html
ES&S, Diebold, and Sequoia are the companies primarily involved in implementing the new, often faulty, technology at voting stations throughout the country. All
three have strong ties to the Bush Administration along with major defense
contractors in the United States. Some of the most generous contributors to Republican campaigns are also some of the largest investors in ES&S, Sequoia,
and Diebold. Most notable of these are government defense contractors
Northrup-Grumman, Lockheed-Martin, Electronic Data Systems.
Halliburton Subsidiary Taps Contract For Repairs
2005-09-05, Washington Post/Associated Press
http://www.washingtonpost.com/wp-dyn/content/article/2005/09/04/AR20050904011...
An Arlington-based
Halliburton Co. subsidiary that has been criticized for its reconstruction work
in Iraq has begun tapping a $500 million Navy contract to do emergency repairs
at Gulf Coast naval and Marine facilities damaged by Hurricane Katrina. The
subsidiary, Kellogg, Brown & Root Services Inc., won the competitive bid
contract last July to provide debris removal and other emergency work associated
with natural disasters. KBR has been at the center of scrutiny for receiving
a five-year, no-bid contract to restore Iraqi oil fields shortly before the
war began in 2003. Halliburton has reported being paid $10.7 billion for
Iraq-related government work during 2003 and 2004. The company reported its
pretax profits from that work as $163 million. Pentagon auditors have questioned
tens of millions of dollars of Halliburton charges for its operations there.
Last month three congressional Democrats asked Defense Secretary Donald H. Rumsfeld
to investigate the demotion of a senior civilian Army official, Bunnatine
H. Greenhouse, who publicly criticized the awarding of that contract. Vice
President Cheney headed Halliburton from 1995 to 2000.
The true story of how multinational drug companies took liberties with African lives
2005-09-26, The Independent (One of the U.K.'s leading newspapers)
http://news.independent.co.uk/world/science_technology/article315125.ece
The pharmaceutical industry is bracing itself for criticism when the film 'The Constant Gardener' opens next month. Away from the Hollywood
script is a true story of how multinational drug companies took liberties
with African lives with devastating consequences. Directed by
Fernando Meirelles, of City of God fame, it is a thriller, a love story
and a blistering attack on the drugs industry and the way it carelessly expends
the lives of innocent citizens in the Third World in the quest for billion-dollar
medicines to sell to the first world. After the credits roll, a note from John Le Carré appears on screen that reads: "As my journey through the pharmaceutical jungle progressed, I came to realise that, by comparison with the reality, my story was as tame as a holiday postcard." The film
features two brutal killings, a savage beating, a campaign of harassment,
intimidation and threats. The crimes of the pharmaceutical industry - from the price protection of Aids drugs which have denied life-saving medicines to millions, to the cover up of lethal side effects to protect profits - are well documented. The companies are not obliged to disclose
a lot of information about how they test or make their drugs. There's big,
big money involved. Editors of medical journals
including The Lancet and The Journal of the American Medical Association had
come under pressure not to publish data or to change it. The bigger scandal...lies
in the rapacious pricing of the pharmaceutical industry that puts lifesaving
drugs out of reach of individuals, hospitals and even nations.
Psychiatric drugs fare favorably when companies pay for studies
2006-05-24, USA Today
http://www.usatoday.com/news/health/2006-05-24-drug-studies_x.htm?POE=NEWISVA
Drug companies fund a growing number of the studies in leading psychiatric journals, and drugs fare much better in these company-funded studies than in trials done independently or by competitors, researchers reported Wednesday. About 57% of published studies were paid for by drug companies in 2002, compared with 25% in 1992, says psychiatrist Igor Galynker of Beth Israel Medical Center in New York City. His team looked at clinical research in four influential journals: American Journal of Psychiatry, Archives of General Psychiatry, Journal of Clinical Psychiatry and Journal of Clinical Psychopharmacology. In the report, released at the American Psychiatric Association meeting in Toronto, reviewers did not know who paid for the studies they evaluated, Galynker says. There were favorable outcomes for a medication in about: eight out of 10 studies paid for by the company that makes the drug; five out of 10 studies done with no industry support; three out of 10 studies done by competitors of the firm making the drug. As drug companies increasingly fund research that yields favorable outcomes for their drugs, there may be a built-in bias because journals are reluctant to publish studies with negative or inconclusive findings.
Note: To learn more about the astonishing profits and power of the major drug companies, read our concise summary of a major insider's research at http://www.WantToKnow.info/healthcoverup
Medical Journal Says It Was Again Misled
2006-07-12, New York Times/Associated Press
http://www.nytimes.com/2006/07/13/health/13jama.html?ex=1310443200&en=a20364b...
For the second time in two months, The Journal of the American Medical Association says it was misled by researchers who failed to reveal financial ties to drug companies. The latest incident, disclosed in letters to the editor and a correction in Wednesday's journal, involves a study showing that pregnant women who stop taking antidepressants risk slipping back into depression. Most of the 13 authors have financial ties to drug companies including antidepressant makers, but only two of them revealed their ties when the study was published in February.
Note: To understand how the drug companies manipulate results and even exert tremendous influence over the U.S. Congress, see http://www.WantToKnow.info/healthcoverup
Medicare drug plan is prescribing profits
2006-08-04, San Francisco Chronicle
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/08/04/BUG2PKAJGH39.DTL
Medicare's drug benefit has given a shot in the arm to pharmaceutical companies and insurers, whose revenue is climbing thanks to government subsidies for prescription medicine. What's happened so far: Drugmakers including GlaxoSmithKline and Pfizer reported higher-than-expected sales and profit in the second quarter, with some of the momentum coming from Medicare. Meanwhile, membership rolls of big insurers, including UnitedHealth Group and Humana, are mushrooming as Medicare beneficiaries sign up for drug plans. Drug companies -- which successfully thwarted price-control attempts -- are reaping the rewards of more seniors and disabled people getting access to their medications. British drugmaker GlaxoSmithKline's second-quarter net income grew 14 percent over the same quarter last year due in part to strong Medicare drug sales. Merck & Co., Schering Plough, Wyeth, Roche and Pfizer...all exceeded analysts' expectations, reflecting sales boosts from the program. In the first three months of the benefit, brand-name drug prices rose 4 percent, according to a report from the AARP. WellPoint Inc., the nation's largest insurer, reported second-quarter profit gains of 34 percent. UnitedHealth...posted quarterly profit gains of 26 percent. Humana reported earlier this week its second-quarter profit increased 9.9 percent and revenue jumped 52 percent over the same quarter last year, due in large part to a surge in Medicare membership. The insurer expects annual revenue to grow by 50 percent.
Note: This article fails to mention who pays for all these profits -- our tax dollars. To understand the degree of corruption in the pharmaceutical industry, read a two-page summary by one of the most respected MDs in the U.S. at http://www.WantToKnow.info/healthcoverup
Dubious Fees Hit Borrowers in Foreclosures
2007-11-06, New York Times
http://www.nytimes.com/2007/11/06/business/06mortgage.html?ex=1352005200&en=2...
As record numbers of homeowners default on their mortgages, questionable practices among lenders are coming to light in bankruptcy courts, leading some legal specialists to contend that companies instigating foreclosures may be taking advantage of imperiled borrowers. Because there is little oversight of foreclosure practices and the fees that are charged, bankruptcy specialists fear that some consumers may be losing their homes unnecessarily or that mortgage servicers, who collect loan payments, are profiting from foreclosures. Bankruptcy specialists say lenders and loan servicers often do not comply with even the most basic legal requirements, like correctly computing the amount a borrower owes on a foreclosed loan or providing proof of holding the mortgage note in question. “Regulators need to look beyond their current, myopic focus on loan origination and consider how servicers’ calculation and collection practices leave families vulnerable to foreclosure,” said Katherine M. Porter, associate professor of law at the University of Iowa. In an analysis of foreclosures in Chapter 13 bankruptcy, the program intended to help troubled borrowers save their homes, Ms. Porter found that questionable fees had been added to almost half of the loans she examined, and many of the charges were identified only vaguely. Collectively they could raise millions of dollars for loan servicers at a time when the other side of the business, mortgage origination, has faltered. In one example, Ms. Porter found that a lender had filed a claim stating that the borrower owed more than $1 million. But after the loan history was scrutinized, the balance turned out to be $60,000. And a judge in Louisiana is considering an award for sanctions against Wells Fargo in a case in which the bank assessed improper fees and charges that added more than $24,000 to a borrower’s loan.
USDA may relax standards for organic foods
2007-06-09, Los Angeles Times
http://www.latimes.com/news/printedition/front/la-fi-organic9jun09,1,1653705....
Many beer drinkers may not know that Anheuser-Busch has the organic blessing from federal regulators even though Wild Hop Lager uses hops grown with chemical fertilizers and sprayed with pesticides. The [USDA] is considering a list of 38 nonorganic ingredients that will be permitted in organic foods. Because of the broad uses of these ingredients — as colorings and flavorings, for example — almost any type of manufactured organic food could be affected, including cereal, sausage, bread and beer. Organic food advocates have fought to block approval of some or all of the proposed ingredients, saying consumers would be misled. "This proposal is blatant catering to powerful industry players who want the benefits of labeling their products 'USDA organic' without doing the work to source organic materials," said Ronnie Cummins, executive director of the Organic Consumers Assn. of Finland, Minn., a nonprofit group that boasts 850,000 members. With big companies entering what was formerly a mom-and-pop industry, new questions have arisen about what exactly goes into organic food. Many nonorganic ingredients, including hops, are already being used in organic products, thanks to a USDA interpretation of the Organic Foods Protection Act of 1990. In addition to hops, the list includes 19 food colorings, two starches, casings for sausages and hot dogs, fish oil, chipotle chili pepper, gelatin and a host of obscure ingredients (one, for instance, is a "bulking agent" and sweetener with the tongue-twisting name of fructooligosaccharides). Under the agency's proposal, as much as 5% of a food product could be made with these ingredients and still get the "USDA organic" seal.
NHS sues drug firms 'for #100m'
2004-06-23, BBC News
http://news.bbc.co.uk/1/hi/health/3832291.stm
The NHS is seeking at least £100m compensation from two drug companies who it alleges "fixed" the price of an ulcer drug in the late 1990s. The allegations relate to the sale and supply of ranitidine between 1997 and 2000. The NHS's Counter Fraud Service [CFS]...is currently investigating similar concerns in regard to around 30 other drugs. As in any case where a drug comes off patent, the NHS expected its price to fall, but this did not happen with ranitidine. The investigation into why this failed to happen has led to the High Court action against Generics, a subsidiary of the German pharmaceutical company Merck, and the British arm of the Indian company Ranbaxy. The CFS estimates that the NHS could have lost out on at least £100m, and possibly as much as £110m. It has already said it will sue seven companies over the sale of common medicines including warfarin and penicillin-based drugs.
Shooting the messenger: Report on layoffs killed
2003-01-03, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2003/01/03/MN120712.DTL
The Bush administration ... has quietly killed off a Labor Department program that tracked mass layoffs by U.S. companies. The statistic ... comprised an easy-to-understand overview of which industries are in the greatest distress and which workers are bearing the brunt of the turmoil. Sharon Brown oversaw compilation of the mass-layoffs number at the Bureau of Labor Statistics in Washington. "This was a high-quality program, producing timely information on important developments in the labor market," Brown said. The $6.6 million in annual funding for the mass-layoffs program ... was channeled through the Labor Department's Employment and Training Administration. When that agency decided it needed more cash ... the Bureau of Labor Statistics was told to look elsewhere for its budget needs. Apparently no extra money was to be found anywhere within the Labor Department, which had a total budget of $44.4 billion last year, up from $39.2 billion in 2001. The same conclusion was reached in 1992 when the first President Bush canceled the Mass-Layoffs Statistics program. Now Bush the younger is following in his father's footsteps, once again deciding that the American people have no real need to know how many mass layoffs are made each month.
Suits Say U.S. Impeded Audits for Oil Leases
2006-09-21, New York Times
http://www.nytimes.com/2006/09/21/business/21royalty.html?ex=1316491200&en=3f...
Four government auditors who monitor leases for oil and gas on federal property say the Interior Department suppressed their efforts to recover millions of dollars from companies they said were cheating the government. The auditors contend that they were blocked by their bosses from pursuing more than $30 million in fraudulent underpayments of royalties for oil produced in publicly owned waters in the Gulf of Mexico. "The agency has lost its sense of mission, which is to protect American taxpayers," said Bobby L. Maxwell, who was formerly in charge of Gulf of Mexico auditing. "These are assets that belong to the American public, and they are supposed to be used for things like education, public infrastructure and roadways." The lawsuits have surfaced as Democrats and Republicans alike are questioning the Bush administration's willingness to challenge the oil and gas industry. The new accusations surfaced just one week after the Interior Department's inspector general, Earl E. Devaney, told a House subcommittee that "short of crime, anything goes" at the top levels of the Interior Department. In another clash, frustrated federal auditors have complained that the Interior Department no longer allows them to subpoena documents from oil companies. Agency officials acknowledged that they have not issued any subpoenas in the last three years.
Citizens 1, Corporations 0
2006-06-07, Yahoo! News/The Nation (partisan source)
http://news.yahoo.com/s/thenation/20060607/cm_thenation/189125
In Northern California's Humboldt County, voters decided by a 55-45 margin that corporations do not have the same rights...as citizens when it comes to participating in local political campaigns. Until Tuesday in Humboldt County, corporations were able to claim citizenship rights, as they do elsewhere in the United States. With the passage of Measure T...voters have signaled that they want out-of-town corporations barred from meddling in local elections. The "Yes on T" campaign was rooted in regard for the American experiment, from...references to Tuesday's election as a modern-day "Boston Tea Party," to the quote from Thomas Jefferson: "I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government." Just as Jefferson and his contemporaries were angered by dominance of the affairs of the American colonies by King George III and the British business combines...so Humboldt County residents were angered by the attempts of outside corporate interests to dominate local politics. Humboldt County residents...put Measure T on the ballot, declaring, "Our Founding Fathers never intended corporations to have this kind of power." Let us hope that the spirit of '76 prevailed Tuesday in Humboldt County will spread until that day when American democracy is guided by the will of the people rather than the campaign contribution checks of the corporations that are the rampaging "empires" of our age.
Free trade leaves world food in grip of global giants
2005-01-27, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/globalisation/story/0,7369,1399480,00.html
Global food companies are aggravating poverty in developing countries by dominating markets, buying up seed firms and forcing down prices for staple goods including tea, coffee, milk, bananas and wheat, according to a report to be launched today. Two companies dominate sales of half the world's bananas, three trade 85% of the world's tea, and one, Wal-mart, now controls 40% of Mexico's retail food sector. It also found that Monsanto controls 91% of the global GM seed market.
Americans Skeptical About Gas Price Drop
2006-09-25, CBS News/Associated Press
http://www.cbsnews.com/stories/2006/09/25/ap/business/mainD8KC5MEO0.shtml
Almost half of all Americans believe the November elections have more influence than market forces. For them, the plunge at the pump is about politics, not economics. According to a new Gallup poll, 42 percent of respondents agreed with the statement that the Bush administration "deliberately manipulated the price of gasoline so that it would decrease before this fall's elections." Fifty-three percent of those surveyed did not believe in this conspiracy theory, while 5 percent said they had no opinion. The excitement—and suspicion—among U.S. motorists follows a post-summer decline in gasoline prices that even veteran analysts and gas station owners concede has been steeper than usual. The retail price of gasoline has plunged by 50 cents, or 17 percent, over the past month to average $2.38 a gallon nationwide, according to Energy Department statistics. That is 42.5 cents lower than a year ago, when the energy industry was still reeling from the aftermath of hurricanes Katrina and Rita, which damaged petroleum platforms, pipelines and refineries across the Gulf Coast. Fimat USA oil analyst Antoine Halff said there is no doubt that "the downturn in prices is welcome news from an electoral standpoint for the ruling party." But he scoffed at the notion that the U.S. president had the power to muscle around a global market.
Key Corporate Corruption News Articles in Major Media