Corporate Corruption News Stories
Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.
Patients who suffered brain damage as a result of taking a swine flu vaccine are to receive multi-million-pound payouts from the UK government. Following the swine flu outbreak of 2009, about 60 million people, most of them children, received the vaccine. It was subsequently revealed that the vaccine, Pandemrix, can cause narcolepsy and cataplexy in about one in 16,000 people, and many more are expected to come forward with the symptoms. Across Europe, more than 800 children are so far known to have been made ill by the vaccine. The Pandemrix vaccine was manufactured by pharmaceuticals giant Glaxo Smith Kline, which refused to supply governments unless it was indemnified against any claim for damage caused. "There's no doubt in my mind whatsoever that Pandemrix increased the occurrence of narcolepsy onset in children," Emmanuelle Mignot, a specialist in sleep disorder at Stanford University in the United States told Reuters. Among those affected are NHS medical staff, many of whom are now unable to do their jobs because of the symptoms brought on by the vaccine. They will be suing the government for millions in lost earnings. However, the vast majority of patients affected - around 80% - are children. Despite a 2011 warning from the European Medicines Agency against using the vaccine on those under 20 and a study indicating a 13-fold heightened risk of narcolepsy in vaccinated children, GSK has refused to acknowledge a link.
Note: Read about people in other countries who were damaged by the vaccine on this webpage. See powerful media reports suggesting that both the avian flu and swine flu were manipulated to promote fear and boost pharmaceutical sales. And watch a powerful CBS video describing how 4,000 Americans in 1976 sued for neurological damages caused by a swine flu vaccine that they agreed to take after falling for fear mongering about the flu by the government. 300 people allegedly died from the vaccine. For more, see the excellent resources in our Health Information Center.
L.A. County health officials investigate and confirm an infection outbreak inside one of the county's hospitals once or twice a month. The public rarely finds out which hospital is involved, how many patients were stricken or whether any died. The secrecy surrounding hospital outbreaks runs counter to the push toward more public disclosure in healthcare. In recent years, consumers have benefited from data comparing some health outcomes by hospital, the fees hospitals charge for various procedures and the payments doctors receive from drug and device manufacturers. Keeping outbreaks confidential is a common practice of federal, state and local health investigators across the country. The rationale: It encourages hospitals to be open and quickly report suspected surges of infections. The secrecy can prevent hospitals from learning from one another's mistakes. More than six years ago, a lethal bacteria struck two hospitals in Florida, killing 15 patients. The case was nearly identical to the recent outbreaks at UCLA and Cedars-Sinai medical centers. In each case, a hard-to-clean medical scope transferred the same superbug from patient to patient. Since that 2008 Florida outbreak, investigators have tied the same scopes to scores of patient infections in other states. Most of the outbreaks were not disclosed until months or years later, often only when doctors wrote about them in medical journals.
Note: For more along these lines, see concise summaries of deeply revealing news articles about healthcare cover-ups from reliable major media sources.
In May this year, a huge company listed on the London Stock Exchange found itself in the midst of controversy about a prison it runs for the government Thameside, a newly built jail ... in south-east London. Two months later, the same company was the subject of a high- profile report published by the House Of Commons. Again, the verdict was damning: data had been falsified, national standards had not been met, there was a culture of "lying and cheating", and the service offered to the public was simply "not good enough". Three weeks ago, there came grimmer news. The company ... was one of two contractors that had somehow overcharged the government for its services, possibly by as much as 50m; The firm that links these three stories together is Serco. Its range of activities, here and abroad, is truly mind-boggling. As a private firm it's not open to Freedom of Information requests, so looking into the details of what it does is fraught with difficulty. But the basic facts are plain enough. As well as five British prisons and the tags attached to over 8,000 English and Welsh offenders, Serco sees to two immigration removal centres. You'll also see its logo on the Docklands Light Railway and Woolwich ferry. But even this is only a fraction of the story. Serco is responsible for air traffic control in the United Arab Emirates, parking-meter services in Chicago, driving tests in Ontario, and an immigration detention centre on Christmas Island.
Note: Serco is possibly the largest company you've never heard of. Did you know that the Obama administration awarded Serco a $1.25 billion contract to help implement online health insurance exchanges under Obamacare, as reported in this Reuters article? Watch this video to see just how powerful and pervasive they are.
Weeks before Pacific Gas and Electric Co. released a long-awaited seismic report about the Diablo Canyon nuclear plant last year, Nuclear Regulatory Commission officials had already drafted talking points declaring the plant safe from earthquakes, Sen. Barbara Boxer said Wednesday. An internal commission memo showed that the agency was planning to tell the public that the NRC had reviewed the report, and it had concluded Diablo Canyon was seismically safe before even seeing the report. Boxer ... used it to illustrate what she called the commissions lax attitude toward seismic safety, even in the wake of the 2011 meltdown of three reactors at Japans Fukushima Daiichi power plant. Her comments shone new light on a controversy that has simmered since the seismic safety reports release last fall. PG&E released the report on Sept. 10. That same day, the commission the federal agency that regulates nuclear plants formally rejected complaints from one of its own former inspectors at Diablo Canyon, who had argued that the plant should be closed. Several newly discovered faults nearby, he said, could produce more violent shaking than Diablo was designed to withstand. Environmental groups ... accused the commission and PG&E of colluding to release both the report and the rejection of the inspectors complaint on the same day, generating positive press about Diablos safety.
Note: Why would Nuclear Regulatory Commission officials ignore their responsibility to protect the public from the potentially disastrous combination of earthquakes and nuclear power plants?
Earlier this month, the World Health Organizations International Agency for Research on Cancer announced findings that glyphosate, the main ingredient in Monsantos RoundUp line of pesticides, is probably carcinogenic to humans. The research, published in The Lancet Oncology, relies on studies conducted on the chemical over the last few decades. Use of glyphosate which the EPA has deemed safe has soared in the last two decades with the introduction of crops genetically engineered to withstand the herbicide. Glyphosate is also a main ingredient in a new product called Enlist Duo recently introduced by Dow Chemical. Widespread use of the chemical has also come under fire because weeds are becoming increasingly resistant to it. Dow has marketed its new product ... as a new tool for farmers battling herbicide-resistant weeds. But agriculture experts say farmers should look at other ways to manage weeds, like cover-cropping, increased rotation and mechanical removal. This week, environmental groups sent a letter to the EPA renewing their calls for the agency to reconsider its decision to approve Enlist Duo. The groups also called on the EPA to reexamine its findings that glyphosate is safe. Monsanto has come out swinging. In a press release, Chief Technology Officer Dr. Robb Fraley said the company is outraged. Monsanto has demanded a retraction of the report.
Note: The negative health impacts of Monsanto's RoundUp are well known, while the risks and dangers of genetically engineering crops to tolerate such chemicals are becoming increasingly clear.
Not long ago I was asked to speak to a religious congregation about widening inequality. Shortly before I began, the head of the congregation asked that I not advocate raising taxes on the wealthy. I had a similar exchange last year with the president of a small college who had invited me to give a lecture that his board of trustees would be attending. Id appreciate it if you didnt criticize Wall Street, he said. It seems to be happening all over. A nonprofit group devoted to voting rights decides it wont launch a campaign against big money in politics for fear of alienating wealthy donors. A Washington think tank releases a study on inequality that fails to mention the role big corporations and Wall Street have played ... presumably because the think tank doesnt want to antagonize its corporate and Wall Street donors. A major university shapes research and courses around economic topics of interest to its biggest donors, notably avoiding any mention of the increasing power of large corporations and Wall Street on the economy. Its bad enough that big money is buying off politicians. Its also buying off nonprofits that used to be sources of investigation, information and social change, from criticizing big money. Our democracy is directly threatened when the rich buy off politicians. But no less dangerous is the quieter and more insidious buy-off of institutions democracy depends on to research, investigate, expose and mobilize action against what is occurring.
Note: The above article was written by former U.S. Secretary of Labor and UC Berkeley professor Robert Reich. For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
Many Oklahomans can still vividly recall the day they experienced their first earthquake. Ever since 2009/2010, earthquakes in the state have increased exponentially leading to what are called seismic swarms. In 2000 there was not a single earthquake, but in 2014 we experienced 585 quakes of magnitude three or larger. For some time now, scientists have wondered whether fracking-related activities, such as wastewater injection, might be the source of increased seismic activity in Oklahoma. In May of last year, the Oklahoma Geological Survey, an affiliate entity of the University of Oklahoma, released a statement in conjunction with the United States Geological Survey, saying that wastewater injection was a likely contributing factor the increase in earthquakes. Not long after this statement, David Boren, president of the university, summoned the Oklahoma Geological Surveys lead seismologist Austin Holland, who was also one of the authors of the statement, to a meeting with Harold Hamm, CEO of ... one of Oklahomas largest oil and gas exploration and production companies. Boren facilitated the meeting despite the fact that he also serves as a member of the Continental Resources board of directors. In July 2014, Continental Resources released a presentation positing an alternative theory for the seismic swarms and downplaying the influence of induced seismicity. One can only imagine the pressure this meeting must have brought upon Holland and his team of scientists.
Note: Jason W Murphey, an Oklahoma State Representative, wrote the above. For more on this, read this informative New York Times article titled "As Quakes Rattle Oklahoma, Fingers Point to Oil and Gas Industry." For more along these lines, see concise summaries of deeply revealing news articles about corruption in science.
Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest. Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street. Citigroup has decided to withhold donations for now to the Democratic Senatorial Campaign Committee over concerns that Senate Democrats could give Warren and lawmakers who share her views more power, sources inside the bank told Reuters. The Massachusetts senator's economic populism and take-no-prisoners approach has won her a strong following. Warren, a former Harvard Law professor who joined the Senate Banking Committee after taking office in 2013, has accused big banks and other financial firms of unfair dealings that harm the middle class and help the rich grow richer. In a Dec. 12 speech, she mentioned Citi several times as an example of a bank that had grown too large, saying it should have been broken apart by the Dodd-Frank financial reform law. In January, Warren angered Wall Street when she successfully blocked the nomination of a banker Antonio Weiss to a top post at the Treasury Department. She argued that as a regulator he would likely be too deferential to his former Wall Street colleagues.
Note: Read Sen. Warren's response in this Boston Globe article. For more along these lines, see concise summaries of deeply revealing news articles about the systemically corrupt banking industry.
In a war full of failures, the US counternarcotics mission in Afghanistan stands out: opiate production has climbed steadily over recent years to reach record-high levels last year. One clear winner in the anti-drug effort is ... the infamous mercenary company formerly known as Blackwater. Statistics released on Tuesday reveal that the rebranded private security firm, known since 2011 as Academi, reaped over a quarter billion dollars from the futile Defense Department push to eradicate Afghan narcotics, some 21% of the $1.5 bn in contracting money the Pentagon has devoted to the job since 2002. The company is the second biggest beneficiary of counternarcotics largesse in Afghanistan. Only the defense giant Northrop Grumman edged it out, with $325m. According to the US inspector general for Afghanistan reconstruction, the $309m Academi got from US taxpayers paid for training, equipment, and logistical support to Afghan forces conducting counternarcotics. Far from eradicating the deep-rooted opiate trade, US counternarcotics efforts have ... contributed to the opium boom. In December, the United Nations reported a 60% growth in Afghan land used for opium poppy cultivation since 2011, up to 209,000 hectares. The estimated $3bn value of Afghan heroin and morphine represents some 15% of Afghan GDP. Academi and its former Blackwater incarnation have an infamous history in Afghanistan. It once set up shell companies to disguise its business practices, according to a Senate report, so that its contracts would be unimpeded by company employees killings of Iraqi and Afghan civilians.
Note: Blackwater, now called Academi, got caught systematically defrauding the US government, while serving as a "virtual extension of the CIA". The CIA has been linked to the Afghan heroin trade for decades. In 2000, the Taliban had all but eradicated Afghan opium production. Once Afghanistan was under US control, opium production surged to record levels.
A senior HSBC executive has privately admitted that the bank is cast-iron certain to have another major regulatory breach in the future. Global head of sanctions Lee Hale ... was meeting with independent lawyers monitoring HSBC as part of a controversial 2012 deal with the US Department of Justice, in which the bank avoided prosecution over sanctions-busting and money-laundering in its Mexican branch in exchange for paying a $1.9bn fine and receiving additional regulatory scrutiny for a period of five years. The deferred prosecution agreement was signed by the then US attorney for the eastern district of New York, Loretta Lynch. During a long exchange about HSBCs new policy on sanctions and internal breaches of company rules, Hale told the regulator that given the size and scale of HSBC, in his view it is a cast-iron certain[ty] this will happen, at some point in the future were going to have some big breach, some regulatory breach. He added: I hope it doesnt happen, but it is likely. The recorded monitor discussions also touched on problems in the banks US compliance team. Hale said: The internal audit team have done a US review and its not great in terms of what theyve found. The findings, according to Hale, prompted the bank to terminate the employment of one of the banks senior compliance executives in New York, a former sanctions official at the US Treasury. In 2012, a US Senate report noted that a high turnover of compliance staff at the banks US subsidiary had made reforms difficult to implement.
Note: Read lots more on HSBC's sweetheart deal with U.S. officials in a Rolling Stone article by Matt Taibbi. Is it even possible to root out corruption in a bank founded to service the international drug trade? For more along these lines, see concise summaries of deeply revealing news articles about systemic corruption in government and the financial industry.
More than 750 plaintiffs are suing the Johns Hopkins Hospital System Corp. over its role in a series of medical experiments in Guatemala in the 1940s and 1950s during which subjects were infected with venereal diseases. The lawsuit in Baltimore seeks $1 billion in damages for individuals, spouses and children of people infected with syphilis, gonorrhea and other sexually transmitted diseases through a U.S. government program between 1945 and 1956. The suit claims Johns Hopkins officials had "substantial influence" over the studies, controlling some advisory panels, and were involved in planning and authorizing the experiments. A Hopkins spokesperson ... confirmed that faculty members took part in reviewing funding applications, but said this did not warrant a lawsuit against the medical center. The statement expressed "profound sympathy for individuals and families impacted by the deplorable 1940s syphilis study conducted by the U.S. Government in Guatemala," and noted that the ethical standards for conducting medical research have changed significantly in the decades since then. It's the latest in a series of lawsuits over the studies. A federal judge in 2012 dismissed a lawsuit against the U.S. government involving the same study.
Note: Explore an excellent list of dozens of studies over the years in which humans were used unknowingly as guinea pigs in clear breach of ethical standards. Links are provided for verification of each study. For more along these lines, see concise summaries of deeply revealing news articles about corruption in the medical industry and in government.
Change.org is a B Corporation a for-profit company committed to social or environmental goals in addition to its financial obligations. Because the San Francisco firm tries to benefit not just its shareholders, but also society, Change.org is an especially appealing place to work for civic-minded job-seekers, said David Hanrahan, head of global human resources. Hanrahan has an eye toward recruiting Millennials. B (for beneficial) Corporations are the creation of B Lab, a Pennsylvania nonprofit that awards the certification to companies that meet its standards of social and environmental performance, accountability, and transparency. A 2014 Brookings Institution report, How Millennials Could Upend Wall Street and Corporate America, found that the desire on the part of Millennials for their daily work to reflect and be a part of their societal concerns will make it impossible for corporate chieftains to motivate Millennial employees simply by extolling profits. In 2012 ... California [became] the 28th state to provide a legal structure allowing companies to become certified B Corps. Since then, such firms have flocked to the Bay Area. The region is home to the highest concentration of certified B Corps on the planet. The certification process is a way to tell the difference between good companies and good marketing, [consultant Ryan] Honeyman wrote in his book, "The B Corp Handbook: How to Use Business as a Force for Good." Many companies want to do good, but they dont know how to do it, said Honeyman. The B Corp certification process gives them the tools to do so.
Note: For more along these lines, see this article about B Corps and "stakeholder capitalism" as a solution to the problem of growing income inequality.
The issues surrounding G.M.O.s - genetically modified organisms - became more complicated last week when the International Agency for Research on Cancer declared that glyphosate, the active ingredient in the widely used herbicide Roundup, probably causes cancer in humans. Two insecticides, malathion and diazinon, were also classified as "probable" carcinogens by the agency, a respected arm of the World Health Organization. Roundup, made by Monsanto for both home and commercial use, is crucial in the production of genetically engineered corn and soybean crops, so it was notable that the verdict on its dangers came nearly simultaneously with an announcement by the Food and Drug Administration that new breeds of genetically engineered potato and apple are safe to eat. Few people are surprised that an herbicide in widespread use is probably toxic at high doses or with prolonged exposure, circumstances that may be common among farmers and farmworkers. Nor is it surprising that it took so long - Roundup has been used since the 1970s - to discover its likely carcinogenic properties. There is a sad history of us acting as guinea pigs for the novel chemicals that industry develops. To date, G.M.O.s and other forms of biotech have done nothing but enrich their manufacturers and promote a system of agriculture that's neither sustainable nor for the most part beneficial. We don't need better, smarter chemicals along with crops that can tolerate them; we need fewer chemicals. There's no reason to put the general population, and particularly the farming population, at risk for the sake of industry profits.
Note: Monsanto's Roundup and the GMO crops that support its use are well-known by scientists to be a threat to public health. For more, see concise summaries of deeply revealing news articles on GMO risks and how these are covered up.
For decades, Monsanto and its enablers inside the USDA have denied the central tenets of evolutionary biology, namely natural selection and adaptation. Since the early 1980s, Monsanto has endlessly hyped genetically engineered (GE) crops they claim could reduce hunger, reduce pesticide use, and survive droughts. In reality, no such "miracle" crops exist. No significantly greater yielding crops, no more effective drought resistance crops. And ... around 85 percent of all genetically engineered crops in the United States and around the world have been engineered to withstand massive doses of herbicides, mostly Monsanto's Roundup. Each year 115 million more pounds of Roundup are spread on our farmlands because of these altered crops. Wouldn't that massive increase in Roundup use over that huge a portion of our cropland cause some weed populations to develop resistance? Of course. As a result, in less than 20 years, more than half of all U.S. farms have some Roundup resistant "superweeds," weeds that now infest 70 million acres of U.S farmland. A science-based, and safer, way forward is to ... use ecologically based weed control. There are proven organic and agroecological approaches that emphasize weed management rather than weed eradication, soil building rather than soil supplementing. Crop rotation and cover crops can return productive yields without ridding the land of genetic biodiversity, and could reduce herbicide use by 90 percent. So it's long past due that our government required real and rigorous science when regulating GE crops.
Note: Read more about how GMO technology has backfired, producing new "superweeds" and "superbugs" that threaten crop production. For more, see concise summaries of deeply revealing news articles on GMO risks and how these are covered up.
An ambitious 12-nation trade accord pushed by President Obama would allow foreign corporations to sue the United States government for actions that undermine their investment "expectations" and hurt their business, according to a classified document. The Trans-Pacific Partnership - a cornerstone of Mr. Obama's remaining economic agenda - would grant broad powers to multinational companies operating in North America, South America and Asia. Under the accord ... companies and investors would be empowered to challenge regulations, rules, government actions and court rulings ... before tribunals organized under the World Bank or the United Nations. The chapter in the draft of the trade deal, dated Jan. 20, 2015, [was] obtained by The New York Times in collaboration with the group WikiLeaks. [Its] cover mandates that the chapter not be declassified until four years after the Trans-Pacific Partnership comes into force or trade negotiations end, should the agreement fail. Under the terms of ... chapter, foreign investors could demand cash compensation if member nations "expropriate or nationalize a covered investment either directly or indirectly." Opponents fear "indirect expropriation" will be interpreted broadly, especially by deep-pocketed multinational companies opposing regulatory or legal changes that diminish the value of their investments. In 2013, Eli Lilly took advantage of a similar provision under Nafta to sue Canada for $500 million, accusing Ottawa of violating its obligations to foreign investors by allowing its courts to invalidate patents for two of its drugs.
Note: The above article further clarifies why the TPP is a pending disaster. For more, see this article, or watch the two minute video Former US Secretary of Labor Robert Reich made to educate the public about the dangers of the TPP.
"God's Bankers" provides an exhaustive history of financial machinations at the center of the church in Rome. The final unification of Italy in 1870 ... deprived the church of its lands and feudal income, leading to several decades of acute financial insecurity. Popes of this period ... publicly denounced lending money at interest (usury) while at the same time accepting massive loans from the Rothschilds and making their own interest-bearing loans to Italian Catholics. Beginning with Bernardino Nogara, appointed by Pius XI in 1929, the church also empowered a series of often shady financial advisers to engage in financial wheeling and dealing around the globe. "So long as the balance sheets showed surpluses," [author of God's Bankers Gerald] Posner writes, "Pius and his chief advisers were pleased." That pattern would continue through the rest of the 20th century. The American archbishop Paul Marcinkus, [who] ran the Vatican Bank from 1971 to 1989 ... ended up implicated in several sensational scandals. The biggest by far was the collapse of Italy's largest private bank, Banco Ambrosiano, in 1982 - an event preceded by mob hits on a string of investigators looking into corruption in the Italian banking industry. Marcinkus ... also served as a spy for the State Department, providing the American government with "personal details" about John Paul II, and even encouraging the pope "at the behest of embassy officials" to publicly endorse American positions on a broad range of political issues.
Note: The Vatican Bank was implicated in a scheme to smuggle tens of millions of euros out of Switzerland in 2013, and was used to launder money for the mafia as recently as 2012. For more along these lines, see concise summaries of deeply revealing financial industry corruption news articles from reliable major media sources.
Three years ago, the nations top utility executives gathered at a Colorado resort to hear warnings about ... rooftop solar panels. According to a presentation prepared for the group, Industry must prepare an action plan to address the challenges. Three years later, the industry and its fossil-fuel supporters are waging a determined campaign to stop a home-solar insurgency that is rattling the boardrooms of the countrys government-regulated electric monopolies. Recently, the battle has shifted to public utility commissions, where industry backers have mounted a ... successful push for fee hikes that could put solar panels out of reach for many potential customers. In a closely watched case last month, an Arizona utility voted to impose a monthly surcharge of about $50 for net metering, a common practice that allows solar customers to earn credit for the surplus electricity they provide to the electric grid. Net metering makes home solar affordable by sharply lowering electric bills to offset the $10,000 to $30,000 cost of rooftop panels. A Wisconsin utilities commission approved a similar surcharge for solar users last year, and a New Mexico regulator also is considering raising fees. In some states, industry officials [are now] arguing that solar panels hurt the poor. Its really about utilities fear that solar customers are taking away demand, said Angela Navarro, an energy expert with the Southern Environmental Law Center.
Note: In Arizona, traditional utility companies are brazenly manipulating the law to attack solar power installation companies. Meanwhile, the Rockefellers have stopped investing in fossil fuels. Does this mean that the renewable energy revolution is now in full swing?
The powerful U.S. sugar industry skewed the government's medical research on dental care. Sugar industry leaders advocated for policies that did not recommend people eat less sugar. The government listened, according to a new report published in the journal PLOS Medicine. In the 1960s, amid a national effort to boost cavity prevention, the U.S. government spearheaded a research program, known as the National Caries Program (NCP), which aimed to eradicate tooth decay. But instead of turning to an obvious solution having people eat less sugar the government was swayed by industry interests that pushed alternative methods, such as [using] vaccines for fighting tooth decay. [The] committee that was set up by the government to set research priorities for the NCP included many doctors and scientists who were also ... part of another group called the International Sugar Research Foundation, which was established by the sugar industry. Rather than recommending that people reduce sugar intake, government-funded research focused on interventions that wouldn't advise Americans to lower their sweets consumption. For instance, the research encouraged the wider use of fluoride. More recently, the industry attempted to influence the ongoing debate about changes to the Food and Drug Administration's nutrition facts label. One of the key changes currently being mulled is the inclusion of an "added sugar" label, which is meant to communicate how much of any given food's sugar content was added during processing. The industry is vehemently opposed.
Note: "When you take on Big Sugar, you take on a huge political money operation," Rep. Mark Steven Kirk from Illinois said while fighting Big Sugar back in 2007. For more along these lines, see concise summaries of deeply revealing health corruption news articles from reliable major media sources.
Lower IQ, adult obesity and 5% of autism cases are all linked to exposure to endocrine disruptors found in food containers, plastics, furniture, toys, carpeting and cosmetics, says new expert study. Europe is experiencing an explosion in health costs caused by endocrine-disrupting chemicals (EDCs) that is comparable to the cost of lead and mercury poisoning, according to the most comprehensive study of the subject yet published. Endocrine disruptors are chemicals that interfere with the human hormone system, and can be found in food containers, plastics, furniture, toys, carpeting and cosmetics. The new series of reports by 18 of the worlds foremost experts on endocrine science pegs the health costs of exposure to them at between 157bn-270bn (113bn-195bn), or at least 1.23% of the continents GDP. The shocking thing is that the major component of that cost is related to the loss of brain function in the next generation, one of the reports authors, Professor Philippe Grandjean of Harvard University, told the Guardian. After IQ loss, adult obesity linked to exposure to phthalates, a group of chemicals used in plastics, was the second largest part of the overall cost, with an estimated price tag of 15.6bn a year. The study attributes at least 5% of European autism cases to EDC exposure. These studies tell a frightening and expensive story equivalent to a 7,500 cost for every man, woman and child in the EU every year, said Genon Jensen, the director of the Health and Environment Alliance.
Note: Recently, a major report showing the dangers of many common pesticides was suppressed by EU officials. Federal regulators in the US claim to have no data on over 62,000 industrial chemicals that US consumers are exposed to.
Microsoft, Apple, Google and five other tech firms now account for more than a fifth of the $2.10 trillion in profits that U.S. companies are holding overseas, according to a Bloomberg News review of the securities filings of 304 corporations. The total amount held outside the U.S. by the companies was up 8 percent from the previous year. General Electric topped the list for the fifth straight year. The company now has $119 billion outside the U.S., an increase of 8 percent from the end of 2013 and a 27 percent gain since 2010. Microsoft has more than tripled its offshore holdings since 2010. Apple, which counts only part of its non- U.S. holdings as indefinitely held offshore, increased that portion to $69.7 billion from $12.3 billion in 2010. Cisco now has $52.7 billion outside the U.S., up 10 percent since 2013. John Chambers, Cisco's chief executive, said on Bloomberg TV on Feb. 20 that "our tax policy is causing me to make decisions that I don't think is in the interest of our country, or even in our shareholders, long term." The companies owe taxes at the full U.S. corporate tax rate of 35 percent on profits they earn around the world. They get tax credits for payments to foreign governments and don't have to pay the residual U.S. tax until they bring the money home. Obama earlier this year proposed applying a 14 percent mandatory tax on the stockpiled profits and a 19 percent minimum tax on foreign earnings going forward.
Note: U.S. laws now protect corporations as if they are people, but require human people to pay more income tax. For more along these lines, see concise summaries of deeply revealing news articles about corporate corruption.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
