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Corporate Corruption Media Articles
Excerpts of Key Corporate Corruption Media Articles in Major Media


Below are highly revealing excerpts of important corporate corruption articles reported in the media suggesting a major cover-up. Links are provided to the full articles on major media websites. If any link fails to function, read this webpage. These corporate corruption articles are listed by article date. You can also explore the articles listed by order of importance or by date posted. By choosing to educate ourselves on these important issues and to spread the word, we can and will build a brighter future.

Note: Explore our full index to revealing excerpts of key major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.


I Downloaded the Information That Facebook Has on Me. Yikes.
2018-04-11, New York Times
https://www.nytimes.com/2018/04/11/technology/personaltech/i-downloaded-the-i...

I downloaded a copy of my Facebook data last week. I didn’t expect to see much. But when I opened my file, it was like opening Pandora’s box. I learned that about 500 advertisers - many that I had never heard of, like Bad Dad, a motorcycle parts store, and Space Jesus, an electronica band - had my contact information, which could include my email address, phone number and full name. Facebook also had my entire phone book, including the number to ring my apartment buzzer. The social network had even kept a permanent record of the roughly 100 people I had deleted from my friends list over the last 14 years. Facebook said unfamiliar advertisers might appear [in the file] because they might have obtained my contact information from elsewhere, compiled it into a list of people they wanted to target and uploaded that list into Facebook. Brands can obtain your information [by] buying ... from a data provider like Acxiom, which has amassed one of the world’s largest commercial databases on consumers. Let’s be clear: Facebook is just the tip of the iceberg when it comes to what information tech companies have collected on me. Knowing this, I also downloaded copies of my Google data with a tool called Google Takeout. The data sets were exponentially larger than my Facebook data. Here was the biggest surprise: In a folder labeled Ads, Google kept a history of many news articles I had read. Be warned: Once you see the vast amount of data that has been collected about you, you won’t be able to unsee it.

Note: Those who want to download their own Facebook data can use this link. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.


'The Business of War': Google Employees Protest Work for the Pentagon
2018-04-04, New York Times
https://www.nytimes.com/2018/04/04/technology/google-letter-ceo-pentagon-proj...

Thousands of Google employees, including dozens of senior engineers, have signed a letter protesting the company’s involvement in a Pentagon program that uses artificial intelligence to interpret video imagery and could be used to improve the targeting of drone strikes. The letter, which is circulating inside Google and has garnered more than 3,100 signatures, reflects a culture clash ... that is likely to intensify as cutting-edge artificial intelligence is increasingly employed for military purposes. “We believe that Google should not be in the business of war,” says the letter, addressed to Sundar Pichai, the company’s chief executive. It asks that Google pull out of Project Maven, a Pentagon pilot program, and announce a policy that it will not “ever build warfare technology.” That kind of idealistic stance ... is distinctly foreign to Washington’s massive defense industry and certainly to the Pentagon, where the defense secretary, Jim Mattis, has often said a central goal is to increase the “lethality” of the United States military. Some of Google’s top executives have significant Pentagon connections. Eric Schmidt, former executive chairman of Google and still a member of the executive board of Alphabet, Google’s parent company, serves on a Pentagon advisory body, the Defense Innovation Board, as does a Google vice president, Milo Medin. Project Maven ... began last year as a pilot program to find ways to speed up the military application of the latest A.I. technology.

Note: The use of artificial intelligence technology for drone strike targeting is one of many ways warfare is being automated. Strong warnings against combining artificial intelligence with war have recently been issued by America's second-highest ranking military officer, tech mogul Elon Musk, and many of the world's most recognizable scientists. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.


Supreme Court shields a police officer from being sued for shooting a woman in her front yard
2018-04-02, Los Angeles Times
http://www.latimes.com/politics/la-na-pol-supreme-court-police-shooting-20180...

The Supreme Court on Monday shielded a police officer from being sued for shooting an Arizona woman in her front yard, once again making it harder to bring legal action against officers who use excessive force, even against an innocent person. With two dissents, the high court tossed out a lawsuit by a Tucson woman who was shot four times outside her home because she was seen carrying a large knife. Justices Sonia Sotomayor and Ruth Bader Ginsburg said in dissent the victim did not threaten the police or a friend who was standing nearby. This "decision is not just wrong on the law; it also sends an alarming signal to law enforcement officers and the public," Sotomayor wrote. Since the Civil War, federal law has allowed people to sue government officials, including the police, for violating their constitutional rights. But in recent years, the Supreme Court has erected a shield of immunity for police and said officers may not be sued unless victims can point to a nearly identical shooting that had been deemed unconstitutionally excessive in a previous decision. The justices did not rule on whether officer Andrew Kisela acted reasonably when he used potentially deadly force against Amy Hughes. The court instead ruled [that Kisela] could not be sued because the victim could not cite a similar case. Sotomayor said the majority had revised the facts to favor the officer. "Hughes was nowhere near the officers, had committed no illegal act, was suspected of no crime, and did not raise the knife," she wrote.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in policing and in the court system.


Are you ready? This is all the data Facebook and Google have on you
2018-03-29, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/commentisfree/2018/mar/28/all-the-data-facebook-g...

[Here's] how much of your information ... Facebook and Google store about you. Google stores your location ... every time you turn on your phone. You can see a timeline of where you’ve been from the very first day you started using Google on your phone. Google stores search history across all your devices. Even if you delete your search history and phone history on one device, it may still have data saved from other devices. Google creates an advertisement profile based on your information, including your location, gender, age, hobbies, career, interests, relationship status, possible weight ... and income. Google offers an option to download all of the data it stores about you. I’ve requested to download it and the file is 5.5GB big, which is roughly 3m Word documents. Facebook offers a similar option to download all your information. Mine was roughly 600MB, which is roughly 400,000 Word documents. Facebook also stores what it thinks you might be interested in based off the things you’ve liked and what you and your friends talk about. The data they collect includes tracking where you are, what applications you have installed, when you use them, what you use them for, access to your webcam and microphone at any time, your contacts, your emails, your calendar, your call history, the messages you send and receive, the files you download, the games you play, your photos and videos, your music, your search history, your browsing history, even what radio stations you listen to.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.


When the media tries too hard to 'appeal to both sides', integrity is lost
2018-03-24, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/world/2018/mar/24/when-the-media-tries-too-hard-t...

Trump-era media really is something else. Otherwise smart and interesting publications are working so hard to “appeal to both sides” that they’ve completely abandoned their integrity in the process. Take the Atlantic, who announced a new roster of high-profile columnists this week, including Kevin D Williamson – a writer who compared a nine-year-old black child to a primate, and who argued that women that have abortions – along with their doctors and nurses – should be executed by hanging. When I asked the Atlantic for comment, a spokesperson responded that the magazine has “a large number of contributors who represent a broad spectrum of views”. She wrote that while “diverse viewpoints” are core to the magazine’s mission, they have “strict standards for how these viewpoints are expressed in our pages”. In other words, the Atlantic doesn’t mind employing a marquee columnist who thinks women should be hanged for having abortions so long as he doesn’t say as much in the magazine. But believing America should execute women in genocidal numbers (one in four women in this country will have an abortion) is not a “diverse viewpoint” – and the fact that one of the nation’s leading political magazines could defend it as such indicates a serious moral crisis in mainstream media.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the manipulation of public perception.


'Dirty meat': Shocking hygiene failings discovered in US pig and chicken plants
2018-03-21, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/animals-farmed/2018/feb/21/dirty-meat-shocking-hy...

Shocking hygiene failings have been discovered in some of the US’s biggest meat plants, as a new analysis reveals that as many as 15% (one in seven) of the US population suffers from foodborne illnesses annually. A joint investigation by the Bureau of Investigative Journalism (TBIJ) and the Guardian found that hygiene incidents are at numbers that experts described as “deeply worrying”. US campaigners are calling once again for the closure of a legal loophole that allows meat with salmonella to be sold in the human supply chain, and also warn about the industry’s push to speed up production in the country’s meat plants. Unpublished US- government records highlight numerous specific incidents including: Diseased poultry meat that had been condemned found in containers used to hold edible food products; Pig carcasses piling up on the factory floor after an equipment breakdown, leading to contamination with grease, blood and other filth; Meat destined for the human food chain found riddled with faecal matter and abscesses filled with pus; High-power hoses being used to clean dirty floors next to working production lines containing food products; Factory floors flooded with dirty water after drains became blocked by meat parts and other debris; Dirty chicken, soiled with faeces or having been dropped on the floor, being put back on to the production line after being rinsed with dilute chlorine.

Note: Read more on the unsafe and unethical high speed slaughterhouses on track for USDA approval. For more along these lines, see concise summaries of deeply revealing food system corruption news articles from reliable major media sources.


'Catastrophe' as France's bird population collapses due to pesticides
2018-03-20, The Guardian/AFP
https://www.theguardian.com/world/2018/mar/21/catastrophe-as-frances-bird-pop...

Bird populations across the French countryside have fallen by a third over the last decade and a half, researchers have said. Dozens of species have seen their numbers decline, in some cases by two-thirds, the scientists said in a pair of studies – one national in scope and the other covering a large agricultural region in central France. “The situation is catastrophic,” said Benoit Fontaine, a conservation biologist at France’s National Museum of Natural History and co-author of one of the studies. A migratory song bird, the meadow pipit, has declined by nearly 70%. The museum described the pace and extent of the wipe-out as “a level approaching an ecological catastrophe”. The primary culprit, researchers speculate, is the intensive use of pesticides on vast tracts of monoculture crops, especially wheat and corn. The problem is not that birds are being poisoned, but that the insects on which they depend for food have disappeared. Recent research ... has uncovered similar trends across Europe. Flying insects have declined by 80%, and bird populations has dropped by more than 400m in 30 years. Despite a government plan to cut pesticide use in half by 2020, sales in France have climbed steadily, reaching more than 75,000 tonnes of active ingredient in 2014, according to European Union figures. “What is really alarming, is that all the birds in an agricultural setting are declining at the same speed, even ’generalist’ birds,” which also thrive in other settings such as wooded areas, said [ecologist Vincent] Bretagnolle.

Note: A United Nations report recently noted that pesticides have produced “catastrophic impacts on the environment, human health and society as a whole”, and condemned the pesticide industry for aggressively promoting lies about the usefulness of their products. For more along these lines, see concise summaries of deeply revealing food system corruption news articles from reliable major media sources.


Cambridge Analytica, Trump-Tied Political Firm, Offered to Entrap Politicians
2018-03-19, New York Times
https://www.nytimes.com/2018/03/19/us/cambridge-analytica-alexander-nix.html

Sitting in a hotel bar, Alexander Nix, who runs the political data firm Cambridge Analytica, had a few ideas for a prospective client looking for help in a foreign election. The firm could send an attractive woman to seduce a rival candidate and secretly videotape the encounter, Mr. Nix said, or send someone posing as a wealthy land developer to pass a bribe. “We have a long history of working behind the scenes,” Mr. Nix said. The prospective client, though, was actually a reporter. The encounter was secretly filmed as part of a monthslong investigation into Cambridge Analytica, the data firm with ties to President Trump’s 2016 campaign. The results of Channel 4’s work were broadcast ... days after reports ... that the firm had harvested the data from more than 50 million Facebook profiles in its bid to develop techniques for predicting the behavior of individual American voters. Less noticed has been the work that Cambridge Analytica and its parent company, the SCL Group, have done outside the United States. “Many of our clients don’t want to be seen to be working with a foreign company,” he told the Channel 4 reporter. “We can set up fake IDs and websites.” Mr. Nix ... boasted that Cambridge Analytica employs front companies and former spies on behalf of political clients. The information that is uncovered ... is then put “into the bloodstream to the internet,” said Mark Turnbull, another Cambridge executive. “Then watch it grow,” he added. “It has to happen without anyone thinking, ‘That’s propaganda.’”

Note: Watch an astounding video revealing how Cambridge Analytica has successfully manipulated national elections around the world using sleazy tactics like pretty women to entrap candidates and offering major bribes while recording the exchange. And here is a video featuring the whistleblower who exposed this.


No CEO should earn 1,000 times more than a regular employee
2018-03-18, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/business/2018/mar/18/america-ceo-worker-pay-gap-n...

The CEO of Marathon Petroleum, Gary Heminger, took home an astonishing 935 times more pay than his typical employee in 2017. One of Marathon’s gas station workers would have to toil more than nine centuries to make as much as Heminger grabbed in just one year. Employees of at least five other US firms would have to work even longer – more than a millennium – to catch up with their top bosses. These companies include the auto parts maker Aptiv (CEO-worker pay ratio: 2,526 to 1), the temp agency Manpower (2,483 to 1), amusement park owner Six Flags (1,920 to 1), Del Monte Produce (1,465 to 1), and apparel maker VF (1,353 to 1). These revelations come thanks to a new federal regulation that requires publicly traded US corporations to disclose, for the first time ever, how much their chief executives are making compared with their median workers. The disclosures are just now starting to flow in. Ever since 2010, the year Congress plugged a ratio disclosure mandate into the Dodd-Frank financial reform act, corporate lobbyists have been scheming to delay and repeal that mandate’s implementation. But responsible investors and other activists rallied and kept the mandate in place. The new ratios offer a benchmark for corporate greed that exposes exactly which firms are sharing the wealth their employees create and which aren’t, knowledge we can use to impose consequences on the corporations doing the most to make the United States more unequal.

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


‘I made Steve Bannon’s psychological warfare tool’: meet the data war whistleblower
2018-03-18, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/news/2018/mar/17/data-war-whistleblower-christoph...

At 24, [Christopher Wylie] came up with an idea that led to the foundation of a company called Cambridge Analytica, a data analytics firm that went on to claim a major role in the Leave campaign for Britain’s EU membership referendum, and later became a key figure in digital operations during Donald Trump’s election campaign. In 2014, Steve Bannon ... was Wylie’s boss. And Robert Mercer, the secretive US hedge-fund billionaire and Republican donor, was Cambridge Analytica’s investor. The idea they bought into was to bring big data and social media to an established military methodology – “information operations” – then turn it on the US electorate. By [2017], Steve Bannon had become Trump’s chief strategist. Cambridge Analytica’s parent company, SCL, had won contracts with the US State Department and was pitching to the Pentagon, and Wylie was genuinely freaked out. “It’s insane,” he told me one night. “The company has created psychological profiles of 230 million Americans. And now they want to work with the Pentagon? It’s like Nixon on steroids.” He ended up showing me a tranche of documents that laid out the secret workings behind Cambridge Analytica. Wylie ... came up with a plan to harvest the Facebook profiles of millions of people in the US, and to use their private and personal information to create sophisticated psychological and political profiles. And then target them with political ads designed to work on their particular psychological makeup.

Note: Billionaire Robert Mercer used this new new technology to build a corporate empire capable of swinging elections by using military propaganda strategies on civilian populations. The above article further details how mass media is being combined with Big Data to produce powerful new forms of mind control. Watch an astounding video revealing how Cambridge Analytica has successfully manipulated national elections around the world.


Schwarzenegger says he wants to sue global oil companies for first-degree murder
2018-03-13, CNBC/USA Today
https://www.cnbc.com/2018/03/13/schwarzenegger-says-he-wants-to-sue-global-oi...

Arnold Schwarzenegger says he is going after Big Oil and climate change. The actor and former governor of California said in a Politico-sponsored podcast ... that he is in talks with law firms about possibly suing global oil companies "for knowingly killing people all over the world." "The oil companies knew from 1959 on, they did their own study that there would be global warming happening because of fossil fuels, and on top of it that it would be risky for people's lives, that it would kill," Schwarzenegger said. "I don't think there's any difference: If you walk into a room and you know you're going to kill someone, it's first degree murder; I think it's the same thing with the oil companies," he said. In the podcast, Schwarzenegger compares the issue to the tobacco industry. "The tobacco industry knew for years and years and years and decades, that smoking would kill people ... and were hiding that fact from the people and denied it," Schwarzenegger said. "Then eventually they were taken to court and had to pay hundreds of millions of dollars because of that." He argues that every gas station, car and product with fossil fuels should have a warning label on it. He hopes that this will raise awareness about cleaner cars and alternative fuels. "We're going to go after them. Because to me it's absolutely irresponsible to know that your product is killing people and not have a warning label on it, like tobacco," he said.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and climate change.


The more opioids doctors prescribe, the more money they make
2018-03-11, CNN News
https://www.cnn.com/2018/03/11/health/prescription-opioid-payments-eprise/ind...

As tens of thousands of Americans die from prescription opioid overdoses each year, an exclusive analysis by CNN and researchers at Harvard University found that opioid manufacturers are paying physicians huge sums of money - and the more opioids a doctor prescribes, the more money he or she makes. The CNN/Harvard analysis looked at 2014 and 2015, during which time more than 811,000 doctors wrote prescriptions to Medicare patients. Of those, nearly half wrote at least one prescription for opioids. Fifty-four percent of those doctors - more than 200,000 physicians - received a payment from pharmaceutical companies that make opioids. Among doctors in the top 25th percentile of opioid prescribers by volume, 72% received payments. Among those in the top fifth percentile, 84% received payments. Among the very biggest prescribers ... 95% received payments. On average, doctors whose opioid prescription volume ranked among the top 5% nationally received twice as much money from the opioid manufacturers, compared with doctors whose prescription volume was in the median. Pharmaceutical company payments to doctors are not unique to opioids. Drug companies pay doctors billions of dollars for various services. In 2015, 48% of physicians received some pharmaceutical payment. The CNN and Harvard findings are in line with other studies suggesting that money from drug companies does influence a doctor's prescribing habits.

Note: From 1999 to 2015, over 183,000 people died from prescription opioid overdoses in the US. A CBS article titled, "Ex-DEA agent: Opioid crisis fueled by drug industry and Congress" describes major regulatory failures that contributed to this crisis. For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.


One thing Democrats and Republicans apparently agree on: Destabilizing the banking sector again
2018-03-09, Los Angeles Times
http://www.latimes.com/opinion/op-ed/la-oe-dayen-deregulation-bank-bill-20180...

Next week marks the 10th anniversary of the run on Bear Stearns, the investment bank that collapsed under the weight of toxic subprime mortgages ... leading to the biggest economic crisis in nearly a century. That seems like a terrible political backdrop for the Senate to pass a bill that deregulates the banking sector. But that's exactly what's about to happen. The Economic Growth, Regulatory Relief and Consumer Protection Act, which pro-regulation groups have called the "Bank Lobbyist Act," advanced in the Senate this week. The ... Congressional Budget Office stated [that the] legislation would increase the risk of another [financial crisis] happening. The bill ... rolls back key pieces of the Dodd-Frank Act and includes giveaways to large institutions of the same size and scope as the ones that crashed the economy in 2008. The most important measure in the legislation raises the threshold for enhanced regulatory supervision by the Federal Reserve from $50 billion to $250 billion. The beneficiaries, 25 of the top 38 banks in America, could be called "stadium banks:" not big enough to count as Wall Street mega-banks, but big enough to have a sports stadium named after them. Nearly all giant foreign banks with operations in the U.S. could enjoy the same weaker rules. Why would more than one-third of the Senate Democratic caucus provide the margin of victory on [this] bill. The answer is simple: money. The top three recipients of campaign donations from commercial banks since 2017 are Democrats. This whole process reveals that bipartisanship usually arrives in Washington at the barrel of a money cannon.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.


Monsanto concealed effects of toxic chemical for decades, Ohio AG alleges
2018-03-06, NBC News
https://www.nbcnews.com/news/us-news/monsanto-concealed-effects-toxic-chemica...

Ohio Attorney General Mike DeWine sued agricultural giant Monsanto on Monday, alleging the company concealed dangers posed by a toxic chemical compound it manufactured for nearly a half century. In the suit ... prosecutors argued that the company should pay for the clean-up of what it says are dozens of rivers, lakes and other water bodies contaminated with polychlorinated biphenyls, or PCBs. The company stopped manufacturing the chemical in 1977 and it was banned in 1979 by the Environmental Protection Agency. According to the suit, Monsanto produced nearly all of the PCBs - which were used in everything from lubricants to electrical equipment - in the United States between 1929 and 1977. The chemical has been linked to cancer, liver damage and other negative health effects. The suit alleges that Monsanto learned of PCBs’ toxic effects in the 1930s, yet it kept producing the compound while concealing its effects. The suit claims the company acknowledged that prolonged exposure could produce "systemic toxic effects" in an internal memo in 1937, so it undertook a "decades-long campaign of misinformation and deception."

Note: Other major lawsuits are beginning to unfold over Monsanto's lies to regulators and the public on the dangers of its products, most notably Roundup. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health.


America's horrifying new plan for animals: highspeed slaughterhouses
2018-03-06, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/commentisfree/2018/mar/06/ive-seen-the-hidden-hor...

If you care about animal welfare or food safety, this news will concern you: the nationwide expansion of a risky US Department of Agriculture (USDA) high-speed slaughter program is imminent. There is still time to stop it. The USDA is now accepting public comments on its proposed rule that it euphemistically dubbed the “Modernization of Swine Slaughter Inspection”. As a former undercover investigator who worked inside a pig slaughterhouse operating under the pilot project that was, at the time, called HIMP, I’ve seen firsthand the hazardous and cruel nature of this controversial program. This expanded program ... would allow facilities to increase slaughter speeds, while reducing the number of trained government inspectors on the lines. The result is problems that can – and do – go unnoticed. For nearly six months, I worked undercover inside Quality Pork Processors (QPP). An exclusive Hormel Foods supplier, QPP kills about 1,300 pigs every hour operating under the high-speed pilot program. I documented pig carcasses covered in feces and abscesses being processed for human consumption, and workers ... beating, dragging, and electrically prodding pigs to make them move faster. NSIS may also allow higher numbers of sick and injured pigs too weak even to stand (known as “downers”) to be slaughtered for food. In 2016, a letter from 60 members of Congress to the USDA stated “the available evidence suggests the hog HIMP will undermine food safety.”

Note: The above was written by Scott David, a former undercover investigator at Compassion Over Killing, a national animal protection organization. For more, see concise summaries of deeply revealing news articles on corruption in government and in the food system.


Monsanto demands Avaaz hands over all of its campaign data
2018-02-23, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/environment/2018/feb/23/monsanto-demands-avaaz-ha...

A US court will today hear a request from Monsanto for access to a huge batch of internal communications by Avaaz, in a move that the campaign group says could have grave repercussions for online activism and data privacy. Monsanto is seeking the release of all lobby documents ... where the firm or its herbicide ingredient glyphosate have been mentioned. Avaaz says this would include personal information about its employees, as well as the email addresses of more than four million signatories to petitions against Monsanto’s GM and glyphosate policies. A victory for Monsanto in today’s hearing would cost the online advocacy group thousands of person-hours of work time, and hundreds of thousands of dollars, according to Avaaz’s lawyers. It could even raise the prospect of a migration out of online activism by campaigners concerned about corporate surveillance. Monsanto’s [request] demands all documents Avaaz employees have created, maintained, received, sent or copied, where these involve discussion about glyphosate, Monsanto, or the World Health Organization’s International Agency for Research on Cancer, which found glyphosate to probably be carcinogenic. Monsanto filed its request shortly after a bitter EU regulatory battle ended with its license for glyphosate – the core ingredient in Roundup – being extended by just five years, rather than the 15 years originally sought.

Note: Read more on Avaaz and the power of online activism. Major lawsuits are beginning to unfold over Monsanto's lies to regulators and the public on the dangers of its products, most notably Roundup. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health.


Kept out: How banks block people of color from homeownership
2018-02-16, Chicago Tribune/Associated Press
http://www.chicagotribune.com/news/sns-bc-us--reveal-modern-day-redlining-201...

Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts. This modern-day redlining persisted in 61 metro areas even when controlling for applicants' income, loan amount and neighborhood, according to millions of ... records analyzed by Reveal from The Center for Investigative Reporting. Lenders and their trade organizations do not dispute the fact that they turn away people of color at rates far greater than whites, [and] singled out the three-digit credit score ... as especially important in lending decisions. Reveal's analysis included all records publicly available under the Home Mortgage Disclosure Act. Credit score was not included because that information is not publicly available. That's because lenders have deflected attempts to force them to report that data to the government. America's largest bank, JPMorgan Chase & Co., has argued that the data should remain closed off even to academics. At the same time, studies have found proprietary credit score algorithms to have a discriminatory impact on borrowers of color. The "decades-old credit scoring model" currently used "does not take into account consumer data on ... bill payments," Republican Sen. Tim Scott of South Carolina wrote in August. "This exclusion disproportionately hurts African-Americans, Latinos, and young people who are otherwise creditworthy."

Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and civil liberties.


Lockheed Martin got $35.2 billion from taxpayers last year. That’s more than many federal agencies.
2018-02-16, Washington Post
https://www.washingtonpost.com/business/economy/in-trumps-budget-lockheed-loo...

Of Lockheed Martin’s $51 billion in sales last year, nearly 70 percent, or $35.2 billion, came from sales to the U.S. government. It’s a colossal figure, hard to comprehend. So think of it this way: Lockheed’s government sales are nearly what the Trump administration proposed for the State Department next year in its recently released spending plan. Or $15 billion more than all of NASA. Or about the gross domestic product of Bolivia. Year after year, Lockheed has received more federal money than any other corporation. Now, President Trump has opened the floodgates for defense spending, proposing $716 billion for the Pentagon, a 13 percent increase. And the defense industry is poised to profit, with Lockheed in the lead. “Diplomacy is out; airstrikes are in,” said Richard Aboulafia, an aerospace consultant with the Teal Group. In 2013, Marine Corps Gen. Jim Mattis, now the secretary of defense, told Congress, “If you don’t fully fund the State Department, then I need to buy more ammunition.” As journalist Fred Kaplan noted in Slate, the Trump administration’s budget calls for a more than 25 percent increase in spending on missiles and munitions and a 26 percent cut to the State Department’s funding. The Pentagon wants to buy more Super Hornet fighter jets, a boon for Boeing. But ... there has been nothing like the Lockheed Martin F-35 Joint Strike Fighter. Over its projected 60-year life span, it’s expected to cost more than $1 trillion, making it the most expensive weapons program in the history of the Defense Department.

Note: Lockheed Martin runs a breathtakingly big part of the United States, and was reported in 2015 to be “engaged in deep and systemic corruption" including paying off a Congresswoman. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.


German workers win right to 28-hour week
2018-02-07, CNN News
http://money.cnn.com/2018/02/07/news/economy/germany-28-hour-work-week/index....

Millions of German workers are winning the fight for a 28-hour work week. Labor union IG Metall secured an unprecedented deal this week to give a large portion of its 2.3 million members more flexible working hours and a big pay rise. From next year, workers at many of Germany's top engineering firms - such as Mercedes-Benz owner Daimler - can opt to work 28 hours a week for up to two years, before returning to the standard 35-hour week. The deal was negotiated with representatives of more than 700 companies in southwest Germany. It is expected to have ripple effects across German industry. "This sets the standard for everyone else," said Megan Greene, chief economist at Manulife Asset Management. IG Metall said the flexibility would help employees who want to care for children or relatives. Pay will be reduced to reflect the shorter working week. The deal also gives workers the option to work 40 hours to earn more. And non-unionized workers could also benefit from the agreement as firms that employ IG Metall workers offer the same terms to their wider workforce. Daimler said it would offer the new flexible hours to all its employees starting in 2019. Bosch, which employs 138,000 people in Germany, said it would offer the same pay rises and perks to the majority of its German workers. It said the flexible hours wouldn't be disruptive. But other companies may find it harder to swallow.

Note: Several major studies have found that long working hours negatively impact health.


What Happens When Amazon Takes on Health Care
2018-02-01, Time
http://time.com/5128377/amazon-and-friends-takes-on-a-new-industry-health-care/

Amazon has announced that it - along with Warren Buffett’s Berkshire Hathaway and the banking behemoth JPMorgan Chase - will be entering the dominion of health care. Word that Amazon was entering health care immediately depressed the value of old-school health-insurance companies. Anyone who has been a customer of either knows why. The U.S. health care system is the antithesis of Silicon Valley. Grossly inefficient and user-unfriendly, it may be the least transparent enterprise outside the Kremlin - and just as awash in money. The $3.3 trillion that Americans spent on health care in 2016 was close to Germany’s entire GDP that year. It accounted for an astounding 18% of the U.S. gross domestic product - twice the share other developed countries typically spend on health - and produced a return on investment that would get any CEO fired. Life expectancy in the U.S. is actually going down. David Cutler, a health economist at Harvard, made the striking calculation that administration accounts for about a quarter of the cost of health care. He once pointed out that Duke University Hospital had 900 beds and 1,300 billing clerks. If the triad of Amazon, Berkshire Hathaway and JPMorgan Chase can find a way to bring sense to health care, the savings will accrue first for those three companies, which are not acting out of altruism. But ... when the worker reaches a doctor without having to run a gauntlet, the vaunted, disruptive efficiency of tech will have produced a common good.

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