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Corporate Corruption News Articles
Excerpts of key news articles on corporate corruption


Below are key excerpts of little-known, yet highly revealing news articles on corporate corruption from the major media. Links are provided to the full news articles for verification. If any link fails to function, read this webpage. These articles on corporate corruption are listed by order of importance. You can also explore them ordered by the date of the article or by the date posted. By choosing to educate ourselves, we can build a brighter future.


Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.


Australia banking inquiry: 'Scathing' report calls for industry overhaul
2019-02-04, BBC
https://www.bbc.com/news/world-australia-47112040

A national inquiry into Australia's scandal-plagued financial sector has proposed sweeping changes in an attempt to end rampant industry misconduct. The Royal Commission spent 12 months investigating wrongdoing by some of the nation's biggest institutions. Prominent scandals included the charging of fees for no service - sometimes to dead customers. The government said it would act on all 76 recommendations made by the inquiry. The Royal Commission - Australia's highest form of public inquiry - came after a decade of scandals that shook confidence in the country's largest industry. After the report was made public on Monday, Treasurer Josh Frydenberg said the public had paid an "immense" price for the misconduct. "It's a scathing assessment of conduct driven by greed and behaviour that was in breach of existing law and fell well below community expectations," he said. The Royal Commission received more than 10,000 public submissions. It interviewed over 130 witnesses in public hearings. The report made 76 recommendations for reform, including: More than 20 unidentified cases to be referred on to regulators, resulting in possible criminal or civil prosecutions; There should be an overhaul of the sector's sales culture to reduce conflicts of interest; Regulators need to more regularly prosecute breaches, or lose some of their powers. The government has been criticised for initially resisting the probe, which it later described as "regrettable but necessary" action to restore public trust.

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


Your Apps Know Where You Were Last Night, and They’re Not Keeping It Secret
2018-12-10, New York Times
https://www.nytimes.com/interactive/2018/12/10/business/location-data-privacy...

At least 75 companies receive anonymous, precise location data from apps whose users enable location services. Several of those businesses claim to track up to 200 million mobile devices in the United States — about half those in use last year. The database reviewed by The Times ... reveals people’s travels in startling detail, accurate to within a few yards and in some cases updated more than 14,000 times a day. These companies sell, use or analyze the data to cater to advertisers, retail outlets and even hedge funds. It’s a hot market, with sales of location-targeted advertising reaching an estimated $21 billion this year. Businesses say their interest is in the patterns, not the identities, that the data reveals. They note that the information apps collect is tied not to someone’s name or phone number but to a unique ID. But those with access to the raw data — including employees or clients — could still identify a person without consent. They could follow someone they knew, by pinpointing a phone that regularly spent time at that person’s home address. More than 1,000 popular apps contain location-sharing code from such companies. Google’s Android system was found to have about 1,200 apps with such code, compared with about 200 on Apple’s iOS.

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


These NHS Staff Were Told The Swine Flu Vaccine Was Safe, And Now They're Suffering The Consequences
2018-02-23, BuzzFeed
https://www.buzzfeed.com/shaunlintern/these-nhs-staff-were-told-the-swine-flu...

When nurse Meleney Gallagher was told to line up with her colleagues on the renal ward at Sunderland Royal Hospital, for her swine flu vaccination, she had no idea the injection she was about to have had not gone through the usual testing process. It had been rushed into circulation after the swine flu virus had swept across the globe in 2009. Gallagher was one of thousands of NHS staff vaccinated with Pandemrix, a vaccine made by pharmaceutical giant GlaxoSmithKline (GSK). Eight years later, her career in the NHS is a memory and she's living with incurable, debilitating narcolepsy and suffers from cataplexy, a sudden, uncontrollable loss of muscle tone that can cause her to collapse without warning. Because of her condition, she can no longer work or drive. People with narcolepsy experience chronic fatigue and difficulty sleeping at night. They can have night terrors, hallucinations, and a range of mental health problems. Gallagher is not alone. More than a dozen frontline NHS staff are among around 1,000 adults and children across Europe who are believed to have developed narcolepsy after being given Pandemrix. Gallagher and four other NHS professionals – two nurses, a community midwife, and a junior doctor – have told how they felt pressured into receiving the vaccine, were given misleading information, and ultimately lost their careers. They are all suing GlaxoSmithKline seeking compensation for what they believe was a faulty drug that has left them with lifelong consequences.

Note: Yet the media and big Pharma continually tout the safety of their vaccines. For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.


A Weed Killer Is Increasingly Showing Up in People's Bodies
2017-10-24, Time
https://time.com/4993877/weed-killer-roundup-levels-humans/

The latest study to look at the long-term effects of Roundup, a popular weed killer developed by Monsanto in the 1970s, raises questions about the herbicide's possible contributions to poor health in certain communities. The study, published Tuesday in JAMA, tracked people over the age of 50 in southern California from 1993-1996 to 2014-2016, with researchers periodically collecting urine samples during that time. The percentage of people who tested positive for a chemical called glyphosate, which is the active ingredient in the herbicide Roundup, shot up by 500% in that time period. The levels of glyphosate also spiked by 1208% during that time. One trial from the UK, in which rats were fed low levels of glyphosate throughout their lives, found that the chemical contributed to a higher risk of nonalcoholic fatty liver disease, a condition in which fat accumulates in the liver and contributes to inflammation and scarring of the tissue. [Researcher Paul] Mills says that the levels of glyphosate documented in the people in his study were 100-fold greater than those in the rats. While Roundup was developed to eliminate most weeds from genetically modified crops – and thus reduce the amount of pesticides sprayed on them – recent studies have found that many weeds are now resistant to Roundup. That means growers are using more Roundup, which could only exacerbate potential negative health effects on people who consume those products.

Note: Bayer recently agreed to a $10 billion settlement over claims that its glyphosate-containing product RoundUp causes cancer. Meanwhile, Mexico is banning glyphosate and GMO corn. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and GMOs from reliable major media sources.


Inside Payless’s elaborate prank to dupe people into paying $600 for shoes
2018-11-30, Washington Post
https://www.washingtonpost.com/business/2018/11/30/they-had-us-fooled-inside-...

A mini-runway, lined with stiletto heels, glistens in bright fluorescent lighting. Shoes of various types sit neatly in individual glass shelves. It was a private launch party of a new luxury brand of shoes called Palessi, designed by Italian designer Bruno Palessi. “I would pay $400, $500.’” a woman said as she tried on a pair of bright-gold sneakers. The woman was not actually buying a Palessi because there’s no such brand, and there’s no Bruno Palessi. There is, however, Payless ShoeSource, a discount shoe retailer hoping to shake things up through an ... advertising prank to attract new customers and change the perception that the company sells cheap, unfashionable shoes. The prank also points to a reality about the human mind: Consumers are not capable of discerning the quality and value of the things they buy, said Philip Graves, a consumer behavior consultant. Slap a fancy-sounding European label on $30 shoes, and you have an illusion of status that people will pay an exorbitant amount of money for. On the day of the launch ... after attendees purchased overpriced shoes ― some for $200, $400 and $600 ― they were taken toward the backroom, where the prank was revealed. “You’ve got to be kidding me,” said [one attendee], her eyes wide as she stared down at the overpriced shoes in her hands. “Consumers have been paying hugely inflated prices,” [said Graves]. “Some of the pleasures that we get from things that we buy come from the money we spent on them.”

Note: While this marketing prank demonstrated the public's willingness to ignore product quality in evaluating the cost of purchases, a much more serious study recently found that the average CEO-to-worker pay ratio has now reached 339 to 1 across US companies.


Millions of Americans Have Lost Jobs in the Pandemic — And Robots and AI Are Replacing Them Faster Than Ever
2020-08-06, Time magazine
https://time.com/5876604/machines-jobs-coronavirus/

For 23 years, Larry Collins worked in a [toll] booth. But one day in mid-March, as confirmed cases of the coronavirus were skyrocketing, Collins’ supervisor called and told him not to come into work the next day. Collins’ job was disappearing, as were the jobs of around 185 other toll collectors at bridges in Northern California, all to be replaced by technology. The drive to replace humans with machinery is accelerating as companies struggle to avoid workplace infections of COVID-19 and to keep operating costs low. The U.S. shed around 40 million jobs at the peak of the pandemic. Some will never return. One group of economists estimates that 42% of the jobs lost are gone forever. This replacement of humans with machines may pick up more speed in coming months as companies move from survival mode to figuring out how to operate while the pandemic drags on. Robots could replace as many as 2 million more workers in manufacturing alone by 2025. “Look at the business model of Google, Facebook, Netflix. They’re not in the business of creating new tasks for humans,” says Daron Acemoglu, an MIT economist. The U.S. government incentivizes companies to automate, he says, by giving tax breaks for buying machinery and software. A business that pays a worker $100 pays $30 in taxes, but a business that spends $100 on equipment pays about $3 in taxes, he notes. The 2017 Tax Cuts and Jobs Act lowered taxes on purchases so much that “you can actually make money buying equipment,” Acemoglu says.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the coronavirus from reliable major media sources.


COVID vaccines are set to be among the most lucrative pharmaceutical products ever
2021-11-24, NPR
https://www.npr.org/2021/11/24/1059041725/covid-vaccines-are-set-to-be-among-...

This year, Pfizer expects to bring in $36 billion from worldwide sales of its COVID-19 vaccine. That would shatter the previous record in annual sales for a single pharmaceutical product - about $20 billion for the anti-inflammatory drug Humira - and make the Pfizer vaccine the bestselling pharmaceutical product ever. Moderna will deliver fewer doses but is still expecting up to $18 billion in sales for the year for its COVID-19 vaccine. Humira, has been ... churning out tens of billions of dollars a year for multiple years on end. And it's not entirely clear that the mRNA vaccines will do that. Just because Pfizer and Moderna are selling billions of doses now doesn't mean that will last forever. The vaccines could work so well they eliminate the need for further boosters, though it's also possible COVID shots could become routine, like flu shots. The uncertainty puts a premium on maximizing sales now. Any vaccine manufacturer is going to realize that there's a risk that they're going to have a very short lifecycle. Moderna got a lot of government funding, offsetting costs and minimizing risks. But the COVID-19 vaccine is its only product on the market. Pfizer, on the other hand, didn't accept early government investment and took on a lot of those upfront costs itself. But it has dozens of other products in its portfolio that it makes and will continue to make once the pandemic ends.

Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.


'Medication or housing': why soaring insulin prices are killing Americans
2019-09-23, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/society/2019/sep/23/diabetes-americans-soaring-in...

Jada Renee Louis of Newport News, Virginia, died on 22 June 2019 about a week after requiring emergency hospital care for diabetic ketoacidosis, a serious complication caused by a lack of insulin, and a foot ulcer. She was 24. A type 1 diabetic, Louis, who did not have health insurance coverage, couldn’t afford the cost of her insulin doses and pay her rent. She chose to skip doses in order to pay her rent. Today a vial of insulin – which will last 28 days once opened – costs about $300 in the US. “People are literally dying over $300 like my sister did. People shouldn’t have to choose between medications or shelter. That’s the most outrageous decision for somebody to have to make, yet people are doing it daily,” Jazmine Baldwin, Louis’s sister, [said]. Price gouging of insulin and other barriers to accessing it are symptomatic of America’s broken healthcare system, diabetes advocates argue, and the resulting deaths and struggles of those with diabetes demonstrate the need for systemic reforms. Between 2012 to 2016, the average cost of insulin in the United States nearly doubled to $5,705 per year for individuals with type 1 diabetes. Production costs for a vial of insulin are estimated to cost around $5 while pharmaceutical companies charge as high as $540 per vial and Americans are dying as a result of being unable to afford it in addition to the expensive costs of medical care, and supplies such as syringes and glucose monitors. Some 1.25 million Americans are currently diagnosed with type 1 diabetes.

Note: For more along these lines, see concise summaries of deeply revealing news articles on pharmaceutical industry corruption from reliable major media sources.


New Hulu documentary reveals dark discoveries about Victoria's Secret
2022-08-16, San Francisco Chronicle (San Francisco's leading newspaper)
https://www.sfgate.com/streaming/article/hulu-doc-victorias-secret-review-173...

For decades, mallgoers, slightly confused teenage girls and horny teenage boys have wondered what secret this mysterious Victoria is hiding. The new three-part Hulu docuseries "Victoria's Secret: Angels and Demons" explores these secrets and, well, they are less "she only wears thongs (wink)" and more "wait, was this brand just a lot of pink thongs covering up the very real exploitation of underage girls?" The business was sold to Les Wexner [in 1982]. With Victoria's Secret in about 100 stores across America, Les Wexner hired Jeffrey Epstein as an investment advisor. Then Wexner quite suddenly gave him power of attorney in 1991, the most expensive home in New York City in the mid-'90s and sold Epstein his private jet well below market value. That private jet became known in the press as the Lolita Express, aka the jet where Epstein is accused of taking underage girls to be abused and exploited. Epstein allegedly began describing himself to women he'd meet as a recruiter for Victoria's Secret models in 1993. Wexner claims he cut all ties with Epstein after his first arrest, and he would go on to publicly condemn Epstein after his death in 2019, but the documentary alleges that L Brands directly paid for Epstein's legal defense, which was never publicly reported. There [was] a reported instance where Epstein, while staying in the guest house on Wexner's property, held a woman hostage for 12 hours after he and Ghislaine Maxwell allegedly assaulted her, leading her to call the police for help.

Note: Watch an eye-opening video on the top 10 shocking reveals of this documentary. For more along these lines, see concise summaries of deeply revealing news articles on Jeffrey Epstein's child sex ring from reliable major media sources.


Big pharma sick as the US moves to negotiate drug prices
2022-08-12, MSN News
https://www.msn.com/en-us/news/politics/big-pharma-sick-as-the-us-moves-to-ne...

Big Pharma spent more than any other industry to lobby Congress and federal agencies this year, a Reuters analysis shows, but is still on course for a major defeat by failing to stop a bill that allows the government to negotiate prices on select drugs. The $430 billion Inflation Reduction Act to change climate, health, and tax policies cleared its largest hurdle last week when Democratic lawmakers passed it in the Senate. The U.S. House of Representatives is also expected to pass it on Friday, allowing President Joe Biden to sign it into law. A Kaiser Family Foundation poll in October found that 83% of Americans, including 95% of Democrats and 71% of Republicans, want the federal Medicare health plan for seniors to negotiate prices. The industry's powerful trade association, Pharmaceutical Research and Manufacturers of America (PhRMA), urged senators in a public letter to reject the bill. A Reuters analysis ... shows that the pharmaceutical industry has spent at least $142.6 million on lobbying Congress and federal agencies in the first half of 2022, more than any industry, and at least $16.1 million on campaign contributions during the current mid-term election cycle. Almost two thirds of the money spent on lobbying ... came from PhRMA and its member companies. The bill's provision for drug price negotiations was scaled back in November, allowing Medicare to focus on an annual maximum of 20 of the costliest medicines by 2029, instead of an initial proposal to help reduce prices for 250 treatments.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the pharmaceutical industry from reliable major media sources.


Synthetic chemical in consumer products linked to early death, study finds
2021-10-12, CNN News
https://www.cnn.com/2021/10/12/health/plastic-chemical-early-death-wellness/i...

Synthetic chemicals called phthalates, found in hundreds of consumer products such as food storage containers, shampoo, makeup, perfume and children's toys, may contribute to some 91,000 to 107,000 premature deaths a year among people ages 55 to 64 in the United States, a new study found. People with the highest levels of phthalates had a greater risk of death from any cause, especially cardiovascular mortality, according to the study published Tuesday in the peer-reviewed journal Environmental Pollution. Phthalates are known to interfere with the body's mechanism for hormone production, known as the endocrine system, and they are "linked with developmental, reproductive, brain, immune, and other problems," according to the National Institute of Environmental Health Sciences. Even small hormonal disruptions can cause "significant developmental and biological effects," the NIEHS states. Prior research has connected phthalates with reproductive problems, such as genital malformations and undescended testes in baby boys and lower sperm counts and testosterone levels in adult males. Often called "everywhere chemicals" because they are so common, phthalates are added to consumer products such as PVC plumbing, vinyl flooring, rain- and stain-resistant products, medical tubing, garden hoses, and some children's toys. Other common exposures come from the use of phthalates in food packaging, detergents, clothing, furniture and automotive plastics.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health from reliable major media sources.


Lawmaker Threatens to Subpoena Exxon After Secret Video
2021-07-02, New York Times
https://www.nytimes.com/2021/07/02/climate/congress-exxon-climate-change.html

The chairman of a House subcommittee is demanding that executives of Exxon Mobil Corp., Shell, Chevron and other major oil and gas companies testify before Congress about the industry's decades-long effort to wage disinformation campaigns around climate change. Representative Ro Khanna, Democrat of California, said Friday he was prepared to use subpoena power to compel the companies to appear before lawmakers if they don't do so voluntarily. The move comes a day after a secretive video recording was made public in which a senior Exxon lobbyist said the energy giant had fought climate science through "shadow groups" and had targeted influential senators in an effort to weaken President Biden's climate agenda. "The video was appalling," Mr. Khanna said in an interview on Friday. He called it the latest evidence of the fossil fuel industry's efforts to "engage in climate denialism and to manipulate public opinion and to exert undue influence in shaping policy in Congress." Mr. Khanna said the House Oversight and Reform Subcommittee on the Environment, which he chairs, will issue letters next week to top executives at Exxon Mobil, Shell, Chevron and other oil and gas companies and trade groups demanding documents and testimony. One major target of the panel's inquiry are dark money groups that have been funded by fossil fuel companies to disseminate falsehoods about climate science and policy solutions. The hearing is expected to be held in the fall.

Note: Learn more in this Washington Post article. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and climate change from reliable major media sources.


IRS records show wealthiest Americans, including Bezos and Musk, paid little in income taxes as share of wealth, report says
2021-06-08, Washington Post
https://www.washingtonpost.com/business/2021/06/08/wealthy-irs-taxes/

The wealthiest Americans – including Warren Buffett, Elon Musk and Jeff Bezos – paid little in federal income taxes at times in recent years despite soaring fortunes, according to Internal Revenue Service data obtained by ProPublica. The information published Tuesday shows how billionaires are able to legally reduce their tax burden, highlighting how the American tax system can hit ordinary wage earners harder than the richest people in the country. That's often because the richest Americans tend to have their wealth tied up in stocks and real estate, allowing them to avoid taxes on unrealized profits. The U.S. tax system focuses on income, not what is known as unrealized gains from unsold stocks, real estate or other assets. The records ... purport to show Buffett, head of Berkshire Hathaway, as having paid $23.7 million in federal income taxes on total income of $125 million from 2014 to 2018, which would indicate a personal income tax rate of 19 percent. ProPublica estimated that Buffett saw his wealth soar by $24.3 billion during that period and so his "true tax rate" was 0.10 percent. Musk, chief executive of Tesla, paid $455 million on $1.52 billion in income during the same period, when his wealth grew by $13.9 billion, accounting for a "true tax rate" of 3.27 percent. Bezos, chief executive of Amazon and the owner of The Washington Post, paid $973 million in taxes on $4.22 billion in income, as his wealth soared by $99 billion, resulting in a 0.98 percent "true tax rate."

Note: Learn about important facts this article leaves out in this excellent piece. For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.


Covid vaccine profits mint 9 new pharma billionaires
2021-05-21, MSN News
https://www.msn.com/en-us/news/world/covid-vaccine-profits-mint-9-new-pharma-...

Covid-19 vaccines have created at least nine new billionaires after shares in companies producing the shots soared. Topping the list of new billionaires are Moderna CEO StÄ‚©phane Bancel and Ugur Sahin, the CEO of BioNTech, which has produced a vaccine with Pfizer. Both CEOs are now worth around $4 billion, according to an analysis by the People's Vaccine Alliance, a campaign group that includes Oxfam, UNAIDS, Global Justice Now and Amnesty International. Senior executives from China's CanSino Biologics and early investors in Moderna have also become billionaires on paper as shares skyrocketed. Moderna's share price has gained more than 700% since February 2020, while BioNTech has surged 600%. CanSino Biologics' stock is up about 440% over the same period. The company's single-dose Covid-19 vaccine was approved for use in China in February. Activists said the wealth generation highlighted the stark inequality that has resulted from the pandemic. The nine new billionaires are worth a combined $19.3 billion, enough to fully vaccinate some 780 million people in low-income countries. "These billionaires are the human face of the huge profits many pharmaceutical corporations are making from the monopoly they hold on these vaccines," Anne Marriott, Oxfam's health policy manager, said. "These vaccines were funded by public money and should be first and foremost a global public good, not a private profit opportunity," she added.

Note: You would hope that with all the suffering going on in our world, big Pharma wouldn't gouge and make huge profits on their vaccines. Sadly, this is far from the truth. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and the coronavirus vaccine from reliable major media sources.


Pharmaceutical Industry Dispatches Army of Lobbyists to Block Generic COVID-19 Vaccines
2021-04-23, The Intercept
https://theintercept.com/2021/04/23/covid-vaccine-ip-waiver-lobbying/

The pharmaceutical industry is pouring resources into the growing political fight over generic coronavirus vaccines. Over 100 lobbyists have been mobilized to contact lawmakers and members of the Biden administration, urging them to oppose a proposed temporary waiver on intellectual property rights by the World Trade Organization that would allow generic vaccines to be produced globally. Pharmaceutical lobbyists working against the proposal include Mike McKay, a key fundraiser for House Democrats, now working on retainer for Pfizer, as well as several former staff members to the U.S. Office of Trade Representative, which oversees negotiations with the WTO. Several trade groups funded by pharmaceutical firms have also focused closely on defeating the generic proposal, new disclosures show. The U.S. Chamber of Commerce, the Business Roundtable, and the International Intellectual Property Alliance, which all receive drug company money, have dispatched dozens of lobbyists to oppose the initiative. The push has been followed by a number of influential voices taking the side of the drug lobby. Last week, Sen. Thom Tillis, R-N.C., released a letter demanding that the administration "oppose any and all efforts aimed at waiving intellectual property rights." Currently, only 1 percent of coronavirus vaccines are going to low-income countries, and projections show much of the world's population may not be vaccinated until 2023 or 2024.

Note: Has it ever been more clear that big Pharma places profits above health, even when it might cause huge numbers of people to die? For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and coronavirus vaccines from reliable major media sources.


New report finds toxic heavy metals in popular baby foods. FDA failed to warn consumers of risk.
2021-02-04, Washington Post
https://www.washingtonpost.com/business/2021/02/04/toxic-metals-baby-food/

A congressional report found many of the products made by the country's largest commercial baby food manufacturers contain significant levels of toxic heavy metals, including arsenic, lead, cadmium and mercury, which can endanger infant neurological development. The report ... from the House Oversight Committee's subcommittee on economic and consumer policy found heavy metals in rice cereals, sweet potato puree, juices and sweet snack puffs made by some of the most trusted names in baby food. Gerber, Beech-Nut, HappyBABY (made by Nurture) and Earth's Best Organic baby foods (made by Hain Celestial Group) complied with the committee's request to submit internal testing documents. Campbell Soup, which sells Plum Organics baby foods, Walmart (its private brand is Parent's Choice) and Sprout Foods declined to cooperate. Although there are no maximum arsenic levels established for baby food ... the FDA has set the maximum allowable levels in bottled water at 10 ppb of inorganic arsenic. Hain ... used many ingredients in its baby foods with as much as 309 ppb of arsenic. Lead levels in baby foods should not exceed 1 ppb. Beech-Nut used ingredients containing as much as 886.9 parts per billion of lead. In addition, Gerber used carrots containing as much as 87 ppb of cadmium and Nurture sold baby foods with as much as 10 ppb of mercury. And even when baby foods tested over companies' internal limits for these heavy metals, they were sold anyway.

Note: For more along these lines, see concise summaries of deeply revealing news articles on food system corruption from reliable major media sources.


Pfizer CEO Sold Millions In Stock After Coronavirus Vaccine News, Raising Questions
2020-11-11, NPR
https://www.npr.org/2020/11/11/933957580/pfizer-ceo-sold-millions-in-stock-af...

The chairman and CEO of Pfizer, Albert Bourla, sold $5.6 million worth of stock in the pharmaceutical company on Monday. The sale took place on the same day Pfizer announced that its experimental coronavirus vaccine candidate was found to be more than 90% effective. Bourla's sale of Pfizer stock was part of a trading plan set months in advance. Known as 10b5-1 plans, they essentially put stock trades on autopilot. Executives are supposed to adopt these plans only when they are not in possession of inside information that can affect a company's stock price. On Aug. 19, Bourla implemented his stock-trading plan. The next day, Aug. 20, Pfizer issued a press release ... confirming that Pfizer and its German partner, BioNTech, were "on track to seek regulatory review" for its vaccine candidate. Daniel Taylor, an expert in insider trading ... told NPR that the close timing between the adoption of Bourla's stock plan and the press release looked "very suspicious." "It's wholly inappropriate for executives at pharmaceutical companies to be implementing or modifying 10b5-1 plans the business day before they announce data or results from drug trials," Taylor said. The stock sales by Pfizer's CEO brought to mind similar concerns with another coronavirus vaccine-maker, Moderna. Multiple executives at Moderna adopted or modified their stock-trading plans just before key announcements about the company's vaccine. Those executives have sold tens of millions of dollars in Moderna stock.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.


Moderna executives hiked their stock sales after announcing positive vaccine trial
2020-07-21, CBS News
https://www.cbsnews.com/news/moderna-executives-increased-stock-sales-after-c...

Moderna CEO StÄ‚©phane Bancel more than tripled the number of his company shares to be sold through an executive stock plan that was changed just days after the biotech in May announced positive early results for its coronavirus vaccine. Moderna's shares spiked on the May news, rising 30% in just one day. After seeking the executive stock plan change in May, Bancel sold more than 72,000 Moderna shares in the first 16 days of July, generating nearly $4.8 million for the executive. That was more than triple the 22,000 shares he had previously scheduled to sell during the same period through the company's executive trading plan. Another top Moderna executive, President Stephen Hoge, also had his pre-programmed executive trading plan reset around the same time. The change allowed him to sell $1.9 million worth of Moderna stock in the first two weeks of July. The executives' ... sales were made through what are known as 10b5-1 stock plans. These arrangements must be set up or amended at least 30 days before any transactions are executed; they are commonly used at publicly traded companies to help shield executives from potential claims of insider trading. The fact that the plans were changed during the pandemic as news was emerging about the company's closely watched coronavirus vaccine raises new questions about how Moderna executives have pocketed millions of dollars in recent months.

Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.


Bayer reaches over $10 billion settlement in Roundup cancer lawsuits
2020-06-04, MSN/NBC News
https://www.msn.com/en-us/news/us/bayer-reaches-105-billion-settlement-in-rou...

Bayer will pay more than $10 billion to resolve thousands of lawsuits regarding claims that its Roundup herbicide causes cancer, the company announced. Monsanto, bought by Bayer in 2018, lost a lawsuit that same year brought by a school groundskeeper who claimed its weedkiller had caused his non-Hodgkin's lymphoma. Since then, thousands of U.S. lawsuits have been filed against the company. The settlement, however, does not contain an admission of wrongdoing or liability. Bayer will pay $8.8 billion to $9.6 billion to settle existing lawsuits and then another $1.25 billion that will cover any potential litigation in the future. Lawsuits allege that Monsanto ignored warnings that its herbicide contained potentially cancer causing chemicals, then concealed the threat to consumers. A jury awarded California groundskeeper Dewayne Johnson nearly $290 million in damages in August 2018 after they found Monsanto failed to warn Johnson and other consumers about the risks posed by its weed-killing products. A judge upheld the decision upon appeal, but lowered the damages to $78 million due to what she considered an overreach in punitive damages decided by the jury. And last year, a California jury awarded a husband and wife more than $2 billion in damages in a suit that claimed Roundup caused their illness. German pharmaceuticals and chemical giant Bayer bought Monsanto in 2018 just months before Johnson won his suit against the company. Bayer eliminated the Monsanto name, but maintained the brands.

Note: The negative health impacts of Roundup are well known. Yet the EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.


American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
2020-04-22, MSN News
https://www.msn.com/en-us/money/markets/american-billionaires-have-gotten-280...

The COVID-19 pandemic is far from a great equalizer. In the same month that 22 million Americans lost their jobs, the American billionaire class's total wealth increased about 10%–or $282 billion more than it was at the beginning of March. They now have a combined net worth of $3.229 trillion. The initial stock market crash may have dented some net worths at first–for instance, that of Jeff Bezos, which dropped down to a mere $105 billion on March 12. But his riches have rebounded: As of April 15, his net worth has increased by $25 billion. These "pandemic profiteers," as a new report from the Institute for Policy Studies, a progressive think tank, calls them, is just one piece of the wealth inequality puzzle in America. In the background is the fact that since 1980, the taxes paid by billionaires, measured as a percentage of their wealth, dropped 79%. "We're reading about benevolent billionaires sharing .0001% of their wealth with their fellow humans in this crisis, but in fact they've been rigging the tax rules to reduce their taxes for decades–money that could have been spent building a better public health infrastructure," says Chuck Collins [of] the Institute for Policy Studies and coauthor of the new report, titled "Billionaire Bonanza 2020: Wealth Windfalls, Tumbling Taxes, and Pandemic Profiteers." Another key finding of the report is that after the 2008 financial crisis, it took less than 30 months for billionaire wealth to return to its pre-meltdown levels. That wealth then quickly exceeded pre-2008 levels. But as of 2019, the middle class in America has not even yet recovered to the level of its 2007 net worth.

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