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Corporate Corruption News Stories
Excerpts of Key Corporate Corruption News Stories in Major Media


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


Note: This comprehensive list of corporate corruption news stories is usually updated once a week. 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.


1 in 5 CEOs are psychopaths, study finds
2016-09-13, The Telegraph (One of the UK's leading newspapers)
Posted: 2021-06-06 21:41:56
https://www.telegraph.co.uk/news/2016/09/13/1-in-5-ceos-are-psychopaths-austr...

An Australian study has found that about one in five corporate executives are psychopaths – roughly the same rate as among prisoners. The study of 261 senior professionals in the United States found that 21 per cent had clinically significant levels of psychopathic traits. The rate of psychopathy in the general population is about one in a hundred. Nathan Brooks, a forensic psychologist who conducted the study, said the findings suggested that businesses should improve their recruitment screening. He said recruiters tend to focus on skills rather than personality features and this has led to firms hiring "successful psychopaths" who may engage in unethical and illegal practices or have a toxic impact on colleagues. "Typically psychopaths create a lot of chaos and generally tend to play people off against each other," he said. "Psychopaths ... don't mind if they violate morals. It is about getting where they want in the company and having dominance over others." The global financial crisis in 2008 has prompted researchers to study workplace traits that may have allowed a corporate culture in which unethical behaviour was able to flourish. Mr Brooks's research ... was based on a study of corporate professionals in the supply chain management industry across the US. The researchers have been examining ways to help employers screen for potential psychopaths. "We hope to implement our screening tool in businesses ... to hopefully identify this problem," Mr Brooks said.

Note: This study was retracted in 2018 following allegations of plagiarism. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.


Covid vaccine profits mint 9 new pharma billionaires
2021-05-21, MSN News
Posted: 2021-06-01 00:00:04
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.


Why Billionaires Like Bill Gates Can't Fix the Problems They Helped Create
2021-05-25, New York Times
Posted: 2021-05-31 23:58:07
https://www.nytimes.com/2021/05/25/opinion/bill-melinda-gates-foundation.html

For years, the Gates Foundation has been steered by an unusually small board of trustees, made up of Bill, his estranged wife, Melinda, and the billionaire investor Warren Buffett. The larger the foundation became, the less anyone seemed willing to ask tough questions about its secretive management structure or its penchant for giving money to lucrative pharmaceutical and credit card companies such as Mastercard, despite the fact that giving away billions to wealthy corporations set an unusual and troubling precedent in the philanthropic sector. Billionaires who make their fortunes through corporate practices that undercut workers and deepen inequality – like corporate tax avoidance, insufficient sick pay and the immoral gap in pay between executives and low-paid workers – are not the solution to problems they generate. Asking Bill Gates to fix inequality is like asking an arsonist to hose down your house after he just set it on fire. In April last year, the University of Oxford was reportedly considering offering a Covid-19 vaccine developed by its scientists on a nonexclusive basis. But then, Kaiser Health News reported, "Oxford – urged on by the Bill & Melinda Gates Foundation – reversed course. It signed an exclusive vaccine deal with AstraZeneca that gave the pharmaceutical giant sole rights and no guarantee of low prices." This dealmaking .. seemed to conflict with the Gates Foundation's stated mission to improve global access to medicines, but it's not surprising.

Note: Read more about the Gates Foundation's startling degree of media influence during the pandemic. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the coronavirus vaccine from reliable major media sources.


Big Pharma's Deadly COVID-19 Vaccine Monopoly
2021-05-12, The Intercept
Posted: 2021-05-23 15:51:50
https://theintercept.com/2021/05/12/intercepted-covid-vaccine-intellectual-pr...

A week ago, the Biden administration announced support for waiving intellectual property protection for Covid-19 vaccines. In response, Bio, a trade association representing biotechnology companies, issued a statement saying, "The United States has unfortunately chosen to set a dangerous precedent with these actions." Efforts to maintain intellectual property rights from life-saving drugs to vaccines have hindered the global response. The Biden administration surprised a lot of observers by coming out in favor of this ... temporary suspension of IP and patent enforcement on certain medications related to the Covid-19 pandemic. Right now, the way that wealthier countries – the U.S. and others – are confronting this crisis for the developing world is through voluntary agreements. There are really two ways to combat this crisis. There's a way to do it in a sense that maximizes profit for the healthcare companies, the pharmaceutical companies. And then there's the more collaborative, nonprofit approach. And early on, pharmaceutical companies were fighting this more collaborative approach. The pharmaceutical companies, in addition, have said they plan to increase prices once the pandemic quote-unquote ends. These companies are eagerly awaiting the opportunity to increase prices.

Note: 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.


Documents Reveal Pharma Plot to Stop Generic COVID-19 Vaccine Waiver
2021-05-14, The Intercept
Posted: 2021-05-23 15:50:01
https://theintercept.com/2021/05/14/covid-vaccine-waiver-generic-phrma-lobby/

The pharmaceutical industry is distributing talking points, organizing opposition, and even collecting congressional signatures in an attempt to reverse President Joe Biden's support for worldwide access to generic Covid-19 vaccines. The behind-the-scenes moves ... come as the U.S. last week announced that it would support the World Trade Organization proposal, led by India and South Africa, to temporarily waive enforcement of intellectual property and patent rights on coronavirus vaccines. Without a radical expansion in vaccine manufacturing capacity, many developing countries will not achieve mass vaccination rates until 2023 or 2024. The waiver request, which was unexpectedly endorsed by Biden's administration on May 5, is designed to provide legal immunity for drug firms to copy the formulas of existing vaccines to supply low-cost vaccines to low-income countries. On Wednesday, Jared Michaud, a lobbyist with the Pharmaceutical Research and Manufacturers of America, a trade group that represents Pfizer, Johnson & Johnson, AstraZeneca, and other major drug firms, sent an email laying out the industry's role in coaxing lawmakers to push back against a waiver. One of the documents laid out potential national security concerns and suggested that lawmakers should argue the waiver could empower Russia and China. PhRMA ... spent over $24 million on federal lobbying last year and is one of the biggest corporate players in election spending.

Note: 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.


US millionaire CEOs saw 29% pay raise while workers' pay fell, report finds
2021-05-11, The Guardian (One of the UK's leading newspapers)
Posted: 2021-05-23 15:42:09
https://www.theguardian.com/business/2021/may/11/us-millionaire-ceos-saw-29-p...

The Institute for Policy Studies calculated that the average CEO compensation in 2020 was $15.3m, when looking at the 100 companies with the lowest median wage for workers in the S&P 500 index. The median worker pay was $28,187. This means that chief executives saw a 29% pay raise compared to 2019, while workers saw a 2% decrease. For all 100 companies, median worker pay was below $50,000 for 2020. The compensation hike came as companies gave their top leaders hefty bonuses and forgiving performance benchmarks during the pandemic, allowing the top executives to cash in while their low-wage employees were essential workers. Hilton's CEO, Christopher Nassetta, had a compensation package worth $55.9m in 2020, the highest of the executives analyzed in the report, while median pay at the company was $28,608, down from $43,695 in 2019. Since the pandemic affected the company's expected performance, and thus Nassetta's expected compensation, the company's board restructured its stock awards to give its CEO ample pay in 2020, according to the report. Other CEOs were met with friendly treatment from their respective corporate boards. Chipotle's board removed the company's poor financial results from the peak of the shutdown and excluded Covid-related costs when calculating CEO Brian Niccol's compensation. Niccol received $38m last year, which is 2,898 times more than the company's median worker pay of $13,127.

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


The drug industry keeps ramping up its spending on lobbying
2021-05-07, Washington Post
Posted: 2021-05-16 21:57:07
https://www.washingtonpost.com/politics/2021/05/07/health-202-drug-industry-k...

The pharmaceutical industry keeps turning up the dial on lobbying, setting massive new spending records in its intensive effort to influence Congress and the Biden administration. Yet this week, President Biden angered drugmakers when he said he supports the waiving of intellectual property protections for coronavirus vaccines. Drug and health product manufacturers, along with their national association, spent a combined $92 million to lobby the federal government from January through March. That puts the industry on track to break its spending record for the second year in a row. Not only that, but its first-quarter spending was more than double what was spent by the second-highest-spending industry, electronics companies. There are currently 1,270 registered lobbyists for pharmaceuticals and health products – more than two lobbyists for every member of Congress. Pfizer, maker of one of the three coronavirus vaccines approved for emergency use in the United States, was the biggest spender of any individual drug company. And last year, as it was developing its vaccine, the federal government agreed to pay the company $1.95 billion for the first 100 million doses it produced. The company reported it had $3.5 billion in revenue from sales of the vaccine so far this year. Pfizer was outflanked on lobbying spending only by the Pharmaceutical Research and Manufacturers of America – the national association that represents the interests of drugmakers.

Note: 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.


Covid-19 testing is a financial windfall for hospitals and other providers
2021-05-10, CNN News
Posted: 2021-05-16 21:53:22
https://www.cnn.com/2021/05/10/health/covid-testing-financial-khn/index.html

Hospitals are charging up to $650 for a simple, molecular covid test that costs $50 or less to run, according to Medicare claims analyzed for KHN by Hospital Pricing Specialists (HPS). Charges by large health systems range from $20 to $1,419 per test, a new national survey by KFF shows. And some free-standing emergency rooms are charging more than $1,000 per test. The insurance company passes on its higher costs to consumers in higher premiums. Gargantuan volume – 400 million tests and counting, for one type – combined with loose rules on prices have made the service a bonanza for hospitals and clinics. Lab companies have been booking record profits by charging $100 per test. Even in-network prices negotiated and paid by insurance companies often run much more than that. In some cases, hospitals and clinics have supplemented revenue from covid tests with extra charges that go far beyond those for a simple swab. Warren Goldstein was surprised when Austin Emergency Center, in Texas, charged him and his wife $494 upfront for two covid tests. He was shocked when the center billed insurance $1,978 for his test, which he expected would cost $100. His insurer paid $325 for "emergency services" for him, even though there was no emergency. "It seemed like highway robbery," said Goldstein. A World Health Organization cost assessment of running 5,000 covid tests on Roche and Abbott analyzers ... came to $17 and $21 per test, respectively.

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.


Medicating Kids - Dr. Peter Breggin
2000-05-03, PBS
Posted: 2021-05-16 21:49:05
https://www.pbs.org/wgbh/pages/frontline/shows/medicating/interviews/breggin....

We're giving more and more psychiatric drugs to children. What medicine and psychiatry have done is to take essentially behavioral problems - problems of conflict between adults and children - and redefine them as medical problems. I believe that there is no scientific reason or justification for giving psychoactive agents to children. Take a healthy animal, like a chimpanzee, who wants to groom its neighbor, wants to play, socialize, wants to explore, and particularly would like to escape - that's a normal animal. If you give the animal a stimulant drug, it loses all its spontaneous behavior. And instead, obsessive narrow behavior is enforced. These drugs make good caged animals. Now, if you get all that same behavior in a child, if you crush a child's desire to socialize, to play, to escape, to be full of stuff like kids are, and instead you enforce a narrow obsessive focus, teachers will see this universally as improved behavior. Parents have also been lied to: flat-out lied to. They've been told that children have a neurobiological disorder. On what basis? Physicians and the public grabbed on to what is essentially a PR campaign ... that if you have a mental disturbance, it's biochemical. Now they run into problems. Because the next drug that comes along affects a different neurotransmitter, and then the next one affects a different neurotransmitter. And they're all working, because they all cause certain disabilities of the brain that some people experience as an improvement.

Note: Learn about Dr. Breggin's key role in stopping lobotomies and much more in this informative interview. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.


Wall Street's Cooked Books Fueled the Financial Crisis in 2008. It's Happening Again.
2021-04-20, The Intercept
Posted: 2021-05-10 17:39:36
https://theintercept.com/2021/04/20/wall-street-cmbs-dollar-general-ladder-ca...

It's only when the tide goes out that you learn who's been swimming naked," the billionaire investor Warren Buffett has famously said. During the crash of 2008, the whole world learned just how dangerously nude Wall Street was. Now it may be happening again – this time not with residential mortgage-backed securities, based on loans for homes, but commercial mortgage-backed securities, or CMBS, based on loans for businesses. John M. Griffin and Alex Priest are, respectively, a prominent professor of finance and a Ph.D. candidate at the McCombs School of Business at the University of Texas at Austin. In a study released last November, they sampled almost 40,000 CMBS loans with a market capitalization of $650 billion underwritten from the beginning of 2013 to the end of 2019. "Overall," they write, "actual net operating income falls short of underwritten income by 5% or more in 28% of loans." This was just the average, however: Some originators – including an unusual company called Ladder Capital as well as the Swiss bank UBS, Goldman Sachs, Citigroup, and Morgan Stanley – were significantly worse, "having more than 35% of their loans exhibiting 5% or greater income overstatement." With almost every lender, including Ladder, the overstatement increased as time went on. These income overstatements might cause defaults under any circumstances. But it has been particularly dangerous in a severe economic downturn like the one caused by the coronavirus pandemic.

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


Facebook survey asks users if they condone pedophilia
2018-03-05, New York Post
Posted: 2021-05-10 17:32:45
https://nypost.com/2018/03/05/facebook-survey-asks-users-if-they-condone-pedo...

Facebook is under fire for publishing a stomach-churning survey that asked users whether pedophiles should be allowed to solicit "sexual pictures" from underage girls. The cringeworthy poll surfaced at the top of Facebook's home page for an unspecified number of users this past weekend, according to a report. "In thinking about an ideal world where you could set Facebook's policies, how would you handle the following: a private message in which an adult man asks a 14-year-old girl for sexual pictures," one question in the survey reads. The disgusting multiple-choice poll gave users the option to condone the sick behavior, allowing them to vote that the "content should be allowed on Facebook, and I would not mind seeing it." Another possible, nausea-inducing response was that "the content should be allowed on Facebook, but I don't want to see it." The twisted survey was spotted by an editor at the Guardian, who published screenshots. Yet another ... question asked users who should decide whether pedophilic content was allowed on Facebook – users, Facebook and users, just Facebook or an outside entity. On Monday, the social networking giant headed by Mark Zuckerberg admitted that it was a "mistake" to publish the survey, which appeared to suggest that Facebook execs were openly debating whether to allow pedophiles on the site. "We run surveys to understand how the community thinks about how we set policies," Facebook vice president Guy Rosen said.

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


Pharmaceutical Industry Dispatches Army of Lobbyists to Block Generic COVID-19 Vaccines
2021-04-23, The Intercept
Posted: 2021-05-02 15:55:43
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.


Study reveals Americans pay four times more for medicine compared to wealthy countries
2021-04-28, The Independent (One of the UK's leading newspapers)
Posted: 2021-05-02 15:49:25
https://www.independent.co.uk/news/world/americas/us-politics/bernie-sanders-...

A government study commissioned by Senator Bernie Sanders has revealed that Americans pay two to four times more on prescription medicine compared to other wealthy countries. Analysis released by the Government Acountability Office (GAO) found that US consumers and insurers paid 2.82 times more than in Canada, 4.25 times more than in Australia, and 4.36 times more than in France for 20 brand-named prescription drugs in 2020. France and Australia both operate on a universal, publicly funded healthcare system, which can explain some of the discrepancy in prescription drug prices. Canada, similar to the United States, does not provide prescription drug coverage to all of its residents. But the analysis found that US residents typically paid two to eight times more than Canadians when paying for the same prescription drug. For example, 30 tablets of Xarelto, which treats blood clots, costs $558.33 in the US but just $85.44 in Canada. When purchasing 28 tablets of Epclusa to treat Hepatitis C, an infection that attacks the liver, it costs $36,743 in the US compared to $17,023.63 in Canada, according to the analysis. But Mr Biden's $1.8tn infrastructure plan ultimately left out popular progressive initiatives that would alter the healthcare system in America, including lowering the Medicare eligibility age and allowing the federal government to directly negotiate prescription drug prices. These policy ideas were both left out despite receiving overwhelming approval from the US public.

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


Rates of Parkinson's disease are exploding. A common chemical may be to blame
2021-04-07, The Guardian (One of the UK's leading newspapers)
Posted: 2021-04-25 22:14:51
https://www.theguardian.com/commentisfree/2021/apr/07/rates-of-parkinsons-dis...

Asked about the future of Parkinson's disease in the US, Dr Ray Dorsey says, "We're on the tip of a very, very large iceberg." Dorsey, a neurologist ... believes a Parkinson's epidemic is on the horizon. Parkinson's is already the fastest-growing neurological disorder in the world; in the US, the number of people with Parkinson's has increased 35% the last 10 years, says Dorsey, and "We think over the next 25 years it will double again." Researchers increasingly believe that one factor is environmental exposure to trichloroethylene (TCE), a chemical compound used in industrial degreasing, dry-cleaning and household products such as some shoe polishes and carpet cleaners. To date, the clearest evidence around the risk of TCE to human health is derived from workers who are exposed to the chemical in the work-place. A 2008 peer-reviewed study in the Annals of Neurology, for example, found that TCE is "a risk factor for parkinsonism." And a 2011 study echoed those results, finding "a six-fold increase in the risk of developing Parkinson's in individuals exposed in the workplace to trichloroethylene (TCE)." While some countries heavily regulate TCE (its use is banned in the EU without special authorization) the EPA estimates that 250m lb of the chemical are still used annually in the US. TCE is currently estimated to be present in about 30% of US groundwater. Using activated carbon filtration devices (like Brita filters) can help reduce TCE in drinking water.

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


CEOs of public U.S. firms earn 320 times as much as workers. Even some CEOS say the gap is too big.
2021-04-07, NBC News
Posted: 2021-04-18 15:03:53
https://www.nbcnews.com/business/corporations/ceos-public-u-s-firms-earn-320-...

Research Medical's owner, HCA Healthcare Inc., is a profitable, publicly traded network of 185 hospitals. Even in the year of Covid-19, 2020, the company generated $51.5 billion in revenue and increased its pretax earnings by 3.6 percent. That performance helped boost the total compensation HCA's chief executive, Samuel N. Hazen, received last year to $30.4 million, a 13 percent rise from 2019. The total worth of his compensation package equaled 556 times the compensation received by the median employee at HCA – $54,651. The figures highlight the growing CEO pay gap, a problem among many public companies according to some investors and workers and even a few CEOs. In 2019, for example, the average pay ratio among 350 large American companies was 320-to-1, according to research by the Economic Policy Institute. In 1989, the average was 61-to-1. Because [Jamelle] Brown, [an] emergency department worker, makes even less than the median, Hazen got roughly 1,000 times Brown's pay. Brown says he lives with his sister because he doesn't earn enough from his job at Research Medical to pay for his own apartment. HCA isn't alone in paying its chief executive vastly more than what rank-and-file workers earn. Acuity Brands, an industrial technology company, paid its CEO, Neil M. Ashe, $21 million last year, or 2,316 times the median employee's pay. Starbucks ... paid its CEO, Kevin Johnson, $14.7 million last year. That was 1,211 times the pay of its median employee.

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


At least 55 of America's biggest companies paid no federal taxes on billions in profits, study finds
2021-04-02, Chicago Tribune
Posted: 2021-04-12 13:28:27
https://www.chicagotribune.com/business/ct-aud-nw-nyt-companies-no-federal-ta...

Just as the Biden administration is pushing to raise taxes on corporations, a new study finds that at least 55 of America's largest firms paid no taxes last year on billions of dollars in profits. The sweeping tax bill passed in 2017 by a Republican Congress and signed into law by President Donald Trump reduced the corporate tax rate to 21% from 35%. But dozens of Fortune 500 companies were able to further shrink their tax bill – sometimes to zero – thanks to a range of legal deductions and exemptions that have become staples of the tax code. Salesforce, Archer-Daniels-Midland and Consolidated Edison were among those named in the report, which was done by the Institute on Taxation and Economic Policy. Twenty-six of the companies listed, including FedEx, Duke Energy and Nike, were able to avoid paying any federal income tax for the last three years even though they reported a combined income of $77 billion. Many also received millions of dollars in tax rebates. Publicly traded corporations are required to file financial reports. The institute used that data along with other information supplied by each company. The $2.2 trillion coronavirus relief act ... contained a provision that temporarily allowed businesses to use losses in 2020 to offset profits earned in previous years. Tax avoidance strategies include a mix of old standards and new innovations. Companies, for example, saved billions by allowing top executives to buy discounted stock options in the future and then deducting their value as a loss.

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


Plummeting sperm counts, shrinking penises: toxic chemicals threaten humanity
2021-03-18, The Guardian (One of the UK's leading newspapers)
Posted: 2021-04-06 02:16:47
https://www.theguardian.com/commentisfree/2021/mar/18/toxic-chemicals-health-...

The end of humankind? It may be coming sooner than we think, thanks to hormone-disrupting chemicals that are decimating fertility at an alarming rate around the globe. A new book called Countdown, by Shanna Swan, an environmental and reproductive epidemiologist ... finds that sperm counts have dropped almost 60% since 1973. Following the trajectory we are on, Swan's research suggests sperm counts could reach zero by 2045. Zero. Let that sink in. That would mean no babies. No reproduction. No more humans. Forgive me for asking: why isn't the UN calling an emergency meeting on this right now? The chemicals to blame for this crisis are found in everything from plastic containers and food wrapping, to waterproof clothes and fragrances in cleaning products, to soaps and shampoos, to electronics and carpeting. Some of them, called PFAS, are known as "forever chemicals", because they don't breakdown in the environment or the human body. They just accumulate and accumulate – doing more and more damage. Swan's book is staggering in its findings. "In some parts of the world, the average twentysomething woman today is less fertile than her grandmother was at 35," Swan writes. In addition to that, Swan finds that, on average, a man today will have half of the sperm his grandfather had. Given everything we know about these chemicals, why isn't more being done? Right now, there is a paltry patchwork of inadequate legislation responding to this threat.

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


Biden's Inner Circle Maintains Close Ties to Vaccine Makers, Disclosures Reveal
2021-03-24, The Intercept
Posted: 2021-04-06 02:14:34
https://theintercept.com/2021/03/24/covid-vaccine-stocks-biden-conflict/

In the coming months, Linda Thomas-Greenfield, President Joe Biden's ambassador to the United Nations, will hear from a growing chorus of developing nations about the foundering efforts to distribute the coronavirus vaccine globally. The nations, many of which have not even begun vaccinating their populations, are demanding that the U.S. support proposals to temporarily waive certain patent and intellectual property rights so that generic coronavirus vaccines can be produced. The proposals have been fiercely opposed by American drugmakers, including Pfizer. ASG ... represents Pfizer. Many leading figures in Biden's administration, including key White House advisers, State Department leaders, and health care officials have financial stake in or professional ties to vaccine manufacturers, which are now lobbying to prevent policies that would cut into future profits over the vaccine. ASG in particular has unusual amounts of sway in the Biden administration. State Department officials Victoria Nuland, Wendy Sherman, Uzra Zeya, and Molly Montgomery previously worked at ASG, as did Philip Gordon, Vice President Kamala Harris's national security adviser. The pharmaceutical industry, in a bid to shield an expected financial windfall, has pressed the Biden administration not only to oppose the waiver, but also to impose trade-related sanctions on countries that back [a] proposal or move to manufacture coronavirus vaccines without permission from patent holders.

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


Pfizer's Covid-19 vaccine is set to be one of the most lucrative drugs in the world
2021-02-02, Yahoo! News
Posted: 2021-04-06 02:11:21
https://finance.yahoo.com/news/pfizer-covid-19-vaccine-set-203223913.html

Pfizer expects to sell $15 billion worth of Covid-19 vaccines in 2021. That would make it the second-highest revenue-generating drug anytime, anywhere, according to industry reports. The maker of the first Covid-19 vaccine to be approved for use in advanced markets has released its earning forecasts for 2021 today. Pfizer expects to earn between $59 billion and $61 billion - up from $42 billion it made in 2020. Sales of the vaccine are set to bring in about a fourth of Pfizer's total revenue this year. That would be nearly as much as its three best-selling products combined. The company is expecting profit margins for the vaccine to be between 25% and 30% which means profits from the vaccine could be around $4 billion. All of Pfizer's costs and profits from the vaccine are split evenly with BioNTech, the biotech company that helped develop the treatment. There are is only one drug in the world that sells more - Humira, a prescription medication for arthritis. Pfizer plans on selling 2 billion doses of the vaccine this year, but that demand should subside in coming years so the revenue of Covid-19 vaccine won't be stable, Pfizer's CEO Albert Bourla said on an call with analysts and investors. The company expects to continue profiting from it by selling booster doses, including ones required to shield against new variants of the virus, Bourla said. Further, Pfizer is pursuing more avenues to employ the mRNA technology underlying the vaccine, including a flu vaccine and other therapeutic applications.

Note: Read more in this revealing Reuters article. 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.


AstraZeneca accused of cherry-picking vaccine study data
2021-03-23, ABC News
Posted: 2021-04-06 02:09:07
https://abcnews.go.com/Business/wireStory/us-astrazeneca-outdated-info-vaccin...

AstraZeneca may have included "outdated information" in touting the effectiveness of its COVID-19 vaccine in a U.S. study, federal health officials said Tuesday in an unusual public rift that could further erode confidence in the shot. In an extraordinary rebuke, just hours after AstraZeneca on Monday announced its vaccine worked well in the U.S. study, an independent panel that oversees the study scolded the company for cherry-picking data, according to a senior administration official. The panel wrote to AstraZeneca and U.S. health leaders that it was concerned the company chose to use data that was outdated and potentially misleading instead of the most recent and complete findings. The NIH's Dr. Anthony Fauci told ABC's "Good Morning America" that the incident "really is what you call an unforced error" and that he expects the discrepancy to be straightened out. But that nitty-gritty seldom is seen by the public, something now exposed by the extraordinary microscope being applied to development of the world's COVID-19 vaccines. The vaccine is used widely in Britain, across the European continent and in other countries, but its rollout was troubled by inconsistent study reports about its effectiveness, and then last week a scare about blood clots that had some countries temporarily pausing inoculations. Company executives refused repeated requests from reporters to provide a breakdown of the 141 COVID-19 cases it was using to make the case for the shot's effectiveness.

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