Hope2012


Corporate Corruption News

Top 100 Private Contractors in U.S. Wars (BoingBoing)

Burger King screws tomato pickers, who spend all day hauling about 4,000 pounds of tomatoes for minimum wage, over an extra penny a bucket. (NYTimes 11/29/07)

EXCERPT: “Telling Burger King to pay an extra penny for tomatoes and provide a decent wage to migrant workers would hardly bankrupt the company. Indeed, it would cost Burger King only $250,000 a year. At Goldman Sachs, that sort of money shouldn’t be too hard to find. In 2006, the bonuses of the top 12 Goldman Sachs executives exceeded $200 million — more than twice as much money as all of the roughly 10,000 tomato pickers in southern Florida earned that year.

Burger King is controlled by Bain Capital, the Texas Pacific Group and Goldman Sachs Capital Partners ; Bain Capital was founded by Mitt Romney.  More on the ‘negotiations’ here and here 

Tamiflu and Relenza treat flu, but may cause ‘psychiatric events’ (Consumerist 11/29/07)

 

497 cosmetic products contain ingredients banned in other countries (Environmental Working Group)

Including products from Alcon, Bausch & Lomb, Colgate, Crest, Mentadent, Ogilvie, Oral-B, Rembrandt, Visine, Elizabeth Arden, Cover Girl, Dr. Scholl’s, L’Oreal, Maybelline, Sally Hansen, and more  

DynCorp and other contractors in Afghanistan do not have to actually prove purchases occurred (TPMuckraker 12/26/07)

 

Conrad Black, former newspaper mogul, sentenced to six years in prison on fraud and obstruction charges (NYTimes 12/11/07)

EXCERPT: “In July, nearly four years after the case began, Mr. Black was convicted on four charges — three fraud charges stemming from taking improper noncompete fees and an obstruction of justice charge for removing boxes of documents from his Toronto office, an infraction that was caught on videotape. Mr. Black will have to pay a fine of $125,000.

Mr. Black’s downfall began in November 2003 when the board found that he and other executives had improperly taken about $32 million in payments. The jury, however, found that Black improperly gained $6.1 million, a figure he must now forfeit. Much of the case was centered on noncompete payments from selling newspapers that should have gone to shareholders but instead lined the pockets of Mr. Black and several other executives, who were to be sentenced later in the afternoon.

Mr. Black, who once declared he would “not re-enact the French Revolutionary renunciation of the rights of the nobility” when criticized for using shareholder money to pay for a vacation to Bora Bora, and charged a lavish birthday party for his wife at La Grenouille restaurant in New York to his company, was acquitted of charges stemming from those incidents.”

Another batch of corporate conspirators get away (Washington Post 7/17/07)

EXCERPT: “A federal judge tossed out indictments against 13 former KPMG executives yesterday in the government’s largest criminal tax-fraud case ever, citing “intolerable” prosecutorial abuses that deprived the officials of their constitutional right to a defense.

    The decision, by U.S. District Judge Lewis A. Kaplan, is a strong rebuke of federal prosecutors who exerted intense pressure on the giant accounting firm to stop paying legal bills for employees who refused to cooperate with the investigation.  The sanction, which Kaplan called “drastic,” averts a trial focused on whether the former KPMG executives knowingly helped wealthy clients avoid $2.5 billion in tax liabilities by selling them unlawful tax shelters.”

Tech Industry well represented in Corporate Fraud Hall of Shame (Network World 7/17/07)

Related:

1/28/08: Forget Oil, Food is the New Global Crisis

1/28/08: Economic News Roundup

1/28/08: Economy: Currency Wars

1/26/08: Alternatives to Corporate Power and Misc Corporate News

1/22/08: Top Corporate Business News

1/22/08: Corporate Lawsuits, Settlements and Corruption Update

1/11/08: Corporate Corruption News

12/4/07: $9 Trillion in debt, $1 homes 94% foreclosure increase & more

11/13/07: Economic Canary: News and Analysis

11/10/07: Economic News Round up

11/1/07: Even more corporate crimes and misdemeanors

10/18/07: Corporate State of America

9/18/07: Economic News Round up

8/8/07: Economic News: Have We Crashed Yet?

7/15/07: US and International Economic News

6/30/07: The Economy is just the Canary

6/23/07: News on the Economy

6/14/07: US Economy on the Downslide

Advertisements

2 Comments so far
Leave a comment

[…] 1/11/08: Corporate Corruption News […]

Pingback by Corporate Lawsuits, Settlements, and Corruption Update « Hope2012

[…] Did you like this brief introduction? Find out about it in full detail here. […]

Pingback by Business » Corporate Corruption News Hope2012




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: