- Site menu:
- Latest Discussions
- Latest Newswire
- Archives
- Submit Story
- Story HOWTO
- Syndicate
- E-mail Alerts
Bill & M. Gates foundation for-profit investments harm the health & environment of the poor
The worst part is, the foundation invested in Eni, a company who owns a chemical plant in Africa that seems to cause bronchitis on a large scale, and they invested in a company called Kaletra, which sells second-line drugs against AIDS for a price that the people in Africa can't afford. The foundation never asked one of the two companies to change their behavior in Africa. Using the most recent data available, a Times tally showed that hundreds of Gates Foundation investments — totaling at least $8.7 billion, or 41% of its assets, not including U.S. and foreign government securities — have been in companies that countered the foundation's charitable goals or socially concerned philosophy.Bill Gates responded "his foundation should concentrate on grant giving, rather than judging the social impact of businesses in which it invests". Also interesting is, Warren Buffet gave some of his fortune to the foundation, and the foundation has in turn invested more than a billion dollars in Berkshire Hathaway, the investment company of Warren Buffet. Also, it lend money to the Canadian, German, Japanese and French government, and invested in BP and ExxonMobile. Little amounts of money are invested in other polluting companies. Speaking for myself, after reading this, it's hard to see the foundation as a 100% charitable organization. But, you can decide for yourself reading the links below. Links: Copied from Sourcewatch.org
 copied from Sourcewatch.org. |
|
|
Comments (21)
"Philanthropic" Bill
Gates & Co. don't seem to mind how their foundation money is made. Also, don't forget how Bill made his original pile (and continues to do so) from an illegal monopoly.
> from an illegal monopoly
Unfortunately, they haven't been able to make that one stick. Never the less, it's intresting to follow the career of Gates from a psudo geek rich kid with a mommy on the board of IBM through all of his shady business dealings, and, how he came to be the mob leader that he is today.
Unfortunately, they haven't been able to make that one stick. Never the less, it's intresting to follow the career of Gates from a psudo geek rich kid with a mommy on the board of IBM through all of his shady business dealings, and, how he came to be the mob leader that he is today.
And Dad is boss of the sharkiest, meanest law firms in town.
And wife is in the board of the Washington post.
This is business as usual in the USA and many other places - unfettered capitalism, other than 'incentives' for the already rich. We USA citizens also invest with our tax dollars - and where does that go? We can appropriately criticize the Borg, but we need to look inward as well. It's not simple, nor should we not try to improve.
Richard
Richard
> we need to look inward as well. It's not simple, nor should we not try to improve.
Would you elaborate on that a bit? I'm not clear on how looking inward will turn BillG into less of an asshat, or turn our legislatures less corruptible. Those fine folks who are addicted to money and power make it their life's work- it's what they're into, and they love it. Us normal people just want to live our lives and not be bothered. It takes a lot of time and energy to have any meaningful impact on the big issues, and it gets rather discouraging at times.
Would you elaborate on that a bit? I'm not clear on how looking inward will turn BillG into less of an asshat, or turn our legislatures less corruptible. Those fine folks who are addicted to money and power make it their life's work- it's what they're into, and they love it. Us normal people just want to live our lives and not be bothered. It takes a lot of time and energy to have any meaningful impact on the big issues, and it gets rather discouraging at times.
> Us normal people just want to live our lives and not be bothered. It takes a lot of time and energy to have any meaningful impact on the big issues, and it gets rather discouraging at times.
Coming from the 60's generation, I'm very much aware that young-uns all want to right all the wrongs in the world. Truth is that 'if you really, really work at it' you 'just might' manage to make an impact on one major issue. That may or may not give you time to live that 'normal life'.
Coming from the 60's generation, I'm very much aware that young-uns all want to right all the wrongs in the world. Truth is that 'if you really, really work at it' you 'just might' manage to make an impact on one major issue. That may or may not give you time to live that 'normal life'.
Elaboration requested by Tuxchick
Tuxchick asks: "Would you elaborate on that a bit? I'm not clear on how looking inward will turn BillG into less of an asshat, or turn our legislatures less corruptible."
The problem the Borg exemplifies is endemic in our society. You're likely doing the sort of M$ resistance I do. I use no M$ products and haven't for probably 10 years. I try to move people toward GNU/Linux.
'Looking inward' was meant to suggest that we invest our very own personal tax dollars much the way philanthropic Bill does. Those dollars support things we may abhor. This is a dilemma for me. I write my senators, my congressmen, but haven't been brave enough to withhold my tax dollars. For me 'looking inward' will remain disappointing until I become braver.
Richard
Tuxchick asks: "Would you elaborate on that a bit? I'm not clear on how looking inward will turn BillG into less of an asshat, or turn our legislatures less corruptible."
The problem the Borg exemplifies is endemic in our society. You're likely doing the sort of M$ resistance I do. I use no M$ products and haven't for probably 10 years. I try to move people toward GNU/Linux.
'Looking inward' was meant to suggest that we invest our very own personal tax dollars much the way philanthropic Bill does. Those dollars support things we may abhor. This is a dilemma for me. I write my senators, my congressmen, but haven't been brave enough to withhold my tax dollars. For me 'looking inward' will remain disappointing until I become braver.
Richard
> I write my senators, my congressmen
Most of us do that on a regular basis. not that they listen well :(
> haven't been brave enough to withhold my tax dollars.
Yeah Richard, most of us try to avoid Federal prison. Not sure I consider that exactly cowardly.
Most of us do that on a regular basis. not that they listen well :(
> haven't been brave enough to withhold my tax dollars.
Yeah Richard, most of us try to avoid Federal prison. Not sure I consider that exactly cowardly.
I'm know whether it's brave or cowardly. It's just that I consider a long-term relationship with "Big Bubba" to be pretty low on my list of priorities. What's a few bucks if it keeps Uncle Sam happy and me out of Bubba's cell? I call it a pretty sound investment. ;-)
> Yeah Richard, most of us try to avoid Federal prison.
Well, there are legal ways to minimize your taxable income. Things such as IRA's, 401K's, 529's, etc. are readily available to pretty much everyone. A good tax lawyer would probably be your best option for pursuing anything beyond that.
Well, there are legal ways to minimize your taxable income. Things such as IRA's, 401K's, 529's, etc. are readily available to pretty much everyone. A good tax lawyer would probably be your best option for pursuing anything beyond that.
glad this is getting more exposure
I first heard about this story by watching Democracy Now. I'm really glad to see that it's getting some more exposure.
Yes, this needs to get as much exposure as possible. Great job Hans.
The Gates Foundation Buys Media
Some more food for thought...
Gates sold 100,000 Univision shares-SEC filing
,----[ Quote ] | The foundation said it sold its remaining stake in Univision, | which is in the process of being acquired by private investors, | for an average of $35.34 per share in open market transactions. `----
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn... http://tinyurl.com/yll88p
Bill Gates lends cash to buy newspapers
$350 million to MediaNews
,----[ Quote ] | Gates involvement has been very behind the scenes. In fact many of | those involved in the deal didn'teven know he was one of the investors. | It was carried out through the Gates Foundation, the world's largest | philanthropy outfit. `----
http://www.theinquirer.net/default.aspx?article=33849
,----[ Quote ] | My background is finance and accounting.... | | However, the Gates Buffet foundation grant is nothing more than a shell | game in which control of assets for both Gates and Buffet remain the same. | | THE ONLY DIFFERENCE IS THAT THE ACCUMULATION OF WEALTH BY THESE TWO WILL BE | MUCH MORE MASSIVE BECAUSE THEY WILL NO LONGER HAVE TO PAY ANY TAXES. `----
http://www.mail-archive.com/futurew...@fes.uwaterloo.ca/msg0...
Gates sold 100,000 Univision shares-SEC filing
,----[ Quote ] | The foundation said it sold its remaining stake in Univision, | which is in the process of being acquired by private investors, | for an average of $35.34 per share in open market transactions. `----
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn... http://tinyurl.com/yll88p
Bill Gates lends cash to buy newspapers
$350 million to MediaNews
,----[ Quote ] | Gates involvement has been very behind the scenes. In fact many of | those involved in the deal didn'teven know he was one of the investors. | It was carried out through the Gates Foundation, the world's largest | philanthropy outfit. `----
http://www.theinquirer.net/default.aspx?article=33849
,----[ Quote ] | My background is finance and accounting.... | | However, the Gates Buffet foundation grant is nothing more than a shell | game in which control of assets for both Gates and Buffet remain the same. | | THE ONLY DIFFERENCE IS THAT THE ACCUMULATION OF WEALTH BY THESE TWO WILL BE | MUCH MORE MASSIVE BECAUSE THEY WILL NO LONGER HAVE TO PAY ANY TAXES. `----
http://www.mail-archive.com/futurew...@fes.uwaterloo.ca/msg0...
Quoting:The Gates Foundation Buys Media
Well, they haven't bought me or LXer yet, but pay attention, if you see me driving in a Ferrari and saying Vista is freedom, you know what happened.
wah, no one ever tries to buy me. No fair.
> if you see me driving in a Ferrari
Make sure you get maintenance, gas, and insurance with that package :D.
Make sure you get maintenance, gas, and insurance with that package :D.
> wah, no one ever tries to buy me. No fair.
I've got $11.32. Would that do?
I've got $11.32. Would that do?
> I've got $11.32. Would that do?
A prime example of why MS can sucessfully bribe folks, and Linux can't :D
A prime example of why MS can sucessfully bribe folks, and Linux can't :D
No duh!
> A prime example of why MS can sucessfully bribe folks, and Linux can't :D
Well, obviously I forgot the smiley, but all too true. :(
Well, obviously I forgot the smiley, but all too true. :(
Post a comment
A free account is needed to post. Write your comment here first: your text is kept in this browser while you sign up or log in, and is waiting for you when you come back.
Your message:Markdown: **bold**, *italic*, [text](https://link), - lists, > quotes, $x^2$ for math. Formatting help
Sign up and post (it is free) or Log in and post