Corporate Corruption Media Articles

Excerpts of Key Corporate Corruption Media Articles in Major Media

Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

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

When the drug industry came under fire last summer for failing to disclose poor results from studies of antidepressants, major drug makers promised to provide more information about their research on new medicines. But nearly a year later, crucial facts about many clinical trials remain hidden. Eli Lilly and some other companies have posted hundreds of trial results on the Web and pledged to disclose all results for all drugs they sell. But other drug makers, including Merck and Pfizer, release less information and are reluctant to add more, citing competitive pressures. As a result, doctors and patients lack critical information about important drugs ... and the companies can hide negative trial results by refusing to publish studies, or by cherry-picking and highlighting the most favorable data. GlaxoSmithKline agreed to pay $2.5 million to settle a suit ... alleging that Glaxo had hidden results from trials showing that its antidepressant Paxil might increase suicidal thoughts in children and teenagers. Federal laws require the disclosure of all trials and trial results to the F.D.A. But companies are not required to disclose trial results to scientists or the public. Under pressure from the editors of medical journals, the major drug companies in January agreed to expand the number of trials registered on clinicaltrials.gov. Three companies have filed only vague descriptions of many studies, often failing even to name the drugs under investigation. For example, Merck describes one trial as a "one-year study of an investigational drug in obese patients."

Rats fed on a diet rich in genetically modified corn developed abnormalities to internal organs and changes to their blood, raising fears that human health could be affected by eating GM food. Details of secret research carried out by Monsanto, the GM food giant...shows that rats fed the modified corn had smaller kidneys and variations in the composition of their blood. According to the confidential 1,139-page report, these health problems were absent from another batch of rodents fed non-GM food. Although Monsanto last night dismissed the abnormalities in rats as meaningless and due to chance...a senior British government source said ministers were so worried by the findings that they had called for further information. The full details of the rat research are included in the main report, which Monsanto refuses to release on the grounds that "it contains confidential business information which could be of commercial use to our competitors".

Note: For lots more reliable, verifiable information on this vital topic, see our summary of Seeds of Deception.

Carmakers such as Toyota and Honda can't seem to make hybrid vehicles fast enough to keep up with public interest. Interest in this new technology is growing, and one group is highlighting these technical marvels in a yearly event called the Tour de Sol. Top prize for the Monte-Carlo Rally went to a modified Honda Insight driven by Brian Hardegen, of Pepperell, who broke the 100-mile-per-gallon barrier over a 150-mile range. The car actually got 107 miles-per gallon. St. Mark's High School in Southboro, and North Haven Community School, North Haven, ME, demonstrated true zero-oil consumption and true zero climate-change emissions with their modified electric Ford pick-up and Volkswagen bus. More than 60 hybrid, electric and biofueled vehicles from throughout the US and Canada demonstrated that we have the technology today to power our transportation system with zero-oil consumption and zero climate-change emissions.

Note: If the above link fails, click here. If high school students can do it, why aren't the car companies seriously developing these technologies? And why are car manufacturers not able to keep up with demand on hybrid vehicles? For more, click here.

Merck & Co.'s longtime leader Raymond V. Gilmartin abruptly resigned yesterday on the same day congressional investigators released a slew of documents detailing how the company continued to aggressively promote its arthritis drug Vioxx after it knew of potentially serious safety concerns. The documents...showed that Merck directed its 3,000-person Vioxx sales force to avoid discussions with doctors about the cardiovascular risks identified in a major clinical trial of the drug in 2000. Sales representatives were told instead to rely on a "Cardiovascular Card" that said Vioxx was protecting the heart rather than potentially harming it. They were [also] trained how to smile, speak and position themselves most effectively when talking with doctors, and were exhorted to sell Vioxx and other Merck drugs using the Rev. Martin Luther King Jr.'s "I Have a Dream" speech. Vioxx was withdrawn from the market last September after another clinical trial found that people who had taken the drug for 18 months were five times more likely to have heart attacks and strokes than those on a placebo. Merck was sharply criticized in a hearing into how the company and the Food and Drug Administration had handled the safety concerns surrounding Vioxx.

Note: The following is the New York Times website's abstract of this article, which is a very good summary.

2003 Medicare bill is object lesson in how special interests hold America's health care system hostage; says law subsidizes private health plans, which have repeatedly failed to deliver promised cost savings, and creates unnecessary layer of middlemen by requiring that drug benefit be administered by private insurers; says it specifically prohibits Medicare from using its purchasing power to negotiate lower drug prices; notes that Rep Billy Tauzin, who shepherded drug bill through Congress, now heads all-powerful drug-industry lobbying group, and Thomas Scully, former Medicare administrator, negotiated for future health industry lobbying job at same time he was pushing drug bill; calls Medicare bill corrupt deal created by corrupt system.

They're tax havens: 70 mostly tiny nations that offer no-tax or low-tax status to the wealthy so they can stash their money. Usually, the process is so secret that it draws little attention. But the sums - and lost tax revenues - are growing so large that the havens are getting new and unaccustomed scrutiny. There are about 3 million shell companies (set up largely to duck taxes) in offshore tax havens, Komisar reckons. These tiny tax havens hold 31 percent of total world assets and 26 percent of the stock of US multinationals.

ENRON: The Smartest Guys in the Room [is] the inside story of one of history’s greatest business scandals, in which top executives of America’s seventh largest company walked away with over one billion dollars while investors and employees lost everything. Based on the best-selling book ... this tale of greed, hubris and betrayal reveals the outrageous personal excesses of the Enron hierarchy and the moral vacuum that led CEO Ken Lay - along with other players including accounting firm Arthur Andersen, Chief Operating Officer Jeffrey Skilling and Chief Financial Officer Andy Fastow - to manipulate securities trading, bluff the balance sheets and deceive investors. By 2000, the company has grown into the largest natural gas merchant in North America, eventually branching out into trading other commodities. Jeff Skilling is named CEO, and the company stock skyrockets. Meanwhile, Skilling’s “black box” accounting results in declared earnings of 53 million dollars for a collapsing deal that doesn’t profit a cent. And Enron’s West Coast power desk has its most profitable month ever as California citizens become casualties of Enron’s scheme to artificially increase demand for electricity, resulting in rolling blackouts and two deaths. When Enron’s sleight of hand accounting and unethical trading eventually meet the realities of balance sheets that don’t balance and products that don’t exist, unwitting employees who have anchored their financial futures to the Enron ship watch in horror as water rushes in overhead.

Note: Watch this revealing documentary on this webpage. Enron was American's seventh-largest public company and controlled 25 percent of the nation's energy before it failed in 2002. Its stock plummeted from $90 a share to 9 cents a share in a matter of months after fraud was uncovered. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

When the Environmental Protection Agency unveiled a rule last week to limit mercury emissions from U.S. power plants, officials emphasized that the controls could not be more aggressive because the cost to industry already far exceeded the public health payoff. What they did not reveal is that a Harvard University study paid for by the EPA, co-authored by an EPA scientist and peer-reviewed by two other EPA scientists had reached the opposite conclusion. That analysis estimated health benefits 100 times as great as the EPA did, but top agency officials ordered the finding stripped from public documents.

The House of Representatives this month passed the National Uniformity for Foods Act, a measure that would kill or cancel significant parts of 200 food-safety laws in 50 states. This ill-advised bill, supported by millions of food-industry dollars, passed without a single hearing. Now it's in the hands of the Senate. If it passes there, among its many victims would be California's requirement that foods containing harmful chemicals display a warning for consumers. Those warnings are mandated by Proposition 65, enacted...by an overwhelming majority of voters in 1986. In passing the measure, Californians wanted to encourage manufacturers to remove dangerous substances from their products before they reached supermarket shelves. Proposition 65's requirement that companies either warn consumers or remove harmful chemicals works, and it remains a vital protection. The clear lesson is that states often do more to protect consumers than do federal regulators. So why is Congress even considering passing a bill denying California and other states the right to protect citizens? Follow the money. All told, food companies have forked over $5.2 million to the bill's 226 co-sponsors.

The Bush administration made plans for war and for Iraq's oil before the 9/11 attacks, sparking a policy battle between neo-cons and Big Oil. Two years ago today - when President George Bush announced US, British and Allied forces would begin to bomb Baghdad - protesters claimed the US had a secret plan for Iraq's oil once Saddam had been conquered. In fact there were two conflicting plans, setting off a hidden policy war between neo-conservatives at the Pentagon, on one side, versus a combination of "Big Oil" executives and US State Department "pragmatists". "Big Oil" appears to have won. The latest plan [was] drafted with the help of American oil industry consultants. Insiders told Newsnight that planning began "within weeks" of Bush's first taking office in 2001, long before the September 11th attack on the US. The industry-favoured plan was pushed aside by a secret plan, drafted just before the invasion in 2003, which called for the sell-off of all of Iraq's oil fields. The new plan was crafted by neo-conservatives intent on using Iraq's oil to destroy the Opec cartel. Philip Carroll, the former CEO of Shell Oil USA who took control of Iraq's oil production for the US Government a month after the invasion, stalled the sell-off scheme. Mr Carroll told us he made it clear to Paul Bremer, the US occupation chief who arrived in Iraq in May 2003, that: "There was to be no privatisation of Iraqi oil resources or facilities while I was involved." Formerly US Secretary of State, [James] Baker is now an attorney representing Exxon-Mobil and the Saudi Arabian government.

What's at stake, they say, is no less than the future of automotive technology, a practical solution for driving fast and fun with no direct pollution whatsoever. GM agrees that the car in question, called the EV1, was a rousing feat of engineering that could go from zero to 60 miles per hour in under eight seconds with no harmful emissions. The market just wasn't big enough, the company says, for a car that traveled 140 miles or less on a charge before you had to plug it in like a toaster. Some 800 drivers once leased EV1s, mostly in California. After the last lease ran out in August, GM reclaimed every one of the cars, donating a few to universities and car museums but crushing many of the rest. Enthusiasts discovered a stash of about 77 surviving EV1s behind a GM training center in Burbank and last month decided to take a stand. Mobilized through Internet sites and word of mouth, nearly 100 people pledged $24,000 each for a chance to buy the cars from GM. On Feb. 16 the group set up a street-side outpost of folding chairs that they have staffed ever since in rotating shifts, through long nights and torrential rains, trying to draw attention to their cause. GM refuses to budge. Toyota is aware of a growing fad among do-it-yourselfers who put a new battery in their Prius so it can be plugged in at home and then travel about 20 miles on electric power alone.

Note: Why would GM simply crush cars for which people are willing to pay $24,000? For a possible answer to this important question, click here. To learn how to convert a Toyota Prius to get 100 mpg, click here.

Merck & Co. continued to supply infant vaccine containing a mercury preservative for two years after declaring that it had eliminated the chemical. Thimerosal, which is nearly 50 percent ethyl mercury, has largely been eliminated from most routine childhood vaccines, although it is present in most flu shots. More than 4,200 parents have filed claims in the federal Vaccine Injury Compensation Program, alleging that their children suffered autism or other neurological disorders from mercury in their shots.

in January, Halliburton won a contract to drill at a huge Iranian gas field called Pars, which an Iranian government spokesman said "served the interests" of Iran. "I am baffled that any American company would want to have employees operating in Iran," says Sen. Susan Collins, R-Maine. "I would think they'd be ashamed." Halliburton says the operation — videotaped by NBC News — is entirely legal. It's run by a subsidiary called "Halliburton Products and Services Limited," based outside the U.S. In fact, the law allows foreign subsidiaries of U.S. corporations to do business in Iran under strict conditions. Other U.S. oil services companies, like Weatherford and Baker Hughes, also are in Iran. And foreign subsidiaries of NBC's parent company, General Electric, have sold equipment to Iran. For Halliburton to have done this legally, the foreign subsidiary operating in Iran must be independent of the main operation in Texas. Yet, when an NBC producer approached managers in Iran, he was sent to company officials in Dubai. But they said only Halliburton headquarters in Houston could talk about operations in Iran.

Laurie Garrett, the prize-winning Newsday reporter, left the Melville, N.Y., paper Monday with a blistering memo to her colleagues that may provoke debate elsewhere in the newspaper industry. "The leaders of Times Mirror and Tribune have proven to be mirrors of a general trend in the media world: They serve their stockholders first, Wall St. second and somewhere far down the list comes service to newspaper readerships.” Garrett won a Pulitzer Prize in 1996 for her reporting on Ebola. She’s also won a Polk Award and a Peabody and was finalist for another Pulitzer in 1998. “The deterioration we experienced at Newsday was hardly unique," she wrote.. "All across America news organizations have been devoured by massive corporations, and allegiance to stockholders, the drive for higher share prices, and push for larger dividend returns trumps everything that the grunts in the newsrooms consider their missions. Honesty and tenacity ... seem to have taken backseats to the sort of 'snappy news', sensationalism, scandal-for-the-sake of scandal crap that sells. Profits: that's what it's all about now. This is terrible for democracy. I can attest to the horrible impact the deterioration of journalism has had on the national psyche. But giving up is not an option. There is too much at stake. Now is the time to think in imaginative ways. Opportunities for quality journalism are still there, though you may need to scratch new surfaces, open locked doors and nudge a few reticent editors to find them. Your readers desperately need for you to try, over and over again, to tell the stories, dig the dirt and bring them the news."

Note: If above link fails, click here.

In the midst of the California energy troubles in early 2001, when power plants were under a federal order to deliver a full output of electricity, the Enron Corporation arranged to take a plant off-line on the same day that California was hit by rolling blackouts, according to audiotapes of company traders. The tapes and memorandums were made public by a small public utility north of Seattle that is fighting Enron over a power contract. They also showed that Enron, as early as 1998, was creating artificial energy shortages and running up prices in Canada in advance of California's larger experiment with deregulation. The tapes provide new details of market manipulation during the California energy crisis that produced blackouts and billions of dollars of surcharges to homes and businesses on the West Coast in 2000 and 2001. In one January 2001 telephone tape of an Enron trader the public utility identified as Bill Williams and a Las Vegas energy official identified only as Rich, an agreement was made to shut down a power plant providing energy to California. The shutdown was set for an afternoon of peak energy demand. The next day, Jan. 17, 2001, as the plant was taken out of service, the State of California called a power emergency, and rolling blackouts hit up to a half-million consumers, according to daily logs of the western power grid. Officials with the Snohomish County Public Utility District in Washington State, which released the tapes, said they believed Enron officials had taken similar measures with other power plants. This tape, they said, was proof of what was going on.

Note: For many key reports from reliable sources on corporate corruption, click here.

During the West Coast Power crisis homes went dark and streetlights were out ... causing injuries and accidents. But the danger didn't stop Enron's energy traders from having a good laugh. CBS ... reports on the Enron scheme, as caught on new audio tape. The traders and plant operator laugh and plot in a display that seems to prove the theory that years before the energy crisis, Enron manipulated markets. "They had to do a rolling blackout through the town and there was a red light there he didn't see," one Enron trader says on tape. "That's beautiful," a second voice responds. Enron secretly shut power plants down so they could cause, and then cash in on, the crisis. Enron also pulled power out of states like California, causing emergency conditions to worsen. "Sorry California," an Enron trader says. "I'm bringing all our power out of state today." Plant operators were coached on how to lie to officials. "We want you guys to get a little creative..." one voice says on the tape, "and come up with a reason to go down. Just call 'em, Hey guys…we're coming down." The plant operator replies, "OK, so we're just comin' down for some maintenance?" "Right," the trader says. "And that's cool?" the plant operator asks. "Hopefully," the trader responds, to which the men are heard laughing. Enron also pulled power out of states like California, causing emergency conditions to worsen. The "shut downs" and "pull outs" triggered sky high power prices. "We're just making money hand over fist!" one voice is heard saying on the tape. And when states complained, the guys at Enron seemed to have a response. "Get a f****** clue," one says. "Yeah," another chimes in. "Leave us alone. Let us make a little bit of money."

Note: For an eye-opening two-minute video clip on CBS, watch "Enron Schemers on Tape" at this link. MSNBC also published a revealing article on this. And a New York Times article states "Company officials had long denied that they illegally shut down plants to create artificial shortages. Two months after the recording showed how the Nevada plant was shut down, [Enron CEO Kenneth] Lay called any claims of market manipulation 'conspiracy theories.'" For lots more reliable information on the energy cover-up, click here.

Global food companies are aggravating poverty in developing countries by dominating markets, buying up seed firms and forcing down prices for staple goods including tea, coffee, milk, bananas and wheat, according to a report to be launched today. Two companies dominate sales of half the world's bananas, three trade 85% of the world's tea, and one, Wal-mart, now controls 40% of Mexico's retail food sector. It also found that Monsanto controls 91% of the global GM seed market.

More than 50 years after DuPont started producing Teflon ... federal officials are accusing the company of hiding information suggesting that [the chemical] might cause cancer, birth defects and other ailments. Environmental regulators are particularly alarmed because scientists are finding perfluorooctanoic acid, or PFOA, in the blood of people worldwide and it takes years for the chemical to leave the body. The U.S. Environmental Protection Agency reported last week that exposure even to low levels of PFOA could be harmful. With virtually no government oversight, PFOA has been used since the early 1950s. Questions about potential effects on human health and the environment often aren't raised until years after a chemical is introduced to the marketplace. The long and mostly secret history of PFOA began to unravel down the road from DuPont's Teflon plant...where a Parkersburg family began asking questions in the late 1990s about a mysterious wasting disease killing their cattle. Their lawsuit ended with a monetary settlement ... but the legal battle uncovered a trove of industry documents about PFOA. One document detailed how DuPont scientists started warning company executives to avoid human contact with PFOA as early as 1961. Industry tests later determined the chemical accumulates in the body [and] doesn't break down in the environment. Tests on lab animals have found links to illnesses including liver and testicular cancer, reduced weight of newborns and immune-system suppression. The findings concern EPA officials because rats flush the chemical out of their bodies within days, while PFOA stays in human blood for at least four years.

Note: As this article is no longer available on the Chicago Tribune website, to read it in full, click here.

Joyce Ann Hafford died without ever holding the son she had tried to save from contracting AIDS by taking an experimental drug regimen administered by government-funded researchers during her pregnancy. But even before her stunned family could grieve, the 33-year-old's death was reverberating among the government's top scientists in Washington. They quickly realized the drugs the HIV-positive woman from Memphis, Tenn., was taking likely caused the liver failure that killed her. Hafford's family members say they were never told NIH had concluded that the experimental drug regimen likely caused her death until the Associated Press gave them copies of NIH's internal case documents this month. They were left to believe Hafford had died from AIDS complications. "They tried to make it sound like she was just sick. They never connected it to the drug," said Rubbie King, Hafford's sister. NIH officials acknowledge that experimental drugs, most likely nevirapine, caused her death. The study during which Hafford died recently led researchers to conclude that nevirapine poses risks when taken over time by certain pregnant women. The family says Hafford seemed unaware of the liver risks. They even kept the bottle of nevirapine showing it had no safety warnings.

Note: If you want to understand just how corrupt and deceitful medical research doctors can be, read the stunning article on this case at this link. This article mentions the little-known fact that "a majority of HIV-positive tests, when retested, come back indeterminate or negative. In many cases, different results emerge from the same blood tested in different labs."

Lockheed Martin doesn't run the United States. But it does help run a breathtakingly big part of it. Lockheed ... has built a formidable information-technology empire that now stretches from the Pentagon to the post office. It sorts your mail and totals your taxes. It cuts Social Security checks and counts the United States census. It runs space flights and monitors air traffic. Lockheed ... is best known for its weapons. But in the post-9/11 world, Lockheed has become more than just the biggest corporate cog in what Dwight D. Eisenhower called the military-industrial complex. It is increasingly putting its stamp on the nation's military policies. Former Lockheed executives, lobbyists and lawyers hold crucial posts at the White House and the Pentagon, picking weapons and setting policies. War and crisis have been good for business. The company's stock has tripled in the last four years. Lockheed is creating robot soldiers and neural software - "intelligent agents" - to do their work. Israel spends much of the $1.8 billion in annual military aid from the United States to buy F-16 warplanes from Lockheed. Its own executives say the concentration of power among military contractors is more intense than in any other sector of business outside banking. AND, after 9/11 ... cost is essentially irrelevant. Former Lockheed executives serve on the Defense Policy Board ... and the Homeland Security Advisory Council, which help make military and intelligence policy and pick weapons for future battles. Lockheed's board includes E. C. Aldridge Jr. ... the Pentagon's chief weapons buyer.

Note: If the above link fails, click here. To say that "war and crisis have been good for business" is quite an understatement. To read what one of the most highly decorated generals had to say about this, click here.

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