All Entries Tagged With: "corporate Fraud"

How GM “Lied” About The Electric Car

The Chevy Volt has been hailed as General Motors’ electric savior. Now, as GM officially rolls out the Volt this week for public consumption, we’re told the much-touted fuel economy was misstated and GM “lied” about the car being all-electric.

In the past, and based on GM’s claims, we’ve gone so far as to call the Volt GM’s “Jesus Car.” And why wouldn’t we call it that? We were told the Volt would achieve 230 MPG fuel economy and would always use the electric drivetrain to motivate the wheels — only using the onboard gasoline engine as a “range extender” for charging the batteries. It now turns out that not only were those fuel economy claims misleading, but the gasoline engine is actually used to motivate the wheels — making the Volt potentially nothing more than a very advanced hybrid car and pushing some automotive journalists like Scott Oldham at Edmunds.com to claim “GM lied to the world” about it.

Full Story: How GM “Lied” About The Electric Car.

G.M., Repaying Taxpayers With Their Own Cash

AS we inch closer to a clearer understanding of the products and practices that unleashed the credit crisis of 2008, it’s becoming apparent that those seeking the whole truth are still outnumbered by those aiming to obscure it. This is the case not only on Wall Street but also in Washington.

Truth seekers the nation over, therefore, are indebted to Senator Charles E. Grassley, Republican of Iowa, who in recent days uncovered what he called a government-enabled “TARP money shuffle.” It relates to General Motors, which on April 21 paid the balance of its $6.7 billion loan under the Troubled Asset Relief Program.

G.M. trumpeted its escape from the program as evidence that it had turned the corner in its operations. “G.M. is able to repay the taxpayers in full, with interest, ahead of schedule, because more customers are buying vehicles like the Chevrolet Malibu and Buick LaCrosse,” boasted Edward E. Whitacre Jr., its chief executive.

Full Story: Fair Game – At G.M., Repaying Taxpayers With Their Own Cash – NYTimes.com.

Pfizer’s Ghostiwritten Journal Articles

But one look at the US National Library of Medicine database shows the bogus, ghostwritten papers Wyeth (now Pfizer) planted in medical journals in a ghostwriting scandal that reached Congress last year, still stand unretracted.

“Is there an association between hormone replacement therapy and breast cancer?” asks an unretracted article in the Journal of Women’s Health, 1998 Dec;7(10):1231-46–a question a fourth grader could answer.

The “author” William T. Creasman, MD, neither wrote or initiated the article but was suggested by Jeff Solomon of Wyeth, according to documents posted on the University of California, San Francisco’s Drug Industry Document Archive (Dida) http://dida.library.ucsf.edu.
Full Story: Scoop: Pfizer’s Ghostiwritten Journal Articles.

Airport Security: Welcome to Scannergate

Terror Scares A Boon for Security Grifters

Call them what you will: bottom feeders, corporate con-men, flim-flam artists, peddlers of crisis, you name it.

You can’t help but marvel how enterprising security firms have the uncanny ability to sniff-out new opportunities wherever they can find, or manufacture, them.

After all, nothing sells like fear and in “new normal” America fear is an industry with a limitless growth potential.

While Republicans and Democrats squabble over who’s “tougher” when it comes to invading and pillaging other nations (in the interest of “spreading democracy” mind you), a planetary grift dubbed the “War on Terror,” waiting in the wings are America’s new snake-oil salesmen.

Welcome to Scannergate!

With airport security all the rage, companies that manufacture whole body imaging technologies and body-scanners stand to make a bundle as a result of last December’s aborted attack on Northwest Airlines Flight 253.

Like their kissin’ cousins at the Pentagon, poised to bag a $708 billion dollar windfall in the 2011 budget, securocrats over at the Department of Homeland Security (DHS) stand to vacuum-up some $56.3 billion next year, a $6 billion increase.

Full Story: Airport Security: Welcome to Scannergate.

Health Insurers Funded Chamber Attack Ads

AHIP President Karen Ignagni. Despite promises to the White House that the major health insurance companies would play nice on healthcare, they quietly pushed funds to third-parties for ads attacking reform. "There's no question that AHIP has quietly solicited monies from their members which were funneled over to the chamber for their ads," said a source. The total donated by the health insurers, according to one estimate, was as much as one-quarter of the chamber's total health care advertising budget.

Just as dealings with the Obama administration and congressional Democrats soured last summer, six of the nation's biggest health insurers began quietly pumping big money into third-party television ads aimed at killing or significantly modifying the major health reform bills moving through Congress.

That money, between $10 million and $20 million, came from Aetna, Cigna, Humana, Kaiser Foundation Health Plans, UnitedHealth Group and Wellpoint, according to two health care lobbyists familiar with the transactions. The companies are all members of the powerful trade group America's Health Insurance Plans.

The funds were solicited by AHIP and funneled to the U.S. Chamber of Commerce to help underwrite tens of millions of dollars of television ads by two business coalitions set up and subsidized by the chamber. Each insurer kicked in at least $1 million and some gave multimillion-dollar donations.

Full Story Health Insurers Funded Chamber Attack Ads – Under The Influence – Under the Influence.

Health Insurers Caught Paying Facebook Gamers Virtual Currency To Oppose Reform Bill

Health insurance industry trade groups opposed to President Obama’s health care reform bill are paying Facebook users fake money — called “virtual currency” — to send letters to Congress protesting the bill.

Here’s how it’s happening:

Facebook users play a social game, like “FarmVille” or “Friends For Sale.” They get addicted to it. Eager to accelerate their progress inside the game, the gamers buy “virtual goods” such as a machine gun for “Mafia Wars.” But these gamers don’t buy these virtual goods with real money. They use virtual currency.

The gamers get virtual currency three ways:

* Winning it playing the games

* Paying for it with real money

* By accepting offers from third-parties — usually companies like online movie rentals service Netflix — who agree to give the gamer virtual currency so long as that gamer agrees to try a product or service. This is done through an “offers” provider — a middleman that brings the companies like Netflix, the Facebook gamemakers, and the Facebook gamemaker’s users together.

Full Story Health Insurers Caught Paying Facebook Gamers Virtual Currency To Oppose Reform Bill.

OPS: One way to get around the Child Labor Laws

Roche’s Tamiflu Not Proven to Cut Flu Complications, Study Says

Roche Holding AG’s antiviral drug Tamiflu may not prevent complications from influenza in healthy adults, according to a review by an independent research group that reversed its previous findings that the medicine warded off pneumonia and other deadly conditions linked to the disease.

The pill has been the mainstay of treatment for pandemic swine flu, which has killed nearly 9,000 people since it emerged in April, according to the World Health Organization. Roche, based in Basel, Switzerland, defended the benefits of the drug, which it expects to generate 2.7 billion francs ($2.64 billion) in sales this year.

An analysis of 20 studies by the Cochrane Collaboration showed Tamiflu offered mild benefits for healthy adults and found no clear evidence it prevented lower respiratory tract infections or complications of influenza, according to the group. The review, published in the British Medical Journal and broadcast yesterday on the U.K.’s Channel 4 News, showed the drug eased and shortened symptoms if taken quickly.

Full Story Roche’s Tamiflu Not Proven to Cut Flu Complications, Study Says – Bloomberg.com.

Blue Cross pushing plan to declare health reform unconstitutional

As the battle for health care reform rages on in the Senate, the powerful insurance consortium Blue Cross Blue Shield appears to have embraced some rather unorthodox methods for achieving its goals.

After months of fierce insurance industry opposition to the bill, Blue Cross is working secretively with conservative front group American Legislative Exchange Council to use the issue of states’ rights as a pretext to declaring health reform unconstitutional.

ALEC has for months worked to spread the notion that all the proposals put forth by President Obama and Democrats — including industry regulations and a public option — violate states’ rights. The group wrote a resolution declaring as much this summer.

A senior executive at the Blue Cross Blue Shield Association (BCBS’ lobbying group) has admitted to Think Progress she played a vital role in crafting ALEC’s resolution, and insurance lobbyists have since worked in tandem with the group to promote it.

Full Story Blue Cross pushing plan to declare health reform unconstitutional | Raw Story.

Drug-Makers Paying Off Competitors To Keep Cheap Generics Off Market

Republicans and their allies in the business community talk a good game about the virtues of free-market competition. But, as we’ve seen in the debate over the public option, that stance often goes out the window when corporate profits are at stake.

And now we’ve got another example — one of the sleaziest and most blatantly self-serving yet.

Over the last few years, drug-makers have embraced a startlingly simple tactic for fending off competition from generic brands: paying them off. In a nutshell, the company that holds the patent on a profitable drug strikes a deal with the maker of the cheaper generic brand: you hold off on marketing your generic for several years, and in return, we’ll give you a share of our profits on the drug.

So common have these deals become lately that they’ve been given a name: pay-for-delay. The approach — a textbook anti-competitive tactic — is worth billions to drug-makers, because it essentially allows them to buy more protection than their patent confers.

Full Story Drug-Makers Paying Off Competitors To Keep Cheap Generics Off Market | TPMMuckraker.

Quiet Conspiracy

Sen. Ernest F. “Fritz” Hollings –

Business began the conspiracy of silence on the Trade War that rages in globalization.

Fifteen years ago, I called my friend Walter in California to ask that his next expansion be in South Carolina. Walter responded: “I don’t produce anything in the United States. It’s all in China. I lease the plant for a year. They provide the workers, and I put a quality control man in charge, keeping up with him on the Internet. If I make a profit, I don’t have to pay any taxes. I just invest in another plant and expand. If business has a downturn, I just walk away. I haven’t lost any capital investment or incurred any legacy costs.”

The conspiracy has four components. The first begins with business keeping this deal quiet. It is globalization. Nothing you can do about it. If one tries to address the issue, it is called “protectionism,” and they are told “don’t start a trade war.” Instead of leading the way in Congress for a strong economy, they remain hushed! Thus, business began the conspiracy of silence on the Trade War that rages in globalization. Globalization is nothing more than a Trade War with production looking for a cheaper country to produce. When producing offshore one doesn’t have to bother with health care, labor laws, protecting the environment, OSHA’s safety rules and anti-trust provisions.

Second in the conspiracy is Wall Street, which is interested in offshore profits, banks and investment houses like Goldman-Sachs finance offshore production.

Full Story Economyincrisis.org – America’s Economic Report – Daily.

Exclusive: Attacks On Health Reform Orchestrated By Yet Another Shadowy Corporate Front Group — ‘CMPI’

The resistance to reforming our nation’s healthcare system has been fueled by entrenched corporate interests. Their deep pockets are funneling money into generating attack ads, funding lawmakers’ campaigns, and hiring lobbyists. These corporate interests are also funding various front groups to make up their own facts and scare the public.

Among the latest corporate front groups orchestrating a campaign of misinformation against health reform, ThinkProgress has learned, is an outfit called the “Center for Medicine in the Public Interest” (CMPI). CMPI was originally a project of the Pacific Research Institute, an older corporate front established in conjunction with Philip Morris to fabricate academic support for the tobacco industry. Some of CMPI’s recent attacks on health reform have included:

– CMPI produced a series of “US Policymaker” interviews about health reform featuring exclusively Republican lawmakers — such as Reps. Louie Gohmert (TX), Bob Inglis (SC), Jack Kingston (SC), Tom Price (GA), Joe Wilson (SC), Michele Bachmann (MN), Paul Ryan (WI); Sens. Jim DeMint (SC), Jim Bunning (KY), David Vitter (LA) — attacking health reform. CMPI also produced a series of videos mocking health reform and the public option.

– CMPI created various video games distorting health reform. They serve as gimmicks to recruit users to sign up for CMPI’s daily anti-reform talking points.

Full Story Think Progress » Exclusive: Attacks On Health Reform Orchestrated By Yet Another Shadowy Corporate Front Group — ‘CMPI’.

Ex-Blue Cross spokesman says health insurance ‘worst product in American history’

Ex-Blue Cross spokesman: ‘We lie’ >>>

Teaming with the liberal Brave New Films, a former Blue Cross pitchman is now pitching against Blue Cross.

Andy Cobb, who once tried to sell Floridians on a Blue Cross health insurance plan, says he’s fed up with the industry.

“I was a spokesman for BlueCross and Blueshield of Florida,” Cobb says. “Call me a spokesjerk. People who make money for buying things you don’t need. And we’re telling you lies.”

“They, by which I mean I, make money by standing in the way of reform,” Cobb says in the ad, which appears as a spoof of something like a freecreditreport.com ad. “It’s time for change.”

“That’s why I’m calling on leaders from the spokesjerk industry,” Cobb continues. “The freecreditreport.com guy. The Shamwow dude. And Senator Bill Nelson, recipient of big money from insurance companies — to lead us. To walk away from their cash cows and tell American people the truth.

Full Story Ex-Blue Cross spokesman says health insurance ‘worst product in American history’ | Raw Story.

AARP’s Tradition of Betrayal

Founded in 1958 for aged 50 and older Americans, AARP call itself “a nonprofit, nonpartisan membership organization (dedicated to) improv(ing) the quality of their lives,” even though from inception it sold insurance to earn royalties – now to its 40 million members in all 50 states, the District of Columbia, Puerto Rico, and the US Virgin Islands while claiming a mandate to:

– deliver “value to members through information, advocacy and service;”

– work “tirelessly to fulfill its vision: a society in which everyone ages with dignity and purpose, and in which AARP helps people fulfill their goals and dreams;” and

– speak “with one voice – united by a common motto: ‘To serve, not be served.”

Today it’s branches include:

– AARP Foundation focusing on “education….service, (and) legal advocacy efforts;”

– AARP Services, providing “marketplace access to services that people need and want” related to “health and financial products, travel and leisure offerings, and life event services;”

Full Story: SteveLendmanBlog: AARP’s Tradition of Betrayal.

Time To Stand Against Insurance Companies Lies And Ploys

Over the better part of the past year, a great debate has taken place in Washington and across America, about how to reform our health care system to provide security for people with insurance, coverage for those without insurance, and lower costs for everyone. From the halls of Congress to the homes of ordinary Americans, this debate has helped us to forge consensus and find common ground. Thats a good thing. Thats what America is all about.

Now, as the debate draws to a close, we can point to a broad and growing coalition of doctors and nurses, workers and businesses, hospitals and even drug companies folks who represent different parties and perspectives, including leading Democrats and many leading Republicans who recognize the urgency of action. Just this week, the Senate Finance Committee approved a reform proposal that has both Democratic and Republican support. For the first time ever, all five committees in Congress responsible for health reform have passed a version of legislation. As I speak to you today, we are closer to reforming the health care system than we have ever been in history.

But this is not the time to pat ourselves on the back. This is not the time to grow complacent. There are still significant details and disagreements to be worked out in the coming weeks. And there are still those who would try to kill reform at any cost. The history is clear: for decades rising health care costs have unleashed havoc on families, businesses, and the economy. And for decades, whenever we have tried to reform the system, the insurance companies have done everything in their considerable power to stop us.

We know that this inaction has carried a terrible toll. In the past decade, premiums have doubled. Over the past few years, total out of pocket costs for people with insurance rose by a third. And we know that if we do not reform the system, this will only be a preview of coming attractions. A new report for the Business Roundtable a non-partisan group that represents the CEOs of major …

Full Story: YouTube – Time To Stand Against Insurance Companies Lies And Ploys.

Rep. Perriello: Coal Fraudster Impersonated Women’s And Seniors’ Groups As Well

Rep. Perriello: Coal Fraudster Impersonated Women’s And Seniors’ Groups As Well - Think Progress »

The stack of forged letters opposing clean energy reform on behalf of the coal industry is growing. Rep. Tom Perriello (D-VA) has revealed that he not only received forgeries purporting to come from black and hispanic groups, but also senior citizen and women’s advocacy organizations as well.

Yesterday, Perriello’s office told reporters that in addition to the five NAACP letters and one Creciendo Juntos letter forged on behalf of the American Coalition for Clean Coal Electricity (ACCCE), “two other letters were forged to appear as if they had been sent by the Jefferson Area Board for Aging, a Charlottesville agency, and the American Association of University Women.” Perriello, who cast his vote in favor of the American Clean Energy and Security Act despite this fraud, discussed the scandal on Rachel Maddow:

via Think Progress » Rep. Perriello: Coal Fraudster Impersonated Women’s And Seniors’ Groups As Well.