Tag Archives | Business

How Monsanto Is Planning To Profit From Climate Change

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Not everyone is either worried or skeptical regarding man-made global warming. Mother Jones on how Monsanto is eagerly banking on it:

Data to help farmers grow crops in a changing climate. Climate Corporation, which Monsanto is acquiring, sells detailed weather and soil information to “help…manage and adapt to climate change.” Monsanto thinks the ag data business will be a $20-billion market.

Insurance for when it’s too hot, cold, dry, wet, or otherwise extreme outside. Climate Corporation currently sells both federally subsidized crop insurance and supplemental plans.

Drought-resistant corn. Monsanto lists the effects of climate change-related precipitation changes and droughts as a potential “opportunity.” This year, Monsanto started rolling out a new line of patented, first-of-its-kind genetically engineered corn seeds that are resistant to drought.

Cotton that needs less water to grow. The company is piloting genetically modified cotton that that can grow while using less water and survive drought.

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Surveillance State Hurts U.S. Economy: Lavabit Likely to Move Overseas

via chycho

CaptureIn a sign of things to come for the U.S. tech industry, Ladar Levison, the owner of Lavabit, the secure private encrypted email provider that shut down after 10 years of operation (2, 3) because he decided not to abide by the demands made by the United States government to spy on their 400,000 plus users, explains that if he loses his case against the U.S. government he will most likely hand over his company to someone overseas and let them run it. It’s important to note that the U.S. government already new that this would be the end result, that revelations about NSA’s PRISM program would hurt American Technology companies, but they didn’t really care.

Levison clarifies his position in the following interview on Democracy Now!. The segment in which he makes these comments occurs at approximately the 11 minute mark, but the whole interview is well worth watching, especially the part just before these comments where he explains how the U.S.Read the rest

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U.S. government knew that revelations about NSA’s PRISM program would hurt American Technology companies, but they didn’t “really really care”, Bart Gellman

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When details of NSA’s PRISM surveillance program were revealed, American technology companies shuttered in fear, not because they were concerned about criminal prosecution – both the Bush administration and the Obama administration had authorized the program – they shuttered in fear because they knew the revelations would negatively impact their business.

In the following interview on Democracy Now!, when Juan Gonzalez asks Alan Rusbridger, the editor of The Guardian, the British newspaper that first reported on the Snowden affair (2), what his thoughts are on the impact of the revelations of the surveillance program on the world stage, Rusbridger replies (segments of interest occur at approximately 38:00 and 47:00 – emphasis added):

ALAN RUSBRIDGER [38:00]: Well, I think, the bit that is sometimes missing from the American debate, the President places great emphasis on the fact that America doesn’t spy on Americans in American territory, as if that was the only thing that mattered.

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Contracts With Workers Vs. Contracts With Banks

contracts

When are contracts ironbound, and when are they optional? Via the Center for Economic & Policy Research, Dean Baker writes:

The debate over public pensions clearly shows the contempt that the elites have for ordinary workers. While elites routinely preach the sanctity of contract when it works to benefit the rich and powerful, they are happy to treat the contracts that provide workers with pensions as worthless scraps of paper.

We see this attitude on display currently in the Detroit bankruptcy proceedings. It is even more clearly on display in efforts by Chicago Mayor Rahm Emanuel to default on the city’s pension obligations.

The basic story in both cases is that the contracts that workers had labored under are being laughed at by the elites because they find it inconvenient to carry through with the terms.

In Detroit, paying for pensions or anything else without outside assistance poses a real problem.

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Robb Smith on Economics, World Crisis and More

robb09headshotKeith Martin-Smith’s Only Everything podcast recently had on entrepreneur Robb Smith. This thirty-eight minute interview covers a lot of ground, discussing the collapsing economy, the historical background of the situation and what the future is likely to be. A pretty wide-ranging conversation, moves along quickly, and there’s some good nuggets for consideration. Worth listening to.

From Only Everything:

Robb is a social entrepreneur who works on “transformational era” systems at the intersection of human development, education, spiritual understanding and civilizational sustainability. He holds a uniquely grand view of what’s happening in the world today and what makes Millennials unique.

We get into nothing short of the future of the world economy, human happiness, and where we’re heading in the next 5-6 decades.

We discuss:

  • How World War II transformed the American economy and fueled the emerging consciousness counterculture of the 60′s and the success of Gen X in the 90′s
  • How this economic foundation is in the process of collapsing
  • What happens when a culture like ours, focused on finding lives of “meaning”, has the economic rug pulled out from under it (hint: crisis)
  • How companies like Air B&B represent the downside and problem with technology interacting with brick-and-mortar industries, such as hospitality
  • Why it’s  better today  to be a Chinese teenager today than an American one (and not what you think)
  • Why the next great economic wave and business movement will and must move away from a winner-takes-all mentality to a “win-win” mentality, as represented by B-corps and conscious capitalism.
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Goldman Sachs Contains 4,000 Separate Corporate Entities

Including more than 739 companies based in the Cayman Islands alone. Common Dreams on the staggering webs woven by multinationals as they split and grow, bringing to mind primitive, blob-like life forms expanding and engulfing their surroundings:

The London-based Open Data Institute has collected and mapped ccorporate data, much of it made public for the first time, showing the complex relationships between multinational companies and their global subsidiaries. Stunning visuals on the corporate networks of the six biggest banks in the U.S. – Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo, Citigroup and JP Morgan – show the tangled webs they weave.

corporate entities

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Chinese Wizard Makes Nearly $2 Million In A Year Selling Magic Spells Online

spellsWhen is someone going to found a metaphysical eBay? Via the Sydney Morning Herald:

A Chinese magician’s online “spell” emporium that is reportedly earning him more than one million yuan ($180,000) each month from clients who hoped to find love, atone for sins or improve relations with their mothers-in-law.

University dropout Luo Shun, 31, began working as a freelance feng shui consultant, charging for advice on auspicious dates and names, in 2002. He opened an online store on Taobao, China’s answer to Amazon, in the hope of reaching some of the country’s 538 million-plus internet users, last October.

Mr. Luo’s site offers more than 160 spells or products. Last month it sold 2,825 spells, the most popular a $53 love charm. Mr Luo declined to discuss how much money he was making but promised to channel his wealth into philanthropy.

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Deception Services: Company Offers To Create And Maintain Webs Of Lies

deception servicesThis model seems, ironically, like a more direct and honest version of what many businesses already do. As described by the St. Paul Pioneer Press:

Tim Green will tell anyone anything, for a fee. As the founder of Paladin Deception Services, he will say what clients want him to say to anyone calling on his dedicated phone lines. He provides cover for cheating husbands, fake references for job-seekers and even “doctors” to confirm that someone needs a sick day.

Since he started Paladin in 2009, he has had about 250 clients on a ongoing basis. When potential clients call, Green connects them with one of his five employees. He picks the one best-suited for the job — male, female, or someone fluent in Spanish or Chinese. One employee is known for his ability to speak with a British accent or a Southern drawl. Paladin provides a phone number with any area code in the country.

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Why The “Financial Literacy” Push Is A Sham

financial literacyApril was national financial literacy month, promoted heavily by major banks and other debt-producing institutions who want you to believe that poverty, the financial crisis, and mounting student debt are the result of ordinary people’s ignorant refusal to discipline themselves and budget properly. Via the Guardian, Helaine Olen writes:

Companies and colleges say that if we all understand our finances, financial crises won’t happen. This is simply untrue.

April is National Financial Capability Month. Federal Reserve chairman Ben Bernanke says: “Among the lessons of the recent financial crisis is the need for virtually everyone – both young and old – to acquire a basic knowledge of finance and economics.” Sounds great.

But it promotes the false equivalence that the victims of the financial shenanigans of the past several years are as responsible for the financial crisis as the financial services sector, the ultimate creator of all those financial products of mass destruction.

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Wall Street Exploring Ways To Profit From Global Warming

Turning lemons into really pricy lemonade. Bloomberg on the investment companies banking on massive windfalls as the planet heats:

Investing in climate change used to mean putting money into efforts to stop global warming. Now some investors are taking another approach. Working under the assumption that climate change is inevitable, they’re investing in businesses that will profit as the planet gets hotter.

Derivatives that help companies hedge against abnormal weather and natural catastrophes are drawing increased interest from big players. In January, KKR bought a 25 percent stake in Nephila Capital, an $8 billion Bermuda hedge fund that trades in weather derivatives.

Drought is helping spur business at Water Asset Management. The New York hedge fund, which has about $400 million under management, buys water rights and makes private equity and stock market investments in water treatment companies.

Ole Christiansen is also investing to take advantage of rising temperatures. “Last summer we were exploring in south Greenland, mainly for gold,” says the chief executive officer of NunaMinerals (NUNA), a local mining company.

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