Dark Cloud Over Good Works of Gates Foundation

theodp writes "Justice Eta, a Nigerian infant, has an ink spot on his tiny thumb to show he was immunized against polio and measles thanks to the Bill & Melinda Gates Foundation. But Justice still faces respiratory trouble, which locals call 'the cough' and blame on fumes and soot spewing from 300-foot flames at a nearby oil plant owned by Itallian energy giant Eni, whose investors include the Bill & Melinda Gates Foundation. Part one of an L.A. Times investigation reports that the world's largest philanthropy pours money into investments that are hurting many of the people its grants aim to help. With the exception of tobacco companies, the foundation's asset managers do not avoid investments in firms whose activities conflict with the mission to do good."

Comments

Oil Plant?

[tyleroar]

Is there really any proof that 'the cough' is caused by the oil plant, besides 'the locals' saying it is? Oh wait, I mean, Bill Gates is horrible and Windows sux0rz.

Re:WTF?

[QuietLagoon]

the Gates Foundation to me is the only positive thing I can see Bill doing.

Of course, after he stole all the money via his illegal monopoly, he is now trying to leave behind a legacy of good for his name.

I would rather not have to pay the exorbitant prices for Windows and Office, and then decide for myself which charities I want to support with my monetary savings. Gates has no right to spend my money trying to better his name.

Re:Something I've been saying all along

[AnyThingButWindows]

The fact the the Gates foundation invests into questionable industries is perfect.

I had to make a 2nd post because I agree with you on this. It is well known, however forgotten due to the current Bush administration that the Gates foundation donated to Al'Kida 3 years before the Sept 11 attacks. They fully funded the attack with $11,000 and gave to Bin Laden as a charitable donation, supposedly unknowingly. I remember seeing it on a BBC news block.

Capitalism is about profit not doing good

[Anonymous Coward]

What is the big deal? Gates did start the foundation to improve their reputation, not the mankind. It was not an act of generosity, but a business deal, give money and receive good reputation in exchange. That proves that money can do everything including buy good reputation, love, etc. True, good reputation is a bit expensive (billions); (true) love is probably cheaper (say only millions).

The foundation is a karma-buying scam

[EmbeddedJanitor]

The main purpose is to vaccinate Microsoft against bad press. The Buffett docation announcement was made on a stadium draped in Microsoft logos.

They think they will cure AIDS. Ha! Developing a vaccine is only part of the cure. There's been a vaccine for TB for 50+ years and still many people die of TB every day.

Re:The Price of Industry & Economics

[MoralHazard]

Because the firms running these plants are most likely foreign based. Meaning that the profits are probably shipped outside of the country. If the company was setting up jobs & providing services and money in the economy, then I'd almost be tempted to overlook the asthma & health problems associated with these companies. The problem is that I'm almost certain none of that wealth is returning to the local community.

So these people are working for peanuts? Did you sleep through econ 101, or what? IT DOESN'T MATTER WHICH COUNTRY THE PROFITS FLOW TO! The benefits of opening a factory in my town are that the jobs pay wages to local workers, which pumps money into the local economy.

Whether the owner is a local American, a fat cat in New York City, or a Japanese dude, the factory is still helping my standard of living and giving me a better job, so maybe I can send my kids to college and own a house. Even if the owner of the factory was a local, HE WOULD KEEP THE PROFITS, ANYWAY. It's a capitalist market system! It's not like because he's African, he's going to hand out big wads of cash to his countrymen just because they share a border and a government.

The only differences between domestic versus foreign ownership are:
    - personal income taxes are not paid domestically; however, corporate income taxes, property taxes, payroll, import/export duties ARE paid locally, so the lost funds are probably minimal in relation to the total tax paid;
    - less secondary economic impact of a domestic owner spending his profits in the local economy; given the huge proportion of industrial operating costs associated with labor (pwyroll), though, this is also probably minimal in relation to the amount of money paid directly to workers as wages;

Go hug a tree, Granola Boy. And think for five minutes before you spout off about subjects where you're as ignorant as this.

What a Friggin' Surprise!

[Master of Transhuman]

How many times have I SAID here that the Gates Foundation is a STOCK-LAUNDERING SCAM, NOTHING MORE!

How many times have I SAID here that the Gates Foundation puts out BARELY enough money into actual charities to comply with Federal law?

How many times have I SAID here that the Gates Foundation drums up PR for Bill and Microsoft by announcing some multi-hundred million dollar "charity" that then SPREADS THE MONEY OUT OVER ELEVEN YEARS!

This is CLASSIC "rich guy philanthopy" - convert the stock to cash that he can't because of FCC rules, then dribble out the money, and in the meantime dump the cash into stock portfolios to influence and control other companies.

And you Microsoft shill SUCKERS buy into this crap!

Morons.