All Things Microsoft > Microsoft as a Company
Dark cloud over good works of Gates Foundation
WMD:
http://www.latimes.com/news/nationworld/nation/la-na-gatesx07jan07,0,4205044,full.story?coll=la-home-headlines
It's quite long, and I haven't read the whole thing carefully, but what it appears to be about is: The Gates Foundation invests some of its money in companies that cause some of the problems they are working to fix. Doh!
H_TeXMeX_H:
--- Quote ---Like most philanthropies, the Gates Foundation gives away at least 5% of its worth every year, to avoid paying most taxes. In 2005, it granted nearly $1.4 billion. It awards grants mainly in support of global health initiatives, for efforts to improve public education in the United States, and for social welfare programs in the Pacific Northwest.
It invests the other 95% of its worth. This endowment is managed by Bill Gates Investments, which handles Gates' personal fortune. Monica Harrington, a senior policy officer at the foundation, said the investment managers had one goal: returns "that will allow for the continued funding of foundation programs and grant making." Bill and Melinda Gates require the managers to keep a highly diversified portfolio, but make no specific directives.
By comparing these investments with information from for-profit services that analyze corporate behavior for mutual funds, pension managers, government agencies and other foundations, The Times found that the Gates Foundation has holdings in many companies that have failed tests of social responsibility because of environmental lapses, employment discrimination, disregard for worker rights, or unethical practices.
--- End quote ---
That about sums it up
karablak:
i always knew this foundation never was anything more than just PR bullshit this but is HUGE.
too bad most of people will simply ignore it
WMD:
Your first red part is fairly typical, so I'll give that one to them. The second red part is the important part.
yahurd:
print it out!
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