AnotherReason Why Large Corporations Suck

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Re: AnotherReason Why Large Corporations Suck

Post by Riddick » 01-31-2018 09:41 PM

kbot wrote:
01-31-2018 07:00 AM
Perhaps, rather than creating a new system, why not get rid of all the rules imposed by the government by way of CMS regulations that makes the system so bad in the first place?
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Big Tech: Monopolistic Rule Hiding In Plain Sight

Post by Riddick » 02-15-2018 01:55 AM

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Edited & Excerpted From Kevin Carty's Article At nypost.com -

America’s tech giants are nothing if not popular. Apple, Google, Facebook and Amazon rank as some of the most well-liked brands in the world. The reason is simple — these companies’ products are entertaining, accessible and seemingly cheap.

Yet their growing dominance has led to an insidious trend we shouldn’t so happily accept. In fact, tech giants are just like the monopolists and robber barons that ruled the American economy a century ago.

America’s biggest tech companies have at least as much power as John D. Rockefeller and J.P. Morgan did in the early 20th century; it is just much harder to see.

While Standard Oil’s monopoly was as obvious as the smoke-belching refineries it controlled, the powers of Facebook, Google, Apple and Amazon are less transparent — if not entirely secret.

An average Facebook user has no way of knowing or appreciating the mountain of data the company has collected on them. And the average Amazon shopper is unlikely to know that the site steers customers toward its preferred (and often more expensive) products.

Tech companies can dominate sectors without actually producing anything in those markets. Apple does not produce any music, but it nonetheless controls a huge amount of the industry. Facebook doesn’t produce any news, but news organizations are highly dependent on the social platform.

And these corporations continue to expand. Amazon, for instance, has entered the grocery business — via its buyout of Whole Foods — and just recently announced a new healthcare project.

It is increasingly clear the relentless expansion of America's tech goliaths is beginning to have a much bigger, and wider effect on the economy.

It serves to drive down wages, and it may mean fewer jobs overall. It also means less opportunity for independent entrepreneurs to start up new companies — contributing to fewer small and local businesses.

Americans have addressed this challenge before. In 1911, the US government broke Standard Oil into 34 pieces after the company monopolized 90 percent of the US oil market. Google now controls 92 percent of the global search-engine market but is still allowed to expand.

The only way to tame America's tech goliaths is to see them for what they are — monopolies — and resume the trust-busting that freed Americans from companies like Standard Oil and plutocrats like J.P. Morgan.

The good news is, US antitrust enforcers have all the power they need to go after the biggest tech platforms. They just need to use that power, now.

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Bad Blood

Post by Riddick » 03-14-2018 12:17 PM

Theranos CEO And President Charged With 'Massive' Fraud

Elizabeth Holmes, the once high-flying founder of Theranos, has been charged with “massive” fraud, stripped of control of the company and cannot lead a public company for 10 years, the SEC said Wednesday.

The Securities and Exchange Commission accused Holmes and former President Ramesh “Sunny” Balwani of orchestrating a $700 million years-long fraud, and said they have settled charges against them.

Palo Alto-based Theranos reached a valuation of $9 billion before it became apparent after stories by the Wall Street Journal starting in 2015 that the company’s pin-prick blood tests were not as effective as its executives had claimed.

Holmes, who in 2016 was banned from operating a blood-testing lab for two years, will pay a $500,000 fine, Theranos said Wednesday.

“The Company is pleased to be bringing this matter to a close and looks forward to advancing its technology,” a Theranos spokesperson said in an email. The company noted that the settlement did not include an admission or denial of guilt by the company or Holmes.

Balwani retired in 2016.

“The Theranos story is an important lesson for Silicon Valley,” said Jina Choi, Director of the SEC’s San Francisco Regional Office, in a statement. “Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today, not just what they hope it might do someday.”

https://www.mercurynews.com/2018/03/14/ ... ive-fraud/

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Re: AnotherReason Why Large Corporations Suck

Post by kbot » 03-15-2018 04:32 AM

Read this one yesterday Riddick. Talk about a racket, huh?

Copay exceeds drug cost in 23% of claims: JAMA research

Dive Brief:

Nearly one in four patients picking up their prescription drugs from the pharmacy counter paid a copay which exceeded the price the insurer paid the pharmacy, according to an analysis of sampled reimbursement and insurance claim data published in JAMA Tuesday.
The research compared national average retail price (NARP) reimbursement data with a sample set of copayments from pharmacy claims recorded in Optum's Clinformatics Data Mart over the first half of 2013.
Among 9.5 million claims, 2.2 million (approximately 23%) involved overpayments. Sixty percent of the most commonly prescribed drugs involved overpayment more than a third of the time. The drugs most often linked to overpayments were the calcium channel blocker Norvasc and the sedative Ambien.


The prescription drug pricing system remains something of an enigma. Academic research into the topic usually runs up against limits in what information can reliably be obtained.

That's mostly because the data are "closely held by key players in the pharmaceutical supply chain," according to Darius Lakdawalla, a professor at the University of Southern California, who was not involved in the study.

The JAMA research found overpaying for a generic occurs more commonly than overpaying for branded medications — 28% of the time versus 6%, respectively. Interestingly, overpayments for branded medications, although not as frequent, were nearly twice the amount than overpayments for generic drugs ($13.46 versus $7.32).

Mean overpayment across all drug types was $7.49, with aggregate overpayments totaling $135 million in 2013. This sum represents a total overpayment of $10.51 per member.

https://www.biopharmadive.com/news/copa ... ch/519148/
"The dogma lives loudly within you. And that’s of concern ......"

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Re: AnotherReason Why Large Corporations Suck

Post by Doka » 03-15-2018 12:41 PM

kbot wrote:
03-15-2018 04:32 AM
Read this one yesterday Riddick. Talk about a racket, huh?

Copay exceeds drug cost in 23% of claims: JAMA research

Dive Brief:

Nearly one in four patients picking up their prescription drugs from the pharmacy counter paid a copay which exceeded the price the insurer paid the pharmacy, according to an analysis of sampled reimbursement and insurance claim data published in JAMA Tuesday.
The research compared national average retail price (NARP) reimbursement data with a sample set of copayments from pharmacy claims recorded in Optum's Clinformatics Data Mart over the first half of 2013.
Among 9.5 million claims, 2.2 million (approximately 23%) involved overpayments. Sixty percent of the most commonly prescribed drugs involved overpayment more than a third of the time. The drugs most often linked to overpayments were the calcium channel blocker Norvasc and the sedative Ambien.


The prescription drug pricing system remains something of an enigma. Academic research into the topic usually runs up against limits in what information can reliably be obtained.

That's mostly because the data are "closely held by key players in the pharmaceutical supply chain," according to Darius Lakdawalla, a professor at the University of Southern California, who was not involved in the study.

The JAMA research found overpaying for a generic occurs more commonly than overpaying for branded medications — 28% of the time versus 6%, respectively. Interestingly, overpayments for branded medications, although not as frequent, were nearly twice the amount than overpayments for generic drugs ($13.46 versus $7.32).

Mean overpayment across all drug types was $7.49, with aggregate overpayments totaling $135 million in 2013. This sum represents a total overpayment of $10.51 per member.

https://www.biopharmadive.com/news/copa ... ch/519148/

I have to go back to the "source" this is what the Democrats wanted to keep, with John McCain's deciding vote! The Message was clear, This is what we want for the People! And the "Bobble Headed" Liberals follow with big smiles, well, until Their Karma kicks in, and they squeal like the blind pigs that they are.

As far as Corporations go, painting All of them as bad, because Some are glaringly Rotten is Not prudent ,it has the Liberal scent on it, like their "All or Nothing ", "Their way or the Highway" attitude, the quest that got us in this mess in the 1st place.

We have at the moment "One Human" President trying to plug holes, that are being made beyond fast, with other worldly like resistance, and insanity. And quite frankly, I'm not sure who will win in this assault on the people. On one hand, I feel all the crazy ones should be allowed to have what, they are so ignorant of, but , I certainly don't want, for myself and Others that still have the capacity to know "Right from Wrong", to go over the cliff with them!! :shock:
Karma Rules

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Re: AnotherReason Why Large Corporations Suck

Post by Doka » 03-15-2018 07:33 PM

The Working Rich Improve Our Lives

https://youtu.be/ObBdQulKK8A


It seems so odd to lavish praise on the unworthy and hateful. But, If you are Joe Blow, who works hard , takes care of his family and becomes well to do, he is on an Automatic hate list. And punished. But, I just described Socialism didn't I.
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From Bad To Worst

Post by Riddick » 03-16-2018 01:55 PM

Doka wrote:
03-15-2018 12:41 PM
As far as Corporations go, painting All of them as bad, because Some are glaringly Rotten is Not prudent ,it has the Liberal scent on it, like their "All or Nothing ", "Their way or the Highway" attitude, the quest that got us in this mess in the 1st place.
I tellya whut, Doka, clearly not all corporations are bad, but IMHO the bigger they are, the more out of control they can get. 'Too big to fail', 'Too big to jail', that's what really galls me. Bailouts and slaps on the wrist (if that)? None of that for Mom & Pop!

If corporations are people, then let's hold them accountable like people? But that's the thing, they're not. You can't put corporations in jail. Execs aren't immune from prosecution, but for big 'uns there's that army of lawyers to hold the long arm at bay

Look at Theranos. The case gets settled out of court. CEO's canned, fined $500K and can't lead a public company for 10 years. No admission of guilt or innocence by her or the company. Not exactly off scott free, but still a nice deal. When you can get it.

Simply put personhood for sufficiently scaled corporations doesn't carry the same risk of reprisal and retribution for wrongdoing as for flesh-and-blood folks. Sans adequate deterrents, if the potential rewards are great, heck why NOT commit massive fraud?

It doesn't help all too often and for far too long bad apples take frequent advantage of the revolving door between Wall St. and K Street. Insofar Trump wants to change how business is conducted in DC, his work is more than cut out for him for sure -

In the Big Gov/Big Biz axis aka 'The Big Club, 'Deep State', 'Establishment' the worst of the worst go gaga for globalism (can't get more massive than that), anything else is 'bad news'. Making America Great Again isn't in their interest, trashing Trump is!

In conclusion, as to "We The People" (those of flesh, and not), I'll say decrying ALL corporations for conducting themselves in a manner other than that befitting patriotic and responsible American citizens IS as reckless as saying all white people are racist.

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A Rich Diet

Post by Riddick » 03-17-2018 01:47 PM

Doka wrote:
03-15-2018 07:33 PM
It seems so odd to lavish praise on the unworthy and hateful. But, If you are Joe Blow, who works hard , takes care of his family and becomes well to do, he is on an Automatic hate list. And punished. But, I just described Socialism didn't I.
Well, it's complicated. There's hatred but there's a way to fix that.

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Enter the ultimate consumer. With the list & knife and fork in hand.

Time for supper! But what about tomorrow night? Simple enough

1) Redefine "rich". 2) Make a new list. 3) Heat, eat and repeat.

Of course, the last supper menu will be the ultimate consumer

Moral Of The Story: Eat the rich, you eventually eat yourself.

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