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Sick, the one thing that this article does not mention is how much damage it has already done. The US law and garden products company, Scotts Miracle Gro, the world’s largest marketer of residential pesticides, is facing $12.5 million in fines for violating numerous federal pesticide laws and for adding illegal toxins to wild bird food. The company pleaded guilty to distributing pesticides with misleading and unapproved labels, distributing unregistered pesticides and [...] Herbalife, a marketer of fitness and nutrition products, was a little more than 36 minutes into its conference call when the operator turned the call’s second question over to David Einhorn of Greenlight Capital.
Seconds later the stock would collapse nearly 20 percent, erasing about $2 billion in market cap. Einhorn is famous for calling the fall of Lehman Brothers and for raising questions of fraud at Green Mountain Coffee Roasters late last year. Einhorn asked three main questions to [...] By Michael Hudson What would Adam Smith have said about the Bowles-Simpson economic report last week? What a pity the great free marketer was not around to serve on the Deficit Reduction Commission. He not only would have rolled over in his grave, he would have risen up wielding an ax to the fiscal proposals that are diametrically opposite to the fiscal principles that he and his original [...] |
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