crony capitalism

5 Companies That Make Money By Keeping Americans Terrified of Terror Attacks

"The drive to privatize America's national security apparatus accelerated in the aftermath of the terrorist attacks. 70 percent of the national intelligence budget is now spent on private contractors, as author Tim Shorrock reported. The private intelligence contractors have profited to the tune of at least $6 billion a year. In 2010, the Washington Post revealed that there are 1,931 private firms across the country dedicated to fighting terrorism. What it all adds up to is a massive industry profiting off government-induced fear of terrorism, even though Americans are more likely to be killed by a car crash or their own furniture than a terror attack." Continue reading →

Continue Reading5 Companies That Make Money By Keeping Americans Terrified of Terror Attacks

How An African ‘Princess’ Banked $3 Billion In A Country Living On $2 A Day

"For the past year Forbes has been tracing Isabel dos Santos’ path to riches, reviewing a score of documents and speaking with dozens of people on the ground. As best as we can trace, every major Angolan investment held by Dos Santos stems either from taking a chunk of a company that wants to do business in the country or from a stroke of the president’s pen that cut her into the action. Her story is a rare window into the same, tragic kleptocratic narrative that grips resource-rich countries around the world. For President Dos Santos it’s a foolproof way to extract money from his country, while keeping a putative arm’s-length distance away." Continue reading →

Continue ReadingHow An African ‘Princess’ Banked $3 Billion In A Country Living On $2 A Day

How An African ‘Princess’ Banked $3 Billion In A Country Living On $2 A Day

"For the past year Forbes has been tracing Isabel dos Santos’ path to riches, reviewing a score of documents and speaking with dozens of people on the ground. As best as we can trace, every major Angolan investment held by Dos Santos stems either from taking a chunk of a company that wants to do business in the country or from a stroke of the president’s pen that cut her into the action. Her story is a rare window into the same, tragic kleptocratic narrative that grips resource-rich countries around the world. For President Dos Santos it’s a foolproof way to extract money from his country, while keeping a putative arm’s-length distance away." Continue reading →

Continue ReadingHow An African ‘Princess’ Banked $3 Billion In A Country Living On $2 A Day

Fukushima scientists brace for riskiest nuclear fuel clean-up yet

"The operation, to remove 400 tons of highly irradiated spent fuel beneath the plant’s damaged Reactor No. 4, could set off a catastrophe greater than any we have ever seen, independent experts warn. An operation of this scale, says plant operator Tokyo Electric Power Company, has never been attempted before. An uncontrolled leak of nuclear fuel could cause more radiation than the March 2011 disaster or the 1986 Chernobyl catastrophe. Here’s what needs to be done: more than 1,300 used fuel rod assemblies, packing radiation 14,000 times the equivalent of the Hiroshima nuclear bomb, need to carefully be removed from their cooling pool." Continue reading →

Continue ReadingFukushima scientists brace for riskiest nuclear fuel clean-up yet

Solar power to trump shale, helped by US military

"US marines go to war in Afghanistan with solar cells embedded in their rucksacks, efficient enough to recharge lithium-ion batteries for radios and greatly lighten loads. Field patrols will soon have almost weightless solar blankets as well. The US Naval Air Weapons Station already relies on a 14 megawatt array of solar panels in California's Mojave desert for a thrid of its power.The US Navy will derive half its energy supply from renewables by the end of this decade, according to a report. It may be a stretch to say that the US Naval Research Laboratory is the vanguard of the world's green revolution, but not a big stretch." Continue reading →

Continue ReadingSolar power to trump shale, helped by US military

Inside the Hyperloop: the pneumatic travel system faster than the speed of sound

"Mr Musk will not be patenting the design and it will be 'open source'. His motivation for the project came from disillusionment with the Golden State’s high speed rail project, which has been dubbed the 'bullet train to nowhere' after a series of setbacks. He believes the Hyperloop could be built for a tenth of the cost and deliver passengers between the two cities in just 30 minutes, compared to three hours for the bullet train. The bullet train is currently estimated to be costing $68 billion and may not be completed until 2028. It would reach top speeds of only around 130mph. In a survey seven in 10 people said they would 'never or hardly ever' use it anyway." Continue reading →

Continue ReadingInside the Hyperloop: the pneumatic travel system faster than the speed of sound

Bailout Buffett: The Sage of Solar

"Buffett sees the light (no pun intended). He's decided to risk his own capital to help save us from the climate. Except, in this case, 'risk' is for suckers. California utilities are under legislative mandate to get 33% of their electricity from renewable sources by 2020. Twenty-nine other states also have similar mandates. What can be better than circumventing the market, and having the law say that people must use your good or service? It's like having your own printing press! It gets even better for Buffett. Utilities are already signing contracts for the renewable energy. And guess what? The cost is way higher than current market prices." Continue reading →

Continue ReadingBailout Buffett: The Sage of Solar

Snowden downloaded NSA secrets while working for Dell, sources say

"Former intelligence contractor Edward Snowden began downloading documents describing the U.S. government's electronic spying programs while he was working for Dell Inc in April 2012, almost a year earlier than previously reported, according to U.S. officials and other sources familiar with the matter. David Frink, a spokesman for Round Rock, Texas-based Dell, declined to comment on any aspect of Snowden's employment with the company, saying Dell's 'customer' - presumably the NSA - had asked Dell not to talk publicly about him." Continue reading →

Continue ReadingSnowden downloaded NSA secrets while working for Dell, sources say

Snowden downloaded NSA secrets while working for Dell, sources say

"Former intelligence contractor Edward Snowden began downloading documents describing the U.S. government's electronic spying programs while he was working for Dell Inc in April 2012, almost a year earlier than previously reported, according to U.S. officials and other sources familiar with the matter. David Frink, a spokesman for Round Rock, Texas-based Dell, declined to comment on any aspect of Snowden's employment with the company, saying Dell's 'customer' - presumably the NSA - had asked Dell not to talk publicly about him." Continue reading →

Continue ReadingSnowden downloaded NSA secrets while working for Dell, sources say

Despite focus on right turn photo enforcement, turns on red rarely dangerous

"Lawmakers in several states have begun to crack down on excessive shortening of yellow light times at red light camera intersections, and the photo enforcement industry has responded by shifting focus to right turn enforcement. The states of Ohio and Georgia were the first to require one extra second of yellow be added to an intersection where cameras issue tickets, effectively eliminating the profit available to cities for enforcing straight-through violations at an intersection. Increasingly right-on-red ticketing has become the primary source of program revenue. In many cities, turning tickets account for up to 80 percent of tickets issued." Continue reading →

Continue ReadingDespite focus on right turn photo enforcement, turns on red rarely dangerous