The new Rockefellers

Recently a correspondent mentioned in passing, "you'd better not say anything bad about Bill Gates." Her daughter had received tuition assistance from a Gates Foundation "charity." So I didn't tell her that schools which participate in that program aren't allowed to use Macintoshes in their classrooms.

The late 19th Century robber barons invented the modern public relations industry. Carnegie, Rockefeller, Mellon. Rockefeller had himself photographed giving dimes to poor children, and had full time employees to make sure those pictures made the newspapers and newsreels. You can bet he paid those "communications professionals" thousands of times more than he gave those children. But they weren't as effective as today's flacks, or the term "robber baron" never would have made it to public awareness.

For a long time people familiar with the computer industry knew what its leading families are like. William Gates was born into old Pacific Northwest money. Grandpa owned the biggest bank in the state and bought daddy a seat in the legislature. Mommy "sat" on several corporate boards including IBM's law firm's. A lot of us suspect she pulled the strings that led to IBM handing its monopoly off to Microsoft (stock ticker symbol MSFT). William went to an Ivy League school to network, didn't need to finish the degree. That's what rich kids do.

And the way the MSFT empire operates reflects the mentality of those born into weath. As miserly as it gets. For the empire's first decade and a half its leaders were famous for their complete lack of charitable works. They didn't even give dimes to starving urchins. Then their PR flacks talked some sense into them and they started campaigning for the Gates Foundation. And every dime that foundation hands out has strings attached designed to enhance the MSFT monopoly.

But it turns out the "charities" are more underhanded than that. They invest in the companies that create the problems their "good works" are supposed to mitigate. Recently there's been a little coverage in the trade press, and some of it has even leaked into the "mainstream" media. Here's a piece in a trade journal for "value added resellers" and systems integrators. As Prof. Chomsky reminds us, the business page is where the real news is.

 

Technorati Tags:

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Lisa in LA's picture
It was in the Los Angeles Times, too. http://polizeros.com/2007/01/12/gates-foundation-to-rethink-investments/

I don't see any suggestion in either Times article that the Gates Foundation is rethinking or changing its policy. There is an article on the front page of their site dated Jan 11 explaining why they are not changing the policy.

"While we do not anticipate any change in our approach to investments, we have not previously described in writing the philosophy of the foundation and its co-chairs."

Lisa in LA's picture

the rethink came in another article:

Gates Foundation to reassess investments

A decision to review its holdings for their social effects could lead others to rethink their policies.

By Charles Piller, Times Staff Writer

January 11, 2007

In a significant change, the Bill & Melinda Gates Foundation announced Wednesday that it would review its investments to determine whether its holdings were socially responsible.

In addition to what it called a continuing review of "our approach to investments," the foundation said on its website, "we will review other strategies that can fulfill a social responsibility role, both in terms of their aspirations and in understanding the impact that they may have."

The announcement came two days after the Los Angeles Times published the second article in a two-part investigation showing that the foundation reaps vast financial gains every year from investments that contravene its good works.

snip

[edited by admin to remove long url in text, and to correct formatting] 

Gregg Jocoy's picture
I live in a small town. "Colonel Springs" was responsible for creating the town, "Fort Mill" by creating Springs Industries, now known as Springs Global. Two of their most prominent lines are Springmade and Wamsutta. Like every southern textile giant, Springs Industries has always been anti-union to it's core. Notables include Kevin Close, chair of National Public Radio, Elliott Close, former Democratic candidate for US Senate from South Carolina, and Erskin Bowles, former candidate for US Senate from North Carolina and current chancellor of the University of North Carolina. Bowles you may also remember as Bill Clinton's chief of staff at one time.

Since those first millions were made over a hundred years ago, and I have few doubts that some of the cash is related to European enslavement of Africans, the Springs, now Close, family has lived a life of exceptional priviledge.

But most everyone from the area is impressed when their foundation gives a few tens of thousands to local charities. They even reference the family matriarch as "Miss Anne" as in "Driving Miss Daisy".

How can we expect people to advance to their rightful place in service to humanity and planet when so few start out with such advantages? And it's not just Gates in Redmond or Walton in Little Rock or Close in Fort Mill, but in every community across the nation. Some one, perhaps one out of fifty thousand, in your community is filthy rich, and got that way by rising up on the backs of both their rich parents and the poor they ground down to get that way. In Madison, GA it's the Penningtons of Pennington Seed fortune.

Inheritance taxes? Damn straight! We need 'em bad...and like yesterday!

DanE nSactomato says:

Old NW families: Weyerhauser? see if Dr Val Burris' "Power Structure Research" page can still access you to study of Weyerhauser Family Office published in old (not the recent version) "Insurgent Sociologist" journal, ca. 1976? same team also researched Rockefeller Family Office. of course Floyd Hunter's classic "Community Power Structure" remains as true today as then.

User login

AddThis Social Bookmark Button

Recent comments