Category : Corporations/Corporate Life

(FT) Church of England fund becomes top world performer w yoy return on assets of 17.1%

The Church of England’s £7.9bn investment fund, which has in the past struggled to reconcile questions of morality and mammon, achieved its strongest returns in more than three decades last year, lifting it into the top ranks of the world’s best-performing endowment funds.

The Church Commissioners annual report discloses total return on assets of 17.1 per cent in 2016, with strong performances from global equities, private equity and timber.

Over 10 and 20 years, the fund returned 8.3 per cent and 9.5 per cent per annum respectively, compared with its target return of 5 per cent per annum above inflation. By contrast, returns from the Yale University endowment, top of the eight-member Ivy League, rose 3.4 per cent in the year to last June, with 10 and 20-year returns at 8.1 per cent and 12.6 per cent per annum respectively.

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Posted in Church of England (CoE), Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Ethics / Moral Theology, Stock Market

(Church Times) C of E urged to pull out of fossil fuels

CHRISTIAN AID has challenged the Church of England to disinvest from fossil fuels, after it emerged that the Archbishop of Canterbury was involved in persuading a major investment fund to pull its own money out fossil fuels.

BMO Global Asset Management’s range of “responsible” funds will no longer invest in any company which has reserves of fossil fuels, it an­­nounced on Monday. Archbishop Welby is the president of the firm’s ethical advisory council, and report­edly played a key part in pushing through the change in policy, which will be implemented by 2020.

Christian Aid is now ques­tioning why the Archbishop cannot play the same part closer to home and pull the C of E’s own investments out of fossil-fuel reserves.

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Posted in Church of England (CoE), Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Stock Market

(Economist 1843) The Law of Unintended consequences Dept–Social media is enabling a golden age of scamming

On the face of it these seem like tough times for financial scammers. The crash of 2008 burned investors, exposed fraudsters and has forced regulators to toughen up. Yet dodgy “pyramid” investment schemes that promise huge returns before inevitably collapsing are going strong, especially those targeting women. In late 2015 British regulators jailed the leaders of a plot that had duped over 10,000 women. In June 2016 authorities in Belize warned of a scam sweeping the country. America, India, Mexico and Indonesia have seen similar stories.

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Posted in Consumer/consumer spending, Corporations/Corporate Life, Ethics / Moral Theology, Globalization, Law & Legal Issues, Science & Technology

(FT) Hackers prime second classified US cyber weapon

Criminal hacking groups have repurposed a second classified cyber weapon stolen from US spies and have made it available on the so-called dark web after the success of the WannaCry attack that swept across the globe on Friday.

The hacking tool, developed by the US National Security Agency and codenamed EsteemAudit, has been adapted and is now available for criminal use, according to security analysts.

As with the NSA’s EternalBlue, the tool on which WannaCry was based, EsteemAudit exploits a vulnerability in older versions of Microsoft’s Windows software in the way in which networked machines communicate with each other.

Microsoft issued patches for vulnerable versions of its Windows software over the weekend — though experts warn many organisations have yet to apply them.

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Posted in Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Law & Legal Issues, Science & Technology

(NYT) How Google Took Over the Classroom: Are Schools giving the company more than they are getting?

Schools may be giving Google more than they are getting: generations of future customers.

Google makes $30 per device by selling management services for the millions of Chromebooks that ship to schools. But by habituating students to its offerings at a young age, Google obtains something much more valuable.

Every year, several million American students graduate from high school. And not only does Google make it easy for those who have school Google accounts to upload their trove of school Gmail, Docs and other files to regular Google consumer accounts — but schools encourage them to do so. This month, for instance, Chatfield Senior High School in Littleton, Colo., sent out a notice urging seniors to “make sure” they convert their school account “to a personal Gmail account.”

That doesn’t sit well with some parents. They warn that Google could profit by using personal details from their children’s school email to build more powerful marketing profiles of them as young adults.

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Posted in Children, Corporations/Corporate Life, Education, Science & Technology

(60 Minutes) A profile of Chobani Yogurt Founder Hamdi Ulukaya–Creating Jobs in America

Sensing an opportunity Hamdi set off to the small village of New Berlin, New York, to have a look. There he found the last employees of the last plant in the area closing it down.

Hamdi Ulukaya: I remember like yesterday. It’s like this sadness in this whole place. Like as if somebody died, like, somebody important died.

Steve Kroft: Two hundred jobs?

Hamdi Ulukaya: Two hundred jobs was gone.

Former employees Frank Price, Maria Wilcox and Rich Lake were among the mourners that day.

Rich Lake: Your whole livelihood’s gone. You don’t really know what you’re gonna do or where you’re gonna go….

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Posted in * Economics, Politics, America/U.S.A., Corporations/Corporate Life, Dieting/Food/Nutrition, Economy, Immigration, Labor/Labor Unions/Labor Market, Turkey

Easter egg row: Church of England accuses National Trust of ‘airbrushing’ religion out of children’s egg hunt

It was also met with anger by the Archbishop of York, who said the decision to remove the word Easter from the egg hunt logo was tantamount to “spitting on the grave” of John Cadbury, the chocolate firm’s original founder.

He told the Daily Telegraph: “The Cadburys were Great Quaker industrialists. If people visited Birmingham today in the Cadbury World they will discover how Cadbury’s Christian faith influenced his industrial output.

“He built houses for all his workers, he built a Church, he made provision for schools. It is obvious that for him Jesus and justice were two sides of the one coin. To drop Easter from Cadbury’s Easter Egg Hunt in my book is tantamount to spitting on the grave of Cadbury.”

Read it all from the Telegraph.

Posted in Archbishop of York John Sentamu, Church of England (CoE), Consumer/consumer spending, Corporations/Corporate Life, Easter, England / UK, Religion & Culture

(Globe+Mail) Michael Devillaer: Pot legalization: Canada doesn’t need another profit-seeking drug industry

First, the research is clear that the great majority of current drug-related harm and economic costs arise not from the misuse of illegal drugs but from legal, regulated drugs: tobacco and alcohol. The extent of harm and costs is enormous, and continues year after year.

The epidemic of opioid deaths that has been sweeping across North America had its genesis in the conduct of the legal pharmaceutical drug industry.

Second, we have a history of pan-industry failure to balance revenue interests with the protection of public health. Industries protect their revenue by disregarding existing regulations and opposing the introduction of new evidence-based reforms. They also have a history of breaking the law to maximize revenues.

Third, government has been reluctant to adopt evidence-based regulatory reforms, and the effectiveness of existing regulations is often compromised by permissive enforcement. Rarely-assessed penalties are typically insufficient to discourage recidivism. In sum, drug industry regulation is not simply less than perfect, it is seriously less than adequate, and contributes to the perennial high levels of harm from drug products.

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Posted in Canada, Consumer/consumer spending, Corporations/Corporate Life, Drugs/Drug Addiction, Ethics / Moral Theology, Health & Medicine, Politics in General

Companies doing Good(II): Google equips buses with wifi and offers computers to South Carolina students who have a long ride daily

Eighth-grader Lakaysha Governor spends two hours on the bus getting back and forth to school each day. Thanks to a grant from Google, she can now use that time more productively and get her homework done.

The aspiring forensic anthropologist is one of nearly 2,000 students in rural Berkeley County who will ride to school on one of 28, Google-funded, Wi-Fi-equipped school buses unveiled Monday.

The technology giant also has given the school district 1,700 Chromebooks, the stripped-down laptops on which many schoolchildren now do their class and homework.

As more class assignments and homework migrate online, such long bus rides have generally counted as lost time in preparing for the next school day. But Google said it hopes to help expand the use of Wi-Fi on school buses in other rural areas elsewhere around the country.

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Posted in * South Carolina, Children, Corporations/Corporate Life, Education, Science & Technology

Companies doing Good(I): Chevron Helps Father Preserve His Son’s Memory

When Chevron needed to fix up a property, it sought out the anonymous caretaker of a memorial that lie along the property’s fence, and helped that man make it a more permanent fixture.

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Posted in Children, Corporations/Corporate Life, Death / Burial / Funerals, Marriage & Family

(Economist Erasmus Blog) European Court of Justice rules Employers may sometimes ban staff from wearing headscarves

The ECJ judges were looking into the cases of a Belgian woman who was fired from her job as a receptionist at a security company after she started wearing a headscarf, and of a French IT consultant who was told to remove her scarf after a client complained, and then dismissed when she declined.

In both cases, the ECJ suggested that national courts needed to investigate further to establish whether the women had been discriminated against. In the Belgian case, the court recommended working out if there might have been a simpler solution such as transferring the employee to a role where she was not in contact with the public. Regarding the French consultant, it considered it necessary to establish whether the disciplinary action was purely a response to the client’s whim (which appeared to be the case and would be insufficient grounds for a dismissal) or a legitimate consequence of a broader policy. Taken as a whole, today’s decision upheld the right of employers to enforce ideological neutrality in the workplace as long as it was done fairly and consistently.

This marks a contrast with the thinking of America’s Supreme Court, which in 2015 vindicated a Muslim woman who had been turned down for a job by the clothing chain Abercrombie and Fitch on the grounds that her headscarf was out of step with the look the company was promoting. Since 1964, American civil-rights legislation has told employers to provide “reasonable accommodation” of their workers’ religious needs, unless it would be unbearably burdensome to do so. Today’s decision also reflected a more secularist spirit than did one by the European Court of Human Rights in 2013, which upheld the right of a Christian woman to wear a discreet cross with her British Airways uniform.

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Posted in Anthropology, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Europe, Labor/Labor Unions/Labor Market, Law & Legal Issues, Religion & Culture

(AP) Pakistan asks Facebook and Twitter to help identify blasphemers

Pakistan said Thursday it has asked Facebook and Twitter to help it identify Pakistanis suspected of blasphemy so that it can prosecute them or pursue their extradition.

Under Pakistan’s strict blasphemy laws, anyone found to have insulted Islam or the Prophet Muhammad can be sentenced to death.

Interior Minister Chaudhry Nisar Ali Khan said an official in Pakistan’s Washington embassy has approached the two social media companies in an effort to identify Pakistanis, either within the country or abroad, who recently shared material deemed offensive to Islam.

Read it all. Also, WWM has a look at Pakistan’s blasphemy laws there.

Posted in * Economics, Politics, --Social Networking, Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Ethics / Moral Theology, Law & Legal Issues, Pakistan, Religion & Culture

(AP) Besieged by Opioids, City of Everett Wash. says drugmaker knowingly let pills flood black market

As deaths from painkillers and heroin abuse spiked and street crimes increased, the mayor of Everett took major steps to tackle the opioid epidemic devastating this working-class city north of Seattle.

Mayor Ray Stephanson stepped up patrols, hired social workers to ride with officers and pushed for more permanent housing for chronically homeless people. The city says it has spent millions combating OxyContin and heroin abuse — and expects the tab to rise.

So Everett is suing Purdue Pharma, maker of the opioid pain medication OxyContin, in an unusual case that alleges the drugmaker knowingly allowed pills to be funneled into the black market and the city of about 108,000. Everett alleges the drugmaker did nothing to stop it and must pay for damages caused to the community.

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Posted in City Government, Consumer/consumer spending, Corporations/Corporate Life, Drugs/Drug Addiction, Economy, Health & Medicine

Responses to the Washington Supreme Court Ruling (2): Jacob Lupfer

The plain truth is that the Washington religious liberty case is going to be resolved in favor of the proprietor of the business, as it should be.

We need to be as deferential as we can to the rights of conscience, especially as they pertain to small/family businesses. I wouldn’t want the state to harshly fine me if I declined to arrange flowers for the Westboro Baptist Church’s annual banquet.

Progressives are fighting a losing battle, and the optics of financially ruining a 72-year-old grandmother are terrible. If progressives are on the right side of history and we are just moments away from same sex unions being celebrated as marriages by virtually everyone of every faith, then find another florist and leave this poor lady alone.

Read it all.

I will take comments on this submitted by email only to KSHarmon[at]mindspring[dot]com.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --Civil Unions & Partnerships, America/U.S.A., Anthropology, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Marriage & Family, Pastoral Theology, Politics in General, Psychology, Religion & Culture, Sexuality, State Government, Theology, Theology: Scripture

Responses to the Washington Supreme Court Ruling (1): Rod Dreher

Like I keep saying: this may not be the end of the world, but it is the end of a world. When the might of the State of Washington and the American Civil Liberties Union comes down on the head of gentle, grandmotherly, small-town florist, and seeks her ruin for declining to arrange flowers for a gay wedding, you know that we are dealing with a bottomless well of hatred. You know exactly what we are dealing with here. So, prepare. We are all going to be asked to pay the cost of discipleship. When I interviewed her last summer, Stutzman said to me: “If they can come after me, they can go after anybody.”

True. Expect no justice, tolerance, mercy, or love in these matters. The Religious Right Must Lose. Alliance Defending Freedom, the religious liberty legal organization representing Barronnelle pro bono, is taking tax-free donations to help pay for her defense. If the US Supreme Court refuses to hear the case, or rules against her, the Christian community nationwide will need to step up to pay her fine, and to reward her for having stood in the crucible and held firm, despite the contempt heaped on her head. Today its Barronelle Stutzman; tomorrow it might be you. And one day, it probably will.

I’ll say one more thing here. As regular readers know, I do not like Donald Trump and do not like the glee with which so many of my fellow conservatives view his trashing of longstanding rules and conventions of political behavior. Trump is tearing things down, but what will be left after he’s done that? Having said that, when I contemplate a system and a society that is willing to pour everything it has into crushing a little old Southern Baptist lady who arranges flowers for a living, I find that I have very little enthusiasm for defending that system. A society that would do this to a Barronnelle Stutzman is a corrupt and unjust society. At times like this, it is hard not to adopt a “let the dead bury the dead” attitude toward the whole.

Make sure to take the time to it all and watch the video.

I will take comments on this submitted by email only to KSHarmon[at]mindspring[dot]com.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, --Civil Unions & Partnerships, America/U.S.A., Anthropology, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Marriage & Family, Pastoral Theology, Politics in General, Psychology, Religion & Culture, Sexuality, Theology, Theology: Scripture