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Today, the world’s largest reinsurance company released a report stating the number of weather catastrophes has risen dramatically across the globe since 1980.
‘North America is the continent with the largest increase in disasters,
You’d be forgiven for not noticing-unless you live in California, where you’ve likely been bombarded by geotargeted web ads and TV spots-but this election could spur a revolution in the way our food is made. Proposition 37 [1], a popular Golden State ballot initiative, would require the labeling of food containing genetically modified (GM) ingredients. The food and agriculture industries are spending millions to defeat it, and with good reason: As we’ve seen with auto emissions standards and workplace smoking bans, as California goes, so goes the nation.
At least 70 percent of processed food [2] in the United States contains GM ingredients. Eighty-eight percent of corn and 93 percent of soybeans grown domestically [3] are genetically modified. Soda and sweets are almost guaranteed to contain GM ingredients, either in the form of corn syrup or beet sugar. Canola and cottonseed oils also commonly come from GM crops. But if those stats make you want to run and examine the labels on the boxes and cans in your pantry, you’re out of luck. Unlike the European Union [4], the US government doesn’t require food manufacturers to disclose their use of genetically modified organisms (GMOs).
Californians appear ready to change that: An August […]
Corrections Corporation of America (CCA)’s potential Real Estate Investment Trust (REIT) conversion is not its first foray into this form: The last round resulted in prison speculation and huge financial losses for outsider investors.
Last spring, the nation’s largest private prison owner and operator, Corrections Corporation of America (CCA), announced its plan to assess the feasibility of a Real Estate Investment Trust (REIT) conversion.
Over the last quarter, Tennessee-based CCA publicized its potential REIT conversion as a way to ‘increase long-term shareholder value’ by reducing both its federal and state corporate tax liability to zero. In exchange for such a handsome tax rate, CCA must meet REIT guidelines by distributing at least 90 percent of its taxable income to shareholders annually in the form of dividends.
Although an REIT conversion would likely benefit CCA’s shareholders – 7 percent of whom are insiders – it would undoubtedly harm small communities, and states in some cases, that rely on CCA for tax revenues. By converting the company to an REIT, CCA insiders would not only slash their company’s effective tax rate from 37.2 percent (equivalent to about $92 million in 2011) to zero, but would actually pay themselves an additional $7 million next year. […]
Texans can breathe easier: the radioactive waste Halliburton fracking surveyors lost last month has finally been found.
The United Arab Emirates-based oil services company told reporters this weekend that an oilfield worker found the rod of americium-241/beryllium alongside a highway near Pecos, Texas.
Halliburton reported it missing on September 11, and members of the Texas National Guard were ultimately called up to aid their search. Halliburton said it even deployed vehicles fitted with radiation detection equipment, but found nothing on three sweeps of the area.
Americium-241/beryllium is used for a variety of industrial and medical purposes, and in this case was needed for equipment used to identify potential sites for natural gas drilling. It is a ‘Category 3