News

Was Walmart Responsible for the Opioid Crisis?

0

The opioid epidemic still remains unsolved to this day, with Purdue Pharma only recently closing down after the authorities found they were guilty of intentionally fueling the flames of opioid addiction nationwide. 

But according to a new civil lawsuit filed by the Department of Justice, it appears as if Walmart may have been another big player. From The Financial Times:

“The US government is targeting the country’s largest retailer for billions of dollars in damages relating to the epidemic of opioid addiction, saying Walmart unlawfully filled out prescriptions for painkillers that it should have known did not have a legitimate medical purpose.

If the retailer is found liable, it could face penalties of up to $67,627 per unlawful prescription that its pharmacy dispensed, and up to $15,691 for each suspicious order that its distributor did not report.

Officials accused Walmart of putting pressure on staff to dispense as many drugs as possible, making it ‘exceedingly difficult for its pharmacists to comply with their legal obligations’”.

I’m not the biggest defender of corporations, but Walmart has every right to respond if they feel they are being wrongfully targeted. Although their immediate jump to blame medical doctors for the numerous prescriptions of opioids seems fishy to me. 

We’ll report back to you with more breaking news on this story as it comes our way…

Coca-Cola Slashes 2,200 Jobs… 12% of Their ENTIRE Workforce in America!

Yet another instance of multi-national corporations axing jobs during a pandemic in order to “cut costs” and stay as lean as possible…

According to news from CNN, the latest example happens to be soda drink giant Coca-Cola after suffering losses of 9% in quarterly net revenues to $8.7 billion. Apparently, when you close restaurants down, big-name drinks can no longer be sold:

“Coca-Cola is planning to cut 2,200 jobs, including 1,200 in the United States, as it faces declining sales during the pandemic.

In the United States, where there were about 10,400 employees at the end of last year, the cuts represent roughly 12% of the workforce. In Atlanta, where the company is headquartered, about 500 jobs are being eliminated, the company said Thursday.

The reductions include voluntary and involuntary separations, and the severance packages are expected to cost the company between $350 million and $550 million.”

That’s on top of eliminating over 200 brands from their portfolio, doubling down instead on the most popular products that directly fall under their name. 

I think this is common knowledge by now, but it is worth re-iterating: 

CORPORATIONS ARE NOT YOUR FRIENDS AND THEY DO NOT CARE ABOUT YOU ONE SINGLE BIT!

Disney’s Laying Off Tens of Thousands of Workers… but at Least Disney+ Is Successful!

It’s funny how Disney has managed to survive the pandemic: While they’ve experienced numerous losses across their in-person sector and had to lay off tens of thousands of hard-working employees, their “Disney+” streaming service launched in November of last year has been a meteoric success.

Just take a look at some of these staggering numbers…

  • $1.94 billion in revenue projected for 2020
  • 86.6 million paying subscribers acquired in its first year of existence
  • $4 billion in annual revenue is projected over the next two years
  • Subscriber base projected to be 194 million by 2025
  • Subscriptions are going to increase from $7/month to $8/month in March 2021

That’s more than enough for them to be a viable competitor against streaming giant Netflix, which is projected to generate $12.95 billion in revenue by the end of 2022. 

Disney’s exclusive catering towards family-friendly programming, combined with the COVID-19 pandemic locking people in their homes, has led to accelerated growth that easily dwarfs their rivals that have been around for much longer. 

If they could find a way to use some of those billions of dollars in profit to help their laid-off workers, this would be a much more exciting story to share with you…

admin

FTSE 100 Slips as Pound Weighs, Midcaps Gain

Previous article

Indian Shares Jump on Reliance, Financials Boost

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News