Fri, 20 Feb 2004

Monsanto Grows a Money Tree

Monsanto isn't "winning" on technical merit , nor is it winning in the market. It's winning in the political process, convincing regulators to basically only look at the potential short term effects of such genetic manipulations and ignore or discount any possible long term hazards.

It's one of the great mistakes of our age: long term has come to mean the next year. We seem to be incapable of thinking ahead, past the next quarterly profit statement. And I fear we'll pay for it.

Critics claim the company unfairly uses its muscle to control the world's food supply. Still, the agriculture powerhouse is poised to reap a biotech bonanza: This year's gross profit is projected at $1.2 billion.

(link) [Wired News]

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