GM versus Decode Genetics rescue and continued financing !
About the landmark work that deCODE Genetics is carrying out in Iceland...
Unfortunately, this trailblazing company has overextended itself by taking on far-reaching research projects based on the analysis of genetic factors linked to the development of a wide range of human diseases.
deCODE announced on March 31, 2009 that it has run out of funds, is probably no longer a "going concern," and that it will now be divesting its various business units if possible.
Let me make a simple point.
deCODE Genetics is carrying out work that will benefit all of humanity for millennia to come.
General Motors has overextended itself by paying premium salaries to its employees and offering excessive bonuses and other perks to its executives and managers for decades, leading it into an unsustainable business situation.
However, here is the difference. deCODE Genetics overextended itself doing work that will potentially aid every human being on this planet.
GM overextended itself by diverting its revenues to its executives and frontline workers at the expense of operating a profitable business for the benefit of its shareholders.
Rescuing deCODE Genetics would provide lasting benefits to every one of us and all of our descendants.
Rescuing GM will preserve a corporate dinosaur with a legacy of decades of horrible business practices.
I'm serious, let's reorganize the multi-trillion dollar financial rescue programs now being advanced by every Western government and fund the continuing operations of deCODE Genetics - thereby permitting GM to bear the natural consequences of its lengthy and well-documented history of mismanagement.
Somebody else will manufacture the cars and trucks we need if the inefficient automakers are let go.
By way of contrast, if deCODE Genetics goes out of business, important work to promote human health and wellbeing will be delayed for years if not decades to come.
Our priorities are simply wrong.
Here's a desperate suggestion to save deCODE, as no politician in any party is likely to adopt the rational course of action that I am proposing.
Let's set deCODE Genetics up as a registered international charitable foundation. I for one would contribute voluntarily to preserve and promote the work of this wonderful company. deCODE Genetics stands head and shoulders above General Motors by every standard that I can think of. I would rescue this company personally if I only had the means to do so! I wish a few more politicians thought in the same way that I do....
In the interim, I urge those who are interested to consider taking advantage of the innovative "deCODE Me" personal genome scan service now being offered by this company. Believe me, science fiction has now come to life, and the deCODE team are perhaps the leading pioneers in the visionary and critically important field of personal genetic analysis!
(On a side note - notice from deCODE today that they have received the personal genetic samples necessary to begin personal Cardio Scan. )
By Henry C K Liu
Part 1: The song stays the same
Part 2: A dangerous balance
Part 3: The New Deal dollar and the Obama dollar
Larry Summers, US Treasury secretary under president Bill Clinton and now President Barack Obama's top economic advisor and director of the White House National Economic Council, has proposed a multilateral approach to deal with multilateral global economic problems that would involve a new grouping larger than the Group of Seven richest nations with advanced economies. This moves in the opposition direction of the geopolitical call by Zbigniew Brzezinski for Washington and Beijing to set up an informal Group of Two (G-2), involving only the US and China, in a leadership bid to jointly address a wide range of global challenges of bilateral interests....