Baby formula crisis: Abbott enriched shareholders as factory needed repairs, records show
U.S. · BUSINESS · HEALTH
May 20, 20225 min read971 words
Published: May 20, 2022  |  5 min read971 words
A deadly bacteria outbreak in baby formula and an ongoing formula shortage stem from issues some economists characterize as “rot” in the nation’s economic system: prioritization of shareholder wealth and consolidation. The embattled baby formula producer Abbott used windfall pro...
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Investigative
May 24
A very good, honest investigative look into the baby formula shortage and limited cases of bacteria entering the supply. The article mostly covers the way share buybacks are used to benefit investors rather than invest in repairs and R&D that many companies actually need, but neglect in exchange for investor returns. It also asks the question of whether or not share buybacks should be legal, as they could be considered a form of manipulation and were illegal until just 1982.
May 24
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