Thursday 28th of November 2024

false fronts .....

false fronts .....

It's none of my business, but maybe you have Northern tissue on your toilet roll. You might also buy Brawny paper towels, Dixie paper cups, and Vanity Fair napkins. Maybe you have clothing that owes its clingy and comfy stretchiness to Lycra, and perhaps you have a Stainmaster carpet or a Solarmax couch in your home.

All of these well-known brands are owned and produced by a global conglomerate that deliberately tries to stay little known: Koch Industries (pronounced "coke"). Based in Wichita, Kansas, Koch is also a major producer of oil, gas, timber, coal, and cattle. It's a petroleum refiner, too, as well as a manufacturer of asphalt, chemicals, polyethylene plastic, nitrogen fertilizers, cement, and lumber products. It owns or controls some 4,000 miles of pipelines, including a piece of the Trans-Alaska Pipeline. And, in a poetic bow to its desire for anonymity, Koch also owns Teflon.

With 70,000 employees in 60 countries, this publicity-shy giant is America's second-largest privately owned corporation. Being private means it makes very few disclosures about its finances and operating practices, but we do know that it has sales topping $100 billion a year, which means it is bigger than such corporate giants as Verizon and Morgan Stanley.

Charles and David Koch, who control this family-owned empire, are tied for a spot as the 19th-richest billionaire in the world, according to a 2009 ranking by Forbes. Each brother has a net worth of $14 billion, just below the wealth held by four heirs to the Wal-Mart fortune. Charles, 73, and David, 68, boast of being "self-made" billionaires. Actually, that's a fib, for they had a little help from Daddy. Fred Koch, who died in 1967, started his name-sake business after inventing a method of turning heavy oil into gasoline, and his sons got a leg up on their climb to billionairedom by inheriting Fred's company.

http://www.alternet.org/story/146094/hightower%3A_two_right-wing_billionaire_brothers_are_remaking_america_for_their_own_benefit?page=entire