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Anonymous Coward
User ID: 294202
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11/29/2007 08:01 AM
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David Koch

David and Charles Koch own virtually all of Koch Industries, an oil, natural gas, and land management firm and the second largest privately owned company in America.[139] The brothers have a strong interest in libertarian theory; the three family foundations operated by the Kochs (the Charles G. Koch, David H. Koch and Claude R. Lambe Charitable Foundations) made possible the libertarian Cato Institute and Citizens for a Sound Economy ($6.5 million and $4.8 million contributed between 1986 and 1990, respectively).[140] Unlike the Bradley, Scaife and Olin Foundations, the Kochs focus exclusively on free-market philosophy. "My overall concept," said David Koch, "is to minimize the role of government and to maximize the role of private economy and to maximize personal freedoms."[141]

However, the Kochs do share with these foundations the conviction that the advancement of their philosophy is contingent upon investment in academia. In addition to their interest in influencing current public policy, they channel funds into fellowships, grants and scholarships to conservative university programs such as the Institute for Humane Studies at George Mason University to develop future proponents of their cause. Said John Blundell, former president of the institute (which received $2 million from Koch between 1986 and 1990, and is also supported by the Bradley and Olin foundations),[142] the Institute "looks for good young people who are going to become academics and journalists and writers and novelists and clergymen and other dealers in ideas, who have shown some interest in the ideas that interest us."[143]

The Koch family also donates substantial sums to other libertarian and free-market groups. When Clint Bolick, former director of the anti-affirmative action Landmark Center for Civil Rights, and William Mellor, former president of the conservative, pro-voucher, free-market advocacy Pacific Research Institute for Public Policy, decided to form a public-interest law firm to defend property rights and school vouchers, they went to the Koch family. The Institute for Justice was then formed with hundreds of thousands from the various Koch foundations, along with a commitment for future support.[144] Also recipients of Koch largesse are the Reason Foundation (publisher of the libertarian Reason magazine), the Illinois-based libertarian think tank Heartland Institute and the Pacific Research Institute for Public Policy.[145]

David Koch


In 1989, the Democratic-controlled U.S. Senate Committee on Investigations claimed that "Koch Oil, a subsidiary of Koch Industries, is the most dramatic example of an oil company stealing by deliberate mismeasurement and fraudulent reporting." (Palast p.150) During the Clinton administration, Koch was charged with 315 acts of pollution, especially at its Pine Bend Refinery facility in Rosemount, Minnesota. Koch Industries denied the allegations, and the cases were settled in January 2000 for $35 million in fines.

Koch was separately charged with 97 counts of covering up evidence in the case of a benzene spill of 91 metric tons in Corpus Christi, Texas.[CITE] The government sought fines as high as $350 million. Four of its employees were also charged individually with criminal offenses in the case, facing up to 35 years in prison. During this time, Koch donated $800,000 to the Bush election fund and other Republican candidates.[CITE] In 2000, the Justice Department under President Clinton reduced the number of counts from 97 to 11 to nine to seven.[CITE] Just before the case was to go to trial, the Justice Department dropped the remaining seven counts and settled the case for $20 million. Koch pled guilty to one count of concealing evidence, which they in fact had self-reported in 1996, and the criminal charges against the employees, personally, were dropped.
Anonymous Coward (OP)
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11/29/2007 08:08 AM
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Remember the dead pets from the recalled Purina food?

* 1940: Fred Koch co-founds Wood River Oil and Refining Company.
* 1946: The company acquires Rock Island Oil & Refining Co. in Oklahoma.
* 1959: The company changes name to Rock Island Oil & Refining.
* 1959: Fred Koch purchases 35% equity position in Great Northern Oil Company in St. Paul MN, sight-unseen.
* 1967: Koch's death prompts the company, now led by Charles Koch, to be named Koch Industries in honor of its co-founder.
* 1969: Charles Koch and J. Howard Marshall II pool equity positions to obtain majority of Great Northern Oil Company. After 100% equity was obtained, the refinery was renamed Koch Refining.
* 1977: Koch acquires 100% of equity in Abcor and later renamed it as Koch Membrane Systems in 1985
* 1981: The company acquires refinery in Corpus Christi, Texas, from Sun Oil.
* 1986: The company acquires the C. Reiss Coal Company.
* 1989: The company purchases the assets of the John Zink Company.
* 1992: The company acquires United Gas Pipeline.
* 1993: Elf Asphalt is acquired.
* 1997: The company acquires Delhi Group.
* 1998: Purina Mills is acquired.
* 1998: The company forms KoSa after acquiring 50 percent ownership of Hoechst's polyester division.
* 2000: A U.S. Bankruptcy court cancelled out all equity in Purina held by Koch, in order to maintain Purina's viability.
* 2001: The company partners with Entergy Corporation to form the limited partnership Entergy-Koch, which includes Koch's United Gas Pipeline subsidiary.
* 2004: Koch acquires the INVISTA fibers and resins business from DuPont. Entergy-Koch is sold.
* 2005: Koch acquires Industrie Meccaniche di Bagnolo S.p.A. and later renamed it as Koch Heat Transfer Company S.r.l..
* 2005: Koch acquires Georgia-Pacific, its largest acquisition ever, and surpasses Cargill as the largest privately owned U.S. company.

Check out 1998!