Friday, September 14, 2007

Pfizer justifies child deaths

This reads like a scene out of a movie.

Pfizer has been accused of conducting improper drugs trials on children. About 200 kids in Nigeria's north-western Kano State took part in trials for an anti-meningitis drug in 1996. Officials in Kano say more than 50 children died in the experiment, while many others developed mental and physical deformities. Pfizer says only 11 of the 200 children in the drug trial died. The Nigerian government's expert medical panel concluded that the experiment was "an illegal trial of an unregistered drug" and a "clear case of exploitation of the ignorant". (The original articl can be found here: http://news.bbc.co.uk/2/hi/africa/6241322.stm)

Its pretty twisted when a global pharmaceutical firm does this kind of stuff. Aren't these folks supposed to be about protecting life, not destroying it? Are Pfizer shareholders really that greedy that they would be willing to look the other way to justify an additional couple of percentage points growth? This devaluing of life is sickening to witness. With all the advances in technology, medicine, and living standards, are we really moving forward? Or are we giving up our humanity with each new scientific achievement?

Saturday, September 1, 2007

Making Money Online

Its interesting how easy it is to make a few bucks selling stuff online. For example, I setup an eBay store a couple of months ago. You can check out my eBay store, (stores.ebay.ca/Bamboo6-Kids) here. I've actually been making a few sales. nothing that's going to make me quit my day job, mind you, but still reassuring and produces a bit of pocket change. What I've found though is that it takes a hell of a lot of time to setup the product and process the sale. That's what happens when you setup your store on the cheap rather than paying the professionals. But - even though its time consuming, keep in mind, its easy!

That said, a colleague of mine has done it in a much more professional, and much more structured manner. Their site, ochanga.com is beautifully done, their product is premium, and the business model is very low maintenance. Drop shipped product, virtual office, standardized imagery from the product manufacturers. Excellent.

One key difference between the two is type of committment. My colleague has willingly invested the time in preparing a strong business model, the seed capital necessary to structure their business properly, and designed an excellent storefront to showcase their wares. Much different from my simple approach of selling through eBay. If you are willing to invest the time and money, and have a good product idea, then I think the ochanga.com model is an excellent one to follow.

Depending on your tax bracket and the profitability of your business, a home based business may be an interesting side venture, considering the tax benefits that such a venture allows you to realize.