Home >> Author Archives: Michael Stumo

Author Archives: Michael Stumo

Fraud From The Great Wall Hits Wall Street

U.S. investors recently learned a hard lesson about Luckin Coffee, a strong rival to Starbucks in China. The company admitted that much of its 2019 sales had been fabricated. Luckin’s stock, which is listed on the Nasdaq, had peaked at an all-time high of $50 in January. Now, its shares have plummeted and U.S. banks stand to lose more than ...

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The Fight To Reshore US Pharmaceuticals

The coronavirus pandemic has revealed a troubling truth: Global supply chains operated by stateless multinational corporations simply aren’t reliable. Americans are learning this in real-time as they see imports from China cut off, particularly for critical medicines and pharmaceuticals. That has put millions of lives at risk since 90 percent of the generic medications that Americans use each day are ...

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