The L.A. Times is running a piece titled Dark cloud over good works of Gates Foundation - Los Angeles Times which is getting some play on the blogs.

Look, this has nothing to do with the digital world as I've narrowly defined it here, but please, give the foundation a break. Here's a choice quote...

Like most philanthropies, the Gates Foundation gives away at least 5% of its worth every year, to avoid paying most taxes. In 2005, it granted nearly $1.4 billion. It awards grants mainly in support of global health initiatives, for efforts to improve public education in the United States, and for social welfare programs in the Pacific Northwest.

It invests the other 95% of its worth.

THE HORROR!!! This section of the story is titled "Investing for profit", as if that was some headline in itself. Incredible, surely. Just caught during dinner a bit on CNN where people apparently are questioning Oprah Winfrey's $40 million school built in Africa too. Think that the money could have done more good work used differently (probably right) and should have been spent in the US, not Africa (which boils my blood a little).

People, how many of you are even making 5% on your savings? Even then, that would imply the Foundation is breaking even, and we know money makes money. You can get a pretty good return on a $35 billion 12-month CD.

Even more importantly, how many people are giving away 5% of what they make each year? I'll try not to get too Baptist on anyone here, but any entity, fictitious or no, that gets even half-way to what one should be parceling out gets a kind nod from me.

(For now, I'm blogging off of the first page, and assuming that the Foundation doesn't get to get liquidated in 90 years and given to little Gateses. I'm pretty confident doing so would cause the non-profit to owe just a tad in back-taxes. I'll read the rest if the L.A. Times ever sends my mailinator account the registration instructions.)

Down off the soapbox now. You may now charge me with any seditious speech starting with what I say... now.

How bout them Mets, eh? Hope Pedro makes it back.