Bono Sells Out Again

I didn't want to believe my favorite band was a sell out. But, in the past two years I have watched Bono suck up to leaders such as Bush and Blair. The very men that invaded Iraq and solely responsible for the killing of many innocent men, women and children in the Middle East. These men are liars. Now, I see Bono is just another capitalist whore. What brought me to this breaking point was a story I read today on MSNBC:

NEW YORK - A private equity firm that has U2 rock star Bono among its partners Thursday joined forces with two of North America's hottest video game developers, Pandemic Studios LLC and BioWare Corp., creating one of the world's largest independent game-development houses.
In its first investment, one-year-old Elevation Partners said it had created a holding company that owns Pandemic and BioWare but ensures the developers retain their identities and gives them the funds and time to build top-quality games.
The $300 million deal came after California-based Elevation earlier this year bid for British computer games maker Eidos Plc. , the firm behind "Tomb Raider," but was trumped by UK's SCI Entertainment Group Plc.
"The aim is to create bigger and better games and a company that the best talent will really want to work for," Elevation co-founder John Riccitiello told Reuters in an interview.
Analysts said the deal was interesting as it sidestepped the traditional relationship in which developers were dependent on firms that publish their games for funding.
Riccitiello declined to break down the combined investment of $300 million in the joint venture, BioWare/Pandemic Studios, or the shareholdings of each of the three parties, but said Elevation would be the majority stakeholder.
Edmonton, Canada-based BioWare is a celebrated developer of story- and character-based role-playing games such as "Star Wars: Knights of the Old Republic" and "Jade Empire."
Pandemic is newer, with offices in Los Angeles and Brisbane, Australia, but has won respect among game players for its big-selling action and adventure titles, such as "Full Spectrum Warrior" and "Destroy All Humans."
Elevation Partners' interest in investing in games has come as no surprise as Riccitiello is former president of video game publisher Electronic Arts Inc.
Riccitiello said the attraction of BioWare and Pandemic was the quality of their games, none of which have come under public fire for their violence despite their titles.
He said Bono, a passionate advocate on Third World debt and anti-poverty issues, was a big fan of Pandemic's games, particularly "Destroy All Humans," a quirky game in which the player is a Martian trying to destroy Earth.
Under the terms of the deal, both video game companies will retain their separate brands and creative teams and continue to operate in their respective cities. But the two co-founders of each company will become shareholders and senior executives in holding company BioWare/Pandemic Studios.
Riccitiello will be the new company's chief executive.
All 450 employees will be given stock in the business.
Ray Muzyka, joint CEO of BioWare, said the alliance would be a launch pad for exchanging ideas, technologies and talent.
"In a business where developers often must sell out to survive, this deal is refreshingly new: a partnership of equals," Muzyka said in a statement.
Analysts said the one reason for the alliance could be to pressure higher royalty rates from the firms publishing Pandemic and BioWare games Microsoft Corp. , George Lucas' privately owned Lucas Arts and THQ Inc.
"Video gaming is a pretty profitable industry, but the talent is unknown and the lion's share goes to the publisher. There is a move now to change this," said analyst Michael Pachter, from Wedbush Morgan.
"If this deal succeeds it could encourage more independent developers to do the same and encourage more venture capital firms to invest in this industry."
Riccitiello denied this was a reason for the deal and said the firms' relationships with current publishers remained.
Since Elevation was formed it has raised over $1.9 billion to invest in media and entertainment businesses.

This evidently is an older story from November, but it has just been brought to my attention. How can Bono try and sell us the "save Africa, make poverty history", then invest in video games that have no moral content. If you have the morals of a thug, prositute, and criminals I guess. How could Bono invest in games that have mercenaries and war? This world needs saved from ignorance and I think one of the main problems with society and children are these video games that promote violence, the abuse of women, and make people desensitized to war and killing. I think we have been hoodwinked. My heart is breaking, really just shattered. To think there were real people out there that were making a difference, but in actuality they speak out of both sides of their mouths. Bono is a capitalist. Now I know how he bought his new yacht. Wtg Bono!!! You have become the very person you told us to be aware of. I wish I could get the money back I paid for 10 concerts and countless cds and records. I should have seen the signs of what was to come when U2 started charging $40.00 a year to subscribe to their website. I made this man a very rich guy, so I guess I am the stupid one in this situation. It's a doggy dog world and now I have woken up from this dream. Everyone is out for themselves. Like I always say....the elite become richer, and the poor poorer. Be aware of false icons folks, they are among us.
Whether the Belfast Telegraph believes the controversy is a mistake or not, if you invest in companies and you are so "aware", you should keep track of your investments.
http://www.belfasttelegraph.co.uk/news/story.jsp?story=697665

Bono drawn into dispute over computer game
By Andrew Buncombe06 July 2006
The Irish rock star Bono has been unwittingly caught up in a row over a computer game that features a fictionalised invasion of Venezuela to counter a “power-hungry tyrant” who has seized control of the country and its oil.
The computer game is played from the perspective of a mercenary who is dispatched to Venezuela with the guidance: “If you see it you can buy it, steal it, or blow the living crap out of it.” Called Mercenaries 2: World in Flames, it is made by Pandemic Studios, based in Los Angeles, in which a private equity firm established by the U2 lead singer has invested $300m (£165m). It is one of the world’s largest independent games producers.
In Venezuela, political supporters of President Hugo Chavez have reacted angrily to news of the game – reportedly due for release next year – and called for it to be banned. Gabriela Ramirez, a member of the National Assembly, told the Associated Press that it incorrectly portrayed Mr Chavez as a tyrant and Venezuela as a country on the verge of chaos.
“It sends a message to Americans, ‘You have a danger next door, here in Latin America, and action must be taken’. It’s a justification for an imperialist aggression.”
In the US, activists are dismayed that a man who has campaigned on Aids and poverty should be linked, however unwittingly, to a product that makes entertainment from the destruction of an independent country.
Shirley Pate, of the Venezuelan Solidarity Network in Washington, said: “[The game shows] an attack on the entire city of Caracas, not just the government buildings but also the residential areas.”
Gunnar Gundersen, a member of the Bolivarian Circle movement in Oregon, said: “We have family and friends in Venezuela and many of us have walked and stayed in the places featured in the war game. To us, these are not just clever abstract pictures.”
Pandemic Studios has a reputation for the realism of its games. It has also produced Full Spectrum Warrior, a game that was initially made for the US Army to train soldiers in urban warfare techniques.
No one from Pandemic Studios or Elevation Investment was available for comment yesterday. A spokesperson for Bono failed to return calls.
However, on an online games forum, Scott Walker, the chief designer for the game, recently wrote: “[This] is a work of fictional entertainment. The story, characters and setting of the game should in no way be construed as negative towards the current Venezuelan government or the people of the country.
“One of the key reasons Venezuela was chosen for the setting of Mercenaries 2 is that is a fascinating and colourful country, full of wonderful architecture, geography and culture.”
Earlier this year, Mr Chavez started recruiting and training a people’s militia to help lead a “war of resistance” against what he claims was the threat of an invasion by the US. The US has repeatedly denied the allegation.
Mr Chavez, who was first elected in 1998, survived a short-lived coup in 2002. The US has given hundreds of thousands of dollars to his political opponents, including those who were involved in the coup.
His presidency has seen improvements in literacy and health care and a reduction in poverty, but he has also been accused of increasingly tightening his control of state institutions and introducing measures that could stifle the largely opposition-owned media..

Story from the Belfast Telegraph .


Bono created a company with his wife Ally to help the people in South America have equal trade, now I can only wonder if that was a smokescreen to cover up the fact of his other investments. He sure is learning alot from his neocon friends.