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Posts tagged: the new robber barons

aljazeeraamerica:

Opinion: The great corporate cash-hoarding crisis

A troubling change is taking place in American business, one that explains why nearly six years after the Great Recession officially ended so many people cannot find work and the economy remains frail.
The biggest American corporations are reporting record profits, official data shows. But the companies are not investing their windfalls in business expansion, which would mean jobs. Nor are they paying profits out to shareholders as dividends.
Instead, the biggest companies are putting profits into the corporate equivalent of a mattress. They are hoarding what just a few years ago would have been considered unimaginable pools of cash and buying risk-free securities that can be instantly converted to cash, which together are known in accounting parlance as liquid assets.
This is just one of many signs that America’s chief executive officers, chief financial officers and corporate boards are behaving fearfully. They are comparable to the slothful servant in the biblical parable of the talents who buries a fortune in the ground rather than invest it. Their caution, aided by government policy, costs all of us.
Continue reading

(Photo: Comstock/Thinkstock)

aljazeeraamerica:

Opinion: The great corporate cash-hoarding crisis

A troubling change is taking place in American business, one that explains why nearly six years after the Great Recession officially ended so many people cannot find work and the economy remains frail.

The biggest American corporations are reporting record profits, official data shows. But the companies are not investing their windfalls in business expansion, which would mean jobs. Nor are they paying profits out to shareholders as dividends.

Instead, the biggest companies are putting profits into the corporate equivalent of a mattress. They are hoarding what just a few years ago would have been considered unimaginable pools of cash and buying risk-free securities that can be instantly converted to cash, which together are known in accounting parlance as liquid assets.

This is just one of many signs that America’s chief executive officers, chief financial officers and corporate boards are behaving fearfully. They are comparable to the slothful servant in the biblical parable of the talents who buries a fortune in the ground rather than invest it. Their caution, aided by government policy, costs all of us.

Continue reading

(Photo: Comstock/Thinkstock)

kateoplis:

"Forty-one million IQ points. That’s what Dr. David Bellinger determined Americans have collectively forfeited as a result of exposure to lead, mercury, and organophosphate pesticides. In a 2012 paper published by the National Institutes of Health, Bellinger, a professor of neurology at Harvard Medical School, compared intelligence quotients among children whose mothers had been exposed to these neurotoxins while pregnant to those who had not. Bellinger calculates a total loss of 16.9 million IQ points due to exposure to organophosphates, the most common pesticides used in agriculture.”

This “silent pandemic” of toxins is believed to be “causing not just lower IQs, but ADHD and autism spectrum disorder.”

The Toxins That Threaten Our Brains | The Atlantic

angelaveau:

essence-of-ebony:

thoughtsofablackgirl:

YEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEESSSSSSSSSSSSSSSSSSSS!!!!!!  WHY IS THAT EVEN A QUESTION?

Without a doubt but my question is will they be safe once they get back there?

Shouldn’t even be a question. Give it back. Give everything back. 


the debate always seems to boil down to ‘but they’re safely preserved in a museum here’ and putting aside the ‘only white people can be trusted to preserve these treasures’ line which is colonialist //as hell//?  this still breaks down as, ‘do we leave them here in a museum where the masses can see them, or send them back to be possibly lost or possibly auctioned to elite white collectors’, which is to say, does the cultural and potential monetary value these objects would bring to their rightful heirs if returned outweigh //our// kids being able to see them in a museum.
the mercenary conclusion seems to always be that they will either be in a western museum, lost, or in a western private collection, and if they’re more likely to be in western hands anyways, it should be the western //public// and not the western //elite//, because it’s better to continue to deprive the people we took this stuff from of all benefit than to deprive //ourselves// of any benefit.
see also that french private auction last year? of a bunch of stolen hopi masks that they just went ahead with despite international condemnation.

angelaveau:

essence-of-ebony:

thoughtsofablackgirl:

YEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEESSSSSSSSSSSSSSSSSSSS!!!!!!
WHY IS THAT EVEN A QUESTION?

Without a doubt but my question is will they be safe once they get back there?

Shouldn’t even be a question. Give it back. Give everything back. 

the debate always seems to boil down to ‘but they’re safely preserved in a museum here’ and putting aside the ‘only white people can be trusted to preserve these treasures’ line which is colonialist //as hell//? this still breaks down as, ‘do we leave them here in a museum where the masses can see them, or send them back to be possibly lost or possibly auctioned to elite white collectors’, which is to say, does the cultural and potential monetary value these objects would bring to their rightful heirs if returned outweigh //our// kids being able to see them in a museum.

the mercenary conclusion seems to always be that they will either be in a western museum, lost, or in a western private collection, and if they’re more likely to be in western hands anyways, it should be the western //public// and not the western //elite//, because it’s better to continue to deprive the people we took this stuff from of all benefit than to deprive //ourselves// of any benefit.

see also that french private auction last year? of a bunch of stolen hopi masks that they just went ahead with despite international condemnation.

cartoonpolitics:

"Human rights are not only violated by terrorism, repression or assassination, but also by unfair economic structures that create huge inequalities." ~  Pope Francis

cartoonpolitics:

"Human rights are not only violated by terrorism, repression or assassination, but also by unfair economic structures that create huge inequalities." ~  Pope Francis

portraitsofboston:

“When people tell you that they love the new New Orleans, what they mean is that they love that the poor were kicked out and social services were eliminated so they can make more money.
A lot of people suffered because of Katrina, but even more people suffered because of political games and corruption. I believe more people died as a result of the closure of Charity Hospital than as a result of the storm.
There were so many injustices. Public housing projects were not allowed to reopen. Private landlords were not allowed to reopen affordable multifamily apartment complexes in places where working class people live. 
All this had the collective effect of denying people affordable housing and jacking up the rent for what was left. As a result, New Orleans now has the highest rental cost relative to income of any city in the country.In August of 2005, right before the storm, we had 8,000 unionized teachers. After the storm, the state legislature voted to fire all of them and replace them with non-union people. They got a lot of kids from the ritzier schools around the country coming down here as part of what was called ‘Teach for America.’ We called it ‘Scab for America.’ They were sending kids from upper- and upper-middle class background to working-class, mostly African-American schools. They didn’t know anything about New Orleans. They had no ties, no understanding. And these were kids who thought they were doing something good. I think they were being manipulated. It was simply politically advantageous for some people.
The whole country has changed. It’s not the country I was born into. When I was born, this country had the 12th highest life expectancy. By 2010, we dropped to 34th. I hear these excuses that people are fat, like me, or that they eat bad food. Well, why the hell do they eat bad food? Because it’s the only thing they can afford. They can’t buy organic or go to a nice restaurant, so they buy a hamburger. Or they don’t have the time to cook a healthy meal, so they buy a TV dinner and throw it on the plate. Americans work, work, work, work and work. They have to. Just to survive. Americans now devote a greater share of the year to labor than any other industrialized country except South Korea. It’s very hard for people to find leisure time. They ask, ‘Why are Americans so out of it?’ And stuff like that. Well, think about it: If you had no paid vacation and you had bills to pay, and if you didn’t pay them you’d be thrown out on the street, what would you be doing all day? You’d be working. So people don’t have time to read; they don’t have time to write; they don’t have time to dance; they don’t have time to think. Leisure time for the average person has almost disappeared. The whole society has been restructured and all it means is money for the wealthiest.”

portraitsofboston:

“When people tell you that they love the new New Orleans, what they mean is that they love that the poor were kicked out and social services were eliminated so they can make more money.

A lot of people suffered because of Katrina, but even more people suffered because of political games and corruption. I believe more people died as a result of the closure of Charity Hospital than as a result of the storm.

There were so many injustices. Public housing projects were not allowed to reopen. Private landlords were not allowed to reopen affordable multifamily apartment complexes in places where working class people live. 

All this had the collective effect of denying people affordable housing and jacking up the rent for what was left. As a result, New Orleans now has the highest rental cost relative to income of any city in the country.

In August of 2005, right before the storm, we had 8,000 unionized teachers. After the storm, the state legislature voted to fire all of them and replace them with non-union people. They got a lot of kids from the ritzier schools around the country coming down here as part of what was called ‘Teach for America.’ We called it ‘Scab for America.’ They were sending kids from upper- and upper-middle class background to working-class, mostly African-American schools. They didn’t know anything about New Orleans. They had no ties, no understanding. And these were kids who thought they were doing something good. I think they were being manipulated. It was simply politically advantageous for some people.

The whole country has changed. It’s not the country I was born into. When I was born, this country had the 12th highest life expectancy. By 2010, we dropped to 34th. I hear these excuses that people are fat, like me, or that they eat bad food. Well, why the hell do they eat bad food? Because it’s the only thing they can afford. They can’t buy organic or go to a nice restaurant, so they buy a hamburger. Or they don’t have the time to cook a healthy meal, so they buy a TV dinner and throw it on the plate. Americans work, work, work, work and work. They have to. Just to survive. Americans now devote a greater share of the year to labor than any other industrialized country except South Korea. It’s very hard for people to find leisure time. They ask, ‘Why are Americans so out of it?’ And stuff like that. Well, think about it: If you had no paid vacation and you had bills to pay, and if you didn’t pay them you’d be thrown out on the street, what would you be doing all day? You’d be working. So people don’t have time to read; they don’t have time to write; they don’t have time to dance; they don’t have time to think. Leisure time for the average person has almost disappeared. The whole society has been restructured and all it means is money for the wealthiest.”

If Apple, Microsoft, Google, and Cisco were to repatriate this money to the US, and if it were taxed at the current corporate rate of 35 percent, “it would produce a $89 billion windfall for the US Treasury—equivalent to 17 percent of America’s projected $514 billion budget deficit this year,” according to the report, published Wednesday by the UK’s Bureau of Investigative Journalism (BIJ). “The amount invested by Apple, Microsoft, Google, and Cisco is so large they would collectively be the 14th biggest overseas purchaser of Treasury securities, above Singapore and Norway.”
The $26.7 billion in bonuses Wall Street banks handed out just a few months ago during bonus season at the end of 2013, would be enough to more than double the pay for all 1,085,000 of America’s full-time U.S. minimum wage workers (according to a just-released study by the Institute for Policy Studies, based on new data from the New York State Comptroller).

Robert Reich (via azspot)

welp

peechingtonmariejust:

anigrrrl2:

nonlinear-nonsubjective:

candiedtyphoon:

argentknights:

WHY THE FUCK ARENT YOU SIGNING THIS PETITION
SOPA IS BACK. I REPEAT THIS IS NOT JOKE. 
Stop SOPA. SOPA stands for Stop Online Piracy Acts. In this case, all fanart will be deleted, all fan-pages, fanfics, fan made videos, etc. Please help stop SOPA.
So basically EVERYTHING WE LOVE WILL BE GONE. PLEASE SIGN THE FUCK OUT OF THIS AND SIGNAL BOOST! PLEASE IT ONLY TAKES 2 SECONDS!!!
PLEASE GUYS THE PETITION IS ONLY GOING TO BE UP FOR A WEEK!!!!! 

HERE WE GO AGAIN



Reblogging AGAIN. Come on guys! LIKES ARE NOT GOING TO DO IT.
This needs to be reblogged and it also needs to actually BE SIGNED.
Only halfway to the goal. WHAT DO YOU THINK WILL HAPPEN TO AO3!?!? It will be GONE.
Gone.

It still needs 30,000 signatures in the next 3 days! !!!

peechingtonmariejust:

anigrrrl2:

nonlinear-nonsubjective:

candiedtyphoon:

argentknights:

WHY THE FUCK ARENT YOU SIGNING THIS PETITION

SOPA IS BACK. I REPEAT THIS IS NOT JOKE. 

Stop SOPA. SOPA stands for Stop Online Piracy Acts. In this case, all fanart will be deleted, all fan-pages, fanfics, fan made videos, etc. Please help stop SOPA.

So basically EVERYTHING WE LOVE WILL BE GONE. PLEASE SIGN THE FUCK OUT OF THIS AND SIGNAL BOOST! PLEASE IT ONLY TAKES 2 SECONDS!!!

PLEASE GUYS THE PETITION IS ONLY GOING TO BE UP FOR A WEEK!!!!! 

HERE WE GO AGAIN

image

Reblogging AGAIN. Come on guys! LIKES ARE NOT GOING TO DO IT.

This needs to be reblogged and it also needs to actually BE SIGNED.

Only halfway to the goal. WHAT DO YOU THINK WILL HAPPEN TO AO3!?!? It will be GONE.

Gone.

It still needs 30,000 signatures in the next 3 days! !!!

Chevron wins Ecuador payout ruling http://www.bbc.co.uk/news/business-26442612


" Oil giant Chevron has won a US court ruling against a $9.5bn (£5.7bn) payout to residents of Ecuador’s Amazon region. Ecuadorian courts ordered Chevron to pay damages to residents of the Lago Agrio region in 2011 and 2013. They accused Texaco, now owned by Chevron, of dumping toxic waste and spilling oil over an 18-year period. But a US judge said that ruling was "obtained by corrupt means", and US courts could not be used to enforce it. "The decision in the Lago Agrio case was obtained by corrupt means," said US District Judge Lewis Kaplan. "The defendants here may not be allowed to benefit that in any way." The ruling appears to support Chevron’s claim that the Ecuadorian judgement was obtained through bribery. Legal tussle The ruling is the latest twist in the a decades-long legal battle between Texaco - which Chevron bought in 2001 - and the people of the Lago Agrio region of Ecuador. The residents claim the oil company knowingly dumped 18 billion gallons (68 billion litres) of toxic waste water and spilled 17 million gallons of crude oil into the rainforest. The affected area covers 4,400 sq km (1,700 sq miles) along the border with Colombia. A court in Ecuador found the firm guilty in 2011 and ordered it to pay $19bn in damages, although this was reduced to $9.5bn in a second ruling in 2013.
Reacting to the US court decision, Steven Donziger, legal adviser to the Lago Agrio residents, called it “appalling” and “deeply flawed”, adding that it “ignores the overwhelming evidence that Chevron committed environmental crimes and fraud in Ecuador”. “Nothing in Judge Kaplan’s ruling will prevent my clients from pursuing the judgment’s enforcement in other countries,” he added. “The villagers deserve justice.” The residents have been looking to enforce the ruling in other countries as well, including Argentina, Canada and Brazil. In December, an Ontario appeals court ruled they can seek the enforcement of the judgement in Canadian courts. Chevron has argued that Texaco spent $40m cleaning up the area during the 1990s, and signed an agreement with Ecuador in 1998 absolving it of any further responsibility. “
Chevron wins Ecuador payout ruling http://www.bbc.co.uk/news/business-26442612

image

" Oil giant Chevron has won a US court ruling against a $9.5bn (£5.7bn) payout to residents of Ecuador’s Amazon region. Ecuadorian courts ordered Chevron to pay damages to residents of the Lago Agrio region in 2011 and 2013. They accused Texaco, now owned by Chevron, of dumping toxic waste and spilling oil over an 18-year period. But a US judge said that ruling was "obtained by corrupt means", and US courts could not be used to enforce it. "The decision in the Lago Agrio case was obtained by corrupt means," said US District Judge Lewis Kaplan. "The defendants here may not be allowed to benefit that in any way." The ruling appears to support Chevron’s claim that the Ecuadorian judgement was obtained through bribery. Legal tussle The ruling is the latest twist in the a decades-long legal battle between Texaco - which Chevron bought in 2001 - and the people of the Lago Agrio region of Ecuador. The residents claim the oil company knowingly dumped 18 billion gallons (68 billion litres) of toxic waste water and spilled 17 million gallons of crude oil into the rainforest. The affected area covers 4,400 sq km (1,700 sq miles) along the border with Colombia. A court in Ecuador found the firm guilty in 2011 and ordered it to pay $19bn in damages, although this was reduced to $9.5bn in a second ruling in 2013.

Reacting to the US court decision, Steven Donziger, legal adviser to the Lago Agrio residents, called it “appalling” and “deeply flawed”, adding that it “ignores the overwhelming evidence that Chevron committed environmental crimes and fraud in Ecuador”. “Nothing in Judge Kaplan’s ruling will prevent my clients from pursuing the judgment’s enforcement in other countries,” he added. “The villagers deserve justice.” The residents have been looking to enforce the ruling in other countries as well, including Argentina, Canada and Brazil. In December, an Ontario appeals court ruled they can seek the enforcement of the judgement in Canadian courts. Chevron has argued that Texaco spent $40m cleaning up the area during the 1990s, and signed an agreement with Ecuador in 1998 absolving it of any further responsibility. “

Global stocks rally as fears lift http://www.bbc.co.uk/news/business-26445277

" Global stock markets continued to rally as tensions in Ukraine eased. In early trading on Wednesday, Asian markets climbed higher, with the Nikkei index rising by more than 1.5% by midday. US markets ended Tuesday with large gains and the S&P 500 closed at a new record high. The global rise came after Russian President Vladimir Putin said the situation in Crimea did not require military action. Mr Putin also ordered troops participating in military exercises near the border of Ukraine back to their bases. European markets also closed higher on the news, with the FTSE 100 index up 1.6% and the CAC-40 in France rising 2.3% to 4,389. "Markets are making hay," said Kathleen Brooks, market analyst at Forex.com. "

stocks are at record highs but mcdonalds et al somehow can’t pay line workers a living wage, and people are surprised that income inequality is a trending topic.

Global stocks rally as fears lift http://www.bbc.co.uk/news/business-26445277

" Global stock markets continued to rally as tensions in Ukraine eased. In early trading on Wednesday, Asian markets climbed higher, with the Nikkei index rising by more than 1.5% by midday. US markets ended Tuesday with large gains and the S&P 500 closed at a new record high. The global rise came after Russian President Vladimir Putin said the situation in Crimea did not require military action. Mr Putin also ordered troops participating in military exercises near the border of Ukraine back to their bases. European markets also closed higher on the news, with the FTSE 100 index up 1.6% and the CAC-40 in France rising 2.3% to 4,389. "Markets are making hay," said Kathleen Brooks, market analyst at Forex.com. "

stocks are at record highs but mcdonalds et al somehow can’t pay line workers a living wage, and people are surprised that income inequality is a trending topic.

McDonalds says wages could rise http://www.bbc.co.uk/news/business-26442618

" Fast food giant McDonalds has said that growing concerns over income inequality may force it to raise its wages. It said the public focus on the issue "may intensify" over the coming months. But it warned that higher wages might impact its profit margins if it cannot offset them by raising prices as well. Fast food companies have been under increasing pressure to raise wages and workers at various outlets, including McDonalds, have held strikes in recent months. In its annual filing with a US financial regulator, McDonald’s said the long-term trend was "toward higher wages and social expenses in both mature and developing markets, which may intensify with increasing public focus on matters of income inequality". "

McDonalds says wages could rise http://www.bbc.co.uk/news/business-26442618

" Fast food giant McDonalds has said that growing concerns over income inequality may force it to raise its wages. It said the public focus on the issue "may intensify" over the coming months. But it warned that higher wages might impact its profit margins if it cannot offset them by raising prices as well. Fast food companies have been under increasing pressure to raise wages and workers at various outlets, including McDonalds, have held strikes in recent months. In its annual filing with a US financial regulator, McDonald’s said the long-term trend was "toward higher wages and social expenses in both mature and developing markets, which may intensify with increasing public focus on matters of income inequality". "