Category: Economy
Why CEOs Aren’t Celebrating
by Sam Pizzigati | Oct 28, 2013 | EconomyIn 1930, an obscure lawsuit against Bethlehem Steel unearthed a piece of corporate data that would quickly outrage Great Depression-era America. Bethlehem CEO W.R. Grace, Americans learned, had grabbed $1.6 million in personal compensation the year before. That revelation would soon help fix a variety of new regulations on America’s corporate executive suites, including a […]
The Only Industry Allowed to Gouge Its Workers
by Saru Jayaraman | Oct 23, 2013 | EconomyI love going out to eat. I love experiencing new meals and returning to tried-and-true favorites. Given the growing number who regularly eat out, I’d say most of America feels the same way. Until recently I shared something else with most of America: for all the hundreds of restaurant meals I had eaten, I knew […]
Ending Extreme Poverty Is a Matter of Political Will
by Sam Pizzigati | Oct 20, 2013 | Economy(Source: Amy Lyne) The folks at Rolls-Royce have just opened a brand-new dealership—in the poverty-stricken Philippines. This nation of nearly 100 million people now hosts 334 deep pockets worth at least $50 million, more than enough, the Rolls-Royce CEO noted earlier this month in Manila, to guarantee a robust market “for the ultimate in super […]
The True Cost of the Shutdown
by Rob Larson | Oct 17, 2013 | Economy(Source: Emmanuel Saez) With the government set to reopen and the threat of default evaded for now, fears are emerging that the resulting fiscal austerity and financial uncertainty may have seriously weakened the recovery (by as much as $24 billion). But it’s worth looking at exactly what’s being jeopardized. Independent of the GOP’s games of […]
Are Walmart’s Profit Too Small to Raise Worker Wages?
by Alejandro Reuss | Oct 9, 2013 | EconomySince last summer, workers at some of the largest and highest-profile low-wage employers in the U.S.—like Walmart and McDonald’s—have joined an open struggle for higher wages, better working conditions, and an end to abusive (and sometimes illegal) treatment. It seems that commentators unsympathetic to workers employed by Walmart are cherry-picking the figure that […]