Sears has in decline for years, but its descent picked up speed the moment a hedge fund manager took over as CEO and applied all the tricks financiers have long used to extract value from a vital concern: pay cuts, disinvestment, sale of valuable assets and even setting up a sale-lease real estate deal on […]
Foxconn details: Now can we say ‘I told ya so’?
From a Washington Post blog by Danielle Paquette: The deal President Trump called “incredible” and Gov. Scott Walker hailed as a “once-in-a-century” opportunity to bring the electronic manufacturing giant Foxconn to Wisconsin wouldn’t generate profits for the state until 2042, a new legislative analysis projects. The state’s Legislative Fiscal Bureau, a nonpartisan agency that analyzes proposed economic […]
Foxconn may be coming to Wisconsin; it’s a bit of a rotten apple
In a win for the Trump administration’s bring-back-the-jobs effort, The Washington Post is reporting that FoxConn plans to build a large, new factory in Wisconsin. Foxconn is probably the largest electronics manufacturer you’ve never heard of. Based in Taiwan, it reportedly employs more than 1.2 million factory workers around the world. But it doesn’t produce products […]
How privatization is killing democracy
For years, “proponents of privatization have advanced the argument … that business will always perform a given task better than government, whether it’s running buses or schools, supplying healthcare or housing. The public sector is sclerotic, wasteful and undisciplined by the profit motive. The private sector is dynamic, innovative and, above all, efficient. A profit-driven […]
Are you ready to consider that capitalism is the problem?
In February, college sophomore Trevor Hill stood up during a televised town hall meeting in New York and posed a simple question to Nancy Pelosi, the leader of the Democrats in the House of Representatives. He cited a study by Harvard University showing that 51% of Americans between the ages of 18 and 29 no longer support […]
Efforts to save money by Dow Chemical and Shell led to poison in drinking water, lawsuits allege
For decades, Shell and Dow hid a highly potent cancer-causing chemical in two widely used pesticides, contaminating drinking water for millions of people in California and beyond, according to lawsuits detailed in a new report from Environmental Working Group. The chemical 1,2,3-trichloropropane, or TCP, was formerly an unwanted and ineffective byproduct in Dow’s Telone and […]
Quit the NRA
If you are a member of the National Rifle Association, have you seen this ad? <PLAY> Are you still a member? Why? There is no gray area on this: If you remain a member of the NRA after viewing this ad, you are supporting a call to violence by conservative white Americans against all other […]
How companies pay Amazon to kill them
It has become a truism that software is eating the world. Perhaps that now extends to Amazon’s acquisition of Whole Foods. This purchase is surely funded in part by the astronomical growth of Amazon Web Services, which is estimated to have made $14 billion in revenue last year — just slightly more than the purchase […]
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