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Economy
In reply to the discussion: Weekend Economists Get Syri-ous August 30-September 2, 2013 [View all]Demeter
(85,373 posts)60. AMERICAN LABOR DAY SUBTHREAD--OH, YEAH, GUESS IT SHOULD BE MENTIONED IN PASSING...
Want a Job Where You Can Fail and Still Get Paid Lavishly? Try Corporate CEO By Pratap Chatterjee
http://www.theguardian.com/commentisfree/2013/aug/28/highest-paid-ceos-bailed-out-recession
Shouldnt we be asking companies boards of directors to tighten the rules on CEOs to make sure they dont fail at such an astounding rate?
Spare a thought this Labor Day holiday, when you fire up the barbecue for the last weekend of the summer and raise a beer for the workers in this country, for some of the notable men who have lost their jobs over the past 20 years. I'm thinking of Richard Fuld, Dennis Kozlowski and Eckhard Pfeiffer.
They aren't union leaders who were fired for organizing for better wages or men who lost their jobs to sweatshop labor in Bangladesh. They aren't even the engineers who have been put out to rust by robot-run assembly lines. They don't really number among the almost 20 million who are estimated to be unemployed or underemployed.
No, these three names popped up in a review of the "Bailed Out, Booted and Busted" a study released Wednesday by the Institute of Policy Studies in Washington DC of the 241 people who have ranked as the highest paid CEOs in the US in the past two decades.
An astonishing 38% of these titans of finance and industry have either been kicked out of their jobs, put in jail or had to have their companies be rescued from bankruptcy. Fuld, Kozlowski and Pfeiffer are three that top the list.
MORE SYNOPSIS AT LINK
Is the Affordable Care Act Actually Affordable? For Millennials, Maybe Not By Alyssa Figueroa
Young people are financially stretched as it iswill they be able to help chip in to the new health system?
...as the October enrollment date nears, the administration may see fewer young adults sign up than it hoped.
I imagine young adults mostly wont like it, said Benjamin Day, the director of organizing for Healthcare Now!, a grassroots organization advocating for a single-payer healthcare system in the United States. And not because they dont want insurance or they need insurance I think they are going to see it as a burden because it is just so expensive.
Conservatives have been increasingly using this factor to generate disdain for Obamacare among young people. The conservative Heritage Foundation targeted young people in a Buzzfeed post gifs and all titled, That One Time I Was Really, Really Excited About Obamacare. Meanwhile, liberals are hoping to enlighten millennials and push them to purchase healthcare. After all, the Commonwealth Funds recent report found only 27 percent of 19- to 29-year-olds were aware of the marketplaces. But this push is often made without an analysis of young peoples burdens. One article by Brian Beutler on Salon even argued that young adults should purchase healthcare to disprove their selfish stereotype and help out the country. He wrote: Theres a more selfless reason they should enroll one they might not be aware of, but that will nevertheless put the proposition that millennials are shiftless, selfish people to the test: The system needs their participation, in order for it to succeed.
But its perplexing to imply that young adults who dont buy into the marketplace are selfish when they don't have the money to do so mainly because of their countrys failure to address their needs. Only 5 percent of working adults ages 19 to 29 said they didnt join their employers healthcare policy because they believed they didnt need it, while 22 percent said the coverage was too expensive. (The rest of those surveyed already had health insurance through a parent or spouse.) ..
NOW THAT'S THE TRILLION DOLLAR QUESTION! NOT SURE THEIR PARENTS CAN AFFORD IT, EITHER.
http://www.theguardian.com/commentisfree/2013/aug/28/highest-paid-ceos-bailed-out-recession
Shouldnt we be asking companies boards of directors to tighten the rules on CEOs to make sure they dont fail at such an astounding rate?
Spare a thought this Labor Day holiday, when you fire up the barbecue for the last weekend of the summer and raise a beer for the workers in this country, for some of the notable men who have lost their jobs over the past 20 years. I'm thinking of Richard Fuld, Dennis Kozlowski and Eckhard Pfeiffer.
They aren't union leaders who were fired for organizing for better wages or men who lost their jobs to sweatshop labor in Bangladesh. They aren't even the engineers who have been put out to rust by robot-run assembly lines. They don't really number among the almost 20 million who are estimated to be unemployed or underemployed.
No, these three names popped up in a review of the "Bailed Out, Booted and Busted" a study released Wednesday by the Institute of Policy Studies in Washington DC of the 241 people who have ranked as the highest paid CEOs in the US in the past two decades.
An astonishing 38% of these titans of finance and industry have either been kicked out of their jobs, put in jail or had to have their companies be rescued from bankruptcy. Fuld, Kozlowski and Pfeiffer are three that top the list.
Outrageous pay packets seem to encourage outrageous behavior, says Sarah Anderson, one of the authors of the new report.
MORE SYNOPSIS AT LINK
Where Have America's Wages Gone? By Richard Eskow
http://www.alternet.org/economy/where-have-americas-wages-gone?akid=10870.227380.nu_TMc&rd=1&src=newsletter890330&t=22
Things won't start looking up for most Americans until most Americans send a clear message to their leaders: It's no longer acceptable to favor the few at the expense of the many....
...As Mishel and Shierholz note, "The wage-setting mechanism has been broken for a generation but has particularly faltered in the last 10 years ..." Corporate profits have reached historic levels and the top one percent of earners have captured virtually all income growth.
We don't have a problem of inadequate wealth. The problem is inadequate wealth distribution. For 99 percent of Americans, wage growth has lagged significantly behind increases in productivity. As the authors note, this is true "regardless of occupation, gender, race/ethnicity, or education level." Since the Great Recession productivity has grown by 7.7 percent, while wages have actually fallen for the bottom 70 percent of earners.
What's more, as Mishel and Shierholz observe, "This lost decade for wages comes on the heels of decades of inadequate wage growth." Between 2001 and 2012 productivity grew by 22.2 percent, while wages grew only 0.8 percent. This was "the norm in white-collar, blue-collar, and service jobs, with little variation among occupational categories." ....
MORE
Richard (RJ) Eskow is a blogger and writer, a former Wall Street executive, a consultant, and a former musician.
http://www.alternet.org/economy/where-have-americas-wages-gone?akid=10870.227380.nu_TMc&rd=1&src=newsletter890330&t=22
Things won't start looking up for most Americans until most Americans send a clear message to their leaders: It's no longer acceptable to favor the few at the expense of the many....
...As Mishel and Shierholz note, "The wage-setting mechanism has been broken for a generation but has particularly faltered in the last 10 years ..." Corporate profits have reached historic levels and the top one percent of earners have captured virtually all income growth.
We don't have a problem of inadequate wealth. The problem is inadequate wealth distribution. For 99 percent of Americans, wage growth has lagged significantly behind increases in productivity. As the authors note, this is true "regardless of occupation, gender, race/ethnicity, or education level." Since the Great Recession productivity has grown by 7.7 percent, while wages have actually fallen for the bottom 70 percent of earners.
What's more, as Mishel and Shierholz observe, "This lost decade for wages comes on the heels of decades of inadequate wage growth." Between 2001 and 2012 productivity grew by 22.2 percent, while wages grew only 0.8 percent. This was "the norm in white-collar, blue-collar, and service jobs, with little variation among occupational categories." ....
MORE
Richard (RJ) Eskow is a blogger and writer, a former Wall Street executive, a consultant, and a former musician.
Is the Affordable Care Act Actually Affordable? For Millennials, Maybe Not By Alyssa Figueroa
Young people are financially stretched as it iswill they be able to help chip in to the new health system?
...as the October enrollment date nears, the administration may see fewer young adults sign up than it hoped.
I imagine young adults mostly wont like it, said Benjamin Day, the director of organizing for Healthcare Now!, a grassroots organization advocating for a single-payer healthcare system in the United States. And not because they dont want insurance or they need insurance I think they are going to see it as a burden because it is just so expensive.
Conservatives have been increasingly using this factor to generate disdain for Obamacare among young people. The conservative Heritage Foundation targeted young people in a Buzzfeed post gifs and all titled, That One Time I Was Really, Really Excited About Obamacare. Meanwhile, liberals are hoping to enlighten millennials and push them to purchase healthcare. After all, the Commonwealth Funds recent report found only 27 percent of 19- to 29-year-olds were aware of the marketplaces. But this push is often made without an analysis of young peoples burdens. One article by Brian Beutler on Salon even argued that young adults should purchase healthcare to disprove their selfish stereotype and help out the country. He wrote: Theres a more selfless reason they should enroll one they might not be aware of, but that will nevertheless put the proposition that millennials are shiftless, selfish people to the test: The system needs their participation, in order for it to succeed.
But its perplexing to imply that young adults who dont buy into the marketplace are selfish when they don't have the money to do so mainly because of their countrys failure to address their needs. Only 5 percent of working adults ages 19 to 29 said they didnt join their employers healthcare policy because they believed they didnt need it, while 22 percent said the coverage was too expensive. (The rest of those surveyed already had health insurance through a parent or spouse.) ..
NOW THAT'S THE TRILLION DOLLAR QUESTION! NOT SURE THEIR PARENTS CAN AFFORD IT, EITHER.
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