Why Stock Buybacks Benefit Corporate Greed
One of my last posts touched on how corporations are spending their money, what they are doing and not doing with the piles of record profits they’ve been making in the past few years while median wages have stagnated or fallen. Here’s some additional information. First, the cites: online.wsj.com/article/SB10000872396390444657804578052472320753336.html www.thereformedbroker.com/2012/10/12/the-buyback-epidemic/ If you piece the two [...]
Income Inequality and Entry Level Wages
Evidence shows that real wages for college grads fell in 2011. More: real wages for college grads are down from 2000, and real wages for college grads are down from 2004, the trough of the Bush recession. These wages did go up–sharply–in 2005, and then began a long, not-so-slow slide from which they have not [...]
Gemma’s Jobs Plan Isn’t Right for Rhode Island
In a world where self-described “leaders” show their “leadership” largely by describing it in press releases, and politicians routinely praise their own bold choices, it is refreshing to see one who actually lives up to his own billing. Anthony Gemma, on the other hand, has a jobs plan that is indeed as “innovative, strategic, and [...]
Occupy Prov: Bail Out Workers, Not CEOs
Note: This was written by Paul Hubbard, Chris Murphy and Jared Paul. It reflects Occupy Providence’s position on the 38 Studios debacle. The die-in represents the destruction of jobs by trickle-down strategies not the workers who lost their jobs. CHANTING “MONEY for jobs and a decent wage, not for bailouts and 38,” 75 members and [...]
Spamthony Gemma: A Business Plan for RI
Greetings! My name is Spamthony Gemma. I’m running for Governor Congress because I have a scheme plan to create 10,000 jobs in Rhode Island. Rhode Island needs more businessmen like me, Mitt Romney, and Don Carcieri to get this state back on track. Let me take a moment to present you with a business opportunity. Low risk – [...]
Fixing the U.S. Post Office, and Fixing It Good
Headed down Route 2 yesterday and what did I see? About a hundred men and women in US Postal Service uniforms, demonstrating outside Senator Jack Reed’s office. What’s up? They are members of the National Association of Letter Carriers, protesting Senate Bill 1789, a plan to “fix” the post office. As you may have heard, [...]
VP Candidate Talks Politics, Race, Music at RIC Friday
There is room at every election for new voices – including the ideas of former communists and those of modern-day socialists. That’s my premise and I’m sticking to it. Well actually, I’m doing more than that this Friday at a panel discussion I’m facilitating at RI College called “Race, Politics and Music: A Look at [...]
Obama tax plan clamps down on private equity
Reviewing reports of last week, I see that buried in the details of President Obama’s corporate tax reform proposal is a rare gem. To be clear, the overall package — basically a reduction of the nominal tax rate in exchange for giving up some of the more egregious loopholes — seems an ok deal. But [...]
TOMORROW: 5th Annual Budget Rhode Map Conference
Register now for The Poverty Institute‘s 5th Annual Budget Rhode Map Conference ”From Poverty to Progress“ to hear from leading experts about the economic vitality of Rhode Island and its residents. Thursday, February 16, 2012 8:30 am: Registration and Continental Breakfast 9:00 am – 12:30 pm: Conference Rhodes on the Pawtuxet 60 Rhodes Place, Cranston, RI 02905 $35 per [...]
Fighting for Rhode Island
The last few years have been tough for our great Ocean State. Across Rhode Island, I’ve organized community dinners, main street tours, and coffee hours where I’ve heard firsthand from so many people struggling to find work, seniors worried about their Social Security and Medicare, families being crushed by unfair credit card rates, and students [...]
Hard Talk About an Ugly Economy
After several months of more-or-less positive jobs numbers in RI, the last two months have been anything but. And the December numbers were, frankly, horrific. While it is certainly true that a wonk could parse [spin] the recent down-turn toward neutral, the same could be done with the previous up-cycle. As the wonk that could [...]
AT&T/T-Mobile Merger is about jobs. What’s wrong with that?
Last week, the pretend defenders of private sector unions on Fountain Street bought the line that the AT&T/T-Mobile merger was a bad idea. Typical double speak. Here is a good counter argument from the Communication Workers of America: If you repeat a made-up falsehood over and over again, will reasonable people start to believe it? [...]
Liberals Love Profit Too
Lynn Neary of NPR recently interviewed Bill Frezza, a venture capitalist, about the business community’s responsibility for tackling unemployment. He bluntly said they didn’t have such a responsibility. Listen to the podcast here: http://gregmatos.com/blog/2011/10/liberals-love-profit-too
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