Though technology and innovation have squeezed trading costs, the industry's profits are accounting for a bigger share of U.S. GDP, a former Goldman banker says, needlessly diverting some $635 bln from the broader economy. It lends credence to ideas like a transaction tax.
Women remain a scarcity in the top rungs of Corporate America. Females held only 14.3 percent of executive officer positions at Fortune 500 companies in 2012, a smidge more than in 2011, according to 2012 Catalyst Census, a report from nonprofit Catalyst, which promotes women in business. Women at these companies also only held fewer than 1 in 5 board of director positions, at 16.6 percent—reflecting only half a percentage point of growth over 2011. And more than one-quarter of Fortune 500 companies had no women executive officers.
To hear the media tell it, all eyes are on the fiscal cliff. Which side is compromising and which side isn't? Which side's numbers add up? How can votes in the House and the Senate be structured for maximum political gain? What will the deal ultimately be? And, most important, which side will win and which side will lose? Is this great drama gripping the entire nation? Actually, only Washington and the media are transfixed.
The Coalition for Sensible Safeguards has produced a report detailing five areas in which protections significantly help make the December and New Year festivities a safer and more joyful experience.
NEW YORK — Miles Rapoport, President of national policy organization Demos, released the following statement in response to Michigan’s State House and Senate suddenly passing bills Thursday to defund unions and undermine the ability of working people to organize for better pay and benefits:
Before the Great Recession, the financial sector had consistently been eating up a greater and greater share of the economy. In 2007, it accounted for a whopping 40 percent of corporate profits. Before 1950, the financial sector made up less than 3 percent of GDP; now it makes up more than 8 percent.
WASHINGTON (MarketWatch) — Massachusetts Senator-elect Elizabeth Warren is likely to focus her efforts on the Senate Banking Committee in areas that go far beyond her bread-and-butter expertise in consumer protection, analysts say.
Four-year-old John Kaykay is a serious and quiet boy—“my thoughtful one,” his dad calls him. When the official greeters at the front door of the McClure early-childhood center in Tulsa welcome him with their clipboards and electric cheer—“Good morning, John! How are you today?”—he just slowly nods his small chin in their direction. When he gets to Christie Housley’s large, sunny classroom, he focuses intensely on signing in, writing the four letters of his name with a crayon as his dad crouches behind him.
NEW YORK -- The United States faces a retirement crisis that threatens future retirees and the next generation of workers. The voluntary employer-sponsored retirement system covers fewer and fewer Americans, often leaving Social Security, originally intended as a supplement to other forms of retirement, as the major source of income for 40 percent of older Americans. Even workers still covered by an employer retirement plan have had their benefits weakened.
It's widely known that the U.S. is way out of step with the rest of the world in not having paid maternity leave. We are now one of only three nations—rich and poor - that don't guarantee job-protected time off with some amount of income after the birth of a child.
It is really terrific to see retailers here giving critical attention to the Demos study. As a former business owner in the health services industry, I do realize that these problems are more than just abstract theory. That's one of the reasons why Demos and I thought it would be useful to evaluate the possibilities for adopting this business model across the retail sector, especially as the importance of retail to the US economy continues to grow.
Lewis Powell wanted executives selling tires or aspirin to take on an additional job: selling capitalism itself. Today, the disparate strands of the progressive movement must learn the same lesson, advocating not just for people but for the very idea of the people. Ours is the world’s greatest experiment in democracy: to create one, mutually supporting community of interest out of ancestral strangers—geographically distant, multi-origin, multi-ethnic, multiracial. Our inability to do that has been the Achilles’ heel of liberalism. It’s why we are not yet the 99 percent.
As Americans across the country head out en masse to malls and shopping centers to kickoff the holiday spending season today, it's important to remember that too many of the retail workers bringing us those deals earn meager wages.
The ranks of America's retail workforce have surged to more than 4.5 million workers, making it one of the nation's largest job categories. Their numbers swell further during the holiday crush, as stores take on additional seasonal employees. The U.S. is expected to add another 740,000 of retail jobs by 2020.
With Thanksgiving come and gone, we are now officially in the thick of the holiday shopping season, which means a good chunk of the country will be driving down to Walmart, Target, and other giant discounters to pick up gifts for friends and family. When they do, they'll be rewarding some of the largest companies in America for paying many of their front line workers poverty wages.
This Black Friday the lives of low-wage retail workers were thrust into the spot light as employees of a variety of stores weent to work on Thanksgiving Day and strikersdescended on Walmart stores in 100 cities.
Thousands of Walmart workers around the country are planning to strike on Black Friday, hoping to end retaliation they claim the massive retail chain’s workers receive when they speak out for better working conditions.
Chances are you missed this particular bargain on Black Friday: Agree to spend 15 cents more on every shopping trip, and Walmart, Target, and other large retailers will agree to pay their workers at least $25,000 a year.
On a talk show this past Sunday, Walmart worker Greg Fletcher spoke about the realities of struggling to provide for his family on the company's infamous low wages. David Frum, a conservative columnist atNewsweek, pointedly asked Greg whether he got the Earned Income Tax Credit, a tax refund meant to supplement the earnings of low-wage workers.
“Black Friday” sales are debt traps for people to rush out and buy on credit.
But we can fix this on both the wage and profit ends of the continuum. It’s not that complex a fix, but it requires seeing our country as a whole, as one people who rise and fall together.
We can fix this whole mess and have something for which we could really give thanks, if we just paid workers a little more.
Walmart has been on something of a charm offensive where the public is concerned (and anintimidation offensive where its workers are concerned), hoping to blunt the impact of the Black Friday rebellion.