By Elizabeth Warren “Corporate profits are booming, but average wages haven’t budged over the past year. The U.S. economy has run this way for decades, partly because of a fundamental change in business practices dating back to the 1980s. On…
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Will this climate of share buybacks pay dividends for Irish companies?
By Dan White “Three of Ireland’s largest companies are spending up to €2.3bn buying back their own shares. But are such buybacks the best use of companies’ cash? Last week, quoted bookie Paddy Power Betfair, which announced a £500m share…
The Rise of Hedge Fund Activism
By Jang-Sup Shin “The casual observer can hardly comprehend the value-extracting power of hedge fund activists. Technically, they are no more than minority shareholders.”… [Click HERE to read the full article]
Apple’s stock market scam
By Alex Shepherd “Apple beat Amazon and Google in the race to become the first trillion-dollar company in the U.S. on Thursday afternoon, when its stock hit $207.0425 a share. (It closed slightly higher.) It’s another milestone for what might be the…
As workers wonder where their share is, employers warn of raises
By Bill McKnight “Between wage hikes and bonuses, the Trump administration last year predicted that average U.S. household income this year would jump by $4,000 because of “tax reform.” Trump economic adviser Kevin Hassett said, “There really shouldn’t be much…
Why shareholder value drives income inequality
By Thomas Clarke “The CEO of Domino’s Pizza takes home roughly 435 times the average full-time wage. Jeff Bezos has become the world’s richest person with a A$200 billion fortune off the backs of low-paid Amazon warehouse workers. Rampant inflation in CEO realised pay has…
The resurgence of political authoritarianism: An interview with Noam Chomsky
By C. J. Polychroniou “Following the end of World War II, liberal democracy began to flourish in most countries in the Western world, and its institutions and values were aspired to by movements and individuals under authoritarian and oppressive regimes….
How stock buybacks hurt long-term investors: Q&A with economist William Lazonick
By Arne Alsin “Facing record-setting levels of buyback activity in 2018, we thought we’d revisit our 2017 interview with award-winning economist William Lazonick. Lazonick is a professor of economics at the University of Massachusetts Lowell who studies innovation and competition in the…
As Americans get gouged on healthcare, Big Pharma cannibalizes profit to feed shareholders
By Angelo Young “To give you an idea of how much Americans are getting gouged on their purchases of medicine, consider this: Over the past three years, the cost of six commonly used drugs categories, including treatments for asthma, diabetes,…
Is our focus on quarterly earnings hurting the U.S. economy
By Dwyer Gunn “Last week, Jamie Dimon, the chief executive officer of JPMorgan Chase, and Warren Buffett, the well-known value investor and chairman of Berkshire Hathaway, penned an op-ed in the Wall Street Journal urging public companies to “consider moving away from providing…
