By Frank Moraes “One of the most famous episodes of The Twilight Zone is, “It’s a Good Life.” In it, Bill Mumy plays Anthony — a little boy with special mental powers that isolates a small group of people in his own…
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Happy irony day,
By Bob Dunn “Thirty-five years ago I was a newspaper reporter covering events surrounding the United Steelworkers Union and the American steel industry in Wheeling, W.Va. and Pittsburgh. Steelworkers had physically demanding, dangerous jobs, but their union was powerful and…
Give It to the Shareholders!
By Jerry Strawser “What do ExxonMobil, Microsoft, IBM, Cisco Systems, Procter & Gamble, Hewlett-Packard, Walmart, Intel, Pfizer and General Electric have in common? A recent Harvard Business Review article by William Lazonick (“Profits without Prosperity”) identified these companies as being…
The Shame of Labor Day
By Steve Denning “Labor Day,” writes Harold Meyerson in the Washington Post, has become a “mocking reminder that this nation once honored workers.” Why are workers no longer honored and rewarded?”… [Click HERE to read the full article]
Why you are poor
By Christopher Hull “Today I saw two men at a gas station fight to see which of them would get to go through the trash in front of the store to look for cans, bottles, or thrown away food. It…
Harold Meyerson: In corporations, it’s owner-take-all
Harold Meyerson asks why the economy [has] ceased to reward work…. “Anyone seeking a more fundamental answer should pick up the September issue of the Harvard Business Review and check out William Lazonick’s seminal essay on U.S. corporations, ‘Profits Without Prosperity’.” Cross-posted…
Profits Without Prosperity (interview of William Lazonick)
Interviewed by Sam Seder [Click HERE to listen the interview]
The 1 percent’s devious new scheme: How CEOs are getting rich at your expense
An expert explains our growing obsession with stock buybacks — and how they’re driving U.S. income inequality purpose: to manipulate a company’s stock price. And, with ample stock-based pay through which they can realize gains from a volatile stock market,…
From CEO ‘Takers’ to CEO ‘Makers’: The great transformation
By Steve Denning “Earlier this week, I discussed the problems of share buybacks as delineated in “Profits Without Prosperity,” an article by William Lazonick in the September issue of Harvard Business Review and explained how CEOs, through the pervasive use of share…
The dirty little secret of how CEOs enrich themselves at your expense (Interview of William Lazonick)
By Lynn Parramore “Everyone from Warren Buffett to Robert Reich is talking about a favorite Wall Street trick called stock buybacks. But what are they and what do they mean to you? William Lazonick is a leading expert on the history of the American business…
