By George GOEHL and Felicia WONG April 24, 2019 “Pfizer’s board of directors will gather in New Jersey on Thursday for the company’s annual shareholders meeting. They will celebrate the enormous success Pfizer had in 2018, having made $53 billion…
AIR IMPACT
Recognition of AIR research, opinions, and people in the media and elsewhere
Workers are creating massive wealth. Why are corporations hoarding it all?
By Cory Booker “Every day Carol Ruiz wakes up at 3.30am and goes to an airline catering service at Newark airport, where she helps prepare the food carts that flight attendants push up and down the aisle. She organizes the…
investors and CEO pay: The fix is still in
By Lew Daly “In this election season, reining in Wall Street is clearly a burning issue for many voters. The passion for Wall Street reform is closely wrapped up with working class anger and anxiety driven by wage stagnation and…
Democrats ran on lowering drug prices. Now they could cut a bad deal with Donald Trump
By Zach Carter and Daniel Marans “For months now, House Democratic Party leaders have been feuding behind closed doors with members of the Congressional Progressive Caucus about how to lower prescription drug prices. But as details of negotiations between House…
Let’s go back to boring banking
By Rita McGrath “After the Great Depression and through the 1980s, the financial sector was regulated to serve the rest of the economy. Today, it serves mostly itself. It’s time that changed. When even Larry Fink is talking about too much short-termism…
Don’t be surprised if Boeing’s escalating problems crash the stock market
By Charles Mudede “This is how it’s going down. Late last week, Seattle Times reported that a “preliminary crash report” confirmed that the “Ethiopian 737 MAX pilots lost control” of the plane “despite following Boeing’s instructions.” This is extremely bad news for…
U.S. Sen. Baldwin: Reintroduces legislation to rein in stock buybacks and give workers a voice on corporate boards
By Sen. Tammy Baldwin, press release “Today, U.S. Senator Tammy Baldwin reintroduced legislation to rein in corporate stock buybacks and empower workers to have a say in how their company’s profits are spent. The Reward Work Act would ban open-market stock buybacks…
Why did Boeing put so much technology in the 737 MAX? To make money
By Teresa Ghilarducci “President Trump implied that complicated technology might have led to the Boeing 737 MAX disaster (a point since vigorously attacked), tweeting: “Airplanes are becoming far too complex to fly. Pilots are no longer needed ….and the complexity creates danger. All of this for…
Just ban stock buybacks again
By Jeff Spross “Senate Minority Leader Chuck Schumer (D-N.Y.) and Sen. Bernie Sanders (I-Vt.) want to clamp down on stock buybacks. This practice, worth a record $1.1 trillion in 2018, is when publicly traded companies buy their own shares from Wall Street traders. Schumer and Sanders…
The real reason stock buybacks are a problem
By Yves Smith “Yves here. Even though this article on stock buybacks by Steve Roth, cross posted below after this lenghty introduction, makes an important central point, I believe it is missing the forest for the trees. Roth acts as…
