By Ralph Nader “The monster of economic waste—over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations—started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald…
AIR IMPACT
Recognition of AIR research, opinions, and people in the media and elsewhere
Capitalism in America has been on a suicide mission for 40 years
By Theodore Kinni “On August 2, 2017, the Dow Jones Industrial Average hit a record-breaking 22,000 — its fourth 1,000-point advance in less than a year. That same day, I read the first sentence in Peter Georgescu new book, Capitalists Arise! End Economic…
Donald Trump’s trickle-down delusion on tax
Rana Foroohar “If there were still any doubt that President Donald Trump is a trickle-down economics guy rather than a populist, consider his new tax plan. It would represent the largest set of cuts since the era of George W Bush.”… [Click HERE…
America’s plutocrats are running for office across the country: Can our democracy survive it?
By Les Leopold “In his bestselling Capital in the 21st Century, economist Thomas Piketty alerted the world to the new aristocracy of wealth being formed by runaway inequality. We have only to look at the state of Illinois to see what…
Trump economic director Gary Cohn says it’s fine for corporations to use tax breaks to enrich executives
By Zaid Jilani “One part of the White House’s proposed tax reform framework would involve a “tax repatriation” holiday for U.S. corporations that are storing profits overseas. The logic is that offering a lower tax rate to corporations would entice them to…
Long term matters: An Achilles’ heel for buybacks?
By Raj Thamotheram “Investors are salivating over possible US corporate tax cuts. But evidence suggests this excitement is misplaced, at least from the perspective of the end beneficiaries. Corporate tax cuts boost share price and CEO pay. Hence, they are…
Innovative Enterprise Solves the Agency Problem
By Institute for New Economic Thinking (INET) “Since the late 1980s, the dominant ideology of corporate governance in the United States has been that, for the sake of superior economic performance, companies should “maximize shareholder value” (MSV). As promulgated by…
Mission control: Drug developers test the ‘benefit corporation’ business model
By Arran Frood “The outsized role that money can have in drug development has become a hot-button issue. One July 2017 working paper found, for example, that some of the largest pharmaceutical companies in the world spend more money buying…
IBM now has more employees in India than in the U.S
By Vindu Goel “IBM dominated the early decades of computing with inventions such as the mainframe and the floppy disk. Its offices and factories, stretching from upstate New York to Silicon Valley, were hubs of American innovation long before Microsoft…
Meet the CEO who says that excessive CEO pay is thrashing America—and hurting investors
By Arne Alsin “As a general rule, you probably won’t find too many CEOs that are particularly critical of high pay. Don’t bite from the hand that feeds you, right?”… [Click HERE to read the full article]
