… “Though early shifts in IP law set the stage for this financialization, it soon became a self-fueling cycle. Pharma today is a creature of Wall Street, where high drug prices are not intended to fund future R&D so much…
AIR IMPACT
Recognition of AIR research, opinions, and people in the media and elsewhere
Top US companies lay off thousands of workers while rewarding shareholders amid coronavirus pandemic
“Some of the largest companies in the U.S. have rewarded their shareholders amid the coronavirus pandemic after firing thousands of employees. Companies like heavy machinery manufacturer Caterpillar, denim-maker Levi Strauss, toolmaker Stanley Black & Decker, furniture manufacturer Steelcase and World Wrestling Entertainment have…
Outrageous’: Major US companies hand shareholders hundreds of millions in dividends while slashing thousands of jobs
“Five major U.S. corporations that have laid off thousands of workers in recent weeks have simultaneously dished out hundreds of millions of dollars in cash dividends to wealthy shareholders, drawing outrage from Sen. Bernie Sanders and others who say the…
Top US companies lay off thousands of workers while rewarding shareholders amid coronavirus pandemic
“In a downturn like this the first thing a company should do is give up any distributions to shareholders,” William Lazonick, an economist at the University of Massachusetts Lowell, told The Post. “But in a crisis, companies will differ. Some…
U.S. companies cut thousands of workers while continuing to reward shareholders during pandemic
“William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation…
How to manage public stake in bailed-out companies
“The stimulus bill passed by Congress in response to the COVID-19 economic crisis includes massive bailouts for airlines and other large companies deemed necessary for national security, in the aggregate around $500 billion, including $25 billion for company payrolls.”… via The American…
How To Manage Public Stakes In Bailed-Out Companies
“On such a model, it makes intuitive sense for the government to take equity from the companies in which it is itself an investor. A government loan, for example, is essentially a government investment; and in general, it is well…
Stock buybacks and company executives’ profits
“A stock buyback occurs when a publicly traded firm repurchases some of its shares from investors with excess cash or borrowed funds. In recent years, the annual aggregate value of such repurchases has risen to historical highs, reaching nearly $1…
If companies aren’t buying their own stock, who is?
“Hilton Worldwide Holdings Inc. added $2 billion to its stock buyback program on March 3, a vote of confidence among executives as the stock market began to slide. Just over three weeks later, the hotel company would strip the business…
U.S. companies criticized for cutting jobs rather than investor payouts
“ U.S. companies laying off workers in response to the coronavirus pandemic but still paying dividends and buying back shares are drawing criticism from labor unions, pension fund advisers, lawmakers and corporate governance experts.”… via Reuters I by Alwyn Scott, Ross…