‘Sick’: Most Profitable US Companies Fired Workers, Enriched Shareholders During Pandemic

“…An in-depth investigation published Wednesday by the Washington Post illuminates how “big businesses are having a very different year from most of the country,” which is suffering as a result of the federal government’s negligent response to the ongoing public health catastrophe and inadequate provision of financial assistance…

America’s biggest companies are flourishing during the pandemic and putting thousands of people out of work

“…Companies often buy their own stock during difficult economic periods to signal to the market that management still believes in their prospects. But those buybacks also mean companies are taking money that could have been invested into employees and innovation…

The COVID-19 Pandemic Exposes Fatal Health Inequities

“…Financialization furthers the restructuring of production both vertically and internationally, creating global production networks and enabling firms to raise prices (cost mark-ups), increase profits, and boost shareholder values. At the same time, financialization reduces investment to sanction higher dividend payments,…

Insider Trading and Stock Option Grants: An Examination of Corporate Integrity in the Covid-19 Pandemic

“…In the first quarter of 2018 alone, with the new tax law fully in force, American corporations bought back a record $178 billion in stock.21 During this period, the market hit record highs. When a corporation buys stock, it should…

Real versus Fictitious: The Pandemic Closing In on the World of Finance

“The COVID-19 pandemic is stretching the contradictions of the present economic arrangements to the limits. The system survived inflating financial assets and feeding on inequalities. The divide between the real economy and the sphere of finance cannot be left unchecked…

As the pandemic continues, the rich are getting richer than ever before — and economists are getting concerned

“If the COVID-19 pandemic has produced winners and losers, then young Canadian billionaire Tobias Lütke is definitely a winner. Since the start of the pandemic in March, the 40-year-old CEO of Ottawa-based e-commerce company Shopify Inc., has watched his personal…

Stock buybacks have totaled $5.3 trillion over the past decade — has that contributed to U.S. pandemic failures?

“…Authors William Lazonick, professor emeritus of economics at the University of Massachusetts and the president of the Academic-Industry Research Network, and Matt Hopkins, a Ph.D. student at SOAS University of London and a senior researcher at the Academic-Industry Research Network,…