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BOOKS & ARTICLES

ESSAYS

FILMS

LINKS

STATS

TAX HAVENS

ESSAYS

Some ways to occupy our future...and our economy

Corporations and us

Corporation no person in these 'hoods

Derivative America and the Enron generation

Evangelical economics

False profits

Sovreignty movement

The most dangerous man on Wall Streeet

LINKS

BOYCOTTS

GREEN BOYCOTT LIST

CONSUMER ISSUES

THE CONSUMERIST GUIDE TO FIGHTING BACK

HOW TO ESCAPE CORPORATE PHONE HELL & SPEAK TO A LIVE PERSON

OTHER WAYS TO REACH A LIVE PERSON

STILL MORE HUMAN CODES

PUBLIC CITIZEN

PUBLIC INTEREST RESEARCH GROUP

RIP OFF REPORT

SPY CHIPS

TRANS-ATLANTIC CONSUMER DIALOGUE

WHO'S OUTSOURCING IN YOUR STATE

CORPORATIONS

CORPORATE INFO

ENRON

KODAK

SODEXHO MARRIOTT

WAL-MART WATCH

GROUPS

180/MOVEMENT FOR DEMOCRACY & EDUCATION

BHOPAL

BUSINESS ETHICS

CONSUMERS FOR COMPUTING CHOICE

CORPORATE ACCOUNTABILITY PROJECT

CORPORATE DIRT

CORPORATE WATCH

EXECUTIVE PAY WATCH

FTC DO NOT CALL REGISTRY

JOINT CENTER FOR POLITICAL & ECONOMIC STUDIES

MULTINATIONAL MONITOR ENRON SITE

PUBLIC INFORMATION NETWORK

PRJCT ON CORPORATIONS, LAW & DEMOCRACY

RECLAIM DEMOCRACY

STUDENT ALLIANCE TO REFORM CORPORTATONS

US PIRG

UNITED STUDENTS AGAINST SWEATSHOPS

WORLD BANK BOYCOTT

FILMS

Plunder: The Crime of Our Time: The criminal side of the financial crisis

'Inside Job', out on DVD now and Oscar winner for Best Documentary, about the greedy reckless criminal behavior of financial firms and the deregulation under Reagan, Clinton, & Bush II that caused the 2008 economic meltdown. It's entertaining & easily understandable, and you'll get pissed off, especially at Obama, who hired Wall St. insiders (Geithner, Summers, etc.) who were responsible for the mess. -Scott McLarty

READING

Predator Nation

Get Up, Stand Up - A guide to taking on the corporatocracy.

The Corporate Whistleblower's Survival Guide: From Erin Brockovich to Enron, whistleblowers who “challenge abuses of power that betray the public trust” have proven to be a necessity in modern business culture. Recent federal legislation in finance and health reform have cemented legal protections and mechanisms for whistleblowing. This book provides a thorough guide and history to the whistleblower's legal rights. With extensive legal texts, sample letters, resources, and information on upcoming whistleblower reforms.

The Monster: How A Gang Of Predatory Lenders And Wall Street Bankers Fleeced America — And Spawned A Global Crisis

FROM OUR OVERSTOCKED ARCHIVES
PSALM OF THE FAST LANE

SAM SMITH, 1986

The Lord is my mentor; I shall want it all.

He feedeth me in world-class restaurants and leadeth me beside the sparkling mineral waters.

He restoreth my house and bringeth me in the path of good access.

Yea, though I jog through the valley of the shadow of high rises I shall fear no viable competition; thy clout and thy bottom line shall comfort me.

He shall prepare a game plan against mine enemies, and shall bloweth dry my head and my Volvo shall runneth over to Bloomingdales.

Surely perks and power lunches shall follow me all the days of my life and 1 shall dwell in an upscale neighborhood forever and ever.

For thine is the power and the glory -

But not for long, sucker. I'm right behind you.

TAX HAVENS

US corporations keep $1.2 trillion offshore

Detailed guide to tax havens by Congressional Research Service

Cayman Islands to open up a bit

Google used offshore scam to avoid $2 billion in taxes

Offshore tax havens larger than whole American economy

What tax havens are costing you and small businesses

STATS

Abercrombie & Fitch

American Airlines

Anheuser-Busch

AOL

Apple

2014 - Among top offshore tax evaders

Apple, Walmart, McDonald's compete in underpaying workers

Applebees

Atlantic Southeast Airlines

AT&T

2013

2012

BAIN

BANK OF AMERICA

BB&T

BP

2011

2010

BENNETON

2012

BOOZ ALLEN HAMILTON

Chik-fil-A

2012 - Big contributor to anti-gay causes

Citigroup

2013 Citigroup promised Lew big bucks if he took a high government job

Comcast Corporation

2012- Backs major climate change denier, Heartland Institute

Dell

2013 - Contrator for NSA's notorious spy operation

Eden Food

2013 - Eden Foods: Organic food, anti-women politics

General Electric

2014

2013

2012

General Motors Foundation

2012- Backs major climate change denier, Heartland Institute

Goldman Sachs

Google

2013 - Google's chair thinks its employees should pay the company's taxes

Halliburton

2013

2012

Fired Army whistleblower wins big settlement in Haliburton case

Home Depot

2012 Backer of Governor Walker

2011 -Home Depot founder Bernie Marcus says retailers who don't support Republican candidates "should be shot; should be thrown out of their goddamn jobs."

Hostess

2013 - Hostess Twinkies are back but not its employee unions

Hyatt

2010 - REASONS NOT TO STAY AT HYATT

JP Morgan

Koch Brothers

A few Koch products you might wish to avoid:

Lockheed

2010 - LOCKHEED MARTIN topped the list of federal contractors with the most misconduct according to the Project on Government Oversight

Macy's

2012 Macy's boss wants Medicare & Social Security cut

Massey Energy

2010

MEET MR. MINE DISASTER

TEN MASSEY MINES HAVE HIGH INJURY RATES

MASSEY HAS TWICE PROMISED COURTS TO CLEAN UP MINE ACT

Mastercard

2012

If you want to donate to Wikileaks, you can't use your Visa or your Mastercard. They have drawn a moral line in the sand. But luckily you can still use both to donate to the Ku Klux Klan. -- Stephen Colbert

McDonalds

2013

2012

Merck

2014

2011

Microsoft Corporation

2014

2012

Miller Beer

2012 Backer of Governor Walker

MKG

2012 American corporation to privatize three Honduran cities

Monsanto

2013

Monsanto trying to stop states from requiring labelling

Study: Roundup linked to major health problems

How Monsanto is ripping off farmers

More Monsanto

MSNBC

2013- MSNBC censors NSA whistleblower

National Football Leagu

2011 NFL wants to search 16 million fans

Nestles

2013 Nestle CEO: Water not a human right; should be privatized

Netflix

2012 - Netflix takes away right to sue it

Nike

2010 - UNIVERSITY CUTS TIES TO NIKE BECAUSE OF TREATMENT OF WORKERS IN HONDURAS

Paypal

2010 PAYPAL REFUSES TO TAKE DONATIONS TO WIKILEAKS

Pepsi

2012- Backs major climate change denier, Heartland Institute

2010 -$217 million in defense contracts

Pfizer

2014

2012

Raytheon

2011 - New torture device to use against protesters

Reynolds American Inc

2012- Backs major climate change denier, Heartland Institute

Ryanair

2011 - Ryanair plans only one toilet per plane

Sears

2012 - Dumping health insurance inflation on employees

Sony

2012 - Sony jacks prices of Whitney House albums following her death

2010 SONY BANS BEYONCE FROM YOUTUBE

Southwest Air

2012 - American, Southwest top airlines for losing bags

Stonybrook Farm

2011 Organic elite surrenders to Monsanto

Subway

2010 SUBWAY issues cease and desist letters to food spots selling "footlong" sandwiches.

Time Warner Cable

2012- Backs major climate change denier, Heartland Institute

T Mobile

2013 - Pregnant T-Mobile Employee Forced to Take Vacation Time to Use Bathroom, Fired Over 12 Cent Error

Universal Music

2012 -Universal Music uses false copyright claim to censor news program about its false copyright claim

US Airways

2013- You can't wear baseball caps, hoodies & jeans in US Air first class (if you're black)

2011 - US Airways jacks price for route nearly 500% after competitor drops service

Visa

2012

If you want to donate to Wikileaks, you can't use your Visa or your Mastercard. They have drawn a moral line in the sand. But luckily you can still use both to donate to the Ku Klux Klan. -- Stephen Colbert

Walmart

2013

2012

2011

MORE WALMART

Wachovia

2010 - WACHOVIA TO PAY $160 MILLION FOR LAUNDERING DRUG MONEY

Whole Foods

2013 -Whole Foods workers fired for speaking Spanish to each other

2011 - Organic elite surrenders to Monsanto

Offshore tax evasion has doubled in past five years

Reuters - Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm's report...

"The new numbers ... certainly highlight what is one of the key challenges for tax reform. I do think there need to be some reforms in this area," Senate Finance Committee Chairman Ron Wyden told reporters on Tuesday on Capitol Hill.

Under U.S. law, corporations do not have to pay income tax on most of their overseas profits until they are brought into the United States. These earnings can be held offshore for years if they are classified as indefinitely invested abroad.

Research firm Audit Analytics said in a report issued last week that the total of such earnings was up 93 percent from 2008 to 2013, citing federal financial filings for companies listed in the Russell 1000 index of U.S. corporations.

Conglomerate General Electric Co had the biggest pile of earnings stored abroad, at $110 billion, the firm said.

Next were software maker Microsoft Corp, with $76.4 billion; drug makers Pfizer Inc, with $69 billion, and Merck & Co Inc, with $57.1 billion; and high-tech group Apple Inc, with $54.4 billion, it said.

Wal Mart admits its profits depend on public welfare

Corporate welfare fathers get over $100 billion in state and local tax subsidies

Al Jazeera - State and local governments have awarded at least $110 billion in taxpayer subsidies to business, with 3 of every 4 dollars going to fewer than 1,000 big corporations, the most thorough analysis to date of corporate welfare revealed.

Boeing ranks first, with 137 subsidies totaling $13.2 billion, followed by Alcoa at $5.6 billion, Intel at $3.9 billion, General Motors at $3.5 billion and Ford Motor at $2.5 billion, the new report by the nonprofit research organization Good Jobs First shows.

Dow Chemical had the most subsidies, 410 totaling $1.4 billion, followed by Warren Buffett’s Berkshire-Hathaway holding company, with 310 valued at $1.1 billion.

A threat to Wal Mart is growing

Forward Progressives - Prices as good or better than Wal-Mart? Healthcare coverage with dental and vision as low as $40 a month for employees? It’s not some stereotypical crunchy granola liberal health food co-op store in Brooklyn or San Francisco, it’s a company that has expanded across the Western United States (including Arizona and two new stores just opened in Texas) and it could be going nationwide before long.

WinCo Foods, Boise, Idaho, is scheduled to open its first two Texas stores... in Fort Worth and McKinney, Texas.

WinCo was originally established in 1967 and became employee owned in 1985. They’re privately owned by the employees, and they brag about it on their website: For over 40 years WinCo Foods has fostered a tradition of success by focusing on very large stores with a wide selection of national brands at prices below our competition. In addition, the very nature of having employee stockholders that have seen their Employee Stock Ownership Plan (pension plan) grow at a 21.51% annual compound growth rate creates an extremely dedicated workforce. This has made WinCo a very successful company, one which in 1998 was listed as #266th on Forbes Magazine’s List of 500 largest Privately Held Companies and recently in 2011 holding to the 66th spot on the list.

WinCo is continuing this record of success, now operating 93 employee owned stores in seven states with nearly 15,000 employees and continues to grow by opening new stores and adding new members to the company every year.

TPP: Corporate terrorism against the nation state

Corporations spying on non-profits

McDonald's advice to its underpaid workers

The capitalists' war agains the nation state

Recovered history: The seamy past of Milton Friedman

Walmart scaling back on orders

Walmart's misleading 'Buy America' hustle

Comcast tries to copyright court filing

The medical health records problem

How the corporados have changed our language

Stupid CEO tricks

Why privatization is a disaster

For all the corporados' talk, investment has been going down

@RBReich - Companies will act legally only when risk of detection times amount of fine is larger than profit from illegality.

Why are big corporations so unpatriotic?

18 big corporations that keep huge amounts of money overseas

Having just a few companies control an industry isn't competition, it's oligarchy

The world’s top 100 billionaires now hold so much wealth, says a new Oxfam report, that just the increase in their net worth last year would be “enough to make extreme poverty history four times over.”

Treasury approved excessive pay for executives at bailed-out AIG, GM and Ally

Peter Madoff postpones prison to attend granddaughter's bat mitzvah

2012

The real person of the year


USA UNCUT

Big corporations now local washing

The NFL doesn't pay taxes

Obama offered Google chair job of Treasury Secretary

Senator Bernie Sanders: 93% of all new income generated between 2009 and 2010 went to the top 1%.

The country club Sopranos

The luxury repo men

The real moochers are corporations

Corporations are people


CORPORATE HYPOCRITE OF THE DAY

Bain loves the Democrats

Cory Booker pimps for Bain Capital

How austerity politics hurts small business

80% of Super PAC money has gone to GOP groups & came from 100 individuals

Carly Fiorina: Plutocrat of the day

Airlines finding new ways to rip off passengers

Grounded by US Airways

How corporations can spy on you without your password

Who really owns that organic food you're buying

Telcos want to end land line phone service requirement

How corporations learn your secrets

30 corporations that paid more for lobbying than they did in taxes

"Job creators" need government bribes

Seven new hedge funders charged

The rise of the corporate psychopath

If large corporations were really people we would consider them psychopaths

Some ways to occupy our future...and our economy

Federal financial fraud prosecutions down by more than a half from a decade ago

If there's going to be class warfare, here's a map of the battlefronts

Teamster head calls on corporations to show some patriotism

Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax. The Institute for Policy Studies said it also found many of the companies spent more on lobbying than they did on taxes.

Bernie Sanders’ list of worst corporate income tax avoiders

Hedge funds betting on peak food

Corporation no person in these 'hoods

The 9/11 story no one in power wants to talk about

Rating the rating agencies

Dealing psychologically with the corporatocracy

How corporations write our bills

Audit of Massachusetts foreclosures finds massive bank fraud

How corporations get employees to sign away their rights

Income of CEOs of top corporations went up 28% during Great Recession

The fight to end corporate personhood

Ten corporations pull in 25% of all federal contracts

World's wealthiest people now richer than before the credit crunch

Big bankers' pay continues to soar

Top corporations sitting on nearly $1 trillion in cash

FCC commissioner gets big job with Comcast-NBC whose merger she approved four months ago

Three ways to take on corporate personhood

Supreme Court increases corporate power again

Ten corporations that worked with the Nazis

Undocumented immigrants paid more taxes than GE

John Paulson earned more in one hour in 2010 than a median US famly could do in 47 years

Sell an ounce of cocaine and you go to jail, Wachovia launders $378 billion in drug money and pays fines that are less than interest earned on held money. - Mrkuder

CEO pay up 27% in 2010, workers pay up only 2%

GE pays no federal taxes, but wants union workers to give up benefits

Two thirds of corporations don't pay taxes

Ten worst corporate tax evaders

In the 1950s the share of U.S. taxes paid by corporations was 30 percent of federal revenue.In 2009 it was 7%

Why you don't want to listen to the Chamber of Commerce

ATT/TMobile merger is monopoly gone wild

Corporados score highest profits in 18 years during deep recession

Three ways to take on corporate personhood

America's biggest welfare fathers

By one measure, for about every $40 in assets, the nation’s five largest investment banks had only $1 in capital to cover losses, meaning that a 3 percent drop in asset values could have wiped out the firm.- NY Times

 


Corporate non-taxes

87% of congressmembers who urged NBC/Comcast merger got money from Comcast

Corporation no person in these 'hoods

The corporations that buy our elections hire more people overseas than in U.S.

Airlines rake in $2.5 billion in baggage fees

How insurance companies are spying on you

Why they can find out so much about you

U.S. IS LEADING BANANA REPUBLIC

AAT CASE BEFORE SUPREME COURT THREATENS CITIZENS’ LEGAL RIGHTS

AIRLINES SCORING BIG TIME BY RIPPING OFF THEIR PASSENGERS

Question of the day: Punk Patriot: If corporations are people, does that make shareholders slaveowners? Shouldn't that be challanged on the grounds of the 13th amendment?

2010

THE HIDDEN HISTORY OF CORPORATIONS

THE MOST DANGEROUS MEMBER OF THE WALL STREET MOB: PETER PETERSON

BLOOMBERG'S FOUNDATION TRANSFERRED $300 MILLIION TO OFFSHORE TAX HAVENS

MASSEY TO MINERS: TAKE TIME OFF FOR FUNERALS, LOSE YOUR JOB

REVIEW COMMISSION ATTACKS AIG BAILOUT

IF YOU WANT SOME REAL WINGNUTS, TALK TO WALL STREET CEOS

TOWN REJECTS CORPORATE PERSONHOOD

MAY 2010

BANKS LOBBYING AGAINST RESTRICTIONS ON DERIVATIVES

OBAMA'S PALS REVIVE CONSERVATIVE ECONOMIC GROUP

GREAT THOUGHTS OF ALAN GREENSPAN: We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand. - Alan Greenspan, Federal Reserve System chair at board of governor's meeting, March 16, 2004

APRIL 2010

HOW THE NATION'S BIGGEST BANKS ARE RIPPING OFF AMERICAN CITIES WITH THE SAME PREDATORY DEALS THAT BROUGHT DOWN GREECE

WHITE COLLAR CRIMINOLOGIST BLOWS THE WHISTLE ON LEHMAN, THE FEDERAL RESERVE AND 'LIARS LOANS'

THE MULTIPLE SCAMS OF GOLDMAN SACHS

OTHER MAJOR BANKS DID DEALS SIMILAR TO GOLDMAN’S

HOW A HEDGE FUND HELPED BRING DOWN THE ECONOMY

WPA: THE STIMULUS PACKAGE THAT WORKED

AIRLINE TO CHARGE $45 FOR CARRY-ON BAG

THE CORPORATIONS' WAR AGAINST RALPH NADER

AIRLINES LOSE 3,000 BAGS AN HOUR

WACHOVIA TO PAY $160 MILLION FOR LAUNDERING DRUG MONEY

THE DIRTY STORY BEHIND LEHMAN'S COLLAPSE

BANKS DEVISE NEW WAYS TO RIP OFF CREDIT CARD USERS

ARE THE TELECOMS OUT TO KILL TRADITIONAL LAND LINES?

MARCH 2010

CONGRESSIONAL INVESTIGATORS LOOKING AT FORMER HEAD OF NY FED

BANK OF AMERICA CEO TRIAL COULD BRING PAULSON AND BERNANKE INTO COURT

WHOLE FOODS DISCRIMINATES AGAINST HEAVIER WORKERS

LEADING PEOPLE WHO SCREW UP THE WORLD MEET AGAIN IN DAVOS

YOUR MONEY IS SAFE WITH BANK OF AMERICA, BUT YOUR HOUSE MIGHT NOT BE

FEBRUARY 2010

MORE DIRT REVEALED ON GOLDMAN SACHS' ROLE IN FISCAL COLLAPSE

NEW YORK FED WANTED TO CONCEAL AIG SWEETHEART DEAL AS 'NATIONAL SECURITY

HOW WALL STREET PLANS TO GET AROUND THE NEW BANKING RULES

TRASHING CLOTHES IN A BITTER COLD NEW YORK WINTER

JANUARY 2010

NEW YORK FED WANTED TO CONCEAL AIG SWEETHEART DEAL AS 'NATIONAL SECURITY

HOW WALL STREET PLANS TO GET AROUND THE NEW BANKING RULES

NOVEMBER 2009

FOUR CORPORATIONS THAT DUMPED EMPLOYEE PENSION PLANS PAID EXECS $50 MILLION IN RETIREMENT BENEFITS

IF YOU'RE NOT DOING AS WELL AS GOLDMAN SACHS IT MAY BE BECAUSE HENRY PAULSON AND ROBERT RUBIN NEVER WORKED FOR YOU

AUGUST 2009

WALL STREET JOURNAL FINDS GOLDMAN SACHS GIVING TOP CLIENTS AND TRADERS DIFFERENT ADVICE THAN AVERAGE CUSTOMERS

ASCAP WANTS TO BE PAID WHEN YOU PLAY RINGTONES IN PUBLIC

JULY 2009

PHONE CORPORADOS DENY FIXING TEXTING CHARGES

WALL STREET FINDS NEW WAYS TO RIP OFF CREDIT CARD USERS

WALL STREET: FROM TERROR VICTIM TO PERP

BANKS HIKING FEES & INTEREST RATES TO BEAT NEW LEGISLATION

SEC INVESTIGATOR'S CONCERNS ABOUT MADOFF WERE BRUSHED OFF

FORMER TOP AIDES OF TREASURY SECRETARY TO LEAD EFFORT AGAINST "POPULIST OVERREACTION" TO WALL STREET'S MISBEHAVIOR

JUNE 2009

HOW GE SQUEEZED INTO THE BANK BAILOUT PARTY

THE GOLDMAN SACHS RIP OFF CONT'D

CAP & TRADE SETS UP NEW COMMODITIES MARKET
AND GOLDMAN SACHS IS ALREADY IN IT BIG TIME

HOW LEHMAN BROTHERS COULDN'T ADD RIGHT

MAY 2009

GETTING TO KNOW BERNIE MADOFF

UP CLOSE AND PERSONAL WITH TIM GEITHNER

HOW GOLDMAN SACHS TOOK OVER THE WORLD

MARCH 2009

FED BLOCKS NAMES OF BAILOUT WELFARE FATHERS TO AVOID 'STIGMA'

FEBRUARY 2009

SUE THE WALL STREET MOB

DECEMBER 2008

RUBIN NAMED IN SUIT ALLEGING CITIGROUP PONZI SCHEME

FORMER CHAIR OF NASDAQ ARRESTED IN ALLEGED SCAM

SEPTEMBER 2008

STORIES THE MEDIA DIDN'T TELL YOU: HANK PAULSON'S BACKGROUND

Tom Ely, World Socialist - In 1970, fresh from the Masters program of the Harvard Business School, Paulson entered the Nixon administration, working first as staff assistant to the assistant secretary of defense. In 1972-73, Paulson worked as office assistant to John Erlichman, assistant to the president for domestic affairs. Erlichman was one of the key figures involved in organizing President Richard Nixon's notorious "plumbers" unit that carried out illegal covert operations against the president's political opponents, including espionage, blackmail, and revenge. Ehlichman resigned in 1973, and in 1975 he was convicted of obstruction of justice, perjury, and conspiracy, and was imprisoned for 18 months.

Utilizing his connections, Paulson went to work for Goldman Sachs in 1974. In a 2007 feature, the British newspaper the Guardian wrote, "Not only was he well connected enough to get the job [in the Nixon White House], but well connected enough to resign in the thick of the Watergate scandal without ever getting caught up in the fallout. He went straight to Goldman back home in Illinois."

Paulson rose through the ranks of Goldman Sachs, becoming a partner in 1982, co-head of investment banking in 1990, chief operating officer in 1994. In 1998 he forced out his co-chairman Jon Corzine "in what amounted to a coup," according to New York Times economics correspondent Floyd Norris, and took over the post of CEO.

Goldman Sachs is perhaps the single best-connected Wall Street firm. Its executives routinely go in and out of top government posts. Corzine went on to become US senator from New Jersey and is now the state's governor. Corzine's predecessor, Stephen Friedman, served in the Bush administration as assistant to the president for economic policy and as chairman of the National Economic Council. Friedman's predecessor as Goldman Sachs CEO, Robert Rubin, served as chairman of the NEC and later treasury secretary under Bill Clinton.

Agence France Press, in a 2006 article on Paulson's appointment, "Has Goldman Sachs Taken Over the Bush Administration?" noted that, in addition to Paulson, "the president's chief of staff, Josh Bolten, and the chairman of the Commodity Futures Trading Commission, Jeffery Reuben, are Goldman alumni."

"But the flow goes both ways," the article continued, "Goldman recently hired Robert Zoellick, who stepped down as the US deputy secretary of state, and Faryar Shirzad, who worked as one of Bush's national security advisors.". . .

Paulson, according to a celebratory 2006 Business Week article entitled "Mr. Risk Goes to Washington," was "one of the key architects of a more daring Wall Street, where securities firms are taking greater and greater chances in their pursuit of profits." Under Paulson's watch, that meant "taking on more debt: $100 billion in long-term debt in 2005, compared with about $20 billion in 1999. It means placing big bets on all sorts of exotic derivatives and other securities."

According to the International Herald Tribune, Paulson "was one of the first Wall Street leaders to recognize how drastically investment banks could enhance their profitability by betting with their own capital instead of acting as mere intermediaries." Paulson "stubbornly [asserted] Goldman's right to invest in, advise on and finance deals, regardless of potential conflicts.". . .

PAULSON UNDERSTATED THE PROBLEM EVERY STEP OF THE WAY

AUGUST 2008

HARVARD BUSINESS SCHOOL IS FAR WORSE THAN YOU THOUGHT

JUNE 2008

CEOs OVERCREDIT THEMSELVES FOR SUCCESSES

MORE TOP FIGURES RECEIVED SWEETHEART DEALS FROM COUNTRYWIDE

JAILED LOBBYIST HAD 485 CONTACTS WITH BUSH OFFICIALS OVER THREE YEARS

MARCH 2008

HOW CORPORATIONS TOOK OVER THE SUPREME COURT

JANUARY 2008

MPAA BADLY MISLED CONGRESS OVER COLLEGE PIRATING

ARS TECHNICA - After commissioning a 2005 study from LEK Consulting that showed collegiate file-swappers were responsible for 44 percent of movie studio "losses" to piracy, the MPAA then used the report it bought to bludgeon Congress into considering legislation to address this massive problem. Now the MPAA admits that the report's conclusions weren't even close to being right; collegiate piracy accounts for only 15 percent of "losses." Oops. And that's assuming you believe the rest of the data.

RIAA: COPY A CD AND YOU MAY BE A CRACKHEAD TERRORIST

RECORDING GLUTTONS WANT OVER A $1 MILLION FOR EACH IMPROPERLY DOWNLOADED CD

CIRCUIT CITY EXECS GET MILLION BUCK REWARDS FOR DRIVING STOCK PRICE DOWN

CARLYLE GROUP WANTS TO TAKE OVER NURSING HOME GIANT

AIRLINES: WORSE SERVICE, HUGE PROFITS

EVEN CORPORATE BOSSES ADMIT THEY'RE OVERPAID

THE INSURANCE COMPANIES THAT STOLE CHRISTMAS

U.S. INCOME GAP SETS POSTWAR RECORD

MORTGAGE LENDERS PREFER FORECLOSURE TO HELPING HOME BUYERS PAY OFF LOAN

INDICATORS: ROBBER BARONS STILL DOING WELL

THE REAGAN-BUSH-CLINTON-BUSH YEARS: BRINGING INEQUALITY TO PRE-DEPRESSION LEVELS

STUDY: WAL MART REDUCES NATIONAL WAGES $4.5 BILLION A YEAR

Retail workers in the U.S. are making $4.5 billion less each year due to Wal-Mart's presence, according to a new study by the University of California's Center for Labor Research and Education.

The study focuses on stores that opened between 1992 and 2000 and concludes, "Opening a single Wal-Mart store lowers the average retail wage in the surrounding county between 0.5 and 0.9 percent."

Wal-Mart's presence pushes down wages in two ways. "First is the substitution effect: a new Wal-Mart store replaces better paying jobs with lower-paying ones," the authors explain. "A second factor is competition: Wal-Mart pushes down wages in competing businesses."

Not only did Wal-Mart lower average wage rates, but "every new Wal-Mart in a county reduced the combined or aggregate earnings of retail workers by around 1.5 percent." Because this number is higher than the reduction in average wages, it indicates that Wal-Mart not only lowered pay rates, but also reduced the total number of retail jobs. That finding is consistent with a major study published earlier this year that found that the opening of a Wal-Mart store causes a net loss of about 150 retail jobs.

"At the national level, our study concludes that in 2000, total earnings of retail workers nationwide were reduced by $4.5 billion due to Wal-Mart's presence," they find.

Most of these losses were concentrated in metropolitan areas. Although Wal-Mart is often associated with rural areas, three-quarters of the stores it built in the 1990s were in metropolitan counties.

Another new study from the UC Center for Labor Research and Education indicates that Wal-Mart could substantially raise its workers' earnings, particularly those living at or near poverty, with little impact on most shoppers. "Living Wage Policies and Wal-Mart" analyzes the effects of instituting a $10 minimum wage at Wal-Mart. More than half of the retailer's employees (56%) currently earn less than $10 an hour.

"We find that 46.3 percent of the pay increase would go to workers in families with total incomes below 200 percent of the federal poverty level," the study finds. "These poor and low-income workers could expect to earn an additional $1,020 to $4,640 a year."

http://www.newrules.org/retail/news_slug.php?slugid=365

MAY 2007

STUDY: CORPORATIONS SEEK SUCK-UP DIRECTORS, PUNISH THOSE WHO DO THEIR JOB

CNN - The most sought-after corporate board members are those who curry favor with fellow directors, not those who are active in standing up for shareholders, a new academic study has concluded. . . The study by business professors James Westphal of the University of Michigan and Ithai Stern of Northwestern University suggests that directors - who are supposed to be watchdogs for shareholders - still are not independent enough. . .

"Our findings indicate that directors who engage in monitoring and control behavior are effectively punished in the director labor market," Westphal and Stern wrote. "They are less likely to be selected onto additional boards, and thus they are less likely to become central in the board network" that exists throughout corporate America.

earlier stories