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Tag Archives | CISCO

Feast for investors sells workers short; As US companies spend billions repurchasing shares, employees and economy may pay the price

By Michael Kranish (originally published by Boston Globe) – Bob Ordemann’s team of 80 software developers and engineers filed into a conference room here one day last September at the offices of the giant networking company Cisco. The room was deep within the company’s bucolic campus, nestled amid woodlands where employees brainstorm while strolling along […]

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In corporations, it’s owner-take-all

By Harold Meyerson (originally published by The Washington Post) – Labor Day — that mocking reminder that this nation once honored workers — is upon us again, posing the nagging question of why the economy ceased to reward work. Was globalization the culprit? Technological change? Anyone seeking a more fundamental answer should pick up the […]

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How corporations inflate CEO pay with stock buybacks — And why it’s bad for the rest of us

By Sam Pizzigati (originally published by BilMoyers.com) – Back in 1979, notes a new Economic Policy Institute report released last week, households in America’s statistical middle — the 20 percent of households making more than the nation’s poorest 40 percent and less than the nation’s most affluent 40 percent — averaged $16.72, after inflation, per […]

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Companies turning again to stock buybacks to reward shareholders

By Jia Lynn Yang (originally published by The Washington Post) – Battered by months of dis­appointing sales, networking giant Cisco needed a way to give its shareholders a pick-me-up. So the San Jose-based firm did what has become routine for many big U.S. companies in a slow-growing economy: It announced last month that it was […]

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What drives the stock market: Innovation, speculation, or manipulation?

By William Lazonick (originally published by the Roosevelt Institute) - In the latest installment of his “Breaking Through the Jobless Recovery” series, economist William Lazonick exposes the financial engineering that’s far more in style than good old fashioned products. During the 1980s and 1990s, Americans fell in love with the stock market. The “go-go years” of the […]

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