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Tag Archives | Income Inequality

The big and possibly dumb buyback boom,

By Justin Fox (originally published by Bloomberg View) - Buybacks are really popular right now! In February, according to research firm TrimTabs, U.S. corporations announced $153.7 billion in share repurchases – a new one-month record. Investment strategists at JPMorgan Chase & Co. estimate that buybacks will total more than $800 billion this year, which would also be a record… [Cross-posted from Bloomberg View publication of March 6, […]

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The buyback boondoggle is beggaring America

By Robert Reich (originally published by Newsweek) - Trump’s promise that corporations will use his giant new tax cut to make new investments and raise workers’ wages is proving to be about as truthful as his promise to release his tax returns… [Cross-posted from Newsweek publication of February 9, 2018 at http://www.newsweek.com/robert-reich-buyback-boondoggle-beggaring-america-802391] Newsweek article reprinted in eurasiareview publication of […]

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Defense firms spend big on lucrative buybacks

By Alex Nunes (originally published by Providence Journal) - Faced with the prospect of hiring thousands of workers to meet the surging demand for nuclear submarines, Navy contractor Electric Boat has turned to Rhode Island and Connecticut over the last two years to help defray by millions of dollars the cost of worker training… [Cross-posted from Providence […]

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How CEO stock buybacks parasitize the economy

By Ralph Nader (originally published by Evonomics) - 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 Reagan. That was when SEC Chairman John Shad, a former Wall Street […]

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America’s plutocrats are running for office across the country: Can our democracy survive it?

By Les Leopold (originally published by AlterNet) – 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 this means for democracy… [Cross-posted from AlterNet publication of October 4, 2017 […]

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Destructive stock buybacks—that you pay for

By Ralph Nader (originally published by Nader Page) - 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 Reagan. That was when SEC Chairman John Shad, a former Wall […]

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Recession on the horizon

By Martin Hart-Landsberg (originally published by Monthly Review Online) – According to Bloomberg News, analysts at a number of major financial institutions see “mounting evidence” that a recession is not too far away. In a way, their assessment is not surprising. The current expansion, which started in June 2009, is now 99 months long, making it the third […]

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Don’t pop open the bubbly just yet! This market buying activity used to be illegal,

By Richard Bowen (originally published by richardmbowen.com) - The stock market is up and we should all be celebrating. However before you pop open the champagne, let’s look at the real story. The stock buybacks driving the market used to be illegal because they manipulated the market… [Cross-posted from richardmbowen.com publication of August 3, 2017 at http://www.richardmbowen.com/dont-pop-open-the-bubbly-just-yet-this-market-buying-activity-used-to-be-illegal/]

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Let’s talk about “maximizing shareholder value”

By Cullen Roche (originally published by Pragmatic Capitalism) – The idea of “maximizing shareholder value” (MSV) has been in the news a lot lately. This is an idea generally associated with free market capitalism that states corporations should be run primarily for the purpose of maximizing the value they create for owners…. [Cross-posted from Pragmatic Capitalism publication of […]

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Q&A: Nick Hanauer believes that stock buybacks are at the root of American inequality

By Arne Alsin (originally published by Forbes) - Over the past thirty years, it seems the rich have gotten richer and the poor have gotten poorer. All the data support this: Homelessness has spiked in urban areas, while CEO pay has skyrocketed over the past three decades… [Cross-posted from Forbes publication of July 10, 2017 at https://www.forbes.com/sites/aalsin/2017/07/10/qa-nick-hanauer-believes-stock-buybacks-are-the-root-of-american-inequality/#79316c1e31a1]

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