By Thomas Clarke (originally published by The Conversation) - The CEO of Domino’s Pizza takes home roughly 435 times the average full-time wage. Jeff Bezos has become the world’s richest person with a A$200 billion fortune off the backs of low-paid Amazon warehouse workers… [Cross-posted from The Conversation publication of July 25, 2018 at http://theconversation.com/why-shareholder-value-drives-income-inequality-100324]
Tag Archives | maximizing shareholder value
FollowAs Americans get gouged on healthcare, Big Pharma cannibalizes profit to feed shareholders
By Angelo Young (originally published by Salon.com) – To give you an idea of how much Americans are getting gouged on their purchases of medicine, consider this: Over the past three years, the cost of six commonly used drugs categories, including treatments for asthma, diabetes, cancer, and HIV, have risen by an eye-popping average of 30 percent, or […]
Shareholders are overrated
By Susan Holmberg (originally published by Quartz at Work) - For over four decades, corporations have shifted their strategy to one singular goal: maximizing payouts for shareholders… [Cross-posted from Quartz at Work publication of June 25, 2018 at https://qz.com/work/1313651/shareholders-are-overrated/]
Maintaining the capitalist sugar high: the age of corporate buybacks
By Jon Jeter (originally published by MintPressNews) – Weeks after he was sworn in as president, Donald Trump met with Harley-Davidson executives and union representatives at the White House, to win support for his tax-plan proposal: I think you’re going to even expand — I know your business is now doing very well, and there’s a lot of […]
It’s time to ban stock buybacks
By Justin Miller (originally published by The American Prospect) – In the aftermath of the Trump tax cuts, Republicans have endlessly crowed about how corporations are using their newfound savings to give their employees wage hikes and bonuses… [Cross-posted from The American Prospect publication of February 8, 2018 at http://prospect.org/article/time-to-ban-stock-buybacks]
Outrage at corruption drove the reformation 500 years ago, couldn’t similar outrage drive a modern economic reformation?
By Henry Leveson-Gower (originally published by 10yearsafter the crash) - Larry Elliot in his piece ‘Heretics welcome! Economics needs a new Reformation’ reported on Steve Keen and other leading economists ‘nailing’ 33 theses on ‘economic reformation’ to the door of a top university. This was designed to echo the apocryphal story of Luther nailing up his 95 […]
Economics professor says tax cuts won’t create jobs,
By Katharine Webster (originally published by UMass Lowell News) - Economics Prof. William Lazonick has been sounding the alarm about corporate stock buybacks for years. Since the early 1980s, when the Securities and Exchange Commission eased regulations on buybacks, corporations have increasingly used profits to repurchase their own shares, his research shows… [Cross-posted from UMass Lowell News publication of November 22, […]
Big Pharma plays every dirty trick in the book to transform teens and adults into opioid-zombiefied addicts,
By Lynn Stuart Parramore (originally published by AlterNet) - Over a 40-year career, Philadelphia attorney Daniel Berger has obtained millions in settlements for investors and consumers hurt by a rogues’ gallery of corporate wrongdoers from Exxon to R.J. Reynolds Tobacco. But when it comes to what America’s prescription drug makers have done to drive one of the […]
Mission control: Drug developers test the ‘benefit corporation’ business model
By Arran Frood (originally published by Nature Medicine) - The outsized role that money can have in drug development has become a hot-button issue. One July 2017 working paper found, for example, that some of the largest pharmaceutical companies in the world spend more money buying back shares in their own company and paying dividends to shareholders than they spend on core research and […]
How economists turned corporations into predators
By Lynn Parramore (originally published by Institute for New Economic Thinking Perspectives) - In a new Institute for New Economic Thinking Perspectives (INET) paper featured in the Financial Times, economist William Lazonick lays out a theory about how corporations can work for everyone – not just a few executives and Wall Streeters. He challenges a set of controversial ideas […]