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Tag Archives | R&D

Delta Pilots Association – Retirement seminar

By Delta Pilots Association (DPA) (originally published by Delta Pilots Association Website) – Talk of William Lazonick in DPA Retirement Seminar (starts at 1:20:40) Watch Video [ Cross-posted from Delta Pilots Association Website of Agust 10, 2016 at https://webcast.crescentdigital.com/ob8y23 ]

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The truth about finance

By Stephen Maher (originally published by Jacobin) – Hillary Clinton says she’s cracking down on Wall Street. She argues that her new financial reform plan will curb speculation and push back against “the tyranny of short-termism.” It’s a move designed to establish her progressive bona fides and assuage a public increasingly angry at the free […]

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Pfizer jacks up drug costs, pays billions to stockholders

By Liz Iacobucci (originally published by NH Labor News) – Ever wonder why prescription drug costs are so high? Take a few minutes and read Bill Lazonick’s piece on Pfizer. From January 2001 through September 2015, Pfizer paid out [to stockholders] $95.5 billion in buybacks and $87.1 billion in dividends…. [Cross-posted from NH Labor News publication […]

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Surging U.S. stock buybacks dwarf innovation spending

By Karen Brettell, David Gaffen and David Rohde (originally published by Saint Louis-Dispatch) - When Carly Fiorina started at Hewlett-Packard Co. in July 1999, one of her first acts as chief executive officer was to start buying back the company’s shares. By the time she was ousted in 2005, HP had snapped up $14 billion of […]

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America’s CEOs and hedge funds are starving the nation’s corporations to death

By Cory Doctorow (originally published by boingboing) – Stock buybacks (previously) allow CEOs to drive up the company’s share-price by using profits to buy shares back from investors, rather than investing the money in wages, R&D, capital or expansion. Many CEOs’ pay is based on share-price, and this, combined with “activist investors” (mostly hedge-fund managers) […]

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Why stock buybacks are cannibalizing innovation

By Karen Brettell, David Gaffen, and David Rohde (originally published by Fortune) – When Carly Fiorina started at Hewlett-Packard in July 1999, one of her first acts as CEO was to start buying back the company’s shares. By the time she was ousted in 2005, HP had snapped up $14 billion of its stock, more […]

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