Update: 300 economists sign letter supporting nomination of Yellen as Fed Chair
From today’s LA Times: More than 300 economists have signed anopen letter to President Obama urging him to nominate Janet L. Yellen to be the next head of the Federal…
Labor meeting stresses immigration reform, reaches out to non-unions
At one of the largest annual gatherings of union workers nationwide, overtures are being made to reform the labor movement by forming official alliances with non-union progressive causes including that…
Nobel laureate criticizes Summers for deregulation leading to recession
Nobel laureate economist Joseph Stiglitz makes a case for Janet Yellen to head the Federal Reserve, and criticizes Larry Summers, who is President Obama’s alleged first choice, for his support…
Summers opposed as pick for Fed Chair by Editorial Board of the NYT
The editorial board of the New York Times makes a clear and convincing case that Lawrence Summers should not be nominated as the Chair of the Federal Reserve. I couldn’t…
LA city workers rally for living wage
From yesterday’s LA Times Local: Hundreds of workers rallied outside the Los Angeles County Board of Supervisors meeting on Tuesday, demanding an increase to the “living wage” that county contractors…
Trader Joe’s embraces living wage, rejects Walmart-style labor policies
From The Atlantic, March 25, 2013: The average American cashier makes $20,230 a year, a salary that in a single-earner household would leave a family of four living under the…
Moody’s to downgrade large banks
FROM THE NYT DEAL BOOK BLOG: If true, this is an important step by the market to correct for false advertising. One question is whether it will make a difference…
Does the Affordable Care Act create more part-time work? 2 perspectives
One of the objections to the Affordable Care Act is that it will encourages employers to cut employee hours to create more part time work in order to avoid the…
SEC takes harder line against fraud
The Securities and Exchange Commission signaled it was taking a harder line on Wall Street’s rampant problem with fraud by extracting its first admission of wrongdoing from Philip Falcone, CEO…
Cisco cuts 4,000 jobs despite better than expected quarterly earnings
The nation’s largest computer infrastructure company today announced it would cut 4,000 jobs, representing 5 percent of its workforce, citing the challenge of global competition as reason to reorganize despite…