Tag: Corporate Bailouts
Restaurant owners got 30 times more federal Covid aid than workers
“If the subminimum wage for tipped workers persists, the restaurant industry is unlikely to recover from its growing labor crisis, regardless of how much money the federal government hands out to business owners.” by Kenny Stancil,…
Most profitable US companies fired workers, enriched shareholders during pandemic
“This is a global crisis but the big companies are not treating it as one—they haven’t skipped a beat.” by Kenny Stancil, staff writer Thursday, December 17, 2020 While the Covid-19 pandemic and corresponding economic crisis…
Disney fires 28,000 workers during stock buyback spree
“It appears that—prior to, and during the pandemic—Disney took good care of its top executives and shareholders—and now is hanging its front-line workers out to dry.” by Andrea Germanos, staff writer Wednesday, October 14 Sen. Elizabeth…
Bezos grew record-setting $13 billion richer on Monday as poor and working class in US face financial cliff
“In ONE DAY Jeff Bezos made well over 4,000 times what the average American earns in their ENTIRE LIFETIME.” by Julia Conley, staff writer Tuesday, July 21 Days before the expiration of federal unemployment benefits is…
Different names, same address: How big businesses got government loans meant for small businesses
ProPublica found at least 15 large companies that received over half a billion dollars in PPP loans using the same technique: Getting multiple loans sent to smaller entities they own. by Paul Kiel and Jack Gillum…
Small business owners to McConnell: Stop using our plight to push for Covid-19 corporate immunity
“With this perverse cost-shift, corporate immunity could result in only the most irresponsible corporations surviving the pandemic.” by Jake Johnson, staff writer Wednesday, May 20 A coalition of more than 30,000 small business owners across the…
The bailout Is working — for the rich
The economy is in free fall but Wall Street is thriving, and stocks of big private equity firms are soaring dramatically higher. That tells you who investors think is the real beneficiary of the federal government’s…
Federal Reserve to offer corporations $500 billion no-strings-attached bailout loophole
‘Lining Up at the Trough’ “Big corporations have shown time and again that they will put their shareholders and executives ahead of their workers if given the choice.” by Julia Conley, staff writer A Federal Reserve…
Warren and Ocasio-Cortez call for halt to corporate mergers during pandemic
“We cannot allow mega-corporations and private equity vultures to exploit the coronavirus crisis and entrench their already immense economic power.” by Julia Conley, staff writer Tuesday, April 28 Intent on protecting working people and small businesses…
