Tag: Corporate Greed
As executives hike prices, US corporations rake in biggest profits since 1950
“Prices are high,” said Sen. Sherrod Brown, “because corporations are raising them—so they can keep paying themselves with ever-larger executive bonuses and stock buybacks.” by Jake Johnson, Common Dreams November 30, 2021 New data released by…
He Tore Down Motels Where Poor Residents Lived During a Housing Crisis. City Leaders Did Nothing.
by Anjeanette Damon, photography by David Calvert, special to ProPublica November 12, 2021 Co-published with Reno Gazette Journal For most of his life, Ernest Block has managed to stay one step ahead of homelessness. When he…
PG&E Charged With Manslaughter
11 Felony Counts— 2020 Zogg Fire “PG&E has a history with a repeated pattern of causing wildfires that is not getting better,” said Shasta County District Attorney Stephanie Bridgett. “It’s only getting worse.” by Brett Wilkens, Common…
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…
‘Pandemic profits’ of billionaires could fully fund $3,000 stimulus checks for every person in US
“America’s billionaires could pay for a major Covid relief bill and still not lose a dime of their pre-virus riches.” by Jake Johnson, staff writer Wednesday, December 9 America’s 651 billionaires have gained so much wealth…
Rogues gallery of corporate liars
by Wade Rathke Saturday, November 21, 2020 Pearl River We should all know the name, Thomas Midgley? He was a chemist for General Motors almost one-hundred years ago, when General Motors and Rockefeller’s Standard Oil…
Are corporations picking more pockets as government snoozes?
by Wade Rathke October 15, 2020 New Orleans, Maybe I’m wrong? Maybe I just woke up with a manic pandemic depression about the current pandemic depression? Maybe it’s always like this, and I haven’t noticed it…
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…
Meat industry sacrificed workers during pandemic to keep exports moving
‘It Was a Fake Meat Shortage’ “Our country sacrificed the lives of meat workers to protect the business of meat companies.” by Eoin Higgins, staff writer Wednesday, June 17 As workers in meat processing plants around…
‘How the Trump White House sees you’: top economic adviser under fire for calling workers ‘human capital stock’
“They’ve always been indifferent to human life. And in the face of mass death, the masks are coming off.” by Jake Johnson, staff writer Tuesday, May 26 In a remark critics characterized as further evidence that…
How pro-Trump millionaires robbed small businesses of coronavirus aid
Thanks to a specially carved loophole, one multi-millionaire claimed 339 times more than the average small business received. by Jim Hightower May 20, 2020 Monty Bennett was just another faceless right-wing millionaire on the long list…
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…
Whistleblower: Wall Street has engaged in widespread manipulation of mortgage funds
Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse. by Heather Vogell Friday,…
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…
Why offering businesses immunity from coronavirus liability is a bad idea
by Timothy D. Lytton, Georgia State University Governors around the country are attempting to restart the economy by easing restrictions put in place to prevent the spread of COVID-19. The prospect of returning to “normal”…
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…
Coronavirus put her out of work, then debt collectors Froze her savings account
Kim Boatswain’s tax refund could have helped her get through the coronavirus slowdown. But debt collectors seized it. There are few options for Texans like Boatswain whose money was taken just before the state temporarily banned…
Ocasio-Cortez Rejects Settling for Crumbs in Next Covid-19 Stimulus
‘Incrementalism Is Not Helpful in This Moment’ “I’m not here for a $5 bill. And I will not insult my community with one.” by Jake Johnson, staff writer Rep. Alexandria Ocasio-Cortez, the only Democrat in Congress…
UnitedHealth group posts surge in profits as millions lose insurance and thousands die
‘Thriving During a Pandemic’: “The earnings were so good, the company said it still expects to make as much in total profits this year as they predicted in December… when no one could predict the massive…
A major medical staffing company just slashed benefits for doctors and nurses fighting coronavirus
Alteon Health, a staffing company backed by private-equity firm Frazier Healthcare Partners, will cut salaries, time off and retirement benefits for providers, citing lost revenue. Several hospital operators announced similar cuts. by Isaac Arnsdorf March 31,…
Walmart was almost charged criminally over opioids. Trump appointees killed the indictment.
Even as company pharmacists protested, Walmart kept filling suspicious prescriptions, stoking the country’s opioid epidemic. A Republican U.S. Attorney in Texas thought the evidence was damning. Trump’s political appointees? Not so much. by Jesse Eisinger and…
