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robertogreco : bonuses   5

potlatch: from economics to violence
"Bonuses have reached a scale now where they can quite legitimately be understood as a fiscal issue. Once again, the concept of 'fairness' obscures the issue. The fact that a banker earns in 15 minutes what a cleaner earns in a year (or whatever) is mind-boggling, but slightly distracting from the political logic. More significantly, next month banks will pay out £7bn in bonuses to their own staff, earned through trades and fees earned as intermediaries. Given that this is occurring in a semi-nationalised, government-backed industry, it is surely far more relevant to compare that £7bn to the £3bn being cut from university tuition. "
economics  politics  banking  violence  funding  education  highereducation  highered  disparity  bonuses  2010  uk  nationalization  fairness  power  class  society 
december 2010 by robertogreco
Washington's Blog - The Real Reason Newspapers Are Losing Money, And Why Bailing Out Failing Newspapers Would Create Moral Hazard in the Media
"newspapers, bought up by corporations in last generation, have pursued profits at expense of news gathering. By basing their businesses on advertising over circulation, newspaper owners have neglected their true economic base & core constituency...firing reporters that cover subjects that affect the community"... "primary culprit is same as it is all over country, in every industry & in government: equity extraction...when executives expect unrealistic profits of 20%+ per annum on businesses something has got to give. It's an unnatural & unsustainable growth rate. For the first ten or so years of a small to medium size company's life? Sure. But when you are 3M, or GE? Unrealistic and ultimately impossible." A comment: "Everything in our economy, from manufacturing to finance, insurance, real estate and health care, seems to have parasites attached. We need a new model of virtue - quality, not profits - and a new measure of prosperity - salaries for many, not profits for a few."
newspapers  journalism  profits  crisis  moralhazard  bailouts  banking  bonuses  corporations  communitees  business  2009 
december 2009 by robertogreco
Douglas Rushkoff » Bank Bonuses = Carpet Bag
"Banks, like any other corporation, are instruments for extracting value and wealth – not creating it. They are more like vacuum cleaners than factories. That’s what they were created for: to replace local banking and commerce with institutions that could extract wealth and value from the periphery and pay it back to the center."
money  finance  banking  capitalism  douglasrushkoff  bonuses  corporations 
august 2009 by robertogreco
Taking Note: The Real Scandal
"If AIG spent $160 million on bonuses ...out of $30 billion bailout it received...from American taxpayer, what proportion...did not go to bonuses?... 99.5%...AIG is as pure as Ivory soap...bonuses are smaller than small change. What is shocking about the bailouts begun by Bush & continuing under Obama is how huge they are...impossible to imagine numbers involved except when they are set against one that uses mind-boggling masses of resources to produce mind-boggling masses of output...economic crisis is showing us that policy battles of most years are concerned with nickles & dimes. Earmarks worth $8 billion – pennies...cost of healthcare for children – nickels...Social Security shortfall after 2041 – dimes. The really big money in the economy is as hard to grasp as distance to nearest star. We need to think not in miles but in light years of spending...2002-06...73% of additional income went to top 1% of households...system has failed...over last several decades"
crisis  aig  bailouts  money  numbers  economics  via:cburell  wealth  society  rich  poor  us  capitalism  georgewbush  barackobama  billclinton  bonuses  policy  politics  healthcare  socialsecurity  earmarks 
march 2009 by robertogreco

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