Showing posts with label Vulture Capitalism. Show all posts
Showing posts with label Vulture Capitalism. Show all posts
Saturday, June 6, 2015
Saturday, July 20, 2013
Detroit, A Conservative Utopia?
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Thursday, March 14, 2013
Wednesday, March 13, 2013
10 Worst People on Forbes 2013 Billionaires List | Alternet
10 Worst People on Forbes 2013 Billionaires List | Alternet
"The Forbes list of billionaires is brimming over with oligarchs, monopolists, thugs, miscreants, and hustlers. Not to mention right-wingers, narcissists, and parasitic predators."
"The Forbes list of billionaires is brimming over with oligarchs, monopolists, thugs, miscreants, and hustlers. Not to mention right-wingers, narcissists, and parasitic predators."
Wednesday, February 13, 2013
Tuesday, February 12, 2013
The Real Debt Issue: It’s Not How Much We Will Owe, It’s Who Will Hold the Note | Common Dreams
The Real Debt Issue: It’s Not How Much We Will Owe, It’s Who Will Hold the Note | Common Dreams
"The dirty little secret is that if we follow their advice, we the people will end up with more debt than if we don’t, and fat cats and corporations will be holding the note."
"The dirty little secret is that if we follow their advice, we the people will end up with more debt than if we don’t, and fat cats and corporations will be holding the note."
Wednesday, December 12, 2012
Twinkie Robbed Worker's Pensions to Pay CEO Bonuses
According to a report by the Wall Street Journal , Hostess’ CEO, Gregory Rayburn, essentially admitted that his company stole employee pension money and put it toward CEO and senior executive pay
Saturday, November 24, 2012
Hostess Employee Tells All About CEO Gutting Pensions, Pay Scales
Hostess Employee Tells All About CEO Gutting Pensions, Pay Scales
"This is only the tip of the iceberg. As equity funds have taken more and more control of companies, they have also robbed more and more employees of a living wage, their pensions, and more. One need only point to how bankruptcy laws were rewritten to understand how Hostess investors managed to make a killing and protecttheir investment at the expense of their employees, who paid for it with their hard-earned dollars.
"This is only the tip of the iceberg. As equity funds have taken more and more control of companies, they have also robbed more and more employees of a living wage, their pensions, and more. One need only point to how bankruptcy laws were rewritten to understand how Hostess investors managed to make a killing and protecttheir investment at the expense of their employees, who paid for it with their hard-earned dollars.
There ought to be a law against that."
Tuesday, November 20, 2012
How Vulture Capitalists Killed the Twinkie | Alternet
How Vulture Capitalists Killed the Twinkie | Alternet
"The demise of Hostess is a story of management that boosted its own salaries, while failing to make agreed payments into workers’ pension funds."
"The demise of Hostess is a story of management that boosted its own salaries, while failing to make agreed payments into workers’ pension funds."
Journalist Naomi Klein on Capitalism and Climate Change
Journalist Naomi Klein on Capitalism and Climate Change
"But first, if you've been curious about why New York Mayor Mike Bloomberg endorsed Barack Obama for re-election, just take another look at the widespread havoc caused by the Frankenstorm benignly named Sandy. Having surveyed all this damage Bloomberg Business Week concluded: "It's Global Warming, Stupid: If Hurricane Sandy doesn't persuade Americans to get serious about climate change, nothing will"."
"But first, if you've been curious about why New York Mayor Mike Bloomberg endorsed Barack Obama for re-election, just take another look at the widespread havoc caused by the Frankenstorm benignly named Sandy. Having surveyed all this damage Bloomberg Business Week concluded: "It's Global Warming, Stupid: If Hurricane Sandy doesn't persuade Americans to get serious about climate change, nothing will"."
Monday, November 19, 2012
Hostess To Pay $1.75 Million In Executive Bonuses After Blaming Unions For Bankruptcy
Hostess To Pay $1.75 Million In Executive Bonuses After Blaming Unions For Bankruptcy: Hostess Brands, the maker of sweet snacks like Twinkies that filed for Chapter 11 bankruptcy protection last week, will ask a bankruptcy judge today to approve a plan that will allow it to pay $1.75 million in bonuses to 19 of its executives. Hostess’ decision to file for bankruptcy came amid disputes with its union [...]/p
Wednesday, September 19, 2012
Bain’s Birth by Death Squads - In These Times
Bain’s Birth by Death Squads - In These Times
"But more important than Romney’s cognitive dissonance about his debt to government help is what his apparent acceptance of Salvadoran blood money says about his self-delusion, his greed or his ambition—or all three."
"But more important than Romney’s cognitive dissonance about his debt to government help is what his apparent acceptance of Salvadoran blood money says about his self-delusion, his greed or his ambition—or all three."
Sunday, September 16, 2012
The Post-Truth Campaign: Mitt Romney Tells 530 Lies in 30 Weeks
The Post-Truth Campaign: Mitt Romney Tells 530 Lies in 30 Weeks
"While the sheer number of Romney's lies are indeed unprecedented for a presidential campaign, his fact-free campaigning is simply the logical continuation of a trend that started in the George W. Bush administration, when Republicans literally walled themselves from reality."
"While the sheer number of Romney's lies are indeed unprecedented for a presidential campaign, his fact-free campaigning is simply the logical continuation of a trend that started in the George W. Bush administration, when Republicans literally walled themselves from reality."
Thursday, September 13, 2012
The Bain Way: Let the States Pick Up the Tab on National Debt?
The Bain Way: Let the States Pick Up the Tab on National Debt?
"Romney has had one major business experience - founding and running a private equity firm called Bain Capital, something very different than his father, who ran a car company. In the past several weeks there have been two detailed investigative stories on how he ran his private equity firm, and there has been much discussion in the media on how he ran his business differently than others: It has been dubbed, "The Bain Way"."
"Romney has had one major business experience - founding and running a private equity firm called Bain Capital, something very different than his father, who ran a car company. In the past several weeks there have been two detailed investigative stories on how he ran his private equity firm, and there has been much discussion in the media on how he ran his business differently than others: It has been dubbed, "The Bain Way"."
Wednesday, September 12, 2012
Sick Money: How Mitt Romney's Bain Investments Are Exploding the Deficit and Harming Our Health | Alternet
Sick Money: How Mitt Romney's Bain Investments Are Exploding the Deficit and Harming Our Health | Alternet
"Few individuals or organizations have been as influential as Mitt Romney and Bain Capital in worsening our runaway healthcare costs, causing unnecessary suffering, or accelerating our government's long-term deficit problem. Their highly leveraged investment strategy puts healthcare companies under enormous pressure to increase revenue. They often respond by overbilling -- or worse, by encouraging unnecessary medical treatments that can include anything from non-invasive tests to heart surgery."
"Few individuals or organizations have been as influential as Mitt Romney and Bain Capital in worsening our runaway healthcare costs, causing unnecessary suffering, or accelerating our government's long-term deficit problem. Their highly leveraged investment strategy puts healthcare companies under enormous pressure to increase revenue. They often respond by overbilling -- or worse, by encouraging unnecessary medical treatments that can include anything from non-invasive tests to heart surgery."
Tuesday, September 11, 2012
Greed and Debt: The True Story of Romney and Bain Capital | Common Dreams
Greed and Debt: The True Story of Romney and Bain Capital | Common Dreams
""By making debt the centerpiece of his campaign, Romney was making a calculated bluff of historic dimensions – placing a massive all-in bet on the rank incompetence of the American press corps. The result has been a brilliant comedy. A man makes a $250 million fortune loading up companies with debt and then extracting million-dollar fees from those same companies, in exchange for the generous service of telling them who needs to be fired in order to finance the debt payments he saddled them with in the first place. That same man then runs for president riding an image of children roasting on flames of debt, choosing as his running mate perhaps the only politician in America more pompous and self-righteous on the subject of the evils of borrowed money than the candidate himself. If Romney pulls off this whopper, you'll have to tip your hat to him: No one in history has ever successfully run for president riding this big of a lie. It's almost enough to make you think he really is qualified for the White House."
""By making debt the centerpiece of his campaign, Romney was making a calculated bluff of historic dimensions – placing a massive all-in bet on the rank incompetence of the American press corps. The result has been a brilliant comedy. A man makes a $250 million fortune loading up companies with debt and then extracting million-dollar fees from those same companies, in exchange for the generous service of telling them who needs to be fired in order to finance the debt payments he saddled them with in the first place. That same man then runs for president riding an image of children roasting on flames of debt, choosing as his running mate perhaps the only politician in America more pompous and self-righteous on the subject of the evils of borrowed money than the candidate himself. If Romney pulls off this whopper, you'll have to tip your hat to him: No one in history has ever successfully run for president riding this big of a lie. It's almost enough to make you think he really is qualified for the White House."
Friday, September 7, 2012
Saturday, September 1, 2012
PERRspectives: How We Built Bain Capital
PERRspectives: How We Built Bain Capital
"As it turns out, the silence about Mitt Romney's old company and the Republican sham that "you didn't build it" are related. Because when it comes to Bain Capital, in a very real sense you did build it. After all,your United States tax code doesn't merely allow the "carried interest exemption" that enables the likes of Mitt Romney to pay a lower rate than many middle class families. Without the public subsidy that is thecorporate debt interest deduction, there might not be a Bain Capital--or a private equity industry as we know it--at all."
"As it turns out, the silence about Mitt Romney's old company and the Republican sham that "you didn't build it" are related. Because when it comes to Bain Capital, in a very real sense you did build it. After all,your United States tax code doesn't merely allow the "carried interest exemption" that enables the likes of Mitt Romney to pay a lower rate than many middle class families. Without the public subsidy that is thecorporate debt interest deduction, there might not be a Bain Capital--or a private equity industry as we know it--at all."
Romney’s Former Company Under Investigation For Tax Evasion
Romney’s Former Company Under Investigation For Tax Evasion: Bain Capital, the private equity firm founded by presidential candidate Mitt Romney, is under investigation for questionable tax practices, according to the New York Times. Since July, New York Attorney General Eric Schneiderman has been issuing subpoenas to private equity firms including Bain, which he believes intentionally changed management fees into capital gains as a [...]/p
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