MAD asks…Who said it? Mitt Romney or Montgomery Burns (Simpsons)?
The United States of White Male Corporatism™
Here’s an example of one of the corporations that the Republicans are so concerned about not increasing marginal tax rates on — the “job creators”. Sure, let’s get them more tax cuts, so they can pay out ridiculous bonuses to themselves and their executives while laying off more American workers. Why not?
Newspaper Giant Gives CEO $32 Million Severance Package After Laying Off 20,000 Workers In Six Years
When Craig Dubow resigned as CEO of the nation’s largest newspaper conglomerate amid health problems last year, he ended a six-year stint that “was, by most accounts, a disaster.” Gannett, the parent company of the USA Today and 80 other American newspapers, had seen its revenue plummet $1.7 billion and its stock price fall 86 percent, from $72 a share to just over $10.
To counter those losses, Gannett shed jobs, and a lot of them. Industry estimates say the company has laid off at least 20,000 workers since 2005, reducing its workforce from 52,000 to roughly 32,000. Despite those losses, Gannett awarded Dubow a severance package worth $32 million, NPR reports:
Dubow’s final compensation package includes $12.8 million in retirement benefits, $6.2 million in disability benefits and a $5.9 million severance payment, according to the filing. Gannett stock options and restricted stock, which Dubow had accrued during his years of employment with the company, were also part of the package. Those stock awards are valued at nearly $7 million.
Separately, Gannett will pay $25,000 to $50,000 annually for a $6.2 million life insurance policy covering Dubow and another $70,000 annually for benefits such as health insurance, home computer and secretarial assistance and financial counseling. He will receive most of these benefits for three years unless he goes to work for a competitor, according to the filing.
Only in the United States of White Male Corporatism can you be a complete failure, put 20,000 people out of work, get a $32 million severance package, and still get an entire political party to fight to get you even more — while convincing the plebeians to take even less.
(via randomactsofchaos)
Source: underthemountainbunker
Romney Profits Mightily from Right-Wing Radio
Pimpin’ ain’t easy.
Ladies and gentleman: The 1%.
Source: philistine
GOP fuels the gas problem. Wall Street fueling the problem. Goldman Sachs speculation in oil commodities increasing the cost of gas by $.80 per gallon.
Woohoo FREE MARKET deregulation at work! All hail goldman squid.
The war Ronald Reagan started against the working class is a resounding success today
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Opportunities for Women – published the report and it finds that a single Michigan resident needs to make more than 12 bucks an hour just to house – clothe – and feed him or herself. The minimum wage in Michigan is well short of that marker – just $7.40. But when you throw children into the equation – the picture is even grimmer.
A mother with two children needs to make about $24 dollars an hour to meet their basic needs – that’s more than three times higher than minimum wage, and that’s working a 40-hour week. That means each and every month – someone who’s trying to raise their kids on minimum wage has to forego dinner – or rent – or electricity – or a new pair of shoes just to get by in America – the richest nation on the planet. I guess Republicans will argue they just need to get a credit card.
Looks like the war Ronald Reagan started against the working class 30 years ago is a resounding success today.
Submitted by Louise Hartmann from The Thom Hartmann Program Blog (via truth-has-a-liberal-bias)
Source: thomhartmann.com
Rachel Maddow - The Good Old Days of Enron? The Wall Street style corporation off Wall Street.
Question - you can either regulate more or less. I know people have very strong differences of opinions on this point. My question is, if you deregulate, how do we protect people against corruption or exploitation? Is it a belief that things will regulate themselves through transparency? Would would require transparency?
(via eddyizm)
