It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The House budget proposal that was unveiled last week — and was praised as “bold” and “serious” by all of Washington’s Very Serious People — includes savage cuts in Medicaid and other programs that help the neediest, which would among other things deprive 34 million Americans of health insurance. It includes a plan to privatize and defund Medicare that would leave many if not most seniors unable to afford health care. And it includes a plan to sharply cut taxes on corporations and to bring the tax rate on high earners down to its lowest level since 1931.
The nonpartisan Tax Policy Center puts the revenue loss from these tax cuts at $2.9 trillion over the next decade.
The current profit-reporting season is shaping up to be one of the best ever. For non-financial firms in the S&P 500, earnings per share are now higher than they have been for at least a decade. With over half of the companies in the S&P 500 having reported, profits in 2010 were up by 17% compared with 2009. (The year-on-year increase is far greater if financial firms are included, since they plunged in 2009 and then rebounded spectacularly.)
The richest Americans got even richer this year, according to the new Forbes 400 list, even as the country's total net worth tanked during the second quarter.
The top 400, all of whom are worth at least $1 billion, saw their combined wealth increase 8 percent this year, to the dizzying total of $1.37 trillion, according to analysis from CNN.
Meanwhile, according to data released last week by the Federal Reserve, the net worth of American households and non-profits in the second quarter of this year plunged 2.8 percent, or $1.52 trillion, from the previous quarter, to settle at $53.5 trillion.
“Around 90% of the productivity growth in corporate America has come from cost-cutting, and that is now reaching its limit,” says Carsten Stendevad of Citigroup’s corporate-advisory arm. Scared for their jobs during the crisis, employees toiled more for no more money; but they cannot be whipped much harder.
The USAID-Walmart regional agreement builds on experience gained from previous collaborations in Guatemala, Honduras, Nicaragua and El Salvador. One of the lessons learned is that formal relationships between the suppliers and the corporate buyers provide the long-term perspective necessary to ensure the sustainability of the program. Another is that small farmers benefit greatly when buyers explain their quality and quantity standards and share their production calendars.
The U.S. Agency for International Development and Walmart, a U.S. multinational retailer, have agreed to jointly support small rural farmers in Central America under a partnership that aims to connect them with the company’s regional and international supply chains.
The three-year partnership links USAID’s Feed the Future and Walmart’s Global Sustainable Agriculture Goals, which focuses on supporting farmers and their communities, sustainably sourcing agricultural products and producing more food with less waste.
Actitivites conducted under the partnership will be jointly funded by USAID, Walmart, Walmart Foundation, Central American governments, non-governmental organizations and other private sector partners.
In 1986, Sam Walton, the founder of Wal-Mart, had a problem. He was under growing pressure from shareholders — and his wife, Helen — to appoint a woman to the company’s 15-member board of directors.
So Mr. Walton turned to a young lawyer who just happened to be married to the governor of Arkansas, where Wal-Mart is based: Hillary Rodham Clinton.
Mrs. Clinton’s six-year tenure as a director of Wal-Mart, the nation’s largest company, remains a little known chapter in her closely scrutinized career. And it is little known for a reason. Mrs. Clinton rarely, if ever, discusses it, leaving her board membership out of her speeches and off her campaign Web site.
Fellow board members and company executives, who have not spoken publicly about her role at Wal-Mart, say Mrs. Clinton used her position to champion personal causes, like the need for more women in management and a comprehensive environmental program, despite being Wal-Mart’s only female director, the youngest and arguably the least experienced in business. On other topics, like Wal-Mart’s vehement anti-unionism, for example, she was largely silent, they said.
Her years on the Wal-Mart board, from 1986 to 1992
Speaking at the signing ceremony, the Head of Development Cooperation of DANIDA, Mr. Jan Poulsen, said establishment of BUSAC Fund was based on the belief that when private businesses in Ghana flourish, many people would get decent jobs and would help many families to move out of poverty.
Originally posted by Asktheanimals
These obscene profits come from more than just tax cuts. The typical American worker has been pushed to the limit, often being given the responsibilities of recently-fired co-workers. I have seen this many times and nearly everyone I know who works for corporate America has been nearly worked to death.
Scared for their jobs during the crisis, employees toiled more for no more money; but they cannot be whipped much harder. To increase profits still further, firms need to increase sales far more than most analysts think they will, reckons Mr Stendevad.
Squeezing the lemon
Others disagree. “There is a lot more juice to be squeezed out of the lemon,” insists Hal Sirkin of BCG, a consultancy. Firms brag about having introduced “lean systems”, but most have done only “10-25% of what they could do”, says Mr Sirkin.
Originally posted by Illusionsaregrander
And the wealthiest Americans just keep getting richer.