User: flenvcenter Topic: Economics and Jobs-National
Category: Finance
Last updated: Jul 21 2017 07:46 IST RSS 2.0
 
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Teachers union leader bashes Betsy DeVos — and DeVos strikes back 21.7.2017 Washington Post
Teachers union leader bashes Betsy DeVos — and DeVos strikes back
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The Great Los Angeles Revolt Against Cars 17.7.2017 American Prospect
This article appears in the Summer 2017 issue of The American Prospect magazine. Subscribe here .  On May 20, 2016, residents of downtown Los Angeles boarded a passenger rail car and traveled 15 miles west to the water’s edge—something no Angeleno had been able to do since the early 1950s. The new Expo Line extension, colored aqua because of its connection to the ocean, prompted memories of the old Pacific Electric streetcar, which traveled practically the same route before the line was shut down in 1953. “My grandparents talked about going to the beach on dates from Mid-City,” says Los Angeles Mayor Eric Garcetti. “I wanted to do that for my grandkids.” Denny Zane was on the Santa Monica platform at 4th Street and Colorado Avenue that day. He’d been mayor of the beach town in 1990, when the Los Angeles County Transportation Commission (later known as the Metropolitan Transportation Authority, or Metro) had purchased the Expo Line right-of-way from the Southern Pacific Railroad. City fathers had been so ...
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If Foxconn brings 10,000 jobs to southeastern Wisconsin, Illinois stands to benefit 15.7.2017 Chicago Tribune: Business
Southeastern Wisconsin is in the running to land a behemoth electronics manufacturing facility that could bring 10,000 jobs, a potential game-changer for the region if the deal goes through. Taiwan-based Foxconn Technology Group, a major electronics manufacturer well known for making Apple's ...
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A city pension board vote could add to Los Angeles' budget woes 11.7.2017 LA Times: Commentary

The agency that delivers retirement benefits to thousands of Los Angeles city employees is looking to scale back its investment projections — a move that could blow a hole in an already precarious municipal budget.

The board that oversees the Los Angeles City Employees’ Retirement System will meet...

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Will Trump Kill the CFPB? 8.7.2017 American Prospect
This article appears in the Summer 2017 issue of The American Prospect magazine. Subscribe here .  It began by comparing a mortgage and a toaster. That’s how then–Harvard Law School professor Elizabeth Warren made the case for a government consumer financial protection agency akin to the Consumer Product Safety Commission created under President Nixon in 1972. Warren’s 2007 article “Unsafe at Any Rate,” a reference to Ralph Nader’s 1965 book Unsafe at Any Speed, planted the seed for what would later become the Consumer Financial Protection Bureau (CFPB), an agency charged with making “consumer financial markets work for consumers, responsible providers, and the economy as a whole.” Her persuasive argument made the need for such an agency crystal clear to ordinary consumers: It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the ...
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Who Is Wilbur Ross? 3.7.2017 American Prospect
This article appears in the Summer 2017 issue of The American Prospect magazine. Subscribe here .  The Senate confirmed Wilbur Ross as Trump’s new secretary of commerce by a vote of 72 to 27, with Democrats closely divided. Democrats are understandably conflicted over this appointment. A private-equity billionaire, Ross has also done deals with unions. He poses as a friend of labor, a savior of bankrupt companies, a creator of jobs, a turnaround wizard. He can sound like an economic nationalist. Now, as secretary of commerce, he is the architect of government policies to create jobs in this country. What will that mean? Ross is worth an estimated $2.5 billion to $2.9 billion, according to various industry estimates. He has made his billions by buying up struggling or bankrupt companies on the cheap. He has used bankruptcy laws to dump health and pension benefits for workers when buying distressed companies. He has relied on the North American Free Trade Agreement and the World Trade Organization to ...
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The Daily 202: Thwarted in Washington, the Koch network racks up conservative victories in the states 27.6.2017 Washington Post: Politics
Reducing union power, promoting private education, changing sentencing laws – often under the radar
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Trump's 'emoluments' defense argues he can violate the Constitution with impunity. That can't be right 26.6.2017 LA Times: Commentary

When the president of the United States violates the Constitution there must be a way for a federal court to hear the case and provide a remedy. Three different lawsuits have been filed against President Trump claiming that he is violating the emoluments clauses of the Constitution by receiving...

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Kentucky's Hedge Funder Governor Keeps State Money In Secretive Hedge Funds 24.6.2017 Politics on HuffingtonPost.com
Kentucky’s public pension system is a long-running,  worst-in-the-nation disaster. Even as state workers chip in their fair share, the system suffers from years of chronic underfunding by the state. Seeking higher returns, the program, formally known as Kentucky Retirement Systems, has turned to “alternative investments” such as private equity and hedge funds. But those funds also carry far more risk than traditional investments in stocks and bonds ― and much higher fees.  The year before the state’s Republican governor, Matt Bevin, was elected, the pension system had  25 percent more alternative investments than its peers, 27 percent higher costs and 15 percent lower long-term returns, according to a report prepared for the pension board. As a part-owner of a hedge fund himself , Bevin said in 2015 that he didn’t have a problem  with the pension system’s heavy reliance on alternative investments like hedge funds. But he campaigned on promises to improve the system and shore it up for the future. He ...
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Globalization Will Work If We Stop Catering To The Elite, Says Larry Summers 22.6.2017 Politics on HuffingtonPost.com
Larry Summers is an American economist. He served as chief economist for the World Bank from 1991 to 1993, U.S. treasury secretary from 1999 to 2001 and president of Harvard University from 2001 to 2006. Summers is currently a professor at Harvard and a member of the Berggruen Institute’s 21st Century Council . He recently spoke to The WorldPost about globalization in the era of U.S. President Donald Trump and Brexit . What are the key policies of a centrist politics that is pro-globalization? In the wake of Brexit and Trump’s election, you have called for a “ responsible nationalism ”  that responds to the needs of those voters. What does that mean in practice? First of all, some of this is about policies. But some is about the extent to which we are projecting a global attitude that sees everyone in the world as a fellow human being and the extent to which you are projecting a concern for certain people because they are American. 'As a global leader, we have not necessarily displayed the uppermost ...
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Myths of Globalization: Noam Chomsky and Ha-Joon Chang in Conversation 22.6.2017 Truthout - All Articles
Author Ha-Joon Chang. (Photo: New America ; Edited: LW / TO) Income inequality is not caused by globalization itself but rather by economic policies that, since the 1980s, have increasingly been set by transnational corporations, Ha-Joon Chang and Noam Chomsky point out. But globalization during the era of industrial capitalism has always enhanced dependence, inequality and exploitation, often to horrendous extremes. Author Ha-Joon Chang. (Photo: New America ; Edited: LW / TO) You can fuel thoughtful, authority-challenging journalism: Click here to make a tax-deductible donation to Truthout. Since the late 1970s, the world's economy and dominant nations have been marching to the tune of (neoliberal) globalization, whose impact and effects on average people's livelihood and communities everywhere are generating great popular discontent, accompanied by a rising wave of nationalist and anti-elitist sentiments. But what exactly is driving globalization? And who really benefits from globalization? Are ...
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Trump keeps touting jobs spurred by Saudi deals. It's not clear they'll ever come 16.6.2017 LA Times: Nation

President Trump can’t stop boasting about nearly $400 billion in military and business deals his administration made during his two-day visit to Saudi Arabia last month.

“These deals will bring many thousands of jobs to our country,” he said as he convened his first full Cabinet meeting Monday....

The potholes in Trump's public-private infrastructure plan 14.6.2017 Small Business | GreenBiz.com
Trickle-down infrastructure isn't the path forward for sustainable development.
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Have a pension and a spouse? Here’s what you need to know about your benefit options. 12.6.2017 Washington Post
Have a pension and a spouse? Here’s what you need to know about your benefit options.
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Invest in a high-quality education for every child from cradle to career 10.6.2017 Seattle Times: Opinion

As legislators make hard choices this session to fulfill their paramount duty to amply fund education, we encourage them to support a cradle-to-career continuum that maximizes our K-12 investment.
Hot Investment Tip: The Health of Poor Children 8.6.2017 American Prospect
AP Photo/Jacqueline Malonson Maria Prince feeds her one-year-old daughter Monica, in her home in Crofton, Maryland. Maria and her huband Barry receive Woman, Infants, and Children (WIC) benefits, one of many programs benefiting children currently at risk under the new Republican budget.  Though our economy is doing better than that of most other advanced economies, the United States still has at least three major economic problems. There’s the macro problem of growth—especially productivity growth—that’s slower than we’d like. There’s the micro problem that any growth we have continues to leave too many people behind. And there’s the political problem that the Trump administration and Republican Congress propose to make these other two problems worse. Each of these problems is easy to document. Productivity growth —a key determinant of overall living standards—averaged almost 3 percent annually between 1995 and 2005. Since then, it’s been growing at less than half that pace, and even slower since 2010. ...
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The push Indian healthcare needs 8.6.2017 Columns – The Indian Express
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Pummeled by Student Debt, Let's Fight for Education as a Public Good 7.6.2017 Truthout - All Articles
Our society allows big businesses to declare bankruptcy to dodge their debts, so why are student loan borrowers considered unforgivable? Higher education should be available to everyone without the looming threat of lifelong debt. (Photo: Cparks ) Forbes recently reported that there are more than 44 million borrowers with a combined $1.3 trillion in student loan debt, and the average student in the Class of 2016 owes $37,172 in student loans. Given the enormity of these figures, we now find more and more talk about "forgiving" student loans. In October, on the heels of Bernie Sanders' vigorous primary campaign to make college tuition-free and debt-free , even Donald Trump opined : "Students should not be asked to pay more on the debt than they can afford … And the debt should not be an albatross around their necks for the rest of their lives." So why is the path to forgiveness so full of obstacles? Why is this specific kind of debt so "unforgivable"? Of course, lending money and repaying loans (with ...
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Lighting as a Service illuminates a path for corporate innovation 7.6.2017 GreenBiz.com
Lumens as a Service (LaaS) can cause building energy efficiency savings of more than $1 trillion. Here is how companies can turn on to the trend.
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A millennial's math on compensation 6.6.2017 GreenBiz.com
The idea that ‘doing good’ in this world won’t earn you money, while earning good money will require professional compromise, remains widely accepted in business. This assumption is nonsense.
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