tagged w/ Corporate Greed
-
A debt created through illegal means , is no debt at all !
-
-
-
SAN FRANCISCO -- Wells Fargo & Co. was bracing for revolts at its annual shareholder meeting as well as in the streets outside, as demonstrators from around the country poured into town to complain about its lofty executive pay, alleged disregard for troubled homeowners and a host of other issues.
Organizers said they expected 2,000 to 3,000 protesters to march through the streets early Tuesday to the the Wells meeting at the downtown Merchants Exchange Building, a landmark that survived the great earthquake and fires that devastated San Francisco in 1906.
A coalition of community, labor and religious activists calling itself "99% Power" had demanded that Wells Chief Executive John Stumpf grant them an hour at the meeting to air grievances. The request denied, they said they would try to block shareholders of the giant San Francisco company from entering the building.
Angus Maguire of a group called “We Are Oregon” said the protesters are united by the belief that big banks created a financial catastrophe and “the political system is not doing anything to address the real problems.”
“It’s a slap on the wrist for bankers, who get to start pocketing their big bonuses again,” Maguire said. “Meanwhile, the rest of us are still struggling with unemployment and foreclosures.”
A Facebook page for the event listed nearly 400 attendees early Tuesday.
In a curtain-raiser of sorts Monday, 10 protesters from the coalition were arrested in Iowa on trespassing charges after blocking the entrance to Wells Fargo Home Mortgage, which is based in Des Moines. Wells is by far the biggest U.S. home lender and the fourth-biggest bank as measured by assets.
Wells Fargo spokesman Ancel Martinez said the bank would not yield the floor outright to the protesters. He said, though, that Stumpf expected harsh questioning during a Q&A lasting at least an hour from activists who had purchased stock in the bank, entitling them to attend the meeting.
“We’ll have adequate security to ensure the meeting goes smoothly,” Martinez said, adding that Wells Fargo supports the right to peaceful protests.
Stump and his top aides faced several shareholder measures challenging the bank's governance, including a "say on pay" vote like the one in which Citigroup Inc. shareholders last week turned thumbs down on CEO Vikram Pandit's $14-million pay package.
The say on pay votes, required at least every three years by laws passed after the financial crisis, are not binding. But a negative vote can make it appear that corporate directors are disregarding the concerns of the company's owners if they do nothing to address complaints.
Stumpf's compensation totaled $19.8 million last year, and his three-year total tops $60 million, mostly in stock awards.
Comparisons to New York's Citigroup beyond high compensation are more difficult. Citi nearly melted down during the financial crisis, needed two rounds of government bailout funds, and has seen its stock languish at less than 10% of its pre-crisis high.
Wells Fargo, by contrast, weathered the crisis in far better shape and has recovered more than 90% of its pre-crisis share price. With profit back at near-record levels, Wells has been rewarded with the largest stock market value of any U.S. bank, $175 billion versus $97 billion for Citigroup.
http://www.latimes.com/business/money/fi-mo-wells-fargo-protest-20120423,0,4763561.storySAN FRANCISCO -- Wells Fargo & Co. was bracing for revolts at its annual... more
-
-
Occupy Wall Street to target shareholder meetings
Judge: DA Can Subpoena Occupy Protester Tweets
Oakland chief promises protest reforms
76 arrested in Capitol protest over Medicaid cutsOccupy Wall Street to target shareholder meetings
Judge: DA Can Subpoena Occupy... more
-
-
This by no means the only evil crap thing that MAO-mart does (wal mart to those of you who patronize this demon corporation)
Wal-Mart is Mexico's largest private-sector employer in the nation today, with nearly 150,000 local residents on its payroll. An additional 19,000 youngsters between the ages of 14 and 16 work after school in hundreds of Wal-Mart stores, mostly as grocery baggers, throughout Mexico—and none of them receives a red cent in wages or fringe benefits. The company doesn't try to conceal this practice: its 62 Superama supermarkets display blue signs with white letters that tell shoppers: OUR VOLUNTEER PACKERS COLLECT NO SALARY, ONLY THE GRATUITY THAT YOU GIVE THEM. SUPERAMA THANKS YOU FOR YOUR UNDERSTANDING. The use of unsalaried youths is legal in Mexico because the kids are said to be "volunteering" their services to Wal-Mart and are therefore not subject to the requirements and regulations that would otherwise apply under the country's labor laws. But some officials south of the U.S. border nonetheless view the practice as regrettable, if not downright exploitative.
Full article at link. MAO-mart is the devil don't freekin shop there EVER.
http://www.thedailybeast.com/newsweek/2007/07/30/teens-at-work.htmlThis by no means the only evil crap thing that MAO-mart does (wal mart to those of you... more
-
-
Its about time. But then again, maybe they'll let him have just a mere 10 million instead.Its about time. But then again, maybe they'll let him have just a mere 10 million... more
-
-
"Ha!!! I thought this was Cool as Hell and a Must Share!!! Kinda brought a Smile to my Face, I hope it does for you too..." =)
http://www.democraticunderground.com/101721725"Ha!!! I thought this was Cool as Hell and a Must Share!!! Kinda brought a Smile... more
-
-
KB723
-
added this
-
1 month ago
- |
-
Wall Street “Bottom Feeders” investing in violence, injury and death. Hey! You want to be with the 1%ers? Go to this sick website. .smallcapnetwork.com and invest. Or if you are a real “Human Being” and are fed up with merchants of death, profiting from state sponsored violence. Go to this website .smallcapnetwork.com and comment. Tell them the 99ers will be coming. Not with violence but to shame and expose them for their complicity in crimes against Humanity. (Just a suggestion)Wall Street “Bottom Feeders” investing in violence, injury and death. Hey!... more
-
-
-
-
KB723
-
added this
-
1 month ago
- |
-
Harper’s Magazine has posted online a number of videos purportedly showing Blackwater guards in action in Iraq. One video dated April 1, 2006, shows an armored vehicle swerving to run over a woman in a black full-length burka as she attempted to cross the street. None of the vehicles in the armed convoy stopped after she was run over. Other videos show armed vehicles smashing into cars driven by Iraqi civilians in an order to move them out of the way. Harper’s reports that the Blackwater tape ended with the inscription: "In support of security, peace, freedom and democracy everywhere.”
Our tax dollars were hard at work winning the hearts and minds of Iraqis that day.Harper’s Magazine has posted online a number of videos purportedly showing... more
-
-
Looks like Apple Corp. is fixing what they recently lied about as being totally untrue--AMAZING!Looks like Apple Corp. is fixing what they recently lied about as being totally... more
-
-
Yup, here it is...in all its glory.
-
-
It’s a country that extols the virtues of liberty like no other.
But since September, some 6,700 Americans protesting against economic inequality and corporate greed have been arrested and silenced.
A police offensive aimed at crushing Occupy Wall Street has succeeded in shattering America’s globally-marketed brand of freedom.It’s a country that extols the virtues of liberty like no other.
But since... more
-
-
So if something like this were to become law, they will have gained nothing. Local governments, already strapped for cash won't pay to have books read to children.They will just stop reading to children. Who gains?
http://bit.ly/AbPcXaSo if something like this were to become law, they will have gained nothing. Local... more
-
-
General Electric (GE) records show that it pays far, far less in taxes than us ordinary taxpayers. So much for the claim that corporate taxes are too high.
GE’s Securities and Exchange Commission 10-K filing for 2011 reveals that the company paid at most 2.3 percent of its $81.2 billion in U.S. pretax profits in federal income taxes during the past the past 10 years.
Last year when it was revealed that GE paid no federal income taxes in 2010 and in fact enjoyed $3 billion in net tax benefits, a company spokesman said:
GE did not pay U.S. federal taxes last year because we did not owe any... [but] our 2011 tax rate is slated to return to more normal levels with GE Capital’s recovery.
An examination of its 10-K filing shows that in 2011, GE’s effective federal income tax rate was only 11.3 percent, less than a third the official 35 percent corporate tax rate, according to Citizens for Tax Justice (CTJ). Says CTJ Director Bob McIntyre:
I don’t think most Americans would consider 11.3 percent, not to mention GE’s long-term effective rate of 2.3 percent, to be "normal." But for GE, taxes are something to be avoided rather than paid.
Read more from CTJ here.
GE is one of 280 profitable Fortune 500 companies profiled in “Corporate Taxpayers and Corporate Tax Dodgers, 2008-2010.” The report shows GE is one of 30 major U.S. corporations that paid zero—or less—in federal income taxes in the past three years. The full report, a joint project of CTJ and Institute on Taxation and Economic Policy (ITEP) is at http://ctj.org/corporatetaxdodgers/.
http://www.aflcio.org/Blog/Corporate-Greed/Report-Brings-GE-s-2.3-Tax-Bite-to-Light
http://ctj.org/taxjusticedigest/archive/2012/02/press_release_general_electric.phpGeneral Electric (GE) records show that it pays far, far less in taxes than us... more
-
-
kvb1
-
added this
-
3 months ago
- |
-
Obama’s rails against corporate welfare for big oil in his weekly address, saying every year $4 billion of your tax dollars goes to the oil industry.
Another example of why the US really isn’t a capitalist nation – we privatize profits while we socialize losses and subsidies.
http://youtu.be/XF4fVpIwMNAObama’s rails against corporate welfare for big oil in his weekly address,... more
-
-
http://act.aflcio.org/salsa/track.jsp?v=2&c=IhMdgl7OQJMVRlQywEAjxTseQD5IT0gS
In 2008, when Cooper Tire & Rubber Company was losing money, workers at its Findlay, Ohio plant gave up $31 million in pay and benefits to help the company stay afloat.
Thanks to the workers' sacrifices and productivity, Cooper has made more than $300 million in profits since 2009. Cooper paid its executives millions of dollars in bonuses and bought a new corporate jet. What did its employees get? Locked out on Thanksgiving weekend.
Despite soaring profits, Cooper pushed a new contract on its employees with higher healthcare premiums and undisclosed wage terms. Do you think CEOs would accept a contract if they didn't know if they were getting a raise or a pay cut? Not a chance.
Still, Cooper's employees were more than willing to keep working through negotiations to reach a fair deal after their contract expired last fall. But Cooper refused to budge—leaving 1,050 workers out in the cold since November 28.
The workers in Findlay, Ohio are counting on you! Email Cooper Tire NOW! http://act.aflcio.org/salsa/track.jsp?v=2&c=IhMdgl7OQJMVRlQywEAjxTseQD5IT0gS
Cooper can easily afford to set things straight and still turn a profit. Cooper CEO Roy Armes received $4.7 million in compensation in 2010.3 And the company has purchased a plant in Serbia for $17.3 million!4
Cooper wants to cry broke, but greed—not need—is driving this lockout. As Chico Ramirez, who's logged 25 years with the company, explains, "The thing that bothers us is that we gave them concessions to help them get back on their feet, and they are paying out bonuses instead of paying back the backbone of the company."
Around the country, people are fighting back against corporate greed and standing up for the 99%. Will you stand up and fight for Cooper's workers too?
Tell Cooper Tire that its bullying and greed must end now. http://act.aflcio.org/salsa/track.jsp?v=2&c=IhMdgl7OQJMVRlQywEAjxTseQD5IT0gS
Thanks for all that you do for workers everywhere.
In solidarity,
Manny Herrmann
AFL-CIO Working Families e-Activist Network
1. http://www.toledoblade.com/local/2012/01/02/U-S-senator-drops-in-to-cheer-up-locked-out-Findlay-tire-workers.html
2. http://online.wsj.com/article/SB10001424052970204319004577084441182793280.html
3. http://people.forbes.com/profile/roy-v-armes/22977
4. http://www.toledoblade.com/local/2012/01/19/Cooper-closes-on-deal-to-buy-Serbia-tire-plant.htmlhttp://act.aflcio.org/salsa/track.jsp?v=2&c=IhMdgl7OQJMVRlQywEAjxTseQD5IT0gS
In... more
-
-
kvb1
-
added this
-
3 months ago
- |
-
Good short article on the possibility of another stupid damn war in the Middle East. Follow the link for "...a nationwide day of action on Saturday 11 February..."Good short article on the possibility of another stupid damn war in the Middle East.... more
-
-
"Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That’s the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008."
So not only is Mittens paying less in taxes than those struggling to survive, but corporations are paying even less. When trillions of dollars in profits are made every year by corporations, you would think that they would be paying a fair rate. The myth is that we have the highest corporate tax rate in the world. The true is that we have the largest set of loop holes that allow our corporations to pay one of the lowest tax rates in the industrial world.
http://thinkprogress.org/economy/2012/02/03/418171/corporate-taxes-40-year-low/?mobile=nc"Total corporate federal taxes paid fell to 12.1% of profits earned from... more
-
-
kvb1
-
added this
-
4 months ago
- |
-
Apple the leader in innovation, technology, and the creation of Chinese sweat shops..
“We’ve known about labor abuses in some factories for four years, and they’re still going on,” said one former Apple executive who, like others, spoke on the condition of anonymity because of confidentiality agreements. “Why? Because the system works for us. Suppliers would change everything tomorrow if Apple told them they didn’t have another choice.”Apple the leader in innovation, technology, and the creation of Chinese sweat shops..... more
-
