tagged w/ Wall Street Journal
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By Lindsay Beyerstein, Media Consortium blogger
The 14 Democratic state senators who fled Wisconsin to thwart the passage of a draconian anti-union have no plans to return.
On Sunday night, a Wall Street Journal blog reported that the senators planned to return soon. Steve Benen of the Washington Monthly found it odd that the piece didn’t contain any direct quotes from the exiled Democrats. The claim that the Democrats were planning to return rested on a paraphrase of State Sen. Mike Miller said about the Democrats coming back. Miller says the Journal misconstrued his remarks and that the Dems are only coming back “when collective bargaining is off the table.”
It would be an odd time for Democrats to return. Republican governor Scott Walker has offered them zero concessions. Furthermore, as Benen observes, Walker’s popularity is plummeting. The latest poll by the Wisconsin Research Institute puts the governor’s approval rating at 43%, with 53% disapproving. A majority of respondents had favorable opinions of state Senate Democrats, public employee unions, and teachers’ unions.
Benen writes:
The significance of these polls can’t be overstated — they stiffen Democratic spines, while making Republicans increasingly nervous about standing behind an unpopular governor with an unpopular plan.
In YES! Magazine, Amy B. Dean explains why every American should care about the situation in Wisconsin. The collective bargaining rights of public employees are the central issue in this standoff. Walker is testing a radical new approach to unions and several other Republican governors are poised to follow his model if he succeeds. It is naive to assume that the war on unions will end with the public sector.
Jobs gap
Writing at The Nation, Chris Hayes explains why Washington doesn’t care about jobs. Hayes argues that Washington elites are insulated from the toll of unemployment by class and geography. The jobless rate for workers with college degrees is only 4.2%, which is less than half of the official unemployment rate of 9% and a quarter of the 16.1% underemployment rate. (The underemployment rate counts both the jobless who are still looking for work and those who have given up and left the labor force.) Furthermore, Hayes notes, the unemployment rate in greater Washington, D.C. is only 5.7%, which is lower than that of any other major city in America. He writes:
What these two numbers add up to is a governing elite that is profoundly alienated from the lived experiences of the millions of Americans who are barely surviving the ravages of the Great Recession. As much as the pernicious influence of big money and the plutocrats’ pseudo-obsession with budget deficits, it is this social distance between decision-makers and citizens that explains the almost surreal detachment of the current Washington political conversation from the economic realities working-class, middle-class and poor people face.
Even as the overall unemployment rate falls, economic recovery proves elusive for many workers of color, Shani O. Hilton reports at Colorlines.com. The February jobs report shows that the economy added 192,000 jobs, with overall unemployment falling by a tenth of a percentage point, bringing joblessness to its lowest rate since 2009. However, the unemployment rates for black and Hispanic workers remained fixed in February, at 15.3% and 11.6%, respectively.
Hilton notes that even if the economy were to add 200,000 jobs a month, it would take three years to bring general employment up to pre-recession levels.
Public innovation
The stereotype is that the private sector drives innovation. However, as Monica Potts reports in The American Prospect, industry’s well-deserved reputation for innovation is built on a foundation of publicly funded basic research. Conservatives often argue that the private sector would pick up the slack if public funding for basic research were reduced. Potts argues that public funding for basic research is essential because companies will naturally gravitate towards research that has an immediate payoff, instead of investing in cultivating deeper scientific understanding through basic research.
This post features links to the best independent, progressive reporting about the economy by members of The Media Consortium. It is free to reprint. Visit the Audit for a complete list of articles on economic issues, or follow us on Twitter. And for the best progressive reporting on critical economy, environment, health care and immigration issues, check out The Mulch, The Pulse and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.By Lindsay Beyerstein, Media Consortium blogger
The 14 Democratic state senators... more
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J.P. Morgan Chase, unsurprisingly seeking to make up ground in opposition to competitor Goldman Sachs, promises to begin a fund that could focus on World wide web and digital mass media businesses, based on a study in the Wall Street Journal.
The fund is seeking to raise $500 million dollars to $750 million dollars, in line with the report, which cites “people familiar with the matter.” The actual agency delivered marketing materials to potential investors approximately 2 weeks back, the article declares. (Having access to the full post takes a membership.)
http://www.wealthvest.com/blog/sean-browne/jp-morgan-vs-goldman-sachs-j-p-morgan-creates-750-million-dollar-digital-media-fund/J.P. Morgan Chase, unsurprisingly seeking to make up ground in opposition to... more
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According to a report, production of Apple’s thinner, lighter and camera toting iPad 2 has begun.According to a report, production of Apple’s thinner, lighter and camera toting... more
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New York Governor Andrew Cuomo plans to improve regulation of Wall Street with a smaller state government that would merge the Banking and Insurance departments, Cuomo told a radio station on Tuesday.
http://www.indiareport.com/India-usa-uk-news/reuters/Business/76153New York Governor Andrew Cuomo plans to improve regulation of Wall Street with a... more
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Kelly says that technology isn’t ‘neutral’, it’s ‘good’. Not because it’s solving our problems, but because the choices it offers propel us forward. Lanier doesn’t feel this view resolves our confusion about technologyKelly says that technology isn’t ‘neutral’, it’s... more
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Pundit and perpetually dour Travelocity Gnome Charles Krauthammer informed the world today that Barack Obama really hornswoggled Republicans with his compromise on the Bush tax cuts. A plan so clever that Obama, Democrats, and apparently judging by their reactions, Republicans too, are just too dim to see. Yup Chuck, that wiley old Kenyan socialist has 'em right where he wants 'em now!Pundit and perpetually dour Travelocity Gnome Charles Krauthammer informed the world... more
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Rand Paul tells Spitzer and Parker "I was misquoted by the Wall Street Journal".
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Apparently, Apple is going to start mass producing a CDMA version of the iPhone at the end of this year with a launch on Verizon sometime in early 2011. Oh, and Apple is also working on the iPhone 5G.Apparently, Apple is going to start mass producing a CDMA version of the iPhone at the... more
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It is being widely reported that Apple is working on plans to sell newspaper subscriptions on its iPad tablet. It is being reported that Apple is in aggressive talks with many news papers over the E-news stand project. Yesterday ...
http://bit.ly/aUPxiXIt is being widely reported that Apple is working on plans to sell newspaper... more
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The Samsung Galaxy Tab has been confirmed to be heading to AT&T and it will be shipping sometime before September. Froyo on AT&T? Who is excited?The Samsung Galaxy Tab has been confirmed to be heading to AT&T and it will be... more
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Sources are telling the Wall Street Journal that the upcoming Samsung Galaxy Tab will hit not only Verizon and Sprint, but AT&T as well. Any takers?Sources are telling the Wall Street Journal that the upcoming Samsung Galaxy Tab will... more
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David Koch, billionaire backer of the Tea Party movement, says he's never been to a Tea Party event. So, what do you call the conference full of Tea Partiers he just convened?
August 29, 2010|WASHINGTON, D.C. -- In a darkened hotel ballroom, on the eve of Glenn Beck's burlesque of self-righteousness at the Lincoln Memorial, some 2,500 activists listened politely to the tall, impeccably dressed elder at the podium as he stumbled through his introduction of the evening's guest of honor, the conservative columnist George Will. The speaker was introduced simply as chairman of the board of the Americans For Prosperity Foundation, the organization that sponsored the event.
Few among the rank-and-file recognized the billionaire David Koch -- heir to the fortunes of Koch Industries -- or knew him as the man who bankrolls their activism, whose largess subsidized many of their trips to the nation's capital to take part in AFPF's organizing conference, and the Beck rally the following day.
Beck, you'll recall, is in the employ of the billionaire Rupert Murdoch, whose News Corporation (the parent company of Fox News and the Wall Street Journal) has been in cahoots, as AlterNet reported(http://www.alternet.org/news/142068/utilizing_public_airwaves,_media_mogul_murdoch_is_big_muscle_behind_fraudulent_astro_turfers/), with Kochs' AFPF since the inception of the Tea Party movement. Koch's halting public speaking style befits his usual reluctance in recent years to interact with the public. He prefers to be known as the philanthropic presence behind the great institutions of New York: the Metropolitan Museum of Art, the American Museum of Natural History and the New York City Ballet. Indeed, he made his entrance to the stage at the AFPF banquet to the strains of "New York, New York," which seemed a bit out of place in a room filled with the sounds of Southern drawls and Midwestern twangs.
But over the course of the past year, Koch has earned a new reputation, one he's not keen to have: the Daddy Warbucks of the Tea Party movement.
As AlterNet first reported last year, the two main astroturf groups responsible for organizing Tea Party supporters into a national movement were both founded by Koch: Americans For Prosperity, presided over by Tim Phillips, the former business partner of Ralph Reed; and FreedomWorks, which is chaired by former House Majority Leader Dick Armey.
Both FreedomWorks and Americans For Prosperity have their roots in a now-defunct Koch-funded group, Citizens for a Sound Economy. While Koch is actively involved in Americans For Prosperity, his spokesperson claims no current relationship with FreedomWorks, or, incredibly, with the Tea Party movement.
Last spring, on the eve of the April 15 Tax Day Tea Party protests, Koch Industries spokesperson Melissa Cohlmia sent an unsolicited statement(http://tpmmuckraker.talkingpointsmemo.com/2010/04/right-wing_backers_koch_industries_we_dont_specifi.php#more) to reporters and bloggers, asserting that "Koch companies, the Koch foundations, Charles Koch and David Koch have no ties to and have never given money to FreedomWorks. In addition, no funding has been provided by Koch companies, the Koch foundations, Charles Koch or David Koch specifically to support the tea parties. Thanks for your consideration."
“I’ve never been to a Tea Party event," David Koch told New York magazine's Andrew Goldman(http://nymag.com/news/features/67285/) earlier this year. "No one representing the Tea Party has ever even approached me."David Koch, billionaire backer of the Tea Party movement, says he's never been to... more
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On Monday, the Wall Street Journal ran an editorial by Dr. Aneel Karnani called The Case Against Corporate Social Responsibility which posits the idea that corporate responsibility is irrelevant because “companies that simply to everything they can to boost profits will end up increasing social welfare”.
On the one hand, I want to thank Dr. Karnani because nothing makes me happier than more discussion about this important topic – especially in a globally important business publication like the Wall Street Journal. On the other hand, Dr. Karnani’s point of view is too simplistic and feels like Milton Freidman redux. I recommend reading the piece and also having a look at some of the more than 240 comments that readers have posted so far – most of which are opposed to Dr. Karnani’s position. Here’s what came to my mind when I read the editorial:
First, I believe that corporations fall into three categories with respect to corporate social responsibility:
1. Corporations that directly benefit society while acting in their own interests. Dr. Karnani provides examples such as auto makers that profit by making more fuel efficient vehicles and fast-food outlets that have improved their menus to be more nutritious. For me this really is a sweet-spot where the business goals and social outcomes are in sync and everybody wins.
2. Corporations that harm society while acting in their own interests. Here’s where Karanai’s argument just doesn’t hold up. There are all too many examples of businesses who directly and indirectly are actually having a negative social impact for the sole purpose of making a profit for their shareholders. Do tobacco companies benefit society by acting in their own interests. This is also an area where the government needs to play a stronger role.
3. Corporations that indirectly benefit society while acting in their own interests. The majority of corporations fall into this category. Their products and services don’t address social issues (e.g. homelessness, the environment, etc.) but do provide solutions to essential human needs such as communication, power, food, and so on. These are companies that have a social purpose and who should be operating in as responsible and sustainable a way as is appropriate for their type of business.
http://3blmedia.com/theCSRfeed/Case-Corporate-Social-Responsability#On Monday, the Wall Street Journal ran an editorial by Dr. Aneel Karnani called The... more
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The Hindenburg Omen, a technical indicator which uses a plethora of data to foreshadow a stock-market crash, was tripped again on Friday, marking the second time since Aug. 12 it has occurred. (It also came close on Thursday, but one of its criteria fell short.)
The latest trigger has prompted the Omen’s creator, Jim Miekka, to exit the market. “I’m taking it seriously and I’m fully out of the market now,” Miekka, a blind mathematician, said in a telephone interview from his home in Surry, Maine.
“I would’ve probably stayed in until the beginning of September,” depending on how the indicators varied. “That was my basic plan, until the Hindenburg came along.”
http://morichesdaily.com/2010/08/hindenburg-omen-creator-exited-stock-market/The Hindenburg Omen, a technical indicator which uses a plethora of data to foreshadow... more
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The secret $100 Million Raytheon developed clandestine surveillance program for the NSA watches big companies and keeps tem safe from digital attacks, according to the Wall Street Journal.The secret $100 Million Raytheon developed clandestine surveillance program for the... more
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Ever since President Obama nominated Elena Kagan for Supreme Court Justice, her sexuality has come under question. This week, Bryan Safi salutes the "Wall Street Journal" for its particularly lazy interpretation of the issue.
That's Gay is a recurring segment on the weekly television show infoMania. In each episode of That's Gay, Bryan Safi explores gay issues and stereotypes as they are portrayed by the clueless media. For more Bryan visit http://current.com/groups/thats-gay/ and Current TV.
infoMania is a half-hour satirical news show that airs on Current TV. The show puts a comedic spin on the 24-hour chaos and information overload brought about by the constant bombardment of the media. Hosted by Conor Knighton and co-starring Brett Erlich, Erin Gibson, Ben Hoffman, Bryan Safi and Sergio Cilli, the show airs on Thursdays at 10 pm Eastern and Pacific Times and can be found online at http://current.com/infomania/ or on Current TV. And make sure to check out our facebook profile for special features at http://facebook.com/infomania.Ever since President Obama nominated Elena Kagan for Supreme Court Justice, her... more
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WASHINGTON—
Leaders from 47 countries are descending on Washington for a two-day summit the Obama administration hopes will kick-start efforts to make all nuclear materials secure from smugglers and terrorists within four years.
The conference, which officially begins Monday evening, is the third act in a monthlong effort by the White House to give momentum to nuclear disarmament, following a new nuclear military doctrine released by the Pentagon on Tuesday and an arms-control treaty with Russia signed on Thursday.
But a series of high-profile foreign-policy challenges could overshadow the administration's nonproliferation efforts here next week. At least two of those involve China, whose president, Hu Jintao, will hold talks with President Barack Obama just before the summit starts.
China, Iran's largest market for oil, has resisted supporting stiff new sanctions against Iran over its nuclear program. Beijing has also resisted pressure to revalue its currency, a move that Washington says would make U.S. exports more competitive.
Meanwhile, the decision by Israeli Prime Minister Benjamin Netanyahu to withdraw from the summit at the last minute, in order to avoid questions about his country's undeclared nuclear arsenal, has caused ripples before the summit has begun.
Senior administration officials said they are working to keep the summit narrowly focused on nuclear security, saying they expect several countries to announce moves similar to that of Chile, which last month began shipping its highly enriched uranium to the U.S. for safekeeping.
"You can be sure that the president will devote 100% of his time to this summit and to guiding it and keeping it on track, on theme, on message," said U.S. National Security Adviser James Jones.
Senior administration officials acknowledged that discussions on the formal sidelines of the summit are likely to stray from the agenda, particularly in formal bilateral meetings Mr. Obama is holding with other leaders.
More-
http://online.wsj.com/article/SB10001424052702304703104575174180505414718.html?mod=WSJ_hpp_sections_worldWASHINGTON—
Leaders from 47 countries are descending on Washington for a... more
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