Honeywell CEO: Debt Biggest Drag on US Jobs

If CEO, David M. Cote, of Honeywell—a $38 billion Fortune 100 company— really thinks that the economic problems are due to government debt and the failure of the confidence fairy to appear, he could do the patriotic thing and give back the 15% of his company’s revenue that comes from the federal government.

And the journalist could share this fact with viewers.

Commentary reworked from the original post by Atrios on Eschatonblog.

Monopoly power in action

90 Percent of Corn Seeds Are Coated With Bayer’s Bee-Decimating Pesticide

90 Percent of Corn Seeds Are Coated With Bayers Bee-Decimating Pesticide | Mother Jones.

Privatisation’s Worse Case Scenario

“Under the $563 million, 99-year deal that privatized four city-owned parking garages in downtown Chicago, City Hall made a promise” to ensure that the parking garages would not be subject to any competition. Where are the free marketists now?

via Chicago faces $200 million claim over privatized parking garage – Chicago Sun-Times.

“Too Crooked to Fail”: Matt Taibbi Says Bailouts, Fraud are the Secrets to Bank of America’s Success

In his new article, “Bank of America: Too Crooked to Fail,” Rolling Stone reporter Matt Taibbi chronicles the remarkable history of the rise of Bank of America — an institution he says has defrauded “everyone from investors and insurers to homeowners and the unemployed.” Taibbi describes how the Bush and Obama administrations have repeatedly propped up the financial institution, which received a $45 billion taxpayer bailout in 2008. Bank of America has also received billions in what could be described as shadow bailouts. The bank now owns more than 12 percent of the nation’s bank deposits and 17 percent of all home mortgages. Taibbi also recounts how fraudulent practices by Bank of America and other companies ravaged pension funds. “Most people think of [the mortgage crisis] as some airy abstraction — you know, bankers ripping off bankers,” Taibbi says. “That’s not what it is. It’s bankers stealing from old ladies and retirees.”

via “Too Crooked to Fail”: Matt Taibbi Says Bailouts, Fraud are the Secrets to Bank of America’s Success.

The worst-paying cities for women

While it’s been nearly a century since women across the country won the right to vote and the right to work alongside men, equal pay continues to remain a distant goal.

via Bottom Line – The worst-paying cities for women.

Jobs Returning Slowly as Wages Lag

The pressure on wages has multiple causes. None of the main factors seems poised to change for the better. Advanced information technologies have slashed the ranks of many careers, such as travel agents. Competition from emerging markets has sliced away jobs on the factory floor and customer-service phone banks. Union membership has plunged, from some 35 percent of private sector workers in the early 1950s to 6.9 percent in 2010.

via Jobs Returning Slowly—as Wages Lag – Businessweek.

Eliminating Minimum Wages as a Jobs Plan?

Fox News said Cain’s opportunity zone plan risks angering unions because it would enact policies they consider bad policy, such as the elimination of the U.S. minimum wage.

Eliminating unemployment is a necessary yet not sufficient solution. We need living wages.  At issue here is not whether eliminating minimum wages would diminish joblessness (increase employment); rather it is to question living standards. Implementing a policy as this would create a larger poverty class. Even currently employed workers in affected areas would suffer as they would now be competing in a race to the bottom.

via Cain to scrap minimum wage in poor areas? – politics – Decision 2012 – msnbc.com.

Yes, Johnny Depp will take those millions, thanks

“Basically, if they’re going to pay me the stupid money right now, I’m going to take it,” the 48-year-old star told Vanity Fair in the magazines November issue. “I have to.”

via Yes, Johnny Depp will take those millions, thanks – The Marquee Blog – CNN.com Blogs.

The US is the Most Overworked Nation in the World

Using data by the U.S. BLS, the average productivity per American worker has increased 400% since 1950. One way to look at that is that it should only take one-quarter the work hours, or 11 hours per week, to afford the same standard of living as a worker in 1950 or our standard of living should be 4 times higher. Is that the case? Obviously not. Someone is profiting, it’s just not the average American worker.

via The U.S. is the Most Overworked Nation in the World.

Americans Favour Taxing Rich

Americans generally favor raising taxes on higher-income Americans and eliminating tax deductions for some corporations as ways of paying for President Obama’s proposed jobs plan.

via Americans Favor Jobs Plan Proposals, Including Taxing Rich.