FDL Book Salon Welcomes Eileen Appelbaum and Rosemary Batt, Private Equity at Work: When Wall Street Manages Main Street

By: Sunday September 14, 2014 1:59 pm

Welcome Eileen Appelbaum (CEPR), Rosemary Batt (Cornell University) and Host David Dayen (David’s webpage) (Twitter) Private Equity at Work: When Wall Street Manages Main Street A couple weeks ago, Burger King announced a merger with the Canadian coffee-and-donuts chain Tim Hortons. Well, not actually Burger King, but 3G Capital, the private equity firm that owns [...]


Defense Contractors Plan to Go Forward With Layoff Notices

By: Friday August 10, 2012 10:40 am

It looks like several defense contractors will side with high-profile Republicans and ignore the Department of Labor guidance, and send out layoff notices to thousands of their employees four days before the election. At least two contractors will press ahead.

CEOs Push Back Against Misinformation on CNBC

By: Saturday April 28, 2012 9:50 am

Larry Kudlow, fond of pushing his conservative talking points, ran into a couple of CEOs unwilling to go along. “Why aren’t businesses investing?” he asked. Was it because of uncertainty? Over-regulation? Obamacare?

No, said John Faraci and Don Peebles. The problem is demand. First and above all else, companies need customers.

It’s good to see some pushback like this at CNBC. Unless, of course, you’re Larry Kudlow.

FDL Membership Drive Kicks Off as #OccupySupply Sends Lt. Dan Choi to New Occupy Atlanta AT&T Encampment

By: Monday February 27, 2012 10:45 am

Lt. Dan Choi is on his way to Occupy Atlanta’s new encampment in front of AT&T headquarters right now. He’ll be in Atlanta for the next 3 days to celebrate the tent that Atlanta won for their outstanding local activism from Occupy Supply. Today also kicks off our FDL Membership drive. The annual contributions of our members pays for the salaries and benefits of our employees who do the organizational work, and that’s how we were able to use 100% of the money we raise through Occupy Supply to get supplies to occupiers who needed them.

Late Night FDL: The Dude Abides While the Clueless Abound

By: Saturday January 21, 2012 8:00 pm

Today’s banksters are direct spiritual descendants of the mentality that gave us the Great Depression.

Looting, Layoffs, and the Legacy of Bain

By: Saturday January 7, 2012 9:00 am

Mitt Romney has a big problem ahead, as he is faced with headlines that feature words like bankruptcy and layoffs. The Bain business model, as Paul Krugman noted, enriched Romney and his cronies at Bain at the expense of ordinary workers at the companies they bought.

Reuters paints this picture vividly, as they tell the story of a Kansas City steel mill that Bain purchased, looted, and led into bankruptcy. Even more devastating is the reaction of at least one conservative former Armco worker, who is featured in a new anti-Romney ad put together by Moveon.org. “They [Bain] walked out of here with millions. They left us with nothing.”

Way to reach out to the conservative base, Mitt.

Zero Job Growth Is No Surprise to Parents

By: Friday September 2, 2011 4:14 pm

The Markets and the Financial Media were stunned by the August Jobs report, which said there were no net jobs created in August. Whatever gains there have been in certain sectors of private industry, every parent in the country with school-age kids can tell you how a sizable chunk of those gains were erased.

Cuts to school budgets.

Serious business leaders know that poor schools today means less qualified workers tomorrow. Local chambers of commerce get it, but if you expect the US Chamber of Commerce to come out in favor of more actual spending for school districts . . . well, I’ve got an abandoned school building to sell you.

Bank of America Death Watch – Mass Layoffs Imminent

By: Friday August 19, 2011 6:49 am

The warning signs for Bank of America are all there. The liabilities are rising. The lawsuits keep coming in. The Knights of Columbus actually expanded their challenge to the large settlement on mortgage backed securities, another signal that the get-out-of-jail free card that BofA sought is not forthcoming. They’ve desperately tried to cut operating costs without resorting to raise capital, which would be given away cheaply because of the stock price. They started selling various units, a Canadian credit card company, some commercial real estate properties, everything non-core that wasn’t nailed down. And now, they plan to cut labor costs.

Ripples of Budget Cuts

By: Sunday June 19, 2011 4:00 pm

Over a lifetime of watching the political dances and games, there are a few things that can always be counted upon. The deficit hawks invariably claim that they are really, really, really only interested in “cutting out the fat honest.” Except that public sector budgets have been slashed so many times over these last few years, the politicians are not only slicing meat and bone, they are carving up the gourmet cuts, all in the name of some nebulous “greater good” and “sacrifices must be made by the courageous.”

Private Prison Shortchanges Staff

By: Monday June 13, 2011 9:45 am

Management and Training Corporation (MTC) runs an ICE detention center in town, which recently had to lay off 120 employees because it could not secure the contracts it had intended on getting, meaning they would have less prisoners than anticipated. But what’s even worse is that MTC for years had not been paying these employees their required wages. They were being paid $8-9 an hour (basically minimum wage, to supervise criminals) for nearly 5 years, during which time they were supposed to have been paid at least $14.50 per hour.

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