Local Media, Like the MSM Dictated by the 1%, Update on Sirota’s Pando Report

By: Saturday February 15, 2014 12:15 pm

Conan has done a half a dozen of these “Continuity of Media” bits. This is another demonstration of that 1% media control at your local news station. Heck, David Koch sits on the board of PBS, with his other billionaire buddies. That Conan can, with such ease, lay bare the fact that someone, somewhere is scripting local stations right down to the Valentine’s Day silly stuff. That would be the same cabal that put Koch the board of PBS and has financed the PBS hit piece on public pensions.

Former Enron Trader Funding PBS Series On Pensions

By: Wednesday February 12, 2014 12:55 pm

This is even worse than having PBS be yet another outlet for Neoliberal talking points. This program deceitfully presents a reactionary political agenda as fair and objective. PBS it is acting as a propaganda outlet while posing as a media group working for the public interest.

Careless: How Governor Brown Is Harming California’s Seniors and Disabled — and the People Who Care for Them

By: Wednesday January 22, 2014 7:10 pm

Andrea Vidales makes $9 an hour taking care of a blind Korean War veteran and an elderly couple in their Merced County homes. Under California’s In-Home Supportive Services (IHSS) program, she spends about 60 hours every week bathing her clients, preparing their meals, cleaning house, paying their bills, driving them to doctors and dealing with other aspects of their medical care. She was delighted, then, when the Obama administration, through the U.S. Department of Labor, announced new regulations last September requiring in-home caregivers to be paid overtime for working more than 40 hours a week.

After Record Year Boeing Forces Workers to Kill Pensions

By: Thursday January 9, 2014 12:17 pm

Boeing delivered a record number of jetliners in 2013. The large amount of orders is likely to keep Boeing as the number 1 airline manufacturer, outpacing its longtime European rival Airbus though both firms are said to be in a boom time as air travel to Asia and Latin America picks up.

Selling Priceless Art Won’t Save Detroit

By: Friday December 13, 2013 4:31 pm

On December 3rd Judge Steven Rhodes ruled that the City of Detroit is eligible to enter Chapter 9 bankruptcy, the largest municipal bankruptcy in American history. Detroit’s bankruptcy was driven mostly by a severe reduction in revenues. The city’s population has declined dramatically, dating back to the 1967 riots, and the city is plagued by long-term unemployment, causing Detroit’s property and income tax revenues to drop precipitously. There are not even enough taxpayer citizens living in the city to fund necessary city services.

The Truth About California’s Pension Slashers

By: Thursday November 28, 2013 4:30 pm

In 2011, the UC Berkeley Center for Labor and Research and Education put out a study that should have sparked mass rallies up and down the Golden State. The report found that nearly half of California workers will retire in or near poverty. In other words, a state once synonymous with the American Dream of economic opportunity and security is on a path to become a purgatory for millions of seniors.

It’s hard to square this alarming fact with the revelation last month that a group of mostly ultra-conservative electeds and activists will try to place a statewide measure on the 2014 ballot that would slash the pensions of government workers.

Unfunded Pension Liabilities Are $1 Trillion, Not $3.8 Trillion: Never Take Anything in a Washington Post Editorial at Face Value

By: Saturday July 20, 2013 1:00 pm

Sorry folks, I committed the cardinal sin of accepting an assertion from a Washington Post editorial without carefully checking it myself. This morning the Post’s lead editorial used the occasion of Detroit’s bankruptcy to beat up on public sector pensions.

Pension Panic Fueled by Anti-Worker Politics?

By: Sunday January 27, 2013 7:00 pm

It’s a common refrain in local papers: State faces pension funding crisis! Retiree benefits out of control! Public pensions bog down taxpayers! Pension costs seem to loom over so many state and local budget battles like a sinister sword of Damocles, a dark reminder of Big Government’s tyrannical profligacy.

Should we panic?

Social Security a Far Better Deal for Workers Than Modern Retirement Plans

By: Wednesday October 24, 2012 11:06 am

This brief set of calculations from the Wall Street Journal’s Ellen Schultz shows simply how much of a raw deal American workers have been getting from defined-contribution retirement plans. It is impossible for them to generate the rate of return of a defined benefit plan, just completely impossible. Schultz shows this in the context of Social Security

Romney Profited From Auto Bailout

By: Thursday October 18, 2012 9:00 am

The way in which the hedge fund syndicate secured these taxpayers dollars for Delphi sounds pretty much like blackmail. For example, according to Steven Rattner, the auto czar, Delphi demanded an immediate cash infusion of $350 million or they would stop supplying to GM. Oh, and Delphi promptly fired all the unionized workers at Delphi, cut health care for all their nonunion pensioners, and took the production jobs to China. Delphi employs less then 5,000 US workers, from a high of 25,000.

How do the Romneys figure into this? They have at least $1 million invested in Paul Singer’s Elliott Management, per their 2011 and 2012 financial disclosure. Based on that investment, they made at least $15.3 million on the deal, which involved ripping off the US taxpayer, shedding US jobs in favor of China, and using leverage created by the auto bailout to do it. Most of these profits have been kept offshore to avoid US taxes, of course. The Romneys protest that these investments are all held in a blind trust, but the executor of their blind trust is Romney’s personal lawyer.

Just another day in the life of a vulture capitalist, I guess.

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