What happens when vulture capitalism ruins a great American company?
The vultures blame the workers.
The vultures blame the union.
And vapid media outlets report the lie as “news.”
That’s what’s happening with the meltdown of Hostess Brands Inc.
Americans are being told that they won’t get their Twinkies, Ding Dongs and Ho Hos because the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union ran the company into the ground.
But the union and the 5,600 Hostess workers represented by the union did not create the crisis that led the company’s incompetent managers to announce plans to shutter it.
The BCTGM workers did not ask for more pay.
The BCTGM workers did not ask for more benefits.
The BCTGM workers did not ask for better pensions.
The union and its members had a long history of working with the company to try to keep it viable. They had made…
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The Erstwhile Conservative: A Blog of Repentance
An article published last month on Remapping Debate points out what may become a trend among American employers:
Beginning next month, Sears and Darden — the latter of which owns several restaurant chains, including Olive Garden and Red Lobster — will cease to offer defined benefits in which the employer, as part of its compensation package, provides employees with a set of health insurance benefits and continues to offer those benefits even when the employer’s costs for insurance rises. Instead, they will implement a defined contribution model, in which the companies will offer employees a fixed annual sum — like a voucher — that they can use to buy insurance for themselves and their families.
A voucher? Sound familiar?
Along with this monumental change comes what the writers of the article term a “large-scale marketing campaign,” designed, of course, to sell a very undesirable modification of “the multi-generational compact between management and…
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Five years after Wall Street crashed the economy by irresponsibly securitizing and peddling mortgage debt, the financial industry is coming under growing scrutiny for its shady involvement in student loan debt.
For a host of reasons, including a major decline in public dollars for higher education, going to college today means borrowing—and all that borrowing has resulted in a growing and heavy hand for Wall Street in the lending, packaging, buying, servicing, and collection of student loans. Now, with $1 trillion of student loans currently outstanding, it’s becoming increasingly clear that many of the same problems found in the subprime mortgage market—rapacious and predatory lending practices, sloppy and inefficient customer service and aggressive debt collection practices—are also cropping up in the student loan industrial complex.
This similarity is especially striking in the market for private student loans—which currently make up $150 billion of the $1 trillion of existing student loans.
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America’s political landscape is infested with many zombie ideas — beliefs about policy that have been repeatedly refuted with evidence and analysis but refuse to die. The most prominent zombie is the insistence that low taxes on rich people are the key to prosperity. But there are others.
And right now the most dangerous zombie is probably the claim that rising life expectancy justifies a rise in both the Social Security retirement age and the age of eligibility for Medicare. Even some Democrats — including, according to reports, the president — have seemed susceptible to this argument. But it’s a cruel, foolish idea — cruel in the case of Social Security, foolish in the case of Medicare — and we shouldn’t let it eat our brains.
First of all, you need to understand that while life expectancy at birth has gone up a lot, that’s not relevant to this issue…
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See on Scoop.it – My Liberal Politics
by EZRA KLEIN, The Washington Post
The political-science evidence is clear on this: There’s no such thing as an election mandate. There’s only what a president is able to get done with the Congress the American people gave him.
But few politicians agree. And so the days and weeks after elections are heavy with arguments about who has a mandate, and for what. The latest debate is about whether President Obama, who ran a campaign explicitly promising to raise taxes on high earners and who beat a candidate explicitly promising to refuse any and all tax increases, has a mandate to raise taxes.
Speaker John Boehner says he doesn’t. “Listen, our majority is going to get reelected,” he said the day before the election. “We’ll have as much of a mandate as he [President Obama] will … to not raise taxes.”
Boehner’s logic is, on its face, sound. House Republicans have been as clear in their opposition to new taxes on the rich as Obama has been in his support for them. And House Republicans were reelected. They have as much right to claim a popular mandate as the president does.
Or they would if they’d actually won more votes. But they didn’t. House Republicans did the equivalent of winning the electoral college while losing the popular vote. [MORE]
See on www.washingtonpost.com
See on Scoop.it – My Liberal Politics
Last time we checked, America was a nation founded by and for the people, not political corporate interests. To take the pricetags off our politicians, we need to take a stand against Citizens United….
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See on Scoop.it – My Liberal Politics
It’s not news that special-interest money is increasingly making it harder for our representatives to hear or care what We the People have to say. What IS news is that we’ve just helped create a BIG step in remedying this growing problem.
Coffee Party Austin has joined a new coalition of pro-democracy groups called Texans United to Amend in creating anonline petition that asks local government entities to pass resolutions in support of a constitutional amendment. We urge you to click here to sign the petition which states:
“I urge my local government to pass a resolution that seeks an amendment to the U.S. Constitution to firmly establish that money is not speech, and that only human beings, not corporations, unions, or similar entities, are entitled to constitutional rights.”
Please sign the petition, forward this email to at least two Texans and ask them to sign the petition themselves and pass it on to other Texans. You can also help by sharing the petition on Facebook using the link on the confirmation page.
Polls show that the vast majority of Americans are very concerned about the largely unregulated and unlimited amounts of money used to influence local, state and national elections, so you can expect a receptive audience.
Coffee Party Austin and the Texas United to Amend coalition invite you to join the growing movement that will change our electoral system by signing the petition now.
See on secure3.convio.net
See on Scoop.it – My Liberal Politics
By Ian Millhiser
Citizens United v. FEC gave corporations unlimited ability to spend money on elections, so long as these attempts to buy elections did not involve direct contributions to a candidate. Shortly thereafter, a lower court ushered in the era of super PACs.
To date, however, the courts have left federal limits on contributions directly to candidates or political parties largely unmolested. Under federal law, individual donations to candidates are limited to $2,500 per candidate, per election, and total contributions to candidates, political party committees and similar organizations are limited to $117,000 every two years. Thus, GOP billionaire Sheldon Adelson can currently give tens of millions of dollars to groups trying to elect Republicans that are separate from the Republican Party, but there remains a cap on how much he can give the GOP directly.
A lawsuit brought by the Republican National Committee now wants to eliminate most of these modest restrictions on election buying, and eliminate the $117,000 cap on donations by people like Adelson.
Moreover, because of a federal law that requires the Supreme Court to hear certain campaign finance cases, the Supreme Court is now almost certain to take the case — potentially handing the Republican Party their biggest Supreme Court victory since Citizens United.
See on thinkprogress.org
ObamaCrats. Text from page below:
What is an ObamaCrat you ask? That’s very simple to answer.
An ObamaCrat is better than being just a Democrat, see an ObamaCrat will never be disappointed with POTUS Obama, because we ObamaCrats understand it took over two hundred years, and 43 past POTUS, to fuck up America, and it will take more than just 4 years for this POTUS to clean up the mess left him by the past 43.
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I received this from a friend. The three maps show where there was slavery, racism in the 1950’s and currently. I was shocked so here I am again having my say. There is a movie coming out called Lincoln. I was able to go to see the sneak peak and it was one of the greatest movies I have ever seen. It is also based upon the book, “ A Team of Rivals.” I am reading the book now.
Despite what people these days may think, Lincoln was not a really popular President. The Secret Service was started during his administration. He was walking alone one night and someone took a shot at him and there was a bullet hole in his stovepipe hat. I am very glad they missed.
He wrote and delivered the Emancipation Proclamation and he also got the thirteenth amendment to the Constitution written…
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The Obama administration says the project will improve the grid; environmentalists say it will harm public lands.
This is the kind of debate that should be going on in Congress or some public forum so voters can be informed. (By the way, I support the power line as necessary.)
See on www.washingtonpost.com
See on Scoop.it – My Liberal Politics
by MATTEA KRAMER, TomDispatch.com
Five big things will decide what this country looks like next year and in the 20 years to follow, but here’s a guarantee for you: you’re not going to hear about them in the upcoming presidential debates.
Yes, there will be questions and answers focused on deficits, taxes, Medicare, the Pentagon, and education, to which you already more or less know the responses each candidate will offer. What you won’t get from either Mitt Romney or Barack Obama is a little genuine tough talk about the actual state of reality in these United States of ours. And yet, on those five subjects, a little reality would go a long way, while too little reality (as in the debates to come) is a surefire recipe for American decline.
So here’s a brief guide to what you won’t hear this Wednesday or in the other presidential and vice-presidential debates later in the month. Think of these as five hard truths that will determine the future of this country.
[MORE]
See on www.tomdispatch.com
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This blog is a combination of the ideas I obsess over -- no wait contemplate, yeah, that's it -- contemplate on a daily basis and how I experience life past and present. I'll try to keep it interesting and timely, but I may get bogged down on a topic on occasion. I hope you can find something in the myriad subjects I dwell on of interest and if not, try again another day. I have no shortage of topics to cover.
One thing I won't do is change from a Progressive Liberal Democrat to anything that resembles a conservative. That said, I do find merit in some things that conservatives say and do and recognize that no person is totally on one side of an issue or another--just like no one is all good or all bad, no one is 100% liberal or conservative. But I hope I'm close to 95%!!
I'm often depressed, sometimes a bit manic, and usually scatterbrained. And I'm in the MidWest so as they say around here--If you don't like the climate, just wait a few minutes and the weather will change. So if my ideas don't make a comfortable climate for you one day, come back again. Like a hot, humid, sunny Illinois day in July can turn into a freezing hail storm, my mind can go from one thing to another just about as fast.
Musings from a tortured soul and other information.
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