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The TRUTH will set you FREE.
Wednesday, August 12, 2015
Bernie Sanders Busts Republicans For Costing America 1.4 Million Jobs With Sequestration
The TRUTH will set you FREE.
HOWARD_12AUG15_8th TIME_U.S. EQUIVALENCE BS MANAGEMENT ENGINEERING EDUCATIONAL POINT ASSESSMENT
SUBMITTED CREDENTIALS
(Duplicate copy from my file)
The TRUTH will set you FREE.
Tuesday, August 11, 2015
TALE OF TWO BERSAMINS
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The TRUTH will set you FREE.
The Outrageous Ascent of CEO Pay
The Outrageous Ascent of CEO Pay
ROBERT B. REICH
For the last thirty years almost all incentives operating on American corporations have resulted in lower pay for average workers and higher pay for CEOs and other top executives.
Consider that in 1965, CEOs of America’s largest corporations were paid, on average, 20 times the pay of average workers.
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| credit: compensationventuregroup.com |
Now, the ratio is over 300 to 1.
Not only has CEO pay exploded, so has the pay of top executives just below them.
The share of corporate income devoted to compensating the five highest-paid executives of large corporations ballooned from an average of 5 percent in 1993 to more than 15 percent by 2005 (the latest data available).
Corporations might otherwise have devoted this sizable sum to research and development, additional jobs, higher wages for average workers, or dividends to shareholders – who, not incidentally, are supposed to be the owners of the firm.
Corporate apologists say CEOs and other top executives are worth these amounts because their corporations have performed so well over the last three decades that CEOs are like star baseball players or movie stars.
Baloney. Most CEOs haven’t done anything special. The entire stock market surged over this time.
Even if a company’s CEO simply played online solitaire for thirty years, the company’s stock would have ridden the wave.
Besides, that stock market surge has had less to do with widespread economic gains than with changes in market rules favoring big companies and major banks over average employees, consumers, and taxpayers.
Consider, for example, the stronger and more extensive intellectual-property rights now enjoyed by major corporations, and the far weaker antitrust enforcement against them.
Add in the rash of taxpayer-funded bailouts, taxpayer-funded subsidies, and bankruptcies favoring big banks and corporations over employees and small borrowers.
Not to mention trade agreements making it easier to outsource American jobs, and state legislation (cynically termed “right-to-work” laws) dramatically reducing the power of unions to bargain for higher wages.
The result has been higher stock prices but not higher living standards for most Americans.
Which doesn’t justify sky-high CEO pay unless you think some CEOs deserve it for their political prowess in wangling these legal changes through Congress and state legislatures.
It even turns out the higher the CEO pay, the worse the firm does.
Professors Michael J. Cooper of the University of Utah, Huseyin Gulen of Purdue University, and P. Raghavendra Rau of the University of Cambridge, recently found that companies with the highest-paid CEOs returned about 10 percent less to their shareholders than do their industry peers.
So why aren’t shareholders hollering about CEO pay? Because corporate law in the United States gives shareholders at most an advisory role.
They can holler all they want, but CEOs don’t have to listen.
Larry Ellison, the CEO of Oracle, received a pay package in 2013 valued at $78.4 million, a sum so stunning that Oracle shareholders rejected it. That made no difference because Ellison controlled the board.
In Australia, by contrast, shareholders have the right to force an entire corporate board to stand for re-election if 25 percent or more of a company’s shareholders vote against a CEO pay plan two years in a row.
Which is why Australian CEOs are paid an average of only 70 times the pay of the typical Australian worker.
The new SEC rule requiring disclosure of pay ratios could help strengthen the hand of American shareholders.
The rule might generate other reforms as well – such as pegging corporate tax rates to those ratios.
Under a bill introduced in the California legislature last year, a company whose CEO earns only 25 times the pay of its typical worker would pay a corporate tax rate of only 7 percent, rather than the 8.8 percent rate now applied to all California firms.
On the other hand, a company whose CEO earns 200 times the pay of its typical employee, would face a 9.5 percent rate. If the CEO earned 400 times, the rate would be 13 percent.
The bill hasn’t made it through the legislature because business groups call it a “job killer.”
The reality is the opposite. CEOs don’t create jobs. Their customers create jobs by buying more of what their companies have to sell.
So pushing companies to put less money into the hands of their CEOs and more into the hands of their average employees will create more jobs.
The SEC’s disclosure rule isn’t perfect. Some corporations could try to game it by contracting out their low-wage jobs. Some industries pay their typical workers higher wages than other industries.
But the rule marks an important start.
ROBERT B. REICH, Chancellor’s Professor of Public Policy at the University of California at Berkeley and Senior Fellow at the Blum Center for Developing Economies, was Secretary of Labor in the Clinton administration. Time Magazine named him one of the ten most effective cabinet secretaries of the twentieth century. He has written thirteen books, including the best sellers “Aftershock" and “The Work of Nations." His latest, "Beyond Outrage," is now out in paperback. He is also a founding editor of the American Prospect magazine and chairman of Common Cause. His new film, "Inequality for All," is now available on Netflix, iTunes, DVD, and On Demand. + FOLLOW ON TUMBLR + TWITTER + FACEBOOK
U.S. Coast Guard sees added burden in Shell’s Arctic quest
U.S. Coast Guard sees added burden in Shell’s Arctic quest
The U.S. Coast Guard Legend-class national security cutter USCGC Waesch
In 2012, the last time the company explored in the Arctic, Coast Guard helicopters had to rescue 18 Shell workers from an out-of-control oil rig in stormy seas, one of several mishaps the company suffered that year. The rig ran aground and had to be scrapped. A later Coast Guard report was sharply critical of Shell’s safety preparation and conduct.
By Timothy Gardner: 11 August 2015
WASHINGTON (Reuters) – The U.S. Coast Guard has been forced to divert resources – including a vessel that fights cocaine trafficking – to the Arctic this summer to ensure that Royal Dutch Shell’s exploratory oil drilling meets its environmental and safety commitments, its top officer said.
The added Coast Guard presence in the Chukchi Sea off Northern Alaska includes the Waesche, a 418 foot-long (127 m) national security ship, which otherwise would be operating in the Caribbean Sea and Gulf of Mexico, fighting drug traffickers.
The TRUTH will set you FREE.
Latest On Royal Dutch Shell Arctic Drilling Plan
Latest On Royal Dutch Shell Arctic Drilling Plan
Bidness Etc discusses when Shell can resume drilling in the Arctic and analyses the problems it faces
By: MICHEAL KAUFMAN: Published: Aug 11, 2015
Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) is ready to begin drilling in the Arctic. The US Bureau of Safety and Environmental Enforcement had previously banned the company from drilling at certain petroleum sites.
While the company was scheduled to begin drilling on July 30, some equipment used to control a well blowout that was being carried by a safety vessel suffered damage and was sent back for repairs, delaying the project. Shell’s experience in the Arctic has not been that great. Three years ago the company saw one of its rigs come ashore, causing damage to the environment.
The TRUTH will set you FREE.
Ann Pickard: the little-known executive leading Shell’s gamble on Arctic oil
Ann Pickard: the little-known executive leading Shell’s gamble on Arctic oil
Pickard is known as one of the oil industry’s toughest political operators with a history of doing whatever it takes to further Shell’s interests – and the Arctic is ‘just too big a prize’ to leave
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SYNDICATED ESTAFA
MY QUEST FOR SWINDLED
RETIREMENT PAY BY SHELL
 
SWINDLING ITO, SYNDICATED ESTAFA
HOT PURSUIT
DUTY OF LAW ENFORCEMENT ENTITIES
SHELL SWINDLING OF RETIREMENT PAY 5TH YEAR
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