Tag Archives: Corporate profits

Record Profits Linked to Weak Wages

Record Profits Linked to Weak Wages
U.S. businesses have never had it so good. Corporate cash piles have never been bigger, either in dollar terms or as a share of the economy. The labor market, meanwhile, is still millions of jobs short of where it was before the global financial crisis first erupted over six years ago. Coincidence? Not in the slightest, according to Jan Hatzius, chief U.S. economist at Goldman Sachs. Read more

Barclays Bonuses Rise to Nearly $4 Billion

Barclays Bonuses Rise to Nearly $4 Billion
Amidst an avalanche of Wall Street banks paying fines (instead of being criminally prosecuted by the Department of Justice) for fraud, Barclays is giving out billions of dollars in extra compensation to senior financial staff. Most working people are lucky to get a $50 bonus at the end of the year. But most people don't work on Wall Street where the corporate culture rewards individuals who encourage pushing at the edge of the legal ... Read more

A Boom in Corporate Profits, a Bust in Jobs, Wages

By Paul Wiseman Associated Press, July 23, 2011 WASHINGTON — Strong second-quarter earnings from McDonald’s, General Electric and Caterpillar on Friday are just the latest proof that booming profits have allowed Corporate America to leave the Great Recession far behind. Photo: AFP Strong second-quarter earnings from McDonald’s, General Electric and Caterpillar on Friday are just the latest proof that booming profits have allowed ... Read more