Posts Tagged ‘recession’

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class="post-651 post type-post status-publish format-standard hentry category-corporations tag-ceo-pay tag-recession">

Happy Labor Day, You’re Fired

September 6th, 2010

Here’s an unfortunate Labor Day message. A new report by the Institute for Policy Studies found that CEOs who laid off the most workers made the most money over the past couple if years. No wonder the recession continues.

View the report here:

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The trends with health insurance benefits are also disturbing.

Another unfortunate fact on this Labor Day, is that unions continue to diminish in their influence and numbers. Workers’ unions have fought to give all of us 40 hour working weeks, weekends, minimum wages, child labor laws, and so much more. Obama needs to follow through on his promises to support and promote union growth. With the prolonging of the recession (partly because businesses won’t start hiring, even when they are plenty profitable), pushing union growth is not an acceptable political move, unfortunately.

On the one hand, we have the crimes of “tough” CEOs who prove they can’t succeed without slashing payroll and benefits, and on the other hand we have the diminished influence of unions who bargain for the collective interests of workers. These two trend make help corporate profits in the short term, they they harm the economy over the long term. They are proving again that our system needs significant reform.

Happy Labor Day. It is, after all, a day off work. But we still have too many people who can’t go back to work tomorrow.