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Saturday, October 20, 2018

On Wall Street, Us R Toys

Reprinted with permission from Creators.

 

As America emerged from World War II, the public generally agreed that the ordinary people who had endured the sacrifice should share in the good times ahead. A golden age for the American worker commenced as business, labor and government stood together on the stage.

Labor has since fallen off. Behold the spectacle at Toys R Us.

About a year ago, the company filed for a Chapter 11 bankruptcy. Its private-equity owners closed 800 stores and laid off 33,000 employees — skipping out on $75 million in severance pay.

Toys R Us had its challenges, but it wasn’t a dying business.…

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How Trump’s FDA Is Failing To Make Food Safe

Reprinted with permission from AlterNet.
Center for Investigative Reporting

William Whitt suffered violent diarrhea for days. But once he began vomiting blood, he knew it was time to rush to the hospital. His body swelled up so much that his wife thought he looked like the Michelin Man, and on the inside, his intestines were inflamed and bleeding.

For four days last spring, doctors struggled to control the infection that was ravaging Whitt, a father of three in western Idaho. The pain was excruciating, even though he was given opioid painkillers intravenously every 10 minutes for days.

His family feared they would lose him.…

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FCC Gives Telecoms $3 Billion In Annual Corporate Welfare

Reprinted with permission from DCReport.

The Trump administration, which proposed tripling housing costs for low-income renters, is slashing by 90% or more the utility pole rents paid to local governments by Verizon, AT&T and other cell phone providers. The rent cut for these corporations is worth about $3 billion annually, the National League of Cities estimates.

Utility pole rents will be capped at $270 per pole each year by new Federal Communications Commission rules.

Rents per utility pole are typically $2,400 a year, nine times the FCC cap, said Tony Batalla, IT manager for the city of San Leandro, Calif., a city of 89,000 people across the bay from San Francisco.…

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