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Monday, December 17, 2018

Why Privatizing Postal Service Is Not An Option

Reprinted with permission from Creators.

 

Unable to find a fatal flaw in our far-flung public mail delivery network, the anti-Postal Service forces manufactured a fake flaw. In 2006, then-president George W. Bush, congressional Republican leaders, the powerful “privatizer lobby” (including FedEx, UPS and Wall Street speculators) and Koch-funded think tanks and Astroturf front groups colluded to put a one-of-a-kind paper “debt” on the books of USPS. Congress enacted a postal-service “enhancement” provision requiring the public postal corporation to pre-fund the health and pension benefits for all postal-service retirees 75 years in advance! Think about that. This arbitrary, wholly unprecedented, legislated requirement to pay now for the retirement benefits of future employees (including those not even born yet) has piled a false cost of about $5 billion a year on the debit side of the agency’s balance sheet.…

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Whitaker Threatened Critic Of Shady World Patent Firm

Reprinted with permission from AlterNet.

 

One of the many problems with President Donald Trump’s decision to appoint former U.S. attorney and Jeff Sessions’ chief of staff Matthew Whitaker as acting attorney general, aside from his extremism, his partisanship, and the fact that he may not be legally eligible for the role, is the ethical questions surrounding his involvement in World Patent Marketing, a Miami-based company that was shut down by the Federal Trade Commission as a scam.

World Patent Marketing, on whose board Whitaker sat, would recruit people who had inventions, tell them that they would be a big hit and were in review by the board, and bilked them out of their money while doing little to nothing, oftentimes even knowingly accepting “inventions” that already existed.…

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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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