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Thursday, November 15, 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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A Chance To Swing Nevada

Reprinted with permission from Tomdispatch.

It’s what campaigners say every November, I know, but this year’s election really is as important as it gets. Will U.S. voters choose to halt the progress of Donald J. Trump’s slow-motion coup? Or will the tide just continue rolling over us? So much depends on what happens in Nevada — a state that once elected a senator by a mere 401 votes. The race between Jacky Rosen and Dean Heller represents the best chance we have of taking the Senate away from the GOP this year. That’s why 40 people are spending two months living in a hotel this fall, working to make it happen.…

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Ford May Lay Off 24,000 In Trump’s Trade War

Reprinted with permission from Shareblue.

 

Trump’s trade war is also a war on American workers — including workers at iconically American companies like Ford.

Ford has already lost $1 billion thanks to Trump’s trade war, NBC News reports. And now the American automaker is looking at thousands of layoffs as part of a reorganization strategy.

The exact number of layoffs is unknown, but is estimated to be about 24,000 workers worldwide, according to a recent analysis from Morgan Stanley.

“Ford has already warned that President Donald Trump’s auto tariffs have impacted the company to the tune of $1 billion, and the president’s trade policies threaten to play havoc with Ford’s ongoing reorganization,” Ford CFO Bob Shanks told NBC News.…

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