Working Life

    I don’t see how the UAW can avoid a strike at Delphi, without agreeing to massive concessions. As reported today in the Wall Street Journal, the UAW is about to lay down a last offer: The United Auto Workers union is preparing a last-ditch, take-it-or-leave-it offer to Delphi Corp. and its private-equity partners, according […]

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This doesn’t surprise anymore, does it? Even though it is obscene beyond belief. After firing 3,400, Circuit City enriches CFO By Michael Rapoport, Dow Jones Newswires NEW YORK — Even as Circuit City Stores (CC) pushed 3,400 purportedly overpaid employees out the door, the company went out of its way to make the departure of […]

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Obviously, the answer is no, is you caught today’s story in the The Wall Street Journal: For the first time since 2003, General Motors Corp. is giving bonuses in the form of stock to Chairman and Chief Executive Rick Wagoner and other top executives, a move that could complicate GM’s efforts to get further concessions […]

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Sort of an interesting article in today’s Wall Street Journal about the alliances developing among various players opposed to the obscene CEO pay packages. These activists sometimes form loose networks to share strategies and lobby for each others’ causes. A few are uncomfortable with the “activist” label. John A. Hill, chairman of the board of […]

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I think I’ve mentioned this before that Gretchen Morgenson is one of the consistently rare New York Times reporters who breaks ground and is a damn good reporter. She believes in capitalism but is appalled by the obscene greed of the CEO class. Virtually every column she writes each week in the Sunday Times Biz […]

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From time to time, as readers know, I’ve tended to praise Ben Stein, a columnist for The New York Times (among his endeavors), because he is one of those market-loving capitalists who is appalled by the absolute greed exhibited by the captains of industry. Today, he has another lament about the disgusting self-enrichment of people […]

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So, another failed CEO takes a fall over excessive pay. It was pretty amusing to watch the press frenzy over his crash and burn because of his refusal to even take a modest cut in his pay package. Robert the Hog, who took home $64 million over six years and was in line to pocket […]

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A bit of easy activism for you on a weekend—if you needed more evidence of the corruption of corporate America, just check out United Airlines. Here’s an airline in bankruptcy, it reaches a deal to jettison its pension plans and dumps those liabilities on the government, which means a lot of workers will not get […]

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