Elon Musk Went on a Firing Frenzy at Twitter. Now He’s Paying for It |
When Elon Musk bought Twitter for $44bn, he clearly didn’t know that the key assets he was buying lay in Twitter’s 7,500 workers’ heads. On corporate balance sheets, the assets of a corporation are its factories, equipment, patents and brand name. Workers aren’t considered assets. They appear as costs. In fact, payrolls are typically two-thirds of a corporation’s total costs. Which is why companies often cut payrolls to increase profits.
Source: Elon Musk Went on a Firing Frenzy at Twitter. Now He’s Paying for It | Portside
Winter Is Coming: A Recession Created by the Fed’s Disdain for Workers
The so-called “independence” of central banks is much more about its freedom from democratic rule than its neutrality between capital and labor.
Source: Opinion | Winter Is Coming: A Recession Created by the Fed’s Disdain for Workers | Dante Dallavalle
Want To Know What’s Going On in Our Economy? Talk to Workers.
The Biden administration has created more jobs in the first term of a presidency than any other presidency in American history—and with just three weeks to go before the midterm elections, his administration has not been shy about touting these unprecedented job numbers. And yet the president’s approval numbers continue to lag and many Democrats up for election across the country find themselves trailing their Republican opponents. Why, amid one of the strongest post-recession recoveries in modern history, is such a positive jobs narrative falling on deaf ears?
Source: Want To Know What’s Going On in Our Economy? Talk to Workers. | Portside
https://redfortyeight.com/2022/10/21/76654/: There is no Planet B Continue reading “latest_10_22_22x”
Continue reading “latest_9_11_22”