Showing posts with label corporate greed. Show all posts
Showing posts with label corporate greed. Show all posts

Tuesday, November 20, 2012

A Progressive Voice In The Mainstream Media

Although her views are not radically different from those found at alternative news sites such as The Raw Story, Truthdig or Alternet, jounalist Linda McQuaig is always a treat to read, if for no other reason than the fact that her views make it into the mainstream media, so often the mere repository and purveyor of 'establishment' views.'

In today's Star, where she writes a monthly column, this former Globe and Mail writer b.p (before the purges) points out a truth that concerned citizens may be very much aware of, but which rarely sees print. Entitled Fight against climate change blocked by Luddites at Big Oil, McQuaig explores why Big Oil stoutly resists and fights efforts to combat climate change, despite the tremendous environmental, human, social and economic costs that are becoming increasingly evident with each passing season.

Her piece is yet one more arrow in the quiver of knowledge all of us need if things are ever going to improve.

Monday, November 5, 2012

Food Banks: The Art of Enabling

Few rational people would deny the contemporary need for food banks. Begun in Canada largely as a temporary anodyne to recession-induced job losses in the 1980's, they have grown in size and scope, becoming a seemingly permanent fixture on our socio-economic landscape.

The annual study by Food Banks Canada reports the following:

More than 882,000 Canadians used a food bank in March 2012, up 2.4 per cent from last year, says the annual study by Food Banks Canada.

The number of people using meal programs — where meals are prepared and served —also jumped 23 per cent from last year, the study found. It says food bank usage is up 31 per cent since the start of the 2008 recession.

Sadly, increasing numbers of clients are in fact employed but working at jobs that do not provide a living wage.

Having volunteered at a local food bank for over five years, I have found myself increasingly uncomfortable over the fact that I am part of the problem; by helping with their operations, I am in fact aiding and abetting the morally indefensible abandonment of the poor by both provincial and federal governments; by ensuring that the problem is bandaged over by distributing goods high in sodium, sugar and fats, and deficient in nutritional value save for seasonal fruits and vegetables provided by community gardens, in the larger scheme of things I am doing no one any real favours.

It is time to demand more from our governments, who seem almost exclusively focused on the commercial class, whilst ordinary citizens, despite being the putative recipients of economic policy, are relegated to literally accepting scraps from the table.

This dichotomy between Canadian citizens and our corporate overlords is amply drawn in a column this morning by the Star's Carol Goar. Its title, Corporations prosper while food banks overwhelmed, says it all.

We have become a cowed people, too afraid to insist that government take care of its people lest we chase away the chance of a corporation setting up shop here to exploit people at near-minimum wage. After all, as the narrative goes, there are plenty in the developing world happy to work for five dollars a day.

I don't pretend to have the answers, but living in fearful submission and depending on the private goodwill of people cannot be one of them.

Monday, September 17, 2012

If They Won't Spend It, Perhaps We Should Tax It Back?

That is the question I am left with after reading this article in today's Star on the over $500 billion (the article erroneously describes it as $526 million) corporate Canada is sitting on, in part thanks to generous tax cuts, rather than investing some of it and creating jobs.

Saturday, September 1, 2012

The Folly of Corporate Tax Cuts

Part of the orthodoxy of right-wing ideology is that corporate tax-cuts are an unalloyed benefit to the economy. The argument goes that the lower the tax regime, the more jobs that are created.

While that ideology has been proven patently false in Canada, for those seeking some well-reasoned arguments the next time a 'true-believer' captures your ear, look no further than a fine series of letters published in today's Star, only one of which I am reproducing below:

Corporations optimize their operations to maximize after-tax profit. When corporate profits are heavily taxed, reinvesting in the business provides a tax write-off that has a powerful risk damping effect; simultaneously, cash hoarding is penalized. Companies have no choice but to reinvest their profits.

When corporate tax rates are unsustainably low, reinvestment risks are not counteracted by tax breaks and there is no penalty for hoarding. It becomes hard to justify new staff and equipment when the lower-risk, higher-profit approach is to simply hoard cash.

This is not ideology; it is the mathematically inevitable result of optimizing for maximum after-tax profit. That Flaherty has not made the connection between the last two decades of tax policy and the current hoarding problem is rather surprising.

Matthew B. Marsh, Kingston

Friday, August 31, 2012

A Sage Observation

Paul Kahnert of Markham has an uncommonly apt observation in this morning's Star, one that I'm sure the ideologues leading us both federally and provincially will choose to ignore:

Re: Canada’s idle threat, Business Aug. 25

It’s time to reverse corporate tax cuts. David Olive’s article was proof positive that tax cuts don’t work. Weren’t tax cuts for corporations supposed to make them “competitive” and create lots of job for Canadians? We’ve been conned. The only thing tax cuts created was massive wealth for corporations and the top 1 per cent.

Corporate tax cuts have been one of the main contributors to the $526 billion of profits sitting idle in their bank accounts. Right now provincial and federal deficits are running at about $65 billion a year. All governments are crying poor and say they can’t afford to pay for public services like health care, education and infrastructure like water, sewage roads and bridges. Baloney.

We don’t have a deficit problem. We have a distribution of wealth problem. Governments need to tax that money back and get on with the job of building this country with good jobs.

And all of us need to stop voting foolishly for politicians who keep promising us tax cuts.

Wednesday, January 4, 2012

Caterpillar, Inc. - A Reprehensible Corporate 'Citizen'

When I think of caterpillars (which, until recently, I have to admit, has been rarely), I think of a slow-moving yet determined creature on its way to metamorphosis, often into something quite beautiful. Unfortunately, that gentle imagery must be cast aside when considering Caterpillar Inc., an ugly corporate entity intent on wreaking havoc to those in its employ.

As previously noted, Electro-Motive Canada, a subsidiary of the company, has made untenable demands of its workers, resulting in a lockout at its London plant. In The Star today, David Olive writes on how the gutting of contracts is a practice well-documented in Caterpillar''s American operations, employing a tactic best described as a war of attrition against its employees:

The firm has a practiced skill at “taking a strike” for as long as required until workers straggle back to work across their own picket lines.

Indeed, the usual excuse of seeking increased productivity during difficult times doesn't even apply to its ruthless tactics:

Well ahead of the Great Recession, during a banner year for the world’s largest maker of construction and mining equipment, Cat insisted that its managers gird for a worst-case scenario of an 80 per cent plunge in sales over two years.

And on a single day in 2009, Caterpillar blithely laid off 11,000 employees, or 9 per cent of its global workforce. Like most U.S. employers, Cat has a hair-trigger for layoffs at the first sign of tough times.

Despite this well-documented practice, it was given permission by Industry Canada in 2010 to purchase Electro-Motive Canada in London, for generations the North American locomotive arm of General Motors Corp.

And yet silence over this outrageous corporate behaviour, which would assumes violates the terms of the foreign takeover, ensues from both the Harper government in general, and Industry Canada is particular.

Where is the outrage?

What were the terms, if any, that Industry Canada stipulated for Electro-Motive's purchase?

Where are the leaders of the opposition parties, who have thus far observed the same stony silence as the government?

Who will speak up in defense of good-paying Canadian jobs?

One shudders to consider the answers.

Tuesday, January 3, 2012

More Good News For the Corporate Sector

While corporations continue the arduous task of union-busting and contract-gutting, their efforts are being amply rewarded. Not only has a beneficent and ideologically-driven Harper government cossetted them with a record-low tax rate, but the captains of industry who lead these voracious job-destroying entities are also prospering quite nicely thanks to compliant and obsequious boards. To put their good fortune into perspective, according to a report published Tuesday by the Canadian Centre for Policy Alternatives, by lunchtime today, Jan. 3, the highest-paid chief executives officers in Canada will have earned as much as the average Canadian makes in an entire year.

As announced in The Star today, while the majority of Canadian workers are struggling with either stagnant, eroding or minimum wages, in 2010 those toiling as corporate CEO's, regardless of company performance, garnered an average 27% increase in remuneration over the previous year, while by comparison, the average Canadian earned $44,366 that year, or 1.1 per cent more than in 2009.

I ardently await the renewal of the Occupy Movement.

Monday, January 2, 2012

Our Prime Minister's Great Economic Plan Seems To Be Working .... For the Corporate Sector

In light of the ongoing dismantling of our industrial base by our corporate 'masters,' coupled with the latest reduction in the corporate tax rate engineered by the pseudo-economist Stephen Harper, this video is worth viewing:

Wednesday, September 28, 2011

The Guardian Writes About The Occupy Wall Street Movement

For those interested, there is a thoughtful article on the implications of the Occupy Wall Street Protest found, not in an American newspaper, but in The Guardian. Entitled Occupy Wall Street rediscovers the radical imagination, it provides both the context of the movement and its implications for the future.

For anyone fed up with the status quo and the fact that nothing substantive changed after the 2008 meltdown, it is well-worth reading.

Chris Hedges On The Wall Street Occupation

Chris Hedges, whose purity of vision and integrity I deeply admire, has an interview posted in a series of parts on You Tube regarding the Occupy Wall Street Protest and why he is part of it. Below is the first part of that interview:


The Occupy Wall Street Protest

The Occupy Wall Street Protest, now in its 12th day, has received very little coverage in the mainstream press, for reasons that seem too obvious to state. As usual, The Real News Network informs us where corporate media fears to tread. The following video offers a useful primer on the movement which, despite the fact that it is a demonstration against the excesses of American capitalism, has equal application to our country. Other video links will follow soon.

Thursday, September 15, 2011

Tell People In the Maldives That Climate-Change Is A Hoax

In a story that even the most unthinking extreme right-winger would find hard to refute, The Star today reports that the world's lowest country is sinking under rising water levels. Entitled People forced to move as world’s lowest country sinks under rising seas, it describes how entire communities have had to be moved on some islands in the Maldives.

Climate change skeptics only have to look at his country, an archipelago in the Indian Ocean, and other sea-level nations to see its horrific effects on the environment, Environment Minister Mohamed Aslam said.

"In the past two to three decades, we have relocated entire populations from one island to the other simply because life wasn't sustainable in those islands," he told an Asian Development Bank conference on climate induced migration.


Something tells me, however, that given the recent record number and intensity of hurricanes and tornadoes that have caused great damage in North America without arousing any corporate or governmental interest in the abatement of emissions, the plight of people so far away will mean even less to the powers that be.

Friday, September 9, 2011

Things Go Better With Coke (Except Taxes)

People of a certain age will remember the old ad slogan, "Things Go Better With Coke." Apparently France disagrees, as it seeks to impose a minuscule tax on the sale of sugary sodas.

In an unusually bald and public attempt to pervert government policy, the Coca-Cola corporation is suspending plans for a $24 million dollar investment in France, pending the outcome of the proposed legislation. As well, it is embarking on a propaganda campaign questioning the relationship between the consumption of high-calorie sugar-laden sodas and obesity.

Perhaps we can only infer that by targeting France in this way, the mighty cola corporation is sending a message to all countries who might have the temerity to in any way compromise Coke's unquenchable thirst for profit.

Saturday, September 3, 2011

Brand Obama

While I do not usually wade into American politics on this blog, I am going to make a rare exception tonight. The posting will be brief, as the link I will provide says things much better than I could.

Almost two years ago, my wife and I attended a talk by Chris Hedges, who was promoting his book, Empire of Illusion. Deeply pessimistic about the future of the United States, Hedges saw little hope for change with Obama as President. Dismissively, he referred to him as "Brand Obama," asserting that he was no different from other brands such as "Brand Bush, pere et fils."

At the time, I was deeply offended and thought Hedges extraordinarily cynical. Time, of course, has demonstrated his prescience.

And with that thought in mind, please follow my link to an essay by Robert Redford entitled, Is the Obama Administration Putting Corporate Profits Above Public Health?, in which the actor offers his thoughts on Obama turning his back on promised environmental legislation that would have saved about 12,000 lives per year in the United States.

Monday, August 8, 2011

Shaking Up The Complacent

If anything will defeat us as a progressive nation, it is the complacency and defeatism of the electorate. Feeling powerless, something I am convinced the extreme right wants us to feel, contributes to low civic and political engagement and, of course, low turnout at elections, again keys to victory by the right.

Although the following video is American, I find the issues it addresses and the potential resilience of the people it suggests to be heartening. There is absolutely no reason a similar movement could not exist in Canada:



Thursday, August 4, 2011

Michael Moore and Dead Peasant Insurance

Long overdue, I finally got around to watching Michael Moore's latest documentary Capitalism: A Love Story last evening, having borrowed the disc from my local library. (Happily, not being a resident of Toronto, I don't at present have to worry about my branch closing.) While Moore is often criticized for the built-in biases of his films, his works, I think, are analogous to the pamphleteers of old, advocating for a particular goal or point of view. From the right-wing, such efforts are frequently viewed as subversive, while their constant propagandizing, of course, is different, mere earnest efforts to convey “THE TRUTH” (unregulated free markets good – regulation bad). But I digress.

While much of what the film covers wasn't new to me, as always, Moore puts a human face to the economic catastrophe that rocked the world in 2008, and helps us to connect emotionally to the personal tragedies that were the direct result of unregulated and unchecked greed. What was new to me, however, was the term 'dead peasant insurance', the ghoulish corporate practice of insuring the lives of employees, not for their families' benefit should they die, but to enhance corporate profits.

One example drawn from the film details how a 26-year-old young mother, employed by Walmart, died of an asthma attack, her demise yielding almost $90,000 to America's favorite superstore, while the widowed husband and father of their three young children struggled paying medical and funeral bills of over $100,000 for her unsuccessful treatment. No price rollback for him, unfortunately.

Another instance was of a bank benefitting to the tune of $1.5 million when one of its employees died, the widow, of course, having no knowledge of it and, of course, no offers of financial assistance from her late husband's employer.

I could go on with more of the grisly details of corporate greed and depredation the film covers, but I'll stop here and urge everyone to take a look at the film which is also available free online.