Boeing’s most recent Securities and Exchange Commission filing has revealed that CEO Jim McNerney will be paid $3.9 million a year in pension benefits for each of the next 15 years. This revelation follows the announcement that he will retire on July 1st but will remain as chairman until February of 2016.
Just in case you need a reminder of how lopsided the economy has become, a new paper from economists at the London School of Economics and the University of California at Berkeley shows the bottom 90 percent of American families are no wealthier than they were in 1986. While the top one percent have seen their share of wealth steadily grow, the vast majority of Americans are making due with less.
When it comes to the core mechanics of the American economy and the inequality created by the financial markets, Senator Elizabeth Warren might be the average citizen's most powerful voice. In an interview with Salon, the Massachusetts Senator held no punches when giving her report on the President's approach to saving the economy.
The embarrassing release of sensitive documents from the Republican Governors Association chronicles the ridiculous amounts of money they've been receiving from corporate benefactors since Citizens United allowed unlimited rivers of money to flow into American politics.
The nation's most massive inequality can be located in one very expected New York City community. The numbers show that the top 5 percent of households in Manhattan earned 88 times as much as the poorest 20 percent.
The House GOP is pushing for an exemption that would allow big corporations to forgo publishing financial information – a huge setback for advocates of open data and transparency.
The practice of "inversions," whereby a US corporation gobbles up a foreign entity than basically revokes its citizenship to avoid taxes, is getting some heavy scrutiny by Treasury Department head, Jack Lew. Lew will rule soon to diminish incentives that lead companies down the rosy tax cheat path.
Elizabeth Warren laid into Eric Cantor for picking up a cozy Wall Street job directly after leaving (well, being ousted, really) office. He has no expertise, Warren said, other than access to politicians in Washington.
WikiLeaks published a previously tightly-held and secretive draft of a trade document on Thursday that, if enacted, would give the world's financial powers an even more dominant position to control the global economy by avoiding regulations and public accountability.
The US may have added jobs in may (an anemic 217K), but wasn't able to make a dent in the employment numbers, which have hovered at 6.3% and remain frustratingly static.
