Activists at Jackson Hole See Recovery on Wall Street, ‘Not My Street’
The Wall Street Journal - August 22, 2014, by Pedro Nicolaci Da Costa - A group of activists has descended on the Kansas City Federal Reserve Bank’s annual conference in Jackson Hole, Wyo., to...
The Wall Street Journal - August 22, 2014, by Pedro Nicolaci Da Costa - A group of activists has descended on the Kansas City Federal Reserve Bank’s annual conference in Jackson Hole, Wyo., to tell central bank officials that any move to raise interest rates soon could wreak havoc on the lives of Americans still struggling with a weak economic recovery.
U.S. unemployment has fallen fairly rapidly in recent months, to 6.2% in July, down from its post-recession peak of 10%. However, the activists said those numbers mask much deeper troubles in the country’s poorer neighborhoods. The unemployment rate for African-Americans, for instance, was 11.1% in July.
Reggie Rounds, 57 years old, came to the conference from Ferguson, Mo., the site of recent violent protests following the killing of an unarmed teenager by a police officer. During a brief conversation here with Federal Reserve Vice Chairman Stanley Fischer, Mr. Rounds, who is unemployed and says he hasn’t had regular work for years, urged the central bank to keep poor Americans on their minds as they make policy decisions.
“I deal with people who have educated themselves. These people, sir, are inundated with student loans. They’re making just not livable wages or not wages at all,” Mr. Rounds told Mr. Fischer. “We’re desperately needing a stimulant into this economy, and job creation, to get us going.”
Mr. Fischer responded: “That’s what the Fed has been trying to do and will continue to try to do.”
The Fed has kept interest rates near zero since December 2008 and bought more than $3 trillion in government and mortgage bonds to keep long-term rates low, spur investment and boost hiring.
However, recent improvements in the job market and a pickup in inflation have revived debate about when the central bank should begin lifting interest rates from rock-bottom lows. In her speech here Friday, Fed Chairwoman Janet Yellen said if the labor market keeps improving faster than the Fed forecasts the central bank could raise rates sooner than expected. Many investors anticipate the first move in the summer of next year, a perception some top Fed officials have encouraged.
Representatives of the Center for Popular Democracy, a left-leaning national nonprofit organization, said they organized the activists’ trip to Jackson Hole. The participants argued that near-term rate increases could have a deep negative impact on the most vulnerable sectors of the population.
Reuben Eckels, 51, a reverend from Wichita, Kan., said he had come to the conference to tell policy makers “how raising interest rates would affect the community in which I serve.” He and other activists played down the notion of a “skills gap” where workers might not have the qualifications for the jobs available.
“We have young people who are college students in our church who have a 4.0 [grade average], Dean’s list, they can’t find jobs,” he said. “So this is not about just raising the rates so we can offset an imbalance for those elderly who are trying to save their portfolio. This is about people on the street, everyday people … who are just trying to live a good quality of life.”
Shemethia Butler, 34, is one such individual. Hailing from Washington, D.C. the mother of two says she is dealing with extreme stress because the wages she earns at McDonald’s aren’t enough to cover her rent, much less basic expenses like food, electricity and transportation.
“I have no vehicle. My housing situation is stressful. I’m about to lose my apartment. I’m struggling really hard,” she said. “Things may be fine on Wall Street, but they’re not fine on my street.”
Source
Fed Rate Hike Threatens Jobs and Wages
12/16/2015
Statement & Booking Opportunity : Connie Razza, Director of Strategic Research for the Center for Popular Democracy (CPD) released...
12/16/2015
Statement & Booking Opportunity : Connie Razza, Director of Strategic Research for the Center for Popular Democracy (CPD) released the following statement in advance of the likely interest rate hike this afternoon:
“The presumption underlying the Fed’s decision today is that the economic recovery is nearing completion, a determination wholly at odds with the data on which the Fed is committed to depending. Inflation is well below the Fed’s own target and wages remain stagnant, yet Fed officials voted today to intentionally slow down the economy. Today’s announcement lays the foundation for unnecessary economic obstacles in the way of the tens of millions of working people across the country who deserve higher wages and better jobs, and particularly the Black and Latino communities still mired in a Great Recession. We urge the Federal Reserve to deliberate carefully in considering future increases.” The Fed Up campaign is bringing the voices of working families and communities of color into the national debate about Federal Reserve policy. In the past year, our members have met with 9 of the 12 regional presidents and 4 of the 5 sitting Governors, sharing with them the human realities that underlie the economic numbers. We are urging the Fed to fulfill both sides of its dual mandate and build an economy with genuine full employment, where everybody who wants a good job can find one. In the event that the Federal Reserve does not raise interest rates, you will receive another statement following the Fed’s announcement on Wednesday afternoon.
To schedule interviews with Connie Razza, send an email to ajain@populardemocracy.org
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www.populardemocracy.org
The Center for Popular Democracy promotes equity, opportunity, and a dynamic democracy in partnership with innovative base-building organizations, organizing networks and alliances, and progressive unions across the country. CPD builds the strength and capacity of democratic organizations to envision and advance a pro-worker, pro-immigrant, racial justice agenda.
Media Contact:
Anita Jain, press@populardemocracy.org, 347-636-9761
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Gap Inc. to end on-call scheduling after inquiry by New York attorney general
A spokeswoman for the San Francisco-based retailer said Thursday the decision also applies to Gap's other brands, including Banana Republic, Old Navy and Athleta and was part of an effort to "...
A spokeswoman for the San Francisco-based retailer said Thursday the decision also applies to Gap's other brands, including Banana Republic, Old Navy and Athleta and was part of an effort to "improve scheduling stability and flexibility" for workers.
Spokeswoman Laura Wilkinson said the change will apply "across our global organization" and will be fully implemented by the end of this month. Wilkinson said the company is working to establish scheduling systems giving store employees at least 10 to 14 days' notice.
Attorney General Eric Schneiderman's office sent letters to Gap and 12 other retailers earlier this year questioning them about on-call scheduling, which required hourly workers to stay on-call for shifts set the night before or the same day, giving them little time to arrange for child care or work other jobs.
"Workers deserve stable and reliable work schedules, and I commend Gap for taking an important step to make their employees' schedules fairer and more predictable," said Schneiderman, a Democrat.
Abercrombie & Fitch also ended the practice this month.
Carrie Gleason, director of the Fair Workweek Initiative at the Center for Popular Democracy, said in a statement that Gap's decision reflects not only Schneiderman's concerns but also a new ordinance in San Francisco requiring chain retailers to set schedules in advance. Similar proposals are pending before other city governments.
"Working people in hourly jobs are starting to speak out about the impact that employers' scheduling practices has on their lives," Gleason said in a statement.
Source: US News & World Report
California in Crisis - The Report
A Report on the Foreclosure Crisis
California in Crisis: How Wells Fargo's Foreclosure Pipeline is Damaging Local Communities
Five years after the housing market collapsed,...
Five years after the housing market collapsed, California’s economy remains weak. The unemployment rate is nearly 10 percent, twice what it was in 2006, and in 2012 the State’s underemployment rate averaged an astonishing 19.3 percent.
The continuing housing crisis remains a key cause of this widespread economic tragedy. Nearly two million California homeowners are underwater, owing more on their mortgage than their home is worth.
Since 2008, banks have foreclosed on approximately 1.7 million homes in the state. Right now, around 65,000 California homeowners are in the “foreclosure pipeline” – they’ve received a Notice of Default or a Notice of Trustee Sale. Every day, more and more families get added to this list.
Wells Fargo is the biggest mortgage service provider in California, responsible for nearly one in five of these impending foreclosures. This report shows the tremendous damage that will befall California’s communities if Wells Fargo continues to foreclose on so many families.
Download the report here.
Executive SummaryFive years after the housing market collapsed, California’s economy remains weak. The unemployment rate is nearly 10 percent, twice what it was in 2006, and in 2012 the State’s underemployment rate averaged an astonishing 19.3 percent. Millions of Californians are struggling to make ends meet.
The continuing housing crisis remains a key cause of this widespread misery. Nearly two million California homeowners are underwater, owing more on their mortgage than their home is worth. This tremendous mortgage debt is severely crippling the State’s economy by holding back consumer spending and preventing a robust recovery.
And the mortgage debt is devastating the lives of too many Californians. Since 2008, banks have foreclosed on approximately 1.7 million homes in the state. Right now, about 65,000 California homeowners are in the “foreclosure pipeline” – they’ve received a Notice of Default or a Notice of Trustee Sale. Every day, more and more families get added to this list.
Wells Fargo is the biggest mortgage servicer in California, responsible for nearly one in five of these impending foreclosures. This report shows the tremendous damage that will befall California’s communities if Wells Fargo continues to foreclose on so many families. As of February 2013, Wells Fargo had 11,616 homes in its foreclosure pipeline. If all of these homes were to go through foreclosure:
Each home would lose approximately 22 percent of its value, for a total loss of approximately $1.07 billion, Homes in the surrounding neighborhood would lose value as well, for an additional loss of about $2.2 billion; and Government tax revenues would be cut by $20 million, as a result of that depreciation.Every month, more homes fall into the foreclosure pipeline, compounding this disaster. The foreclosure crisis has hit African-American and Latino borrowers and communities particularly hard. The pages below highlight the concentration of distressed loans handled by Wells Fargo that are in African-American and Latino neighborhoods. These communities have already suffered tremendous wealth loss due to the recession and this report shows that far more harm will occur in the coming months unless Wells Fargo changes its policies.
But Californians do not have to accept this bleak future. Economists and policy experts across the political spectrum agree that an alternative approach to the housing crisis can be a win-win-win for homeowners, mortgage holders, and California’s economy. As this report explains, widespread modification of home mortgages to current market value would prevent tens of thousands of needless foreclosures, inject billions of dollars into the economy, create hundreds of thousands of new jobs – and would even be in the financial interest of the investors who own the mortgages.
Wells Fargo is a pivotal actor in determining whether principal reduction becomes a widespread solution. Its failure to lead on this issue is clear. The most recent report from the national monitor of the multi-state Attorneys General mortgage servicing settlement shows that in California, Wells Fargo is providing far less principal reduction than Bank of America, despite the fact that it services more loans.
The solutions are clear: Wells Fargo should (1) commit to a broad program of principal reduction, (2) be honest with Californians by reporting data on its principal reduction, short sales, and foreclosures by race, income, and zip code, and (3) immediately stop all foreclosures until the first two solutions are implemented.
After years of predatory lending and heartless foreclosures, it is time for Wells Fargo to stop. Stop the needless foreclosures. Stop the needless evictions. End this housing crisis.This Small City Has a Plan to Fight the Silicon Valley Housing Crisis
This Small City Has a Plan to Fight the Silicon Valley Housing Crisis
For more than three months, Gabriela Mercado has crisscrossed Richmond, California, a working-class and immigrant city that sits on the eastern edge of the San Francisco Bay. She hits the streets...
For more than three months, Gabriela Mercado has crisscrossed Richmond, California, a working-class and immigrant city that sits on the eastern edge of the San Francisco Bay. She hits the streets, talks to strangers, and knocks on doors in support of an old-school solution to towering rents across the region. She is part of a coalition of workers, tenants, and progressive politicians pushing an initiative on the November 8 ballot that would create the first new rent-control law in California in nearly 30 years. Mercado says her commitment to the cause comes from personal crisis.
This article was produced in partnership with Local Progress, a network of progressive local elected officials, to highlight some of the bold efforts unfolding in cities across the country.
In early 2015, the owner of Mercado’s apartment complex increased tenants’ rent by as much as $200. It was frightening, she says. Many of the resident families made only minimum wage and couldn’t absorb the new costs. After an organizing drive and a partial rent strike, the increase was rolled back, but not completely. Mercado, who has worked at Chuck E. Cheese’s and as an office janitor, says she was forced to find additional income. Doing so meant she spent less time with her daughter.
“I am involved because of what we went through,” she says. “Because it is unjust what they did to us.” She wants rent control so her family “won’t have to worry about the rent suddenly going up again.”
At a time when the real-estate market is aflame with speculation, Richmond residents like Mercado are revitalizing tenants’-rights activism in the Bay Area. And they are no anomaly. On November 8, the small cities of Alameda, Mountain View, Burlingame, and San Mateo will also vote on ballot initiatives that could establish rent and eviction controls of varying stringency. Landlords, led by the powerful California Apartment Association (CAA), are determined to snuff out these efforts, and they have spent serious money on a counter-campaign. The initiatives, after all, could be the beginning of something significant. The state’s once-vibrant tenants’ movement, dormant for decades, finally seems ready to return to California politics and put its power on display.
Richmond’s rent-control drive comes in the midst of one of the most crushing affordable-housing crises in Bay Area history—a disaster comprised of cratering post-recession home-ownership rates and rocket-fueled rent increases, suspicious arsons and mass evictions, breakneck gentrification, and sprawling tent encampments huddled under highway overpasses. It started in Silicon Valley and San Francisco, where the tech boom first exploded, and soon seeped into surrounding cities like Oakland, Alameda, and others.
The dry data too suggest major social disruption. Since 2010, according to the San Francisco Chronicle, the average asking price of Bay Area rental units has increased by 66 percent, or approximately $1,000, to more than $2,500. San Francisco and San Jose are the two most expensive rental markets in the country, according to Zillow. Rent in Oakland, meanwhile, has spiked 71 percent in little more than three years.
People in Richmond also see the housing crisis coming their way, says Gayle McLaughlin, city councilwoman, former mayor, and Local Progress member. And they are determined to do something about it.
“Our residents are largely working-class, and our community cannot thrive and maintain itself with these kinds of rent increases,” says McLaughlin. “What I have seen happen and what will happen further is that people will be forced out—forced out of our city. They will be homeless, their kids will have to be taken out of schools, families will have to double up.”
McLaughlin’s political party, the Richmond Progressive Alliance (RPA), is well-known in the Bay for its bold policies and unlikely victories. It has waged high-profile electoral battles against Chevron, which owns a massive refinery in the city and is deeply involved in local politics. It has pushed for minimum-wage hikes and taxes on sugary drinks. It has vociferously resisted oil-by-rail shipments to regional ports. Now, as part of a broader community coalition, the RPA is fighting for rent control.
The RPA first pressed—and passed—a rent- and eviction-control ordinance in Richmond’s City Council in 2015, but it didn’t live long. The California Apartment Association torpedoed the law after rallying its troops, gathering signatures and using a petitioning procedure to block the ordinance’s implementation. RPA, and its partners, countered: They collected their own batch of signatures and got a rent-control initiative on this year’s ballot.
Because of state law, the initiative is constrained in scope. It will peg annual rent increases on units built before 1995 to the percentage increase of the Consumer Price Index, thus linking rent hikes to inflation. Any units built after that year will not be affected. The initiative also seeks to protect tenants from unjust eviction. If it passes, landlords will no longer be able to give tenants an eviction notice without cause. A rent board will be established to oversee enforcement.
Powerful people are opposed to the proposal, of course. Richmond Mayor Tom Butt has come out against it, calling it “poorly drafted.” The California Apartment Association meanwhile, is vigorously resisting the regional initiatives. According to Joshua Howard, a CAA senior vice president, the organization has spent at least $1 million on TV spots, radio ads, and the like to block rent control in the Bay Area.
“We want the voters to understand that we do face a crisis in Northern California and we do need to protect the diversity and character of our communities,” he says. “But these ballot measures do not address the underlying problem.” To truly fix the problem, he adds, more affordable housing must be built.
Gayle McLaughlin agrees with that last sentiment. New housing for “low-income and very low-income people” is desperately needed, she says. In the meantime, she argues that rent control will help clot the hemorrhaging of working-class residents. She also notes that rent regulation would be much more effective if California officials repealed the Costa-Hawkins Act of 1995, a landlord-backed state law that severely limits municipal authority over rent policy. The law bans rent control on buildings built after 1995, and also prohibits vacancy-control measures across the state, among other provisions.
In other words, if activists really want to make change it will have to take place at the state level. That, says Peter Dreier, an urban- and environmental-policy professor at Occidental College, will require a powerful tenants’-rights movement, like the one that thrived across the state in the 1970s.
“There’s a lot of anger and outrage about rising rents all over the state at the grassroots level, and there are a growing number of local groups trying to organize around it,” he says. “I would say the tenants’ movement is the sleeping giant of California politics.”
Thanks to relentless organizing in small cities like Richmond, the giant is starting to stir.
By Jimmy Tobias
Source
It’s Time to Reimagine Safety and Security in Our Communities
It’s Time to Reimagine Safety and Security in Our Communities
The over-policing and mass criminalization of Black and brown people is the moral crisis of our time.
The United States has the world’s largest incarcerated population with approximately 2....
The over-policing and mass criminalization of Black and brown people is the moral crisis of our time.
The United States has the world’s largest incarcerated population with approximately 2.2 million people currently behind prisons and jails (21 percent of the world’s prisoners) while several police departments across the country are under investigation for charges of police brutality, gross misconduct and civil rights violations.
Read the full article here.
City Council Holds First Hearings Today on "Municipal ID" Program in Council Chambers
FOR IMMEDIATE RELEASE:
April 30, 2014
Contact: TJ Helmstetter,...
FOR IMMEDIATE RELEASE: April 30, 2014 Contact: TJ Helmstetter, Center for Popular Democracy (973) 464-9224; tjhelm@populardemocracy.org Daniel Coates, Make the Road New York(347) 489-7085; daniel.coates@maketheroadny.org
City Council Holds First Hearings Today on "Municipal ID" Program in Council Chambers Advocates: Municipal IDs Will Benefit ALL New Yorkers & Provide Critical Services(NEW YORK) Earlier this year, Mayor Bill de Blasio and Council Speaker Melissa Mark-Viverito announced plans to make city-issued identification cards available for all New Yorkers, which would particularly help residents who otherwise have limited access to identification documents, including immigrants and homeless New Yorkers. Similar municipal ID programs are in place in ten cities nationwide, as noted in the Center for Popular Democracy's report, "Who We Are: Municipal ID Cards as a Local Strategy to Promote Belonging and Shared Community Identity." Today, the City Council held its first hearings on the bill introduced earlier this month. Advocates attended the hearing in support of the measure, which will improve interactions between residents and law enforcement, make cardholders less vulnerable to crime, and improve quality of life for the most vulnerable New Yorkers. Earlier today, U.S. Representatives Joe Crowley, Grace Meng, Jerry Nadler, and Nydia Velazquez have each signaled their support for the proposal. See below for quotes from advocates in support of the measure. Ana Maria Archila, co-executive director of the Center for Popular Democracy: “Municipal ID cards are an important step toward raising the quality of life for our city's most vulnerable and marginalized residents, including immigrants, and this proposal will make a powerful difference for thousands of New Yorkers. Increasingly, identification requirements gate-keep almost every aspect of daily life. It is imperative that we open more doors to opportunity for all New Yorkers, and this is a step in the right direction.”
Juan Carlos Gomez, member of Make the Road New York: "When I lost my ID I went into the shadows. I couldn't buy medicine for my allergies, couldn't rent an apartment, and was always scared about being stopped by the police. With a NYC ID I know thousands of other undocumented people like me will have more confidence to be a stronger part of this City."
Linda Sarsour, Executive Director, Arab American Association of New York: "All New York City residents regardless of immigration status deserve a government issued ID that gives them access to municipal buildings, bank accounts, and more. Government and the private sector need to come together to ensure that this ID has a broad appeal to ALL New Yorkers. This card should represent our New York City pride and everyone should want to get one." Steven Choi, executive director of the New York Immigration Coalition: "The New York Immigration Coalition is proud to stand behind the municipal ID initiative, because a more inclusive New York is a better New York! This inclusive identity card system will help overcome some of the barriers immigrant communities face in their daily lives, and should facilitate access for all New Yorkers to leases, libraries, discounts, municipal services, and more. We look forward to working with the Mayor, City Council, and our diverse Coalition members and allies to make it as useful as possible."
Anya Mukarji-Connolly, Supervising Attorney at NYLAG LGBT Law Project: “The LGBT Law Project at the New York Legal Assistance Group applauds Mayor de Blasio, Speaker Mark-Viverito, and City Council Members Dromm and Menchaca for spearheading this critically important bill that would help ensure that transgender and gender non-conforming New Yorkers have access to valid identification cards that accurately reflect their gender. Access to valid ID is particularly important for transgender communities who face discrimination, harassment, and violence when they don’t have accurate ID. For this opportunity to have the most impact in transgender communities, the process for selecting gender on the Municipal ID card must be one in which applicants can self-identify, without showing burdensome proof of gender through doctor's letters or medical treatment which make accurate ID cards inaccessible to many people.”
Elana Redfield, from the Sylvia Rivera Law Project: "The municipal ID is a great opportunity for transgender communities, especially transgender immigrants, to obtain ID documents that accurately reflect their gender. Mismatched Id is a source of many challenges for transgender community members. Showing a mismatched ID can lead to humiliation, harassment, workplace or housing discrimination, or denial of services. For the ID to be most effective, it must allow for individuals to self-select their gender rather than imposing medical requirements or other obstacles that cannot be met by our most vulnerable community members." Arely Gonzalez, Member of Make the Road New York LGBTQ project: "As an undocumented transgender woman I know how a lack of ID makes me feel. I need an ID that shows my gender and my name. I wouldn't carry around anything else, because we face discrimination from the police, and others as a result. The NYC ID would be very important to many transgender New Yorkers because of that. We should all be able to express our gender identity."
Alisa Wellek, Co-Executive Director, Immigrant Defense Project: "We are grateful for New York City's leadership in creating a municipal ID program that balances accessibility for all New Yorkers while also safeguarding privacy and the right to define one's gender. An ID can prove critical to de-escalating and preventing an arrest, which has particular importance for immigrants who are increasingly at risk of deportation when encountering police.This ID is the right step toward ensuring equal access to services and protections for all New Yorkers."
Jean Rice, Picture the Homeless member: "The status quo needs to create an identification document that is acceptable across all levels of inquiry, including the police department, that is standardized and not discretionary."
Grace Shim, Executive Director of the MinKwon Center for Community Action: "An estimated 180,000 undocumented Asian Americans live in the New York metro area. We are excited by the potential of the Municipal ID card to make our City more inclusive and accessible for all. In order to ensure that the card does not become a proxy for immigration status, however, the City must broadly market the adoption of this card to all New Yorkers. From discounts to cultural institutions and financial service capabilities, the City should explore many creative ideas for integration."
José Calderón, President of the Hispanic Federation: "Hispanic Federation thanks Mayor de Blasio, Councilmembers Dromm and Menchaca for their leadership and making it a top priority for all New Yorkers to have access to proper identification. This municipal ID will not only provide a sense of security for all New Yorkers, but will benefit our city as a whole. All of us - low-income individuals, seniors and undocumented immigrants - deserve easy accessibility to identification, heightening safety and equality in our great city." Jesus Castellanos, Make the Road New York youth member: "When I was assaulted I did not want to tell the police because I was scared to approach them without an ID. It's not right that a young person like me should have to do this. A municipal ID will build trust and create a safer New York for all people." Rev. Omar Almonte, Central Baptist Church: "As a man of faith and a spiritual leader of an immigrant community, I firmly believe that this proposal for a New York City ID to help document the undocumented, would be a just and righteous act, because it would strengthen our community. They and their families live, work, study and are crucial parts of our city now and in the future, and this law would create a fairer, more just place for us all."
Fr. Hoppe Pastor of St. Leo Catholic Church: "As people of faith, we believe that having valid identification for all New Yorkers will offer renewed hope and human dignity to those who have struggled far too long. In my congregation, I witness the daily pain of mothers unable to bring their children to school for fear of being deported. We fully support this initiative to provide a pathway to all New Yorkers to have the same access to economic and civic opportunities in our city.”
Lucia Gomez, La Fuente Executive Director: “This is a very historic time for the city, municipal IDs will serve nearly half a million residents (including immigrants, the homeless, low-income and the elderly). It will protected our value for inclusion and will be consistent with our security needs. We stand committed to work with the city council to see the bill pass implemented in the upcoming months.”
Valeria Treves, executive director NICE: “A NYC municipal ID is a step in right direction to becoming a city that truly recognizes the contributions of all of the city’s residents, including the city’s undocumented workers and families. We must now work to ensure that it's easily accessible to all immigrants and others who face challenges attaining an ID, and work closely with key departments, such as the NYPD, to ensure that officers recognize the card as valid ID and respect the rights and dignity of the card holder.”
Activists Protest Universities Over Investments In Puerto Rico Bondholders
Activists Protest Universities Over Investments In Puerto Rico Bondholders
A coalition of social and economic justice groups has launched a one-week campaign to end what they view as problematic university investments. The New York-based Center for Popular Democracy (CPD...
A coalition of social and economic justice groups has launched a one-week campaign to end what they view as problematic university investments. The New York-based Center for Popular Democracy (CPD) and partner organizations including three Make the Road branches will hold six protests along the East Coast, calling on Columbia, Harvard and Yale to pull their investments out of hedge funds that hold Puerto Rican debt and have advocated austerity measures in the U.S. territory, leading to mass school closings and higher tuition costs.
Read the full article here.
KKR, Bain Create $20 Million Fund for Toys ‘R’ Us Workers
Toys “R” Us shuttered its last stores at the end of June and its liquidation left more than 30,000 workers without expected severance payouts. That prompted months of lobbying by the employees,...
Toys “R” Us shuttered its last stores at the end of June and its liquidation left more than 30,000 workers without expected severance payouts. That prompted months of lobbying by the employees, organized in part by advocacy groups linked to the Center for Popular Democracy. Those groups estimate that workers are owed $75 million in severance pay and they have pressed Toys “R” Us creditors Angelo Gordon and Solus Alternative Asset Management to contribute to the fund, but the hedge funds have so far declined.
Read the full article here.
Puerto Rican Families Displaced in Florida by Hurricane María Recruited as Potential Voters
Puerto Rican Families Displaced in Florida by Hurricane María Recruited as Potential Voters
The Summer for Puerto Rico campaign is spearheaded by Julio López Varona, the Director of Puerto Rico Diaspora Campaigns at the Center for Popular Democracy. He emphasized that the focus of the...
The Summer for Puerto Rico campaign is spearheaded by Julio López Varona, the Director of Puerto Rico Diaspora Campaigns at the Center for Popular Democracy. He emphasized that the focus of the campaign is on promoting political empowerment and literacy, by providing context on who are the lawmakers, and teaching communities about the effects of colonialism.
Read the full article here.
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