Puerto Rico is on Track for Historic Debt Forgiveness -- Unless Wall Street Gets its Way
Puerto Rico is on Track for Historic Debt Forgiveness -- Unless Wall Street Gets its Way
For bondholders sitting on Puerto Rican debt, Hurricane Maria may have come just when they needed it, just as a yearslong battle over the fate of the island’s financial future was beginning to...
For bondholders sitting on Puerto Rican debt, Hurricane Maria may have come just when they needed it, just as a yearslong battle over the fate of the island’s financial future was beginning to turn against them. Or, depending on how the politics shake out, they could see their entire bet go south.
Read the full article here.
The First Time Maria Gallagher Talked About Her Sexual Assault, It Was to Senator Flake
The First Time Maria Gallagher Talked About Her Sexual Assault, It Was to Senator Flake
The Senate Judiciary Committee has officially voted to move Brett Kavanaugh's Supreme Court nomination forward. However, Sen. Jeff Flake has requested an FBI investigation take place before the...
The Senate Judiciary Committee has officially voted to move Brett Kavanaugh's Supreme Court nomination forward. However, Sen. Jeff Flake has requested an FBI investigation take place before the full Senate votes on Kavanaugh's confirmation, something Republican leaders have now agreed to, per The Hill.
Read the article and watch the video here.
Massive Fraud In PA Charter Schools Under Corbett's Leadership
Crooks and Liars - October 2, 2014, by Karoli - What could $30 million lost dollars mean to students in Pennsylvania? Maybe more teachers, more textbooks, better classrooms? Well, forget about it...
Crooks and Liars - October 2, 2014, by Karoli - What could $30 million lost dollars mean to students in Pennsylvania? Maybe more teachers, more textbooks, better classrooms? Well, forget about it, because at least that much is in the pockets of corrupt charter school operators.
The waste and fraud in Pennsylvania charter schools is even worse than I thought. It was bad enough when Nicholas Trombetta created a nice pyramid to skim off millions in public education money to fund his own fun, but it seems he was more the rule than the exception.
Philly.com:
The instances of fraud cited in the new report include cases where charter officials were indicted or pleaded guilty and instances uncovered in state audits.
Examples include Nicholas Trombetta, founder and former CEO of the Pennsylvania Cyber Charter School in Midland, who is awaiting federal trial in Pittsburgh on charges that he diverted $8 million in school funds for personal use.
The tally also includes $6.3 million that federal prosecutors allege Dorothy June Brown defrauded from the four Philadelphia-area charters she founded.
But the authors give special attention to another recent case involving a city charter: New Media Technology Charter School in the city's Stenton section. The former CEO and founding board president went to federal prison in 2012 after admitting they stole $522,000 in taxpayer money to prop up a restaurant, a health-food store, and a private school they controlled, and for defrauding a bank.
From 2005 to 2009, when the crimes were occurring, third-party auditors hired by New Media failed to spot the fraudulent payments.
"Fraud detection in Pennsylvania charter schools should not be dependent upon parent complaints, media exposés, and whistle-blowers," the authors wrote. Rather, they urged, the system should be proactive and use forensic accounting methods.
But that would mean Tom Corbett couldn't make his sweet deals with the charter operators! Perish the thought.
What we have here is the sale of our public schools by Republicans to for-profit concerns who are perfectly content to take taxpayers' money to pad their own bottom lines while making sure our children 'isn't learning.'
Source
Pagaría el Gobierno de NY abogados a ilegales en juicios de deportación
Vanguardia – July 19, 2013 - Nueva York planea pagar abogados de oficio a los migrantes que se encuentren en una corte de migración y enfrenten la deportación.
Algunos migrantes con o sin...
Vanguardia – July 19, 2013 - Nueva York planea pagar abogados de oficio a los migrantes que se encuentren en una corte de migración y enfrenten la deportación.
Algunos migrantes con o sin papeles en la ciudad que enfrenten la expulsión de EU podrán a partir de finales de este año o 2014 presentarse frente al juez de migración con un abogado de oficio pagado con fondos municipales, reduciendo así sus posibilidades de ser deportados porque ya no estarán solos en la corte.
Activistas, un Magistrado federal y funcionarios locales planean anunciar el viernes que la ciudad ha destinado 500 mil dólares a financiar un programa piloto que ofrecerá representación legal a migrantes.
Brittny Saunders, de la organización Center for Popular Democracy, dijo que esta es la primera vez que un programa así se implementa en una municipalidad de EU.
“La intención que tenemos a través de este programa piloto es lograr información sobre los beneficios que la representación legal supone tanto para un individuo en detención y enfrentando la deportación como para su familia, su comunidad y la ciudad entera’’, dijo Saunders.
“Esperamos que este programa sea un modelo para otras comunidades alrededor del país’’.
Migrantes que acaban en las cortes de migración y que enfrentaban la deportación no tienen derecho a ser defendidos por un abogado de oficio. Pueden contratar a un abogado privado pero muchos migrantes no tienen el dinero para pagar por ese servicio. Es por ese motivo que la ciudad, varios activistas y un juez federal interesado en el tema llamado Robert Kaztmann han unido esfuerzos para ofrecer ayuda a migrantes en esta situación.
Saunders dijo que en el Estado de Nueva York una media de 2 mil 800 migrantes se encuentra anualmente en proceso de deportación sin acceso a asistencia legal.
Source
Rep. Blanc arrested, then released following D.C. demonstration
Rep. Blanc arrested, then released following D.C. demonstration
Blanc was in Washington participating in a sit-in along with advocates from Living United For Change in Arizona, or LUCHA, and national groups like United We Dream and Center for Popular Democracy...
Blanc was in Washington participating in a sit-in along with advocates from Living United For Change in Arizona, or LUCHA, and national groups like United We Dream and Center for Popular Democracy. The groups demanded that Congress pass a comprehensive immigration reform bill protecting the more than 700,000 young undocumented immigrants protected under the Deferred Action for Childhood Arrivals program or DACA.
Read the full article here.
At Least 32 Arrested During May Day Rally in New York City
To the wide range of advocates for an ever widening group of causes, this May Day was instead about unified resistance.
Read full article here.
Retailers Discover That Labor Isn't Just a Cost
For the past couple of decades, retailing in the U.S. has -- with some notable exceptions -- been a vast experiment in minimizing labor costs.
At the 2009 annual...
For the past couple of decades, retailing in the U.S. has -- with some notable exceptions -- been a vast experiment in minimizing labor costs.
At the 2009 annual convention of the National Retail Federation, though, Charles DeWitt noticed the beginnings of a shift. "Retailers started coming up to me and saying, 'We can't get any more out of this cost stone,'" recounted DeWitt, vice president of business development at workforce-management-software maker Kronos.
Since then, this change in attitude has become the stuff of business headlines. Most notably, Wal-Mart, the retailer that set the cost-cutting tone in the 1990s, has been raising wages and spending more on training. There's surely a cyclical element at work here -- as the unemployment rate drops, it's harder for retailers to find workers. There's also a political element -- bad press and minimum-wage campaigns must have some effect on corporate behavior.
But the really intriguing possibility is that retailers, in their technology-driven rush to optimize operations during the past two decades ("rocket science retailing," one Wharton School operations expert dubbed it) were actually failing to optimize labor. Their systems measured it only as a cost, and didn't track the impact of low wages, part-time work and unpredictable work schedules on sales and profits. Now some retailers are trying to fix that.
One big set of targets are the scheduling systems that have allowed retailers to ever-more-closely match staffing to customer traffic, but in the process wrought havoc with many workers' lives by making their schedules so unpredictable. Jodi Kantor gave a face to this last year with a compelling New York Times account of the chaotic life of a single-mom Starbucks barista.
Kronos supplies Starbucks' scheduling software, and DeWitt was quoted in the Times article describing its workings as "like magic." So it was a little surprising to see him on stage last week at O'Reilly Media's Next:Economy conference, nodding pleasantly and occasionally chiming in as a Starbucks barista, a labor activist and a journalist described the horrors inflicted by scheduling software.
When I told him afterward that I was surprised he wasn't more defensive, DeWitt said, "I'm more of a math guy, an optimization guy. This is a parameter to be optimized." It's also a business opportunity. "We are in early-stage investigations with very big customers," DeWitt went on. "The plan is to go in and suck all these things out of the database and work with them to customize metrics."
The idea is to figure out how dynamic scheduling and other labor practices affect metrics such as absenteeism, turnover and sales. Right now a lot of retailers just don't know. Carrie Gleason, director of the Fair Workweek Initiative at the Center for Popular Democracy and the labor activist who shared the stage with DeWitt, recalled a conversation she had with an executive at a big retailer at last year's National Retail Federation convention. "I said, 'These schedules cost you in terms of turnover.' She said, 'I’m in operations. That’s HR.'"
That's not true everywhere. Here's Stuart B. Burgdoerfer, chief financial officer of L Brands, the retailer that includes the Victoria's Secret and Bath & Body Works chains, speaking at the company'sannual investor day this month:
As we looked at the data, we just had too many people working too few hours per week. And the trouble with that or the opportunity with that is how well can they really know your business, how invested are they in us, or we in them, if they're only working a few hours per week and their turnover rate is very high?
And so we see the opportunity to have a more knowledgeable, more engaged, more effective and productive associate. When she's working, typically she is working more hours per week. So that's the opportunity. And we think it's a significant one. Really do.
Recent academic work backs this up, to a point. Researchers such as University of Chicago social psychologists Susan Lambert and Julia Henly and Pennsylvania State University labor economist Lonnie Golden have been documenting the extent and social costs of irregular scheduling. Meanwhile, operations experts at business schools have been trying to identify labor practices that maximize sales and profits.
The best known of these is probably the "good jobs strategy" outlined by Zeynep Ton of the Massachusetts Institute of Technology, first in a2012 Harvard Business Review article and then in a 2014 book. Ton studied low-cost, high-wage retailers such as Costco, Trader Joe's, Oklahoma-based convenience-store chain QuikTrip and Spanish supermarket chain Mercadona and concluded that they operated in a virtuous cycle in which highly trained, autonomous, full-time employees working with a limited selection of products drove high performance.
There's a tendency, upon hearing accounts such as Ton's (she also spoke at the Next:Economy conference), to wonder why every retailer doesn’t do that. One reason is that the limited-selection approach can't work for everybody. Another is that, as my Bloomberg View colleague Megan McArdle wrote last year, if every retailer paid like Costco, many of Costco's labor advantages would disappear. And finally, while some retailers surely have hurt themselves in their zeal to optimize labor, the move away from full-time retail jobs and toward staffing that's closely matched to customer demand hasn't been totally irrational.
In one recent study, Saravanan Kesavan, Bradley R. Staats and Wendell Gilland of the University of North Carolina looked at labor practices at a large (unidentified) retail chain. Their hypothesis was that the use of temporary and part-time workers would be linked with per-store sales in an inverted U-shaped curve -- with sales at first rising as the percentage of temps and part-timers rose, but eventually falling.
The data backed them up. To maximize sales, the optimal share of temp workers was 13 percent and part-timers 44 percent. But those percentages were both higher than the retailer's current averages of 7 percent and 32 percent. Overall, hiring more part-timers and more temps was likely to lead to higher sales.
The data-driven reexamination of labor practices by big retailers will surely lead to some improvements in how workers are treated and paid. I don't get the impression that, by itself, it will lead to all retail jobs becoming good jobs.
Source: Bloomberg
Fatal Construction Accident Shows Higher Risks Faced by Latino Workers
Truthout - March 31. 2015, by Danica Jorden - Monday morning, March 23, 2015, in Raleigh, North Carolina, was a mild and slightly overcast day. The first signs of spring were beginning to emerge...
Truthout - March 31. 2015, by Danica Jorden - Monday morning, March 23, 2015, in Raleigh, North Carolina, was a mild and slightly overcast day. The first signs of spring were beginning to emerge after an uncharacteristically chilly winter for the capital of the Southern state. But the recent cold weather had hardly hampered the construction of several high-rise office and condo projects, unprecedented for the generally low-rise city.
The 12-story Charter Square was one such project, and on March 23, just before 11 am, workers were busy on its south wall, with two mast climbers attached to its all-glass surface. Mast climbers are a scaffolding device employing a thin, central steel column stuck to the side of a structure, along which a horizontal platform that ferries workers up and down, so that they can install the glass panels future occupants will gaze from when the building is finished. On this day, the mast climbers were to be dismantled, with the building scheduled for opening in May.
About halfway up, the mast suddenly peeled off the side of the building, sending José Erasmo Hernández, José Luis López Ramírez and Anderson Antones de Almeida to their deaths, and Elmer Guevara to the hospital in serious condition. The four men were working for a tangled web of contractors and subcontractors, and the Department of Labor's representative on the scene said that contractors themselves inspect mast climbers, which are not specifically regulated by the state.
North Carolina Occupational Safety and Health's Kevin Beauregard indicated that OSHA, the federal agency, also does not have specific guidelines regarding mast climbers. He added that he did not expect to find that the scaffolding had been previously inspected. "There's no possible way our inspectors can go to every site,"Beauregard said. "We have over 200,000 work sites in North Carolina. We have approximately 75 to 100 inspectors employed. So it's physically not possible to go to every single site."
(Photo: Danica Jorden)
2014 was the North Carolina construction industry's most deadly year, according todata from the state Department of Labor. Nineteen people lost their lives working in construction in 2014, or 43 percent of the 44 work-related deaths statewide. Falls accounted for 13 of those deaths. The death rate was nearly double that of 2013.
According to the Bureau of Labor Statistics, Latinos are overrepresented in the construction industry, holding 24 percent of all construction jobs. But visits to construction sites in North Carolina reveal that Latinos are far more present at the front lines: scaling walls, down in holes and operating dangerous equipment. A closer look at the statistics shows that Latinos make up only 14 percent of first-line supervisors and 9 percent of managerial positions. Furthermore, BLS statistics show that from 2010 to 2013, fatalities for Latino construction workers rose 20 percent, while during the same period, deaths for non-Latinos fell.
In 2013, the AFL-CIO published a report on Latinos in the construction industry in New York. "A disproportionate number of Latinos and immigrants are disproportionately killed in fall accidents in New York, according to a new study by the Center for Popular Democracy, because they work in construction in relatively high numbers; are concentrated in smaller, nonunion firms; and are over-represented in the contingent labor pool," according to the report.
In New York, skyscrapers have been around for more than a century, and laws were written to regulate the construction industry and protect workers high up in the sky. The longstanding Scaffold Law was enacted in 1885, but is recently under attack. Construction companies have been working hard to amend it, saying it is one-sided in not protecting the industry from workers' own negligence. According to a 2013New York Times article:
They argue that the law is antiquated and prejudicial against contractors and property owners, and essentially absolves employees of responsibility for their own accidents, leading to huge settlements. The payouts, they contend, have in turn led to skyrocketing insurance premiums that are hampering construction and the state's economic growth.
But also in 2013, industry publication Durability + Design conversely reported that the industry had just been successful in reducing its penalties regarding a significant 2009 mast climber accident that resulted in fatalities.
Nearly five years after three EIFS applicators fell to their deaths from a high-rise construction site in Austin, TX, a judge has ordered the scaffolding company in charge to pay $17,150 in fines. Mast Climber Manufacturing Inc. d/b/a American Mast Climbers, of Whitney, TX, contested the 2009 citations (eight serious, one willful) issued for safety hazards after the accident. The penalties originally totaled $86,800. In the Jan. 29 ruling, Administrative Law Judge Ken S. Welch affirmed the willful violation and two serious violations involving lift equipment set up at the site. The parties agreed to settle three serious violations, and the judge vacated the rest.
In right-to-work North Carolina, people in general have more limited recourse in the workplace and the courts, and immigrants may be at a distinct disadvantage when asserting their rights. A 2012 study entitled "Employer provision of personal protective equipment [PPE] to Latino workers in North Carolina residential construction" states its "results suggest that the residential construction subsector generally fails to provide [Latino] workers with PPE at no cost, as is required by regulation."
Working side by side on a narrow platform high above the street on March 23, the men who lost their lives and their injured companion worked for at least three different companies. Brazilian Anderson Almeida and Elmer Guevara from El Salvador worked for Associated Scaffolding and Equipment, while José Hernández of Honduras and José Luís López from Mexico worked for Juba Aluminum/ Janna Walls and Kea Contracting. These subcontractors were employed by the site's general contractor, Choate Construction. The property is owned by Dominion Realty.
According to the Southern Poverty Law Center (SPLC), using multiple subcontractors is a way to hide worker abuse as well as shield companies from culpability.
[W]orkers who try to stand up for their rights often find themselves frustrated by multiple layers of subcontractors and middlemen - an arrangement that seems designed to insulate corporations at the top from accountability for the mistreatment of workers. The same phenomenon was seen repeatedly in New Orleans with contractors working to clean up the city after Hurricane Katrina.
In a federal ruling, the SPLC won a case against Del Monte on behalf of agricultural workers, successfully arguing that "... the labor contractor and the workers were really employees of the Del Monte subsidiary and that the company was indeed responsible for any wage abuses that could be proven. The federal ruling was an important milestone for workers, but the fact remains that most Latino farmworkers in the South have little or no access to legal representation."
Speaking to television news station Notícias 40 in Durham, Olvia López tearfully explained that her husband José Luís, father of their three children, had expressed fear about the conditions at his job, but felt he had no choice but to go to work. The station also indicated that José Hernández leaves behind a wife and two young children who depend upon him in Honduras, where he had intended to return in November, while Anderson Almeida had a partner, child and stepchild. The family of Elmer Guevara has instructed the hospital to withhold information about their loved one at this time.
In a growing memorial, a cardboard sign erected near the Charter Square buildingread, "While we run from a corrupt government, we put our lives on the line in the chase of the American dream. RIP fellow dreamers."
It may have been placed by the NC Dream Team, made up of Dreamers, like the brave Viridiana Martínez, Loida Silva and Rosario López, who held a hunger strike in 2010 not far from the site of the accident. After Viridiana qualified for the Dream Act, or DACA (Deferred Action for Childhood Arrivals), she went on to report from inside an immigration detention facility and helped identify and liberate women who were eligible for US residency. Dreamers are the children of immigrants who were born abroad but grew up in the United States and want to continue their education as Americans.
Source
Gillibrand Has Received Big Campaign Donations from Puerto Rico Bondholders
Gillibrand Has Received Big Campaign Donations from Puerto Rico Bondholders
“Politicians that receive money from hedge fund managers like Seth Klarman and Dan Loeb should understand that their money is coming from people who have pushed austerity and privatization as the...
“Politicians that receive money from hedge fund managers like Seth Klarman and Dan Loeb should understand that their money is coming from people who have pushed austerity and privatization as the solution to Puerto Rico’s humanitarian crisis,” Julio Lopez Varona, co-director of the Community Dignity Campaign with the Center for Popular Democracy, told Sludge. “This solution has proven to help the rich get richer and the poor get poorer while pushing hundreds of thousands to leave the island.”
Read the full article here.
THE $15 QUESTION: Higher minimum helps workers and business
Chicago Tribune - June 5, 2014, by Connie Razza - The Great Recession is over! So say the corporations and the wealthiest among us. For the rest of us, the so-called recovery doesn’t feel like...
Chicago Tribune - June 5, 2014, by Connie Razza - The Great Recession is over! So say the corporations and the wealthiest among us. For the rest of us, the so-called recovery doesn’t feel like much of one at all.
Corporate profits and stock prices have rebounded, but wages have not. Middle-class and low-income workers are still struggling to keep up with the cost of living. Corporate recovery has been fueled by the proliferation of jobs paying low wages.
How can we fix this? Raise the minimum wage.
That’s why Aldermen Proco “Joe” Moreno, Roderick Sawyer and John Arena have introduced an ordinance to raise the minimum wage for Chicago workers to $15 an hour, following a March advisory referendum in a small number of precincts that showed about 86 percent of Chicago voters support such a proposal.
If adopted, the $15 wage would initially apply only to workers at businesses with $50 million or more in annual receipts, and their subsidiaries and franchisees, while workers at smaller businesses would see the wage phased in over a multi-year period.
A new study by the Center for Popular Democracy, where I serve as director of strategic research, shows that the ordinance will increase income for 40 percent of all Chicago workers.
But what about job loss? Big business will say the higher wage will hurt the economy and force layoffs.
Not so.
Our study shows that an additional $1.1 billion would be passed to workers as take-home pay. Almost all of that money will travel through the local economy, generating an additional $616 million in new economic activity and creating 5,350 new jobs.
And there is precedent for these findings elsewhere: The payroll company Paychex and research firm IHS did a survey that found that Washington, the state with the highest minimum wage, also has the highest annual job growth.
Raising the wage isn’t just the right thing to do; it’s the smart thing to do. And although it may seem counterintuitive, the higher wage will help businesses grow. How?
Because too much inequality threatens economic growth and stability by limiting consumers’ ability to buy goods and participate in the marketplace. In other words, who will buy a new car if no one can afford to pay rent?
Unfortunately, the so-called recovery we’re in has been fueled largely by low-wage jobs replacing previously existing higher-wage jobs, further fueling inequality. In 2012, the Brookings Institute named Chicago the eighth most unequal city in the country.
Latinos and African-Americans make up disproportionate portions of the low-wage workforce, exacerbating racial and geographic disparities in the economy. Our study shows that a higher minimum wage will address these disparities by helping low-wage workers to participate more fully in the city’s economy as consumers, and help facilitate economic recovery in the neighborhoods where these workers live.
The current Illinois minimum wage is $8.25 an hour, a dollar higher than the federal minimum wage. Neither of these wage levels has kept pace with inflation or the cost of living, and both fall well below in purchasing power compared to the minimum wage in previous decades.
While the state and the federal government continue to ponder action, Chicago can’t afford to wait. The city is well positioned to take action, and join other cities, such as Seattle, San Francisco, and Washington, that are showing national leadership for urban America while Congress continues to stall.
More families than ever are relying on low-wage jobs to make ends meet. Let’s give them a fighting chance. Let’s make the economy work for all of us, not just the wealthy and the corporations.
Connie M. Razza is the director of strategic research at the Center for Popular Democracy, which gets funding from private philanthropy, community groups and labor organizations.
Source
2 days ago
4 days ago