Falciani celebra que siete directivos del Santander declaren en la Audiencia Nacional por blanqueo
Falciani celebra que siete directivos del Santander declaren en la Audiencia Nacional por blanqueo
El ex informático del banco suizo HSBC, Hervé Falciani, que destapó los nombres de presuntos evasores fiscales en bancos helvéticos, ha celebrado que siete directivos del Banco Santander estén...
El ex informático del banco suizo HSBC, Hervé Falciani, que destapó los nombres de presuntos evasores fiscales en bancos helvéticos, ha celebrado que siete directivos del Banco Santander estén citados a declarar en la Audiencia Nacional por un delito de blanqueo de capitales, ya que, según ha dicho, "cada día hay ejemplos similares en otros países".
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US jobless claims at 40-year low: Is the labor market getting better?
The number of Americans applying for new unemployment benefits last week dropped to its lowest point in more than 40 years, signaling that the labor market may be stronger than many economists had...
The number of Americans applying for new unemployment benefits last week dropped to its lowest point in more than 40 years, signaling that the labor market may be stronger than many economists had predicted. But the positive labor numbers do not mean that wage stagnation for those workers who do have a job is likely to end anytime soon.
Initial jobless claims fell last week to a seasonally adjusted 255,000, which is the lowest level since November 1973, the Labor Department reported on Thursday.
Summer is a volatile time for reliable unemployment numbers because it is generally the season that some large car assembly plants close for annual retooling. Because such stoppages don't affect all companies, it's more difficult for the Labor Department to accurately adjust its numbers.
Even with that caveat, Thursday's report points to a growing downward trend of unemployment that indicates a strengthening labor market.
The four-week moving average, which is less subject to weekly fluctuations and a better measure of labor market trends, fell 4,000 to 278,500 last week. The average level of claims has been near that mark since early April.
The numbers are being released as the movement for raising the minimum wage gains ground nationally. With the federal minimum wage at $7.25 an hour, American cities including Seattle, San Francisco, and Los Angeles in the past year have moved to raise their minimum wages to $15 an hour.
On Wednesday, the District of Columbia authorized a petition drive that could put the $15-an-hour minimum wage on the ballot in November 2016 elections. At the same time, a New York panel recommended that fast-food workers at chain restaurants statewide have their wages raised to $15, a move widely expected to be approved by the state's acting labor commissioner.
But that doesn't mean you should immediately march into your bosses' office and demand a raise.
While job growth has picked up and unemployment is continuing its seven-year downward trend, it has not been matched by corresponding wage increases, indicating that the labor market is still predominantly skewed to employers and not workers. Wages have only risen about 2 percent during the past 12 months.
"As an economist watching the economy, we're somewhat surprised that wages pressures have been so muted to this point," IHS Economics senior director Jim Diffley told Reuters. "We do expect an acceleration and in fact think it necessary to continue the recovery."
According to the Economic Policy Institute in Washington, the majority of Americans have faced wage stagnation for the past 35 years, and it is a major factor the rise of family income stagnation and income inequality. Furthermore, the failure of wages to grow highlights gender and racial wage gaps.
United States Secretary of Labor Thomas Perez said that shifting wages out of its stagnation is still a major part of the “unfinished business” of the nation’s economic recovery from the Great Recession.
“The rising tide of this economic wind at our back has to lift more boats,” he told The New York Times.
Optimistic signs of labor market growth have been tempered with a note of caution from the Federal Reserve, which is monitoring labor market conditions, including wage stagnation, to determine whether to raise short-term interest rates.
”While labor market conditions have improved substantially, they are ... not yet consistent with maximum employment,” Fed Chairwoman Janet Yellen told members of Congress last week.
Labor groups are calling on the Fed to hold off on rate hikes and focus on pursuing full employment in order to boost both job and wage growth.
“Raising interest rates too soon will slow an already sluggish economy, stall progress on unemployment, and perpetuate wage stagnation for the vast majority of American workers. This harm will be disproportionately felt by women and people of color, who are concentrated in the most vulnerable strata of the workforce,” said a report released by the Center for Popular Democracy and a coalition of labor groups.
Source: Christian Science Monitor
Jeff Flake Explains Why He Called for a Delay on the Kavanaugh Vote
Jeff Flake Explains Why He Called for a Delay on the Kavanaugh Vote
As for Ana Maria Archila and Maria Gallagher, the women who confronted him in the elevator, Flake said their intervention was “poignant,” but that he believed “some of their concern was how...
As for Ana Maria Archila and Maria Gallagher, the women who confronted him in the elevator, Flake said their intervention was “poignant,” but that he believed “some of their concern was how Kavanaugh would rule on the court. They may have been there prior to the allegations against him because of his position on some issues.”
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Groups demand 'responsible' contractors at Brooklyn Bridge Park
Brooklyn Daily Eagle - April 23, 2014, by Mary Frost - City officials and workers' advocates kicked off three weeks of action at Brooklyn Borough Hall on Tuesday, demanding safer working...
Brooklyn Daily Eagle - April 23, 2014, by Mary Frost - City officials and workers' advocates kicked off three weeks of action at Brooklyn Borough Hall on Tuesday, demanding safer working conditions and better training at real estate development sites.
Two construction workers have died in the past month and several were injured at construction sites in New York City lacking state-approved training and apprenticeship programs, according to a coalition made up of Build Up NYC, the Center for Popular Democracy, the New York Committee on Occupational Safety and Health, and Public Citizen.
Build Up NYC President Gary LaBarbera and NYC Public Advocate Letitia James singled out Starwood Capital Group, developing condos and a hotel in Brooklyn Bridge Park, for allegedly using irresponsible sub-contractors.
They also targeted the Kushner Companies, developing the Watchtower properties in DUMBO, for refusing to come to terms with advocates' demands.
“Responsible development begins with jobs," said LaBarbera. "Starwood has not used responsible contractors or subcontractors on its Pier 1 development in Brooklyn Bridge Park. The Kushner Companies, the developer of the Watchtower properties have not made a commitment to use responsible contractors for all of the construction, operations, maintenance or security work for their big project.”
At a Starwood construction project in Manhattan, Stella Tower going up at 435 W. 50 St., two workers were injured in the past two months, La Barbera said.
Kushner plans to redevelop the Watchtower properties into a mixed-use high-tech campus, with at least 50 percent office space. Build Up NYC says, however, that Kushner "has refused to commit to hiring only responsible construction, operations and maintenance contractors who provide industry standard wages, benefits and training for all phases of this project including the $100 million renovation."
"The developers have not made any committment to create good jobs for Brooklyn residents with these projects," Public Advocate James said. "Brooklyn needs good jobs, real affordable housing, and a strong midddle class. Starwood and Kushner have benefited -- it's now time that Brooklyn residents benefit as well."
At the rally, the Center for Popular Democracy handed out copies of a report, “Developing Progress: Ensuring that public resources contribute to New York equity, resilience and dynamic democracy.”
The report focuses on the development projects at Brooklyn Bridge Park, where organizers want investors to review Starwood Capital Group’s performance in light of accusations that Starwood has partnered on the project with a general contractor that has "a history of dangerous practices, illegal behavior and faulty construction."
While the city and state pension funds, which have invested in the project, have Responsible Contractor Policies that require fair wages and benefits, Starwood has hired subcontractor Hudson Meridian, with a long history of noncompliance and a trail of lawsuits, according to the study.
The Center wants the city to institute safety and pay policies into its upcoming Request for Proposals for Pier 6, and recommends that penalties for violations be raised.
The group plans several events, including a vigil for workers on Thursday, April 24, at 6 p.m, at Walker Tower, 212 West 18 Street in Manhattan.
Requests for comments from Starwood and Kushner were not answered by press time.
Source
Do Hedge Funds Make Good Neighbors?
Nearly eight years after the start of the global financial crisis, hedge funds and private equity firms have...
Nearly eight years after the start of the global financial crisis, hedge funds and private equity firms have found yet another way to make big profits: distressed housing assets. Often, the very same corporate actors that precipitated the housing crash in the first place are buying and selling off delinquent mortgages and vacant houses that are a product of the crash.
Together, these Wall Street entities have raised over $20 billion to buy the notes for as many as 200,000 homes in the United States. The newly consolidated single-family rental market is a lucrative business. A 2014 study estimated that the four largest holders of these assets have seen as much as a 23 percent rate of return on the properties they purchased in the last three years.Meanwhile, low-income communities of color across the country have suffered. Millions of Americans lost all the equity in their homes or experienced the hardship of foreclosure during the housing crisis and have not recovered from losing their greatest source of wealth.
This new report, co-authored by CPD and the ACCE Institute, reviews the track record of the HUD and FHFA single-family loan sale programs. It explores the troubling record of four of the top buyers of the loans, corporations who are benefitting from the way the loan sales are currently conducted.
Read the report here
How Twitter vaulted 'Abolish ICE' into the mainstream
Ana Maria Archilla the co-executive director of Center for Popular Democracy, said that at first progressives "were worried about the political implications."
But "when Randy could say it...
Ana Maria Archilla the co-executive director of Center for Popular Democracy, said that at first progressives "were worried about the political implications."
But "when Randy could say it in rural Wisconsin, in Paul Ryan, territory,” she continued, activists felt they had made a breakthrough.
Read the full article here.
Three profs arrested at D.C. protest
Three Yale professors were arrested in Washington, D.C., on Wednesday for engaging in civil disobedience in support of immigrant rights.
On Wednesday, over 10,000 people rallied at Upper...
Three Yale professors were arrested in Washington, D.C., on Wednesday for engaging in civil disobedience in support of immigrant rights.
On Wednesday, over 10,000 people rallied at Upper Senate Park in Washington in support of the Development, Relief and Education for Alien Minors Act, or DREAM Act. Three University professors — Alicia Camacho, Zareena Grewal and Daniel HoShang — were among more than 180 protesters who were arrested after the two-hour protest for “crowding, obstructing or incommoding” by sitting on the steps leading to the U.S. Capitol.
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Activists Call on Fed Chief to Focus on Struggles of Citizens
The China Post - November 16, 2014 - In a rarity for a U.S. central bank chief, Federal Reserve Chair Janet Yellen met Friday with activist groups calling for a...
The China Post - November 16, 2014 - In a rarity for a U.S. central bank chief, Federal Reserve Chair Janet Yellen met Friday with activist groups calling for a fairer economic recovery and a more transparent Fed.
About 20 representatives of community and labor organizations met with Yellen for an hour in the meeting room of the policy-setting Federal Open Market Committee, the activists said.
The groups were banded together as “Fed Up: The National Campaign for a Strong Economy,” lobbying Yellen and her team to orient Fed policy to boost employment and wages.
In addition to Yellen, Fed Vice Chairman Stanley Fischer and board members Lael Brainard and Jerome Powell participated in the meeting.
“We had a very good conversation,” said Ady Barkan, representing the Center for Popular Democracy.
The activists presented their views about conditions in the economy to the Fed officials and “they listened very carefully,” Barkan said.
Yellen “asked people questions about their personal experiences in the economy,” he added.
The coalition gave the Fed officials a list of six proposals to make the central bank more transparent and democratic.
“The economy is not working for the vast majority of people,” Barkan said.
“The Federal Reserve has huge influence over the number of people who have jobs, over our wages ... and yet we don't have discussion and engagement over what Fed policy should be.”
Wearing T-shirts emblazoned with “What recovery?” the activists criticized the Fed's isolation from the general public.
“Our wages are on a flat line for 30 years,” said Anthony Newby, director of Minnesota Neighborhoods Organizing for Change, which wants the Fed to give interest-free loans to cities so they can create jobs in infrastructure projects.
With two regional Fed bank presidents preparing to step down — Charles Plosser for the Philadelphia Fed and Richard Fisher at the Dallas Fed — the coalition is pressing for a transparent process for selecting their successors.
The Philadelphia Fed said on its website Friday that the executive search firm it hired has set up an email address to receive inquiries in the interest of helping the bank “in a broad search for its next president.”
“Philadelphia has hovered around eight percent unemployment for all of 2014; in the black community it's over 14 percent,” said Kati Sipp, head of Pennsylvania Working Families and a “Fed Up” activist.
“We want the Fed to spend some time in the neighborhoods where regular working people live.”
Source
Coalition Plans to Press Senate Candidates to Back Minimum Wage Rise
Coalition Plans to Press Senate Candidates to Back Minimum Wage Rise
The minimum wage has already been an issue on the presidential campaign trail. Now, three national progressive groups plan to use it to pressure Senators in tight races to back higher wages or...
The minimum wage has already been an issue on the presidential campaign trail. Now, three national progressive groups plan to use it to pressure Senators in tight races to back higher wages or face a backlash on election day.
The Working Families Organization, the National Employment Law Project Action Fund, and the Center for Popular Democracy Action Fund are teaming up with grassroots organizations in seven battleground states to educate voters about where lawmakers stand on a policy they say can help low-wage workers and the economy.
They also plan to pressure candidates who have opposed higher minimum wages or who haven’t picked a side. In the coming weeks, they are planning a series of actions they hope will influence swing voters, drive voters to the polls, and shame lawmakers into advocating for higher pay floors.
“There’s unprecedented momentum this year for raising the minimum wage. Voters are hungry for leaders who’ll take a strong stand in raising wages and frustrated with their Republican majorities in Congress,” said Paul Sonn, a spokesperson for the National Employment Law Project Action Fund.
While the focus is on Senate races, “partners in this effort are educating voters on where candidates for office from president down to city councilperson stand on raising wages,” said Mr. Sonn, who added that Hillary Clinton is a strong supporter of raising the federal minimum wage while Donald Trump “has been all over the map.”
With control of the Senate hanging in the balance after Republicans won the majority in 2014, the groups are betting minimum wage could be a pivotal issue in key races in Pennsylvania, Missouri, Wisconsin, Ohio, Arizona, New Hampshire, and North Carolina. They are in the process of scheduling protests outside of Senate debates, arranging door-to-door canvassing, organizing candidate forums and town halls and doing polling on the issue. Another tactic they plan: inviting candidates to spend a day shadowing a low-wage worker on the job, and possibly exposing those who won’t do it.
Republicans are defending 24 Senate seats this November, while Democrats are defending 10. Democrats need to win at least five net seats to gain back control from Republicans, or four if Hillary Clinton wins the White House and Tim Kaine is elected vice president and can break tied Senate votes.
Some of the lawmakers the groups plan to target because of the lack of support they’ve shown for higher minimum wages are Arizona Republican Sen. John McCain, who is in a contest against Democratic Rep. Ann Kirkpatrick, and Missouri Republican Sen. Roy Blunt, challenged by Democrat Jason Kander.
In Pennsylvania, GOP Sen. Pat Toomey could feel some heat from the groups in his race against Democrat Katie McGinty, who has repeatedly called for raising the federal minimum wage. And in Wisconsin, they will target Republican Sen. Ron Johnson in his contest with Democrat Russ Feingold, who has made raising the minimum wage a pivotal part of his campaign.
Marina Dimitrijevic, the state director of the Wisconsin Working Families Party, one of the grassroots groups involved, said the organization plans to bring a crowd to a mid-October debate between Sen. Johnson and Mr. Feingold. It will also invite Mr. Johnson to a roundtable discussion about raising minimum wages.
“I hope he comes and listens,” she said.
The federal minimum wage is $7.25 an hour, and leading Democrats in Congress have gained no traction on bills to increase it. Pay floors have been rising in cities and states instead to as high as $15 an hour.
Hillary Clinton has said she supports a $12 federal minimum wage but thinks states or cities should be allowed to set higher rates if they have local support. She has stopped short of backing the $15 federal minimum many unions and other left-leaning groups are calling for, but she has won many of their endorsements nonetheless.
Donald Trump has wavered on the issue, saying last year that wages were “too high,” then saying this year that he would like to see an increase in the minimum wage. He recently called for a $10 federal minimum, though he said the states should really call the shots.
By MELANIE TROTTMAN
Source
Peralta pushing to pass Carlos’ Law
“Citing a 2013 report by the Center for Popular Democracy, Peralta said that between 2003 and 2011, three out of four victims in fatal construction accidents in the United State were immigrants or...
“Citing a 2013 report by the Center for Popular Democracy, Peralta said that between 2003 and 2011, three out of four victims in fatal construction accidents in the United State were immigrants or U.S.-born citizens of Latino heritage.“Among the cases investigated by [the U.S. Occupational Safety and Health Administration] in New York state that number is 60 percent,” Peralta said. “In New York City it’s 74 percent. And in Queens it’s 88 percent.
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