JPMorgan Chase Is Funding and Profiting From Private Immigration Prisons
JPMorgan Chase Is Funding and Profiting From Private Immigration Prisons
One of America's largest banks, JPMorgan Chase, is quietly financing the immigration detention centers that have...
One of America's largest banks, JPMorgan Chase, is quietly financing the immigration detention centers that have detained an average of 26,240 people per day through July 2017, according to a new report by the Center for Popular Democracy and Make the Road New York. Through over $100 million loans, lines of credit and bonds, Wall Street has been financially propping up CoreCivic and GeoCorp, America's two largest private immigration detention centers.
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Immigration reform advocates rally in Lehigh Valley before heading to Washington, D.C.
Lehigh Valley Live - April 10, 2013 - Waving American flags and carrying handmade signs, Lehigh Valley residents and...
Lehigh Valley Live - April 10, 2013 - Waving American flags and carrying handmade signs, Lehigh Valley residents and workers rallied for immigration reform this morning in Salisbury Township. Speaking in Spanish, about 40 people chanted "What do we want? Justice! When? Now!" and shared stories of their experiences as undocumented immigrants living and working in the region.
The Lehigh Valley Campaign for Citizenship demonstration outside U.S. Sen. Pat Toomey's office included representatives from local labor unions and kicked off the group's bus trip to Washington, D.C. There, they'll meet with Pennsylvania's Congressional legislators -- Sens. Toomey, R-Pa., and Bob Casey, D-Pa., plus U.S. Rep. Charlie Dent, a Republican whose district includes parts of Northampton and Lehigh counties. They'll join thousands of other immigration reform advocates in a march on the Capitol.
A clear, short path to citizenship, the preservation of families, the protection of workers' rights and the rejection of measures that would increase deportation are all key components of comprehensive immigration reform, according to Max Cohen, a Center for Popular Democracy spokesman who helped organize today's event.
When Jasmine Leonor's father, Reyes Leonor, was arrested on unspecified charges, jailed and targeted for deportation to Mexico, she, her mother and siblings were left in limbo, the 16-year-old Liberty High School student said.
They didn't know when or if Reyes Leonor would be allowed to return home to run his business, El Mariachi Mini Market in Bethlehem, she said. The teen fought back tears as she described her family's fears during that time and their continued frustration with the system that led to his detainment.
Reyes Leonor avoided deportation and is back home, but said the experience motivated him to join the fight for immigration reform. He spoke passionately about how important it is for immigrants and others to step up and join this cause.
"I was able to do it. Everyone needs to fight for their rights. Everyone needs to fight to stay here," Reyes Leonor said. "We have to fight to get what we get. We have to fight like warriors."
The nation's current immigration policy puts an unnecessary strain on families and wastes money on the deportation of people who are hardworking, law-abiding and looking for their slice of the American dream, demonstrators said. The messages on some of their signs -- "Keep Families Together: Immigration Reform Now" and "Stop Deportation, Stop Separation" -- highlighted that point.
Tatiana Tooley, a U.S.-born Allentown resident whose parents emigrated from Panama, said, "I cry for the families that don't have family unity" because of deportation.
Dennis Hower, president of Teamsters Local 773, said immigration reform would protect all laborers from exploitation by unscrupulous employers. When undocumented immigrants are underpaid, paid off the books or forced to work excessive hours, it undermines the rights of everyone in the workplace, he said.
"For us, it's a matter of fairness and doing what's right for all workers," said Hower, who is a Whitehall Township commissioner.
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A New Divestment Movement Against Trump Gears Up
New York City has pledged to divest its pension holdings from companies involved in the private prison industry. But...
New York City has pledged to divest its pension holdings from companies involved in the private prison industry. But the ultimate goal is to help build a mass movement against the White House.
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150 Restaurants Are Donating Proceeds to Puerto Rico for World Central Kitchen’s 'World Food Day'
150 Restaurants Are Donating Proceeds to Puerto Rico for World Central Kitchen’s 'World Food Day'
World Central Kitchen will host its fourth annual World Food Day on October 13, and so far 150 restaurants nationwide...
World Central Kitchen will host its fourth annual World Food Day on October 13, and so far 150 restaurants nationwide have agreed to donate 10 percent of their proceeds to WCK’s Puerto Rico aid and to a new culinary school in Haiti.
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Who will win America's worst employer contest?
As pageants go, here's one whose contestants might want Steve Harvey to spare them the crown. The Center for Popular...
As pageants go, here's one whose contestants might want Steve Harvey to spare them the crown.
The Center for Popular Democracy on Wednesday debuted the Worst Employer in America Pageant theworstemployers.com. Eight companies, including Deerfield-based Walgreens, were selected as nominees, and people are being asked to vote on which is worst "based on such bad behaviors as a poor CEO to median worker pay ratio, failure to pay minimum wage and overtime, worker lawsuits against companies, or forcing workers to work through breaks, among other egregious practices."
A "winner" will be named Feb. 29. No word yet on the "prize," which will be announced the same day.
The nonprofit, which advocates for low-wage workers and immigrants among other progressive causes, is pitting two employers against each other in four categories. In banking, voters choose between Bank of America and Wells Fargo. In supermarkets, it's Sam's Club vs. Whole Foods. Among drugstores, Walgreens is up against CVS. And among pizza chains, Papa John's competes with Yum! Brands, owner of Pizza Hut.
"America's most recognizable brands are some of our biggest employers and we want to highlight their poor treatment of employees," JoEllen Chernow, director of economic justice at the Center for Popular Democracy, said in a statement. "Consumers are no longer just judging companies on how much they like their products or the efficiency of their services. In 2016, customers care about how companies treat their workers full stop. Yup, it's a thing."
In selecting the nominees, the group considered national corporations that provide everyday services to consumers, have at least 20,000 employees, are ubiquitous brands and have recently been in the news for employee-related issues.
As they click through the contest, voters will find short explanations of what landed each company on the podium.
For Walgreens, the group claims "part-time workers can't afford to get sick," because only workers who average 30 hours or more a week are eligible for paid sick time. It also claims that the CEO's 2014 pay was 540 times the median pay of Walgreens workers. Total compensation for then-Walgreens CEO Gregory Wassonwas $16.7 million, the Tribune has reported.
Walgreens declined to comment. But a spokesperson clarified that its policy is that anyone who averages 20 hours a week qualifies for paid sick leave.
As for Walgreens' opponent, the group claims CVS' CEO got a 26 percent raise in 2014 that brought his salary to $23 million, while workers making $9 an hour got less than a 5 percent bump. It also accused the company of not offering part-timers paid sick leave and mentioned a lawsuit in New York alleging that workers were ordered to racially profile nonwhite shoppers.
In an emailed statement accusing the "pageant" of relying on inaccurate and incomplete information, CVS spokesman Mike DeAngelis countered that its CEO pay is in line with industry standards and that workers who average 30 hours a week are eligible for benefits. He added that the company has firm nondiscrimination policies and is vigorously defending itself against the lawsuit.
Whole Foods spokesperson Allison Phelps noted that the company has been named one of Fortune's 100 best companies to work for for 18 consecutive years, a contest based on employee surveys.
Yum! Brands said it pays employees above the applicable minimum wage on average at its company-owned restaurants. Among the group's gripes with Yum was that it doesn't reimburse drivers for costs associated with delivery work, resulting in their receiving less than minimum wage.
Wells Fargo declined to comment. The other companies listed in the pageant did not immediately respond to requests for comment.
Source: Chicago Tribune
At Unprecedented Meeting, Fed Officials Voice Support for Activists’ Issues
At Unprecedented Meeting, Fed Officials Voice Support for Activists’ Issues
JACKSON HOLE, Wyo.—Federal Reserve officials sought to reassure a group of labor activists that the central bank isn’t...
JACKSON HOLE, Wyo.—Federal Reserve officials sought to reassure a group of labor activists that the central bank isn’t going to cool down the economy just as a stronger labor market is reaching a broader swath of Americans.
“We’re going to run [the economy] hot, get the unemployment rate down lower,” San Francisco Federal Reserve Bank President John Williams said at an unprecedented meeting with activists from the Campaign for Popular Democracy’s Fed Up Campaign.
The meeting of activists and high-ranking Fed officials took place shortly before the start of the Kansas City Fed’s high-profile policy conference in Jackson Hole, Wyo. Central bankers in attendance included Fed Chairwoman Janet Yellen’s two top lieutenants, New York Fed President William Dudley and Vice Chairman Stanley Fischer. Ms. Yellen, although scheduled to speak at the Jackson Hole symposium early Friday, didn’t attend.
The left-leaning activist group Fed Up publicly met with eight Federal Reserve presidents Thursday to discuss inequality and interest rates during the central bank's annual meeting in Jackson Hole, Wyoming.
Nine regional Fed bank presidents and two governors held a public discussion with the left-leaning group, whose goal is to convince Fed officials to keep short-term interest rates low to boost short-term growth and drive unemployment further down. It came as pressure mounts on Fed officials on many fronts to explain a disappointing economy.
Several Fed Up activists argued the only way to lower unemployment in the black community is to heat up the broader labor market.
Rod Adams, a 27-year-old community group organizer from Minneapolis, told the meeting, “I don’t understand how you can think that,” when confronting Fed officials’ statement that the U.S. is near full employment.
“I don’t want to be sacrificed for a war against an inflation enemy that isn’t here,” Mr. Adams said.
Transcript: Fed Officials Meet With Fed Up Activists at Jackson Hole
Fed Up activists also challenged Fed representatives on diversity. The group doubled down on its earlier criticism of the Federal Reserve’s leadership as overly male, almost entirely white and drawn too frequently from the banking community.
The composition of Federal Reserve leadership has also received criticism from Democratic elected officials who say the institution doesn’t adequately reflect the demographics of the nation it is meant to serve.
New York Fed President William Dudley told the meeting Thursday that the Fed’s record on diversity has been “pretty lousy.” His counterpart from the Minneapolis Fed, Neel Kashkari, said that “we have made progress and can make more progress.”
A recent paper by the Brookings Institution noted that of the 134 different presidents of regional Fed banks in history, none has been Hispanic or African-American. Ms. Yellen is the central bank’s first female leader, and she and Federal Reserve governor Lael Brainard are two of only nine women to serve on the Fed’s board in its history. Currently, two of the Fed’s 12 regional banks—Cleveland and Kansas City—have female presidents.
The central bankers at Thursday’s meeting expressed support for the issues that Fed Up questioners raised. However they also argued that the Fed’s main goal should be avoiding another recession and promoting maximum employment and price stability.
Vice Chairman Stanley Fischer praised the group for setting up the discussions, but he called on the activists to research the issues that confront the communities involved.
“When you get the facts, when you get the analysis, you can make a difference. When you speak about how bad the problem is it’s a much less effective tool,” the former Massachusetts Institute of Technology professor said.
Write to Harriet Torry at harriet.torry@wsj.com
Corrections & Amplifications:
U.S. Federal Reserve officials argued that the central bank’s main goal should be avoiding another recession and promoting maximum employment and price stability. An earlier version of this article incorrectly said they argued that the goal should include promoting maximum unemployment. [Aug. 26]
By Harriet Torry
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Experts Urge Fed To Pursue 'Genuine Full Employment' Before Rate Hike
The Federal Reserve should pursue "genuine full employment" with "robust wage growth" before raising interest rates, ...
The Federal Reserve should pursue "genuine full employment" with "robust wage growth" before raising interest rates, experts from the Center for Popular Democracy and the Economic Policy Institute argue in anew report.
The report authors say the Fed, the central bank of the United States, can help reverse wage stagnation and narrow gender and racial wage gaps through its monetary policy.
Most Americans have faced wage stagnation over the last 35 years, despite there being a 64.9 percent growth in productivity during this time, according to the report. Wage growth also remained sluggish last month, with average hourly earnings increasing only 2 percent in June from one year ago.
A move by the Fed to slow the economy with an interest rate hike before "genuine full employment" is achieved will "hamper the ability of workers' wages to rise," the authors wrote.
"Because the vast majority of American workers have seen near-stagnant wages even as economy-wide productivity growth has constantly risen, there's ample space for wage gaps to close without anyone losing wages," said report co-author Josh Bivens, EPI's research and policy director. "The Fed has a powerful role in shaping labor market trends and raising wages. By pursuing full employment, it could help to close these wage gaps among workers."
In the report, the experts highlighted wage trends over recent decades among men and women as well as racial groups. Over the past 35 years, racial wage gaps between whites and Latinos or blacks have widened, the report says. During the same time period, disparities in median earnings between men and women did narrow by about 30 percent, but over a quarter of that progress was due to a decline of men's wages, according to the report.
For its part, the Fed has a "dual mandate" to keep prices stable and maximize employment. The Fed's current inflation target is 2 percent, and full employment is defined by the financial institution as a jobless rate between 5.0 percent to 5.2 percent. The nation's unemployment rate in June was 5.3 percent.
At some point this year, the Fed could begin to raise short-term interest rates, which were cut to near zero percent during the Great Recession to support the economy.
The report authors argue that the Fed's full employment estimate is "too meek," adding that the financial institution "should experiment aggressively with letting the unemployment rate fall as low as possible before raising interest rates."
"[T]he Fed should allow much lower unemployment levels, so long as no accelerating inflation results," the report adds. "Substantial evidence supports pursuing this more tolerant approach to falling unemployment. The late 1990s saw much lower rates (4.0 percent for two full years in 1999 and 2000) without sparking accelerating price inflation."
According to the experts, annual wage growth should also be in the 3.5 percent to 4.5 percent range before the Fed considers an interest rate hike.
Here are the three key recommendations listed in the report:
The Federal Reserve should set a clear and ambitious target for wage growth, which will provide an important and straightforward guidepost on the path to maximum employment. Wage targeting can be fairly easily tailored to the Fed's price-inflation target and pegged to increases in productivity.
The Fed should maintain a patient, but watchful posture. The history of the past 35 years shows a generally steady downward trend in price inflation and that prematurely slowing the economy results in higher than desirable unemployment.
The Federal Reserve should not consider an interest-rate hike until indicators of full employment--particularly wage growth--have strengthened.
"Failure to aggressively target and achieve genuine full employment by keeping interest rates low and setting a clear and ambitious target for wage growth explains a large part of why wages continue to stagnate," said report co-author Connie Razza, CPD's director of strategic research. "There is increasing talk about raising interest rates, but it would be a terrible mistake for the Fed to do so. Raising interest rates too soon will slow an already sluggish economy and will disproportionately harm women and people of color."
Source: Progress Illinois
The Resistance Now: Star Wars, 'aliens' and Leonardo DiCaprio join the fight
The Resistance Now: Star Wars, 'aliens' and Leonardo DiCaprio join the fight
It seems the Earth has a sense of irony. “Record-breaking heat” is possible at the People’s Climate March in DC on...
It seems the Earth has a sense of irony. “Record-breaking heat” is possible at the People’s Climate March in DC on Saturday, where thousands of people are planning to protest against the president’s climate change policies on his 100th day in office. Trump’s initiatives include, but are not limited to, a 31% cut in the Environmental Protection Agency and potentially leaving the Paris climate agreement.
Among those suffering in the heat will be former vice-president Al Gore and, apparently, Leonardo DiCaprio. It is likely to take a titanic effort to change the other Wolf of Wall Street’s mind, however, as Trump has repeatedly said that the inception of climate change had nothing to do with mankind. Only 1,361 more days of this to go!
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City Governments Spend More For Policing Than Social Services
City Governments Spend More For Policing Than Social Services
Watch a discussion about how governments spend more money on policing than they do on social services....
Watch a discussion about how governments spend more money on policing than they do on social services.
Watch the video here.
Witching Hour interview: Fighting economic injustice with attorney Shawn Sebastian
Witching Hour interview: Fighting economic injustice with attorney Shawn Sebastian
We have not fully recovered from the 2008 crash,” Sebastian told Little Village. “The hole we were put into, the hole...
We have not fully recovered from the 2008 crash,” Sebastian told Little Village. “The hole we were put into, the hole we were thrown into by the financial industry 10 years ago, we have not gotten out of yet. The wealth that was lost, no one has recovered from that. Everyone is poorer than they were, especially black families have had almost all of their wealth wiped out.
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2 months ago
2 months ago