Toys `R' Us Workers Go to Congress to Seek Curbs on Buyout Firms
Toys `R' Us Workers Go to Congress to Seek Curbs on Buyout Firms
“We need to fight for all workers who are being treated like the Toys ‘R’ Us employees, who are bearing the personal...
“We need to fight for all workers who are being treated like the Toys ‘R’ Us employees, who are bearing the personal economic costs of corporate greed run amok,” Senator Gillibrand said on Tuesday in a meeting organized by Rise Up Retail and the Center for Popular Democracy, which represent retail workers. “I will keep doing everything I can in the Senate to make that happen.”
Read the full article here.
Former Yellen Adviser Proposes Sweeping Reform of Fed System
Former Yellen Adviser Proposes Sweeping Reform of Fed System
A former aide to Federal Reserve Chair Janet Yellen has broken ranks with his former employer and issued a blueprint...
A former aide to Federal Reserve Chair Janet Yellen has broken ranks with his former employer and issued a blueprint for a sweeping reform of the U.S. central bank, including regular government audits and shorter term limits for policy makers.
Dartmouth College professor Andrew Levin targeted four areas of change for the Federal Reserve system: make the Fed a fully public institution; ensure the process of picking regional Fed presidents is transparent; set seven-year term limits for regional presidents and Board governors; and make the entire Fed subject to external review.
The proposals were taken up by the union-backed activist group Fed Up, which promoted them Monday in a conference call with journalists, and come during an election year where the central bank has been a campaign topic.
“There is one key principle in this document which is the Fed needs to become a public institution,” Levin said. “Pragmatic, reasonable Fed reform should be able to be passed by the Congress, by both parties. That is my hope.”
The Dartmouth professor worked two decades at the Fed, and was a special adviser from 2010 to 2012 to former chairman Ben S. Bernanke, and Yellen when she was vice chair, according to his biography page at the university.
Legislative Plans
Republicans in the U.S. Senate and the House of Representatives last year proposed legislation that included reforms of the central bank, though none has become law. Fed spokeswoman Michelle Smith declined to comment.
As recently as February, Yellen said that while the Fed might be structured differently if it were created today, she believed it still worked well and wasn’t “broken.”
“Of course the structure could be something different and it’s up to Congress to decide that -- I certainly respect that,” she said at a Senate hearing. “I simply mean to say I don’t think it’s broken the way it is.”
The Fed system, which sets interest rates for the U.S. economy, is made up of a Board of Governors in Washington and 12 regional Fed banks. It was created by an act of Congress, yet private banks hold stock in the regional Fed institutions as a result of the way the capital structure was set up when the Fed was born more than a century ago.
“The Federal Reserve is the only central bank that I know of that isn’t a fully public central bank,” Levin said in an interview.
Levin said the 12 regional banks should become fully public entities, meaning they have to somehow eliminate or repurchase the stock they have issued to private member banks. He also proposed banning anyone affiliated with financial institutions overseen by the Fed from serving as a regional Fed director.
Three Classes
Each regional Fed has a nine-member board of directors which includes three Class A directors who represent private member banks, three Class B directors picked by the private banks to represent the public -- typically local business people -- and three Class C directors chosen to represent the public by the Fed board in Washington.
The presence of financial interests on Fed boards has been a long-standing source of criticism. Currently, for example, James Gorman, chairman and chief executive of Morgan Stanley, sits on the New York Fed Board as a Class A director.
Prior the passage of the Dodd-Frank financial reform act in 2010, Class A directors also helped pick the 12 regional Fed bank presidents, subject to the approval of the board in Washington. That potential conflict of interest, with bankers appointing their own supervisors, was limited by Dodd-Frank, which restricted the selection process to Class B and Class C directors.
Levin said the current system of picking Fed presidents, which is led by regional board directors, is too secretive. He recommended the reserve bank boards accept nominations from the public, publish a list of eligible nominees, and then engage in a “selection process that involves genuine public participation.”
The Dartmouth professor also said that the entire Fed system should be subject to “external reviews” and disclosure requirements “just like every other key public agency.”
“The Government Accountability Office should produce a regular annual review of all aspects of the Fed’s policies, procedures, management, and operations,” Levin wrote in his proposal. The Fed has strenuously objected to calls by Republican lawmakers that monetary policy decisions be subject to GAO audit. In the interview, Levin said the GAO should focus on the management and operations of the Fed system, “not so much on monetary policy.”
“Part of the financial crisis was due to mismanagement in the division of supervision at the Fed,” Levin said in an interview. GAO reviews would provide assurance to the public and Congress that the “Fed is a well-managed organization,” he said.
By Craig Torres
Source
Activists jolt the Fed's mountain getaway
The shocking appearance of activists at the usually quiet retreat is a sign of a growing battle over when and whether...
The shocking appearance of activists at the usually quiet retreat is a sign of a growing battle over when and whether the Fed should raise interest rates. That crucial decision is making the central bank even more of a political target for populist anger. With critics like Sens. Elizabeth Warren and Rand Paul taking sharper swipes at the Fed, protesters are becoming emboldened.
Both liberal and conservative critics of the bank have organized "counter conferences" on monetary policy held at the same time and place -- the first time in more than 30 years that anyone has scheduled events competing with the symposium hosted annually by the Kansas City Fed.
“The economy has not fully recovered and interest rates should not be raised when racial disparities exist,” said Shawn Sebastian, a policy advocate for the Fed Up Coalition of the Center for Popular Democracy, pointing to continued higher-than-average unemployment rates for black Americans.
And the crowded juxtaposition of the bankers and activists in a small resort area makes for some awkward encounters.
Sebastian spotted Richmond Fed President Jeffrey Lacker at the check-in desk at the Jackson Lodge this week and went right up to him.
“I gave him our agenda and invited him, personally, to come to our conference,” Sebastian said. “He handed the agenda back to me and said he had seen it and was, ‘well prepared for this kind of thing.'”
As Fed officials hear from central bankers from Switzerland and Chile Friday, they are doing so practically next door to a workshop called “Do Black Lives Matter to the Fed?” sponsored by Sebastian's group, which wants rates to stay low until wage growth and unemployment improve, especially for minorities. Meanwhile, a conservative group, the American Principle Project, is holding a separate conference several miles away that includes speakers pushing for tighter monetary policy and higher interest rates, as well a return to the gold standard.
The atmosphere is very different than when the Kansas City Fed started holding the retreat in Jackson Hole in 1982, back when fly-fishing enthusiast Paul Volcker was in charge of the central bank. The symposium has always been held in late August and billed as an exclusive, invitation-only affair in the middle of a national park. Over the years, it's grown to be one of the more high-profile Fed events, even being called the Davos for central banks.
The head of the Fed usually attends, although Chair Janet Yellen is skipping this year. The event tends to be covered by the media because, in past years, Fed chiefs like Ben Bernanke and Alan Greenspan have used the occasion to broadcast significant monetary-policy shifts.
The event is fairly cloaked in secrecy. Its dates weren't announced until early this spring.
“When I first started asking about it, back in November, they were very secretive. I had to go and ask the lodge what weekends were available and from that, I was able to determine the right weekend,” said Steve Lonegan, policy director for the American Principle Project, which was prohibited by lodge staff from holding a conference at the same place as the Fed symposium. His group is down the road at the Hotel Terra and Diamond Cross Ranch.
“I was told by the lodge staff that the Fed had the whole building, because of security purposes," he said.
A spokesman for the Kansas City Fed acknowledged this was the first year their symposium was taking place alongside competing monetary conferences. But he declined to comment further about the other groups.
Both organizations confirmed they’ve had opportunities over the past several months to sit down and talk about their top priorities face-to-face with Yellen.
But they said holding a conference at the same time as the Jackson Hole event seemed like the ideal way to get even more attention to their cause, with the added bonus that their own conference-goers might also run into central bank policymakers at the park. Both groups had invited Fed officials to their conference and hoped to get crossover attendees.
At one point this week, a group of about 100 Fed Up conference-goers outside the Jackson Hole Lodge chanted: “Don’t raise interest rates! Don’t raise interest rates!”
Meanwhile, central bankers flying into the Jackson Hole Airport -- basically the main entry to the area for conference-goers -- may have passed the American Principle Project's table advertising its event highlighting the problems of loose monetary policy.
“The goal of our conference is to challenge the Fed’s monetary policy and educate the American people on the widening income gap driven by the failed policies of the Federal Reserve system,” said Lonegan, whose conference includes speakers like Rep. Scott Garrett, a New Jersey Republican, and the outspoken broker and Euro Pacific Capital CEO Peter Schiff. Schiff’s session is called, “Monetary Roach Motel — No Exit from the Fed’s Stimulus.” There’s a panel on international monetary reform, which includes members of British Parliament, and a few speakers who want a return to the gold standard.
The APP had originally signed on former Fed chief Alan Greenspan as their main speaker. Greenspan pulled out, Lonegan said, so now former Sen. Jim DeMint, president of the Heritage Foundation, is the keynote speaker.
“It’s not easy to put together a counter conference to the most powerful organization on the planet earth,” Lonegan said. “You have to have speakers who have the guts to put their names out there.”
Source: Politico
Faltan traductores en viviendas públicas de NYC
El Diario - March 6, 2014, by Joaquín Botero, Juan Matossian, and Gloria Medina - El reciente caso del triple asesinato...
El Diario - March 6, 2014, by Joaquín Botero, Juan Matossian, and Gloria Medina - El reciente caso del triple asesinato en Jamaica, Queens, pudo haberse evitado si la Policía hubiese traducido una denuncia que la víctima había escrito en español. El mismo ha puesto de relieve algunas de las lagunas de la legislación de la ciudad en esta materia.
A pesar de las reglamentaciones que obligan a todas las agencias públicas de Nueva York a brindar servicios gratuitos de traducción a personas con limitado o nulo conocimiento del inglés, todavía existen serias omisiones y dificultades de implementación que en algunos casos han llevado a resultados trágicos.
En 2008, el alcalde Michael Bloomberg firmó la orden ejecutiva 120, que exige a las oficinas municipales —incluida la Policía— proveer dichos servicios. En 2011, elgobernador Andrew Cuomo firmó la orden ejecutiva 26, que requiere traducir documentos públicos a varios idiomas. Estas normas cuentan con financiamiento local y federal.
"La ciudad ha hecho progresos, pero Bloomberg no se esforzó al cien por ciento. Esperamos que De Blasio presione más para la ejecución de estas leyes", dijo Andrew Friedman, codirector del Center for Popular Democracy y fundador de Make the Road, una de las organizaciones comunitarias que más ha luchado por este tema.
El alcalde Bill de Blasio empezó su mandato con el grave incidente del asesinato deDeisy García y sus dos pequeñas hijas, apuñaladas por Miguel Mejía, esposo y padre de las víctimas. La mujer había reportado amenazas de muerte y abusos físicos de su pareja, pero los oficiales del precinto 103 de registraron incorrectamente sus denuncias como "acoso" en lugar de "violencia doméstica". En consecuencia, Mejía no fue arrestado —ni siquiera se le contactó.
El abogado Roger Asman, quien representa a la madre y abuela de las víctimas, prepara una demanda contra la Policía. Asman posee dos reportes escritos en español por García, en mayo y noviembre del año pasado, en donde la desesperada mujer cuenta que sufrió jalones de pelo, empujones y amenazas de muerte contra ella y las niñas. EL DIARIO/LA PRENSA pudo leer uno de estos reportes en los que la mujer transcribe un intercambio con su excompañero que confirma lo anterior.
"No tradujeron el reporte, ni miraron los aspectos más importantes, ni le dieron la protección constitucional que le correspondía", dice Asmar.
El NYPD enfrenta además una demanda colectiva por siete casos similares.
La abogada Amy Taylor indicó que "el NYPD no tiene un sistema para asegurar que sus agentes hagan lo que deben. Y si tienen un reglamento, no lo están siguiendo".
El caso más reciente fue el de la dominicana Elena Jiménez (34), que llamó al 911, el 30 de enero, después de regresar del hospital con su hijo. Encontró que su esposo había cambiado la cerradura de la vivienda en Norwood, El Bronx. Aunque Jiménez tenía en la mano la orden de protección en contra de su esposo cuando los agentes del precinto 52 llegaron, fue a ella a la que le ordenaron sacar sus pertenencias en bolsas de basura.
"No sé qué les dijo mi esposo, pero me dieron cinco minutos para que sacara mis cosas", relató Jiménez quien llegó a la ciudad hace un año y no habla inglés.
En respuesta a estos casos, el Departamento de Policía se comprometió a corregir las falencias en el sistema, mientras que el comisionado William Bratton admitió que se había cometido un error. El NYPD cuenta con 1,200 intérpretes calificados que hablan más de 70 idiomas.
Casos en la vivienda
La Autoridad de Vivienda Pública (NYCHA) tiene la obligación de proveer personal y servicios de traducción para personas con inglés limitado. Residentes de tres grandes "projects" de El Bronx (Twin Parks West, Twin Parks East y Monterey), donde viven alrededor de mil hispanos, denuncian que dependen de la asistencia de personal que sólo habla inglés en la oficina de administración y reciben todas las notificaciones sin traducir.
La dominicana Gisela Concepción (62), una de ellas, recibió recientemente un importante aviso para actualizar su contrato de alquiler, pero no pudo acudir porque no estaba traducido y no entendía lo que le pedían.
"Necesito ayuda de mis vecinos para traducir todos los avisos que me mandan. Lo peor es que no puedo reportar cuando tengo un problema en mi apartamento porque en la oficina no me entienden", explicó.
NYCHA alega que su política es ofrecer siempre servicios lingüísticos gratis para los residentes que lo necesitan, y se asegurará de que los empleados de los "projects" mencionados se familiaricen con la misma.
“Tomamos todas las quejas de nuestros residentes muy seriamente, y nos aseguraremos de que nuestros empleados implementen nuestras directrices de acceso lingüístico adecuadamente”, declaró la agencia a través de un comunicado.
Por su parte, el concejal Ritchie Torres, que preside el Comité de Vivienda Pública, dice estar “muy preocupado” por las informaciones sobre la falta de personal para atender a inquilinos que no hablan inglés y promete tomar cartas en el asunto.
“Esto es una falta inexcusable de servicio a residentes de vivienda pública y me aseguraré de que NYCHA acometa el problema”, dijo Torres, quien ya ha ayudado a Concepción para que NYCHA le de una nueva cita.
Source
Press Release New Report Reveals Unscrupulous Employers Involved With Wage Theft in New York
Press Release New Report Reveals Unscrupulous Employers Involved With Wage Theft in New York
Today, Center for Popular Democracy Action releases the first major report on New York wage theft since 2009. The...
Today, Center for Popular Democracy Action releases the first major report on New York wage theft since 2009. The report, By a Thousand Cuts: The Complex Face of Wage Theft in New York, identifies 11 ‘bad actors’, which are employers with a history of wage theft that is either particularly egregious or that exemplifies a broader trend in key New York sectors.
The companies highlighted in the report have a history of committing various wage theft violations, such as denying benefits, failing to pay overtime or minimum wage, making illegal deductions from pay checks, telling workers to work off the clock, and misclassifying workers as freelancers or independent contractors to avoid paying benefits.
Despite passage of the Wage Theft Prevention Act of 2010, which gives New York the strongest laws in the nation, an estimated 2.1 million New Yorkers are still victims of wage theft annually, cheated out of a cumulative $3.2 billion in wages and benefits they are owed. The report contains never-before-released testimonies from impacted workers.
Protesters from The New York Coalition against Wage Theft gathered at 11 a.m. in front of a worksite run by asbestos removal company New York Insulation Inc., one of the bad actors identified in the report.
“New Yorkers are being cheated out of their hard earned wages, and it has to stop now,” said New York City Comptroller Scott M. Stringer. “The bottom line is that an honest day’s work deserves an honest day’s pay –and if a company cheats workers out of their wages, we will catch them and they will pay. I commend Make the Road New York and the Center for Popular Democracy for issuing this new report and continuing the fight against wage theft.”
“Despite good laws on the books, wage theft continues at epidemic proportions impacting millions of workers each year. It is, in effect, a massive crime wave that costs New Yorkers billions and exacerbates poverty and inequity in our state,” says Meg Fosque, low-wage organizing director at Make the Road.
“Wage theft is a pervasive crime, rather than the practice of a few unscrupulous employers. And, companies build business strategies on the bet that they will never be called to account for stealing their employees’ wages and undercutting high-road businesses. We need robust and resourced enforcement efforts to protect workers’livelihoods and the ability of fair employers to do business,” says Connie Razza, Director of Strategic Research at the Center for Popular Democracy.
"The depth and breadth of the wage theft problem is crippling our economy. The construction industry, tax payers, and workers all equally feel the pain of wage theft. This is not a victimless crime. When responsible contractors operating within the laws of New York State are put at a disadvantage against those ignoring these same laws, we must all unite to fix this problem," says Patrick J. Purcell, Executive Director with Greater New York LECET.
###
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.
Taking on the Private Prison Industry’s Corporate Backers
Taking on the Private Prison Industry’s Corporate Backers
Activists are trying to combat both the accelerated tracking and detaining of immigrants and the use of for-profit...
Activists are trying to combat both the accelerated tracking and detaining of immigrants and the use of for-profit prisons to hold them by targeting the big banks that prop up for-profit prison companies.
Read the full article here.
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...
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".
Lea el artículo completo aquí.
"You Can Save My Life": Traveling on Same Plane, Man With ALS Confronts Sen. Flake Over GOP Tax Bill
"You Can Save My Life": Traveling on Same Plane, Man With ALS Confronts Sen. Flake Over GOP Tax Bill
Sen. Jeff Flake (R-Ariz.) boarded a plane leaving Washington, D.C. on Thursday, less than a week after voting for a tax...
Sen. Jeff Flake (R-Ariz.) boarded a plane leaving Washington, D.C. on Thursday, less than a week after voting for a tax bill that could result in devastating cuts to disability programs.
Ady Barkan, a 33-year-old father living with amyotrophic lateral sclerosis (ALS), boarded the same flight after spending several days protesting the very legislation Flake helped ram through the Senate.
Read the full article here.
The Fed, Full Employment, African-Americans, and an Event that Brings It All Together
Jared Bernstein Blog - March 3, 2015 - As a tireless (some would say tiresome) advocate for full employment and the...
Jared Bernstein Blog - March 3, 2015 - As a tireless (some would say tiresome) advocate for full employment and the benefits it yields for working people, you can imagine how I was thrown by this NYT headline over a piece by economics reporter Bin Appelbaum:
Black jobless rates remain high, but Fed can’t do much to help.
“Shots fired!” as the kids say.
I find this hard to believe in the following sense. Black unemployment has averaged almost twice that of overall unemployment since the monthly data begin in 1972 (avg: 1.9, with standard deviation of 0.15, so not a ton of variation around that mean). Crudely, that implies that if overall unemployment fell from 6% to 5%, the black rate might fall more in percentage point terms, from 12% to 10%.
Next, if the Fed can push down the overall unemployment rate, which is certainly within its purview and, at a time like this, its job description, then the headline seems off.
Now, there are important nuances in play here.
First, these relationships are not always so clean. Over the long, strong recovery of the 1990s, black unemployment fell 4.5 points compared to 2.1 points for whites (and 2.5 points overall). Over the 1980s recovery, black unemployment—which was about 20% at the end of the deep early 1980s recession—fell 8.5 points compared to 4.7 for whites.
Those comparatively big declines show the disproportionate benefits that blacks reap from lower unemployment and, conditional on the Fed’s ability to lower unemployment, they belie the NYT headline. I could make similar claims based on wages and incomes, but I’m bound by secrecy for now (more on that in a moment).
However, more recently, that relationship isn’t generating such impressive results. Over this recovery, black and white unemployment have declined by similar amounts (4.5 points for blacks; 3.8 for whites). And, as Appelbaum points out, real median wages have fallen twice as much for blacks as for whites.
But that’s kinda the point: until recently this has been a uniquely weak recovery, and as such, tells us little yet about the extent to which full employment will lift the relative economic fortunes of black workers.
If we get to and stay at full employment, I’m confident it will work as it has in the past, based both on the history briefly cited above and on some truly exciting results from a new paper we’ve commissioned for our full employment project on the benefits of full employment to black workers, written by the economist Valarie Wilson from the Economic Policy Institute.
Valerie will be highlighting the results at an event we’re holding in DC on March 30th so far be it from me to steal her thunder. But she’s got some panel data regressions (which provide lots more observations and variance than the simple time series comparisons noted above) showing the impact of lower unemployment on black compared to white median wages, and man…all’s I can say is I’m employing great restraint not to just print them right here and now!
Here’s another point worth considering. Various economists on team full employment have been trying to get the Fed to hold off on its interest rate liftoff, but Appelbaum writes: “It’s not obvious, however, that holding down borrowing costs for a little longer would be an effective way to address the underlying problem. Indeed, the problem is a good illustration of the limits of monetary policy.”
That may be true in the following sense: if the Fed raises rates a little bit in 2015q4 instead of 2015q3, I doubt it will matter that much to anyone in the real economy (though financial markets would make a huge deal out of it). Similarly, if they hold to a 5.4% full employment rate and a firm 2% inflation ceiling that mustn’t be breached, or if they shift from being data driven to shooting at the phantom menace of inflation that’s allegedly hiding out of sight from the data just around the corner—well then, yeah, they won’t much help those who depend on lasting full employment to catch a break.
He’s also got a point re underlying problems. Even full employment may not be enough to reach the millions of workers with criminal records who face uniquely high barriers to the job market. I’ve written about fair-hiring policies to reach these workers, and so has Appelbaum.
But check this out: I mentioned our March 30 event. Well, another speaker on the panel that morning will be the guy from whom I learned all I know about fair-hiring, Maurice Emsellem from the National Employment Law Project.
I know what you’re thinking: what about macro, what about Fed policy? How can you call yourself a full employment maven and leave that out? Did I forget to mention our keynote speaker? A fella named Bernanke…Ben Bernanke. Here’s the flyer. Be there and be square.
Source
Newark schools should offer more social services, advocates say
NJ.com - 05-06-2015 - Newark's schools should add more social services and community programming to tackle issues of...
NJ.com - 05-06-2015 - Newark's schools should add more social services and community programming to tackle issues of poverty afflicting local neighborhoods, a group of education advocates said Tuesday.
Dubbed the "community school" model, schools should strive to address needy students' health and emotional needs, teach content beyond what is included in standardized tests and include parental input in the decision making.
NJ Communities United organizer Roberto Cabanas told a packed audience in Kings Family Restaurant & Catering, that the district could work local nonprofit organizations to support a wider range of student needs.
"We need to bring the village inside of the school," he said.
Cabanas was one of four panelists at an education forum organized by activists and the city, including Newark chief education officer Lauren Wells, Evie Frankl of the Center for Popular Democracy and Mary Bennett of the Alliance for Newark Public Schools.
Wells said Newark Public Schools once adopted this approach about five years ago through the Global Village Zone, when the district attempted to turn around seven schools in the city's Central Ward.
At the time, the district announced that the program would implement longer days and provide more professional development and pay for teachers. Under the model, schools were set to turn schools into a place where students would be taught but also be able to go to health clinics.
"A community school is a place, a physical place, but it's also a practice," Wells said. "It is a way about going about doing things."
The program also sought input from teachers and parents when it designed it, Wells said.
"Teachers, specifically, at 18th Avenue School worked with the principal to design what (an) extended day would look like in their school," she said.
Bennett said when she was a principal in the district she tried to better serve students on probation by working with the county probation department to have one probation officer assigned to all the students in her school.
Under the community schools model, the district could streamline cooperation between government and universities, Bennett argued.
"You shouldn't have to spend a year to try and unify the services to support students," she said.
Frankl said districts around the country including in Baltimore, New York City and Lancaster, Pennsylvania are adopting this approach.
"Community schools can happen," she said. "There is no reason why a community school should not be the definition of a public school in the United States of America."
Source: NJ.com
2 days ago
2 days ago