No Class Warfare Here

By AmericanDreamer on Tue, 07/19/2011 - 3:48pm |

Harold Meyerson in The American Prospect Online.

J.P. Morgan Chase "Eye on the Market" Newsletter July 11 report maintains the reduction in wages and benefits as a percentage of S&P 500 company revenue is responsible for about 75 percent of the increase in those companies’ profit margins. They are calling upon American workers to take up pitchforks and march on Washington, D.C. until federal policymakers take steps to address the situation, including immediate passage of the Employee Free Choice Act and stiff penalties against companies which fire workers seeking to organize unions. (I made that last sentence up. J.P. Morgan Chase is not recommending that.)

And more. It's a short piece, with a link to the report itself.

URL:

http://blog.prospect.org/harold_meyerson/2011/07/no-class-warfare-here.html

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Had me going there with the pitchfork line, AD. hahahahahaha I'm still chuckling over it.

by wabby on Wed, 07/20/2011 - 7:45am

Related, see August Mother Jones magazine cover story.

"All Work and No Pay: The Great Speedup", by Monika Bauerlein and Clara Jeffery, at:

http://motherjones.com/politics/2011/06/speed-up-american-workers-long-hours

"Overworked America: 12 Charts That Will Make Your Blood Boil", by David Gilson, at:

http://motherjones.com/politics/2011/06/speedup-americans-working-harder-charts

"Harrowing, Heartbreaking Tales of Overworked Americans", by Kiera Butler, Dave Gilson, Josh Harkinson, Andy Kroll and Laura McClure, at:

http://motherjones.com/politics/2011/06/stories-overworked-americans?page=1

by AmericanDreamer on Wed, 07/20/2011 - 3:43pm

I came across this notification from several sources but I link Huffpo:

http://www.huffingtonpost.com/2011/07/22/wall-street-layoffs_n_906364.html?ncid=edlinkusaolp00000008

They--the corporate elitists--have been doing this sort of thing for the past three years at least.

If you fire all these lowly employees (actually tens of thousands lost their jobs on Wall Street over the years) and increase the bonuses of the elite, how much work is demanded of those lowly employees who are left?

by Richard Day on Fri, 07/22/2011 - 6:25pm

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