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The Roosevelt Institute believes that restoring our democracy goes hand in hand with reforming our economy. Currently, the wealthy and well-connected are able to buy influence over the policymaking process—stacking the deck against the rest of us. As a result, corruption in government stands in the way of addressing nearly every issue on the progressive
On Wednesday a handful of U.S.-based corporations, with AT&T leading the way, announced that, in light of the recently passed tax bill, they will be giving their employees a one-time bonus. Before anyone else begins claiming that this tax bill is going to spur business investment and favor the working class, let’s remember a few
Yesterday, two nominees went before the Senate Banking, Housing, and Urban Affairs Committee for a chance to become the next commissioners of the Securities and Exchange Commission. We were thrilled to see Senator Brian Schatz ask the nominees to give their thoughts about the stock buyback “safe harbor,” Rule 10b-18, and even more excited that both
Despite energetic conversations around stagnant wages and job creation, few consider that the financialization of America’s public corporations has contributed just as much to economic inequality as more commonly-cited factors. The debate seems well-settled: scholars point to globalization, skill-biased technical change, and the decline of union density. Others point to the “rise of the robots”,
The People’s Climate March in April reminds me how far we’ve come in understanding that climate change is deeply tied to another ominous 21st threat: economic and social inequality. Even in the U.S., one of the largest contributors of greenhouse gas emissions, we are beginning to recognize that there are and will be vast climate
The Trump administration and House Republicans are proposing a massive tax cut for corporations and the 1 percent. They falsely claim the Brady-Ryan tax plan will increase investment, reverse outsourcing, and create jobs, but this is just more of their failed “trickle-down” ideology. In this report, we argue that the evidence shows another corporate tax cut
Props to the House Republicans for releasing their policy platforms for 2017 as if everything is just fine, in the hopes that they’ll influence Donald Trump and the general election. A speech by Jeb Hensarling, the chair of the House Financial Services Committee, today previewed the Financial CHOICE Act, their replacement for Dodd-Frank. (The H in CHOICE
In April, Gretchen Morgenson boldly called out the hypocrisy of BlackRock pillorying corporate short-termism while the investment giant simultaneously approved more than 96 percent of executive pay packages last fiscal year. She also described one BlackRock investor’s intrepid campaign to better align the company’s supposed philosophy with its executive pay practices: Stephen Silberstein, a retired
Today the Roosevelt Institute’s Financialization Project is releasing two new papers on short-termism:
Understanding Short-Termism: Questions and Consequences (pdf) by J.W. Mason.
Ending Short-Termism: An Investment Agenda for Growth (pdf) by Mike Konczal, J.W. Mason, and Amanda Page-Hoongrajok.
The first answers 12 common questions and complaints that are brought up when it comes to short-termism. It’s especially clear showing that investment in the most recent recovery is the weakest since the Great Depression, and that there’s no way to understand buybacks and dividends as representing funding for new businesses.
The second is our policy agenda, which goes beyond simply tackling short-termism by itself. Instead, it focuses on rebalancing power overall, limiting bad actors but also empowering good ones. This trend can only be combated by emboldening countervailing power in the marketplace while also emphasizing a new role for government.
I hope you check them out! Below is the Table of Content for policy agenda items and the questions about short-termism we answer in the two documents.
Though Republicans in Congress may be in disarray with the departure of House Speaker John Boehner, there’s at least one thing neither they nor the presidential hopefuls we’ll hear from at tonight’s debate will waver on: They’re all ready to triple-down on trickle-down economics by cutting taxes for the largest corporations, the wealthiest families, and