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How far did PBS go to avoid offending a sponsor?

Mon, 20 May 2013 00:00:00 -0700

New Yorker - By Jane Mayer - May. 20 (News Report) - When Koch joined the boards of WGBH and WNET, it seemed to mark an ideological inroad, enabling him to exert influence over a network with a prominent news operation. Meanwhile, the member stations, by having Koch as a trustee, were inoculating themselves against charges of liberal bias, and positioning themselves to receive substantial new donations.

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Apple CEO Cook to Propose Tax Reform for Offshore Cash

Sun, 19 May 2013 00:00:00 -0700

Bloomberg - By Adam Satariano - May. 19 (News) - Apple is facing U.S. government scrutiny after Cook unveiled a plan last month to return $100 billion in cash to shareholders via dividends and buybacks through 2015. Rather than using cash overseas that will be taxed, Apple is borrowing money for the payout, saving as much as $9.2 billion in taxes,

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Billionaires Flee Havens as Trillions Pursued Offshore

Mon, 29 Apr 2013 00:00:00 -0700

Bloomberg - By David de Jong, Robert LaFranco - Apr. 29 (News Analysis) - The lawsuits provide a window into the offshore structures and secrecy jurisdictions the world’s richest people use to manage, preserve and conceal their assets. According to Tax Justice Network, a U.K.-based organization that campaigns for transparency in the financial system, wealthy individuals were hiding as much as $32 trillion offshore at the end of 2010. Fewer than 100,000 people own $9.8 trillion of offshore assets, according to research compiled by former McKinsey & Co. economist James Henry.

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Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

Thu, 25 Apr 2013 00:00:00 -0700

Rolling Stone - By Matt Taibbi - Apr. 25 (Investigative Report) - Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game.

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U.S. CEOs push plan to raise full retirement age to 70

Wed, 16 Jan 2013 00:00:00 -0800

CBS News - Jan. 16 (News Report) - An influential group of business CEOs is pushing a plan to gradually increase the full retirement age to 70 for both Social Security and Medicare and to partially privatize the health insurance program for older Americans.

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Secret money funds GOP door-knockers

Mon, 05 Nov 2012 00:00:00 -0800

The Politico - By Kenneth P. Vogel - Nov. 05 (Investigative Report) - The Billion-Dollar Buy: About this series Like never before, big dollars are having a big impact on politics and governance. This series examines how the new wide-open fundraising landscape will affect the 2012 campaigns. See also: Inside Koch world | GO

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Romney net worth remains near $250 million

Sun, 03 Jun 2012 00:00:00 -0700

Associated Press - By Stephen Braun - Jun. 03 (News Report) - Mitt Romney's personal fortune remains near $250 million, about the same as last year even after a mass sell-off of stocks from his vast investment portfolio. Romney's campaign said Friday that his assets ranged between $190 million and $250 million, and a tally by The Associated Press put the figure at the high end of that range.

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How Facebook's Elite Skirt Estate Tax

Sat, 12 May 2012 00:00:00 -0700

Wall Street Journal - May. 12 (News Report) - Mark Zuckerberg and other insiders appear to be using special trusts to shield their shares from gift or estate taxes. Investors are focusing on Facebook's FB 0.00% offering price as the company prepares to go public as soon as next week. Tax specialists are paying attention to something else: how half a dozen of the firm's luminaries, including founder Mark Zuckerberg, appear to be using a perfectly legal maneuver called a grantor-retained annuity trust, or GRAT, to avoid at least $200 million of estate and gift taxes on their own Facebook shares.

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Hollande Ousts Sarkozy in French Presidential Election

Sun, 06 May 2012 00:00:00 -0700

New York Times - By Steven Erlanger, Nicola Clark - May. 06 (News Report) - François Hollande swept into office on Sunday, becoming the first Socialist to be elected president of France since François Mitterrand left office in 1995. Mr. Hollande’s campaign promised a kinder, gentler, more inclusive France, but his victory over President Nicolas Sarkozy will also be seen as a challenge to the German-dominated policy of economic austerity in the euro zone, which is suffering from recession and record unemployment.

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Is US a model for austerity-wary Europe?

Sat, 05 May 2012 00:00:00 -0700

Christian Science Monitor - By Laurent Belsie - May. 05 (News Analysis) - America's poor jobs report has rattled world markets. Germany's DAX index fell 2 percent Friday. Wall Street saw its worst week of the year, as slowing job growth stoked fears that recovery in the United States is faltering. Last month, the economy added only 115,000 jobs.

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Occupy the regulatory system!

Sat, 28 Apr 2012 00:00:00 -0700

Washington Post - By Suzy Khimm - Apr. 28 (News Report) - Occupy Wall Street has moved. Its new address: 60 Wall Street. There, inside a soaring public atrium, dreadlocked teens trade shoulder massages near the evening meditation circle. A young man holds up a sign: “You’re a Federal Reserve $lave.” The dinnertime crowd buzzes over free plates of rice and beans while listening to an improvised, profanity-laden operetta about the evils of agro-giant Monsanto. But amid the din, there’s a small group holding a quieter, and far wonkier, conversation.

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Earth faces a century of disasters, report warns

Thu, 26 Apr 2012 00:00:00 -0700

The Guardian - By John Vidal - Apr. 26 (News Report) - Economic and environmental catastrophes unavoidable unless rich countries cut consumption and global population stabilises World population needs to be stabilised quickly and high consumption in rich countries rapidly reduced to avoid "a downward spiral of economic and environmental ills", warns a major report from the Royal Society . Contraception must be offered to all women who want it and consumption cut to reduce inequality, says the study published on Thursday, which was chaired by Nobel prize-winning biologist Sir John Sulston . The assessment of humanity's prospects in the next 100 years, which has taken 21 months to complete, argues strongly that to achieve long and healthy lives for all 9 billion people expected to be living in 2050, the twin issues of population and consumption must pushed to the top of political and economic agendas. Both issues have been largely ignored by politicians and played down by environment and development groups for 20 years, the report says. "The ...

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Guy Who Rented All 94 Rooms of Aspen Hotel for Party Scores Awesome New Goldman Job

Mon, 12 Mar 2012 00:00:00 -0700

Rolling Stone - By Matt Taibbi - Mar. 12 (Special Report) - The main character in that tale was an individual named Jeffrey Verschleiser, a former Bear Stearns executive who was instrumental in helping blow up that venerable firm. Verschleiser among other things was reportedly involved with an elaborate Wall Stre

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Unions Shocked By American Airlines Proposed Cuts

Thu, 02 Feb 2012 00:00:00 -0800

All Things Considered - By Wade Goodwyn - Feb. 02 (News Report) - American Airlines is looking to cut 13,00 jobs as part of a restructuring. The company — which is in bankruptcy — also wants to reduce salaries by 20 percent and end its pension plan.

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One Percent, Many Variations

Sun, 15 Jan 2012 00:00:00 -0800

New York Times - By Shaila Dewan, Robert Gebeloff - Jan. 15 (Special Report) - Adam Katz is happy to talk to reporters when he is promoting his business, a charter flight company based on Long Island called Talon Air. But when the subject was his position as one of America’s top earners, he balked. Seated at a desk fashioned from a jet fuel cell, wearing a button-down shirt with the company logo, he considered the public relations benefits and found them lacking: “It’s not very popular to be in the 1 percent these days, is it?”

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Congress: Trading stock on inside information?

Wed, 16 Nov 2011 00:00:00 -0800

CBS News - By Steve Kroft, Ira Rosen, Gabrielle Schonde - Nov. 16 (Special Report) - Washington, D.C. is a town that runs on inside information - but should our elected officials be able to use that information to pad their own pockets? As Steve Kroft reports, members of Congress and their aides have regular access to powerful political intelligence, and many have made well-timed stock market trades in the very industries they regulate. For now, the practice is perfectly legal, but some say it's time for the law to change.

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Council asks city to look at its investments

Tue, 15 Nov 2011 00:00:00 -0800

Seattle Times - By Lynn Thompson - Nov. 15 (News Report) - The Seattle City Council on Monday unanimously adopted a resolution in support of Occupy Seattle that calls on the city to examine its banking and investment practices, home-foreclosure patterns and the financing of local elections.

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How the GOP Became the Party of the Rich

Wed, 09 Nov 2011 00:00:00 -0800

Rolling Stone - By Tim Dickinson - Nov. 09 (News Analysis) - The nation is still recovering from a crushing recession that sent unemployment hovering above nine percent for two straight years. The president, mindful of soaring deficits, is pushing bold action to shore up the nation's balance sheet.

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What Percent Are You?

Tue, 25 Oct 2011 00:00:00 -0700

Wall Street Journal - By Phil Izzo - Oct. 25 (Special Report) - The Occupy Wall Street movement seeks to speak for the bottom 99% of the population by income, which includes pretty much everyone who makes less than $500,000 a year. According to the protesters’ unofficial website, “Occupy Wall Street” is a leaderless movement of people from many different backgrounds. “The one thing we all have in common is that we are the 99% that will no longer tolerate the greed and corruption of the 1%,” the website says. A related site called We Are the 99% records stories from people around the country. The calculator above shows where your income stands on the wide range of the 99%. An annual salary above $506,000 puts you in the top 1%, while you need to make less than $2,500 a year to be in the bottom 1%. Where do you stand?

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Cain's tax cut would give thousands back to the rich

Tue, 18 Oct 2011 00:00:00 -0700

McClatchy - By Steven Thomma - Oct. 18 (News) - Herman Cain’s 9-9-9 tax plan would give every American making more than $1 million an average tax cut of $455,000, according to a new independent analysis. All Americans with incomes above $200,000 would get tax cuts under the Republican presidential candidate’s dramatic proposal, according to the analysis by the Tax Policy Center, a joint effort of the Urban Institute and Brookings Institution, both respected center-left policy-research centers. At the same time, those with incomes below $200,000 _ 84 percent of taxpayers _ would see their taxes increase under the Cain plan, according to the analysis, which is the first to look at precisely what would happen to different incomes under the proposal.

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Buffett's words twisted on taxes

Thu, 29 Sep 2011 00:00:00 -0700

CNN - By Charles Riley - Sep. 29 (News Report) - Warren Buffett's words were used Friday by lawmakers to score petty political points -- exactly the kind of rhetoric he is asking Congress to put aside. At issue: Whether or not Buffett likes a White House tax proposal that the billionaire investor himself came up with and lent his name to.

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Obama, taxes and the ‘Buffett Rule’

Wed, 21 Sep 2011 00:00:00 -0700

Washington Post - By Glenn Kessler - Sep. 21 (Fact Check) - We have to admit we had overlooked this part of President Obama’s Rose Garden speech until we read David Brooks’s column in The New York Times Tuesday accusing the president of being misleading on the issue of taxes. “He repeated the old half-truth about millionaires not paying as much in taxes as their secretaries,” Brooks wrote. We’re not going to get into an argument between Brooks and Obama. We understood Obama’s comments to be specific to the situation that investor Warren Buffett outlined in his famous opinion article in The New York Times, in which he noted that he paid a lower tax rate than other people in his office. But, looking at Obama’s words again, we can see why Brooks thought Obama was saying that in general middle-class families were paying more in taxes than millionaires. (For the record, the White House says that was not Obama’s intent.)

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Obama Calls for New Taxes on Wealthy

Tue, 20 Sep 2011 00:00:00 -0700

Wall Street Journal - By John D. McKinnon, Jared Favole, Damian Paletta - Sep. 20 (News Report) - Obama called for $1.5 trillion in new taxes to help lower the nation's deficit, saying tax cuts for millionaires and billionaires in the last decade helped add to the country's massive debts.

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'Clearing the Smoke': The Benefits, Limits of Medical Marijuana | PBS NewsHour | PBS Video

Wed, 07 Sep 2011 00:00:00 -0700

PBS - Sep. 07 (News) -

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Wall Street Aristocracy Secretly Got $1.2 Trillion From Fed

Mon, 22 Aug 2011 00:00:00 -0700

Bloomberg - By Bradley Keoun, Phil Kuntz - Aug. 22 (Special Report) - Citigroup Inc. and Bank of America Corp. were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest US banks and brokerage firms to their best year ever with $104 billion of profits. By 2008, the housing market's collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the US Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the US Treasury, yet until now the full amounts have remained secret

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