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  1. #1176
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    Sen. Warren slams Disney for 28,000 fired workers amid stock buyback spree


    https://www.alternet.org/2020/10/sen...buyback-spree/

    =============

    Labor getting screwed.

    otoh, Capital ...

    Goldman Sachs profits surge despite pandemic


    https://www.rawstory.com/2020/10/gol...-surge-despite



  2. #1177
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    With 42,000 Layoffs Since 2017, AT&T Plans Thousands More Layoffs At HBO, Time Warner


    Since 2017, AT&T has received not only a
    $42 billion tax break courtesy of the Trump administration,

    but billions more in regulatory favors from the Trump FCC, including the

    repeal of net neutrality,

    the erosion of much of the FCC's authority to police natural telecom monopolies, and

    the elimination of
    broadband-specific privacy rules.

    In exchange, AT&T promised thousands of "high paying jobs" and a massive e in investment.

    Instead, AT&T fired more than 42,000 employees and trimmed its overall 2020 investment.

    AT&T's now doing everything in power to trim its balance sheet. That includes plans to
    sell DirecTV for a huge loss, and thousands more layoffs across Time Warner, HBO, and other recently acquired properties:

    "AT&T's WarnerMedia is restructuring its workforce as it seeks to reduce costs by as much as 20 percent as the coronavirus pandemic drains income from movie tickets, cable subscriptions and television ads, according to people familiar with the matter.

    The overhaul, which is expected to begin in the coming weeks, would result in thousands of layoffs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the people said.

    The company's promise that the deal wouldn't result in price hikes for consumers? False.

    The company's promise the deal wouldn't result in higher prices for compe ors needing access to essential AT&T content like HBO?
    False.

    AT&T's promise they wouldn't hide Time Warner content behind exclusivity paywalls?
    False.

    The idea that the merger would somehow create more jobs at the company?
    False.

    Falsehoods that were all taxpayer subsidized and rubber-stamped thanks to regulatory capture.

    https://www.techdirt.com/articles/20...e-warner.shtml

    ===

    Up next, airllines to layoff many 10Ks

  3. #1178
    dangerous floater Winehole23's Avatar
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    Sen. Warren slams Disney for 28,000 fired workers amid stock buyback spree


    https://www.alternet.org/2020/10/sen...buyback-spree/

    =============

    Labor getting screwed.

    otoh, Capital ...

    Goldman Sachs profits surge despite pandemic


    https://www.rawstory.com/2020/10/gol...-surge-despite


    As designed, shareholders love it.

  4. #1179
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    Jobless claims rise to the highest level in almost 2 months

    The number of Americans filing new jobless claims has unexpectedly risen to the highest level since August.

    The Labor Department
    on Thursday said that

    898,000 Americans filed first-time jobless claims last week
    ,

    up more than 50,000 claims from the week before.

    This was not only more than the 830,000 claims economists had been anticipating but was also the highest number of weekly claims since Aug. 22

    https://theweek.com/speedreads/94385...lmost-2-months

    Was it $600/week keeping people unemployed,

    or was it absence of jobs,

    which continues and increases.




  5. #1180
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    Coronavirus pandemic plunges millions of Americans into poverty

    Two new studies show at least

    6m more people now live in poverty

    but Cares Act initially alleviated effects of Covid lockdown

    https://www.theguardian.com/us-news/...s-into-poverty

    The Repugs/oligarchy DON'T GIVE


  6. #1181
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    Coronavirus pandemic plunges millions of Americans into poverty

    Two new studies show at least

    6m more people now live in poverty

    but Cares Act initially alleviated effects of Covid lockdown

    https://www.theguardian.com/us-news/...s-into-poverty

    The Repugs/oligarchy DON'T GIVE

    Nancy won't pass the 1.8 TRILLION relief offered. Looks like it's her that doesn't give a .

  7. #1182
    dangerous floater Winehole23's Avatar
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    Greater Manchester mayor Andy Burnham attempts to leverage COVID-19 compliance for a bailout of North London

    It came as Greater Manchester’s Labour Mayor Andy Burnham refused to support tougher lockdown measures for the city unless 80 per cent of wages are paid for businesses forced to shut.
    Mr Burnham said the PM could kill off hundreds of thousands of jobs unless the Treasury coughs up more furlough money.
    https://www.thesun.co.uk/news/129421...ects-lockdown/

  8. #1183
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    Munchkin proposed $1.6T, Trash upped it to $1.8T, McConnell, not Pelosi, rejected it.

    "Qu'ils mangent de la merde"


  9. #1184
    dangerous floater Winehole23's Avatar
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  10. #1185
    dangerous floater Winehole23's Avatar
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    Does McConnell have the votes to pass a GOP written bill right now? Not rhetorical.

  11. #1186
    dangerous floater Winehole23's Avatar
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    Greater Manchester mayor Andy Burnham attempts to leverage COVID-19 compliance for a bailout of North London



    https://www.thesun.co.uk/news/129421...ects-lockdown/
    Back to the pub with you lot.

  12. #1187
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    Does McConnell have the votes to pass a GOP written bill right now? Not rhetorical.
    a few weeks ago the Repug Senate consensus was "not $1 more stimulus". As a lock step herd, probably today no change.

  13. #1188
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    Texas unemployment surges in September

    The Texas unemployment rate soared in September, climbing for the first time since April as job growth downshifted sharply.

    Unemployment rose to 8.3 percent, up more than a percentage point from 7 percent in August,

    The pace of job growth, meanwhile, fell by more than half over the month. Employers added about 41,000 jobs, down from about 112,000 in August.

    https://www.houstonchronicle.com/bus...r-15653084.php

  14. #1189
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    This for New England, probably more or less true nationwide.

    Enrollment plummeted at many New England colleges

    At more than two dozen colleges and universities across the region,

    the number of full-time graduate and undergraduate students

    plummeted by more than 20 percent

    this September compared with the previous year, according to the New England Commission of Higher Education, the regional accrediting agency.

    https://www.bostonglobe.com/2020/10/...gland-colleges

    The damage from The Trump-Made Pandemic will last for years. The 300K+ dead will last a bit longer.

    50M+ will still vote for Trash



  15. #1190
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    Pelosi objects to what McConnell insists he must have:

    indemnification for 5 years of employers against law suits from workers getting C19 at work

  16. #1191
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  17. #1192
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    As Washington scrambles for more bailout money, the Fed sits on mountain of untapped funds

    Hundreds of billions of dollars from the Cares Act remains uncommitted and may go unspent despite scramble by White House to produce more aid

    In March, Congress allotted $454 billion to the Treasury Department to support the central bank’s emergency lending programs, including those for struggling businesses and local governments.

    Of that pot, only $195 billion has been specifically committed to cover any losses the Fed might take,

    including though loans that companies fail to repay.

    Seven months into the crisis, the remaining $259 billion still has not been committed to any of the Fed’s specific programs or for any other purpose,

    and it is unlikely that it will be anytime soon.


    https://www.washingtonpost.com/busin...ry-coronavirus

  18. #1193
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    Next Big Shift in Economics Takes Shape Under Covid Shadow


    • Fiscal policy dominates and central bankers take a back seat
    • Risk is early withdrawal of public spending like after 2008


    https://www.bloomberg.com/news/articles/2020-10-11/the-next-big-shift-in-economics-takes-shape-under-covid-shadow


  19. #1194
    dangerous floater Winehole23's Avatar
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    eat and die if you didn't vote for Republicans


  20. #1195
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    red/Confederate states, their cities, schools, etc don't need bailouts?

    "Repugs won't bailout blue states" is ing lying pretext for doing nothing.

    The real reason is that McConnell insists on indemnifying companies agains employees' C19 suits.

  21. #1196
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    two bazooka theory

    Tankus added: “The Fed has two bazookas. One of them is a municipal bazooka and the other is a corporate credit bazooka. They have the municipal bazooka setting on low and the corporate bazooka setting on high.”
    Then, during the September 17 hearing of the Bailout Oversight Commission that oversees the Fed’s pandemic lending programs, commissioner Bharat Ramamurti spotlighted a major discrepancy in lending rates between an oil giant and the state of Wisconsin.

    "The Fed is using public money to purchase a bond from Chevron at a rate of 0.9% over more than 4.5 years,” Ramamurti said. A state like Wisconsin, with the exact same rating as Chevron has to pay 1.28 percent over 3 years.”

    Ramamurti added that while the Fed purchased a Philip Morris bond at 0.75% interest, a state “ government like Kentucky, which has the exact same credit rating as Philip Morris, [must] pay an interest rate of more than 2% over 3 years.”
    ​https://www.dailyposter.com/p/how-th...d-corporations

  22. #1197
    dangerous floater Winehole23's Avatar
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    eat and die if you didn't vote for Republicans

    https://en.wikipedia.org/wiki/%C3%84ttestupa


  23. #1198
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    Sure, the Dems by letting all of us twist in the wind. That's a great political strategy.
    They have never been forced to pay an electoral price for what they have done. And they're never going to be forced to pay a electoral price for it in the future.

  24. #1199
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    They have never been forced to pay an electoral price for what they have done. And they're never going to be forced to pay a electoral price for it in the future.
    Pelosi is taking the side of Labor against Capital, and

    Moscow Mitch knows his pro-Capital requirement, indemnification of employers, will block any agreement, which he simply doesn't want to do anyway.

    The more he can up America, the better for handing his pile to Biden and the Dems, and then blame it all on the Dems, just like in 2009.

  25. #1200
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