The Sunny Side of a Fabled Street
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Americans with savings invested on Wall Street have had a bumpy ride over the past year. Most share prices have at best stagnated since last spring. But that ride has been considerably smoother for the power suits who run the nation’s six biggest banks. This infographic originally appeared in Too Much, the Institute for Policy Studies commentary on excess and inequality. Click to www.toomuchonline.org for more.
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C H A P T E R O N E
The Corporation
and Its Stakeholders
Business corporations have complex relationships with many individuals and organizations in society.
The term stakeholder refers to all those that affect, or are affected by, the actions of the firm. An
important part of management’s role is to identify a firm’s relevant stakeholders and understand the
nature of their interests, power, and alliances with one another. Building positive and mutually ben-
eficial relationships across organizational boundaries can help enhance a company’s reputation and
address critical social and ethical challenges. In a world of fast-paced globalization, shifting public
expectations and government policies, growing ecological concerns, and new technologies, manag-
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all of their diverse stakeholders.
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LO 1-1 Understanding the relationship between business and society and the ways in which business and
society are part of an interactive system.
LO 1-2 Considering the purpose of the modern corporation.
LO 1-3 Knowing what a stakeholder is and who a corporation’s market and nonmarket and internal and
external stakeholders are.
LO 1-4 Conducting a stakeholder analysis and understanding the basis of stakeholder interests and power.
LO 1-5 Recognizing the diverse ways in which modern corporations organize internally to interact with
various stakeholders.
LO 1-6 Analyzing the forces of change that continually reshape the business and society relationship.
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Chapter 1 The Corporation and Its Stakeholders 3
law43665_ch01_001-024.indd 3 11/14/18 11:33 AM
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Wells Fargo Setting the Stagecoach Thundering Again
Wells Fargo: Setting the Stagecoach Thundering Again 1
Wells Fargo: Setting the
Stagecoach Thundering Again
Mahendra R. Gujarathi, Bentley University
Samir Kumar Barua, Former Director, IIMA
“The reason we wake up in the morning is to help our customers
succeed financially and to satisfy all their financial needs. The result is
we make money because of our focus on serving customers, not the
other way around. This time-tested vision will forever be what matters
to Wells Fargo. We’ll never put the stagecoach ahead of the horses.”
— John Stumpf, in the 2011 annual report of Wells Fargo1
The September 20, 2016 hearing of the Senate Banking Committee2 will be
remembered for the relentless grilling of John Stumpf, Chairman and CEO of Wells
Fargo (hereafter, Wells Fargo, or the Bank). Senator Elizabeth Warren (D-Mass.) began
with the question, “Have you returned one single nickel of the millions of dollars you
were paid while the scam was going on?” As Stumpf stuttered and fumbled in
responding to a series of incisive questions, she concluded, "So you haven’t resigned.
You haven’t returned a single nickel of your personal earnings. You haven’t fired a
single senior executive. Instead, evidently, your definition of accountable is to push the
blame to your low-level employees who don’t have the money for a fancy PR firm to
defend themselves. It's gutless leadership."3
The Senate Banking Committee hearing followed imposition of fines on Wells
Fargo on September 8, 2016 by the Consumer Financial Protection Bureau ($100
million), the Los Angeles City Attorney ($50 million) and the Office of the Comptroller
of the Currency ($35 million). The reason for the fines (totaling $185 million) was that
the Bank had allegedly opened over two million unauthorized checking and credit card
accounts without the consent of the customers between May 2011 and July 2015. Wells
Fargo settled with the regulatory agencies without admitting or denying the alleged
misconduct.4
The hearing of the House Financial Services Committee5 on September 29, 2016
echoed views expressed in the Senate Banking Committee hearing. Congressman
Gregory Meeks (D-New York) said to Stumpf, “I can’t believe what I’m hearing here.
You're going to tell me there's not a problem with the culture" at Wells Fargo. Patrick
McHenry (R-North Carolina) accused Stumpf of being “tone deaf” for how he didn’t
-----------------------------
Copyright © 2017 by Case Research Journal and by Samir Kumar Barua and Mahendra R. Gujarathi. All rights
reserved. The case was prepared by the authors for the sole purpose of providing material for classroom
discussion. It is not intended to illustrate either effective or ineffective handling of a managerial situation. The
authors would like to thank Professors Nader Asgary, Jill Brown, Atul Gupta, Mike Hoffman, and Joseph
Weiss for their comments on earlier drafts of the case. Research and editorial ass ...
Financial Journalism
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What is the price of an hour of leisure An hour of nonmarket wo.docx
What is the price of an hour of leisure? An hour of nonmarket work? What does it mean to say that leisure is a normal good? Why doesn’t the market supply curve for labor bend backward?
If work provides disutility, why do people ever engage in either market work or nonmarket work?
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What does it mean to say that the demand for a resource is a derived demand? Why does the supply curve of a resource slope upward?
Why does the division of resource earnings into economic rent and opportunity costs depend on the resource owner's elasticity of supply?
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McEachern, W. A. (2012). ECON Micro 3 (3rd ed.). Mason, OH: South-Western.
Case StudiesCase Studies
LABOR MARKETS AND LABOR UNIONS
Case Study 12.1: Winner-Take-All Labor Markets
Each year Forbes magazine lists the multimillion-dollar earnings of top entertainers and professional athletes.
Oprah Winfrey has made that list each year for more than two decades. Her annual income adds up. With wealth
now in the billions, she ranks among the world’s richest people. Entertainment and pro sports have come to
be called winner-take-all labor markets because a few key individuals critical to the overall success of an
enterprise are richly rewarded. For example, the credits at the end of a movie list a hundred or more people directly
involved in the production. Hundreds, sometimes thousands, more work behind the scenes. Despite a huge cast
and crew, the difference between a movie’s fi nancial success and failure depends primarily on the performance of just a few critical people—
the screenwriter, the director, and the lead actors. The same happens in sports. In professional golf tournaments, attendance and TV ratings are
signifi cantly higher with Tiger Woods in the mix. In professional basketball, LeBron James has been credited with fi lling once-empty seats and
boosting the value of his team by $160 million. Thus, top performers generate a high marginal revenue product.
But high productivity alone is not enough. To be paid anywhere near their marginal revenue product, there must be an open competition
for top performers. This bids up pay, such as the $20 million per movie garnered by top stars—about 2,000 times the average annual acting
earnings of Screen Actors Guild members. Simon Cowell reportedly earned $36 million judging American Idol in his fi nal contract year; he was
expected to leave that show to develop a new one that could earn him twice as much. In professional sports, before the free-agency rule was
introduced (which allows players to seek the highest bidder), top players couldn’t move on their own from team to team. They were stuck with
the team.
Americans and CEO Pay: 2016 Public Perception Survey on CEO Compensation
Americans and CEO Pay: 2016 Public Perception Survey on CEO CompensationStanford GSB Corporate Governance Research Initiative
Seventy-four percent of Americans believe CEOs are not paid the
correct amount relative to the average worker. Only 16 percent
believe they are. While responses vary across demographic
groups (e.g., political affiliation and household income), overall
sentiment regarding CEO pay remains highly negative.
Recently, the Rock Center for Corporate Governance at Stanford
University conducted a nationwide survey of 1,202 individuals—
representative by gender, race, age, political affiliation,
household income, and state residence—to understand public
perception of CEO pay levels among the 500 largest publicly
traded corporations....
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- Public policy can be defined as "anything a government chooses to do or not to do" according to Thomas Dye. This definition emphasizes that governments are the primary actors in public policy and their decisions, whether to act or not act, constitute public policy.
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Similar to The Sunny Side of a Fabled Street
2law43665_ch01_001-024.indd 2 111418 1133 AMC H A .docx
2
law43665_ch01_001-024.indd 2 11/14/18 11:33 AM
C H A P T E R O N E
The Corporation
and Its Stakeholders
Business corporations have complex relationships with many individuals and organizations in society.
The term stakeholder refers to all those that affect, or are affected by, the actions of the firm. An
important part of management’s role is to identify a firm’s relevant stakeholders and understand the
nature of their interests, power, and alliances with one another. Building positive and mutually ben-
eficial relationships across organizational boundaries can help enhance a company’s reputation and
address critical social and ethical challenges. In a world of fast-paced globalization, shifting public
expectations and government policies, growing ecological concerns, and new technologies, manag-
ers face the difficult challenge of achieving economic results while simultaneously creating value for
all of their diverse stakeholders.
This Chapter Focuses on These Key Learning Objectives:
LO 1-1 Understanding the relationship between business and society and the ways in which business and
society are part of an interactive system.
LO 1-2 Considering the purpose of the modern corporation.
LO 1-3 Knowing what a stakeholder is and who a corporation’s market and nonmarket and internal and
external stakeholders are.
LO 1-4 Conducting a stakeholder analysis and understanding the basis of stakeholder interests and power.
LO 1-5 Recognizing the diverse ways in which modern corporations organize internally to interact with
various stakeholders.
LO 1-6 Analyzing the forces of change that continually reshape the business and society relationship.
Final PDF to printer
Chapter 1 The Corporation and Its Stakeholders 3
law43665_ch01_001-024.indd 3 11/14/18 11:33 AM
Amazon—which some have called the “Earth’s biggest store”—is an important part of
many of our lives. We browse on Amazon, watch on Amazon, and buy on Amazon. We
freely disclose to Amazon our wishes, interests, and willingness to pay. You may well have
purchased or rented this textbook from Amazon.
In 2018, Amazon was the largest Internet retailer in the world, measured both by annual
revenue ($178 billion) and market capitalization (more than $800 billion). It was the
second largest private employer in the United States (after Walmart), with more than
540,000 employees (not counting the additional 120,000 or so temporary workers the com-
pany brought on each year during the busy holiday season).1 From its start in 1994 as a
scrappy Seattle start-up selling books online, Amazon had grown at an astonishing pace; in
2017, Amazon was responsible for fully 70 percent of all growth in U.S. online commerce.2
By 2018, the company’s founder and CEO, Jeff Bezos, had become the world’s richest
person, with a net worth greater than $100 billion.3 Shareholders in the company had been
richly rewarded; in early 2018, the price of Amazon’s stock was more than 12 ti.
Chapter 30 seiu demands economic reforms - SEIU demande des réformes économ...
SEIU demanded economic reforms following the 2008 financial collapse. The union protested large Wall Street bonuses paid after taxpayer bailouts. SEIU advocated for policies benefiting working families, including healthcare reform and the Employee Free Choice Act. The union also called for regulation of the private equity industry, citing job losses and debt loads imposed on acquired companies.
Briefing on banks and finance
The document discusses banking reform in the US following the financial crisis. It summarizes that the US Senate recently approved major banking reform legislation aimed at preventing future crises. However, critics argue the legislation may not go far enough to reform the system and prevent risks. Banks strongly resisted reforms and some continue risky trading practices. Overall, regulators have addressed some symptoms but not the systemic causes that could still enable future financial breakdowns.
Current events article summary
CEO of the People
Japan Airlines - Haruka Nishimatsu
CBS News - Feb. 8, 2009
Current Events Article Summary - Theodore V.G. Wolfs - MGT 453
Defying Gravity - 2016 Pioneer Summit Opening Keynote by Michael Moe
GSV co-founder Michael Moe opens the 2016 Pioneer Summit by outlining the most important megatrends and themes that are shaping the Industries of Tomorrow.
American Banker 2013 Powerful Women in Banking # Huntington_Final
This document discusses American Banker Magazine's 11th annual ranking of the Most Powerful Women in Banking and Finance. It provides details on the top 25 most powerful women in banking and finance, as well as an additional 25 "Women to Watch" who are up-and-coming leaders. It also recognizes four companies as having top teams for developing female talent. One of the top-ranked women, Mary Navarro of Huntington Bank, is profiled for her success in growing the bank's customer base significantly above industry averages through branch expansion and customer focus.
Don Meredith, CRPC – Proactive Advisor Magazine – Volume 6, Issue 5
Don Meredith • Lincoln Financial Advisors Corp.
- The Millennial obsession by David Wismer
- Global decline in oil prices leads to “Fracklog”
- VIX ETFs not right for investors by Tom McClellan
- A generational shift in target marketing (Bryce Winkel, Transamerica Financial Advisors Inc.)
Wells Fargo Setting the Stagecoach Thundering Again
Wells Fargo: Setting the Stagecoach Thundering Again 1
Wells Fargo: Setting the
Stagecoach Thundering Again
Mahendra R. Gujarathi, Bentley University
Samir Kumar Barua, Former Director, IIMA
“The reason we wake up in the morning is to help our customers
succeed financially and to satisfy all their financial needs. The result is
we make money because of our focus on serving customers, not the
other way around. This time-tested vision will forever be what matters
to Wells Fargo. We’ll never put the stagecoach ahead of the horses.”
— John Stumpf, in the 2011 annual report of Wells Fargo1
The September 20, 2016 hearing of the Senate Banking Committee2 will be
remembered for the relentless grilling of John Stumpf, Chairman and CEO of Wells
Fargo (hereafter, Wells Fargo, or the Bank). Senator Elizabeth Warren (D-Mass.) began
with the question, “Have you returned one single nickel of the millions of dollars you
were paid while the scam was going on?” As Stumpf stuttered and fumbled in
responding to a series of incisive questions, she concluded, "So you haven’t resigned.
You haven’t returned a single nickel of your personal earnings. You haven’t fired a
single senior executive. Instead, evidently, your definition of accountable is to push the
blame to your low-level employees who don’t have the money for a fancy PR firm to
defend themselves. It's gutless leadership."3
The Senate Banking Committee hearing followed imposition of fines on Wells
Fargo on September 8, 2016 by the Consumer Financial Protection Bureau ($100
million), the Los Angeles City Attorney ($50 million) and the Office of the Comptroller
of the Currency ($35 million). The reason for the fines (totaling $185 million) was that
the Bank had allegedly opened over two million unauthorized checking and credit card
accounts without the consent of the customers between May 2011 and July 2015. Wells
Fargo settled with the regulatory agencies without admitting or denying the alleged
misconduct.4
The hearing of the House Financial Services Committee5 on September 29, 2016
echoed views expressed in the Senate Banking Committee hearing. Congressman
Gregory Meeks (D-New York) said to Stumpf, “I can’t believe what I’m hearing here.
You're going to tell me there's not a problem with the culture" at Wells Fargo. Patrick
McHenry (R-North Carolina) accused Stumpf of being “tone deaf” for how he didn’t
-----------------------------
Copyright © 2017 by Case Research Journal and by Samir Kumar Barua and Mahendra R. Gujarathi. All rights
reserved. The case was prepared by the authors for the sole purpose of providing material for classroom
discussion. It is not intended to illustrate either effective or ineffective handling of a managerial situation. The
authors would like to thank Professors Nader Asgary, Jill Brown, Atul Gupta, Mike Hoffman, and Joseph
Weiss for their comments on earlier drafts of the case. Research and editorial ass ...
Financial Journalism
Economic journalism faces challenges in covering complex financial topics for general audiences. Major media outlets once dominated coverage but now face more competition from blogs and independent sources online. Journalists struggle with the speed and complexity of financial news, while also facing constraints from public relations. However, some efforts like Planet Money have found innovative ways to explain economic issues to broader audiences through multimedia reporting and entertainment-focused explanations. The future may involve more collaboration between reporters and use of new technologies to engage audiences.
What is the price of an hour of leisure An hour of nonmarket wo.docx
What is the price of an hour of leisure? An hour of nonmarket work? What does it mean to say that leisure is a normal good? Why doesn’t the market supply curve for labor bend backward?
If work provides disutility, why do people ever engage in either market work or nonmarket work?
What can cause the demand for a resource to shift?
What does it mean to say that the demand for a resource is a derived demand? Why does the supply curve of a resource slope upward?
Why does the division of resource earnings into economic rent and opportunity costs depend on the resource owner's elasticity of supply?
Your response should be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
McEachern, W. A. (2012). ECON Micro 3 (3rd ed.). Mason, OH: South-Western.
Case StudiesCase Studies
LABOR MARKETS AND LABOR UNIONS
Case Study 12.1: Winner-Take-All Labor Markets
Each year Forbes magazine lists the multimillion-dollar earnings of top entertainers and professional athletes.
Oprah Winfrey has made that list each year for more than two decades. Her annual income adds up. With wealth
now in the billions, she ranks among the world’s richest people. Entertainment and pro sports have come to
be called winner-take-all labor markets because a few key individuals critical to the overall success of an
enterprise are richly rewarded. For example, the credits at the end of a movie list a hundred or more people directly
involved in the production. Hundreds, sometimes thousands, more work behind the scenes. Despite a huge cast
and crew, the difference between a movie’s fi nancial success and failure depends primarily on the performance of just a few critical people—
the screenwriter, the director, and the lead actors. The same happens in sports. In professional golf tournaments, attendance and TV ratings are
signifi cantly higher with Tiger Woods in the mix. In professional basketball, LeBron James has been credited with fi lling once-empty seats and
boosting the value of his team by $160 million. Thus, top performers generate a high marginal revenue product.
But high productivity alone is not enough. To be paid anywhere near their marginal revenue product, there must be an open competition
for top performers. This bids up pay, such as the $20 million per movie garnered by top stars—about 2,000 times the average annual acting
earnings of Screen Actors Guild members. Simon Cowell reportedly earned $36 million judging American Idol in his fi nal contract year; he was
expected to leave that show to develop a new one that could earn him twice as much. In professional sports, before the free-agency rule was
introduced (which allows players to seek the highest bidder), top players couldn’t move on their own from team to team. They were stuck with
the team.
Americans and CEO Pay: 2016 Public Perception Survey on CEO Compensation
Americans and CEO Pay: 2016 Public Perception Survey on CEO CompensationStanford GSB Corporate Governance Research Initiative
Seventy-four percent of Americans believe CEOs are not paid the
correct amount relative to the average worker. Only 16 percent
believe they are. While responses vary across demographic
groups (e.g., political affiliation and household income), overall
sentiment regarding CEO pay remains highly negative.
Recently, the Rock Center for Corporate Governance at Stanford
University conducted a nationwide survey of 1,202 individuals—
representative by gender, race, age, political affiliation,
household income, and state residence—to understand public
perception of CEO pay levels among the 500 largest publicly
traded corporations....
BestCities_CLT_9.17.13
The document summarizes that while traditional tech hubs like Silicon Valley remain important, cities like St. Louis, Detroit, Charlotte and Austin are emerging as new hotspots for tech job growth. These cities have organizations that promote startups and tech entrepreneurship. St. Louis in particular has seen a 25% increase in tech job openings in the past year, with average salaries rising 13% to $81,000. Charlotte has over 550 companies increasing tech recruiting by 22% and its tech workforce growing 6% since last March. Detroit also has more tech career opportunities as over 1,100 openings are posted daily and companies invest in startups.
20120326c_Back To School-Cols Dispatch
This document summarizes the growing trend of baby boomers returning to college in their 50s and 60s to gain new skills and retrain for new careers due to job losses and downsized retirement accounts from the recession. It discusses how enrollment of older students at Columbus State Community College increased over 80% between 2007-2011, making them the fastest growing student group. It provides an example of 51-year-old Steve Newman who returned to college after being laid off from his engineering job of 25 years. Experts say retraining older workers is important for the economy as the labor force growth declines with retiring baby boomers.
Similar to The Sunny Side of a Fabled Street (13)
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Chapter 30 seiu demands economic reforms - SEIU demande des réformes économ...
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Defying Gravity - 2016 Pioneer Summit Opening Keynote by Michael Moe
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American Banker 2013 Powerful Women in Banking # Huntington_Final
American Banker 2013 Powerful Women in Banking # Huntington_Final
Don Meredith, CRPC – Proactive Advisor Magazine – Volume 6, Issue 5
Don Meredith, CRPC – Proactive Advisor Magazine – Volume 6, Issue 5
Wells Fargo Setting the Stagecoach Thundering Again
Wells Fargo Setting the Stagecoach Thundering Again
What is the price of an hour of leisure An hour of nonmarket wo.docx
What is the price of an hour of leisure An hour of nonmarket wo.docx
Americans and CEO Pay: 2016 Public Perception Survey on CEO Compensation
Americans and CEO Pay: 2016 Public Perception Survey on CEO Compensation
More from Institute for Policy Studies
Populism and Plutocrats: A Taxing Tale
Under Donald Trump's tax plan, the top 1% would see their after-tax incomes increase substantially, gaining over $250,000 on average. In contrast, Bernie Sanders' tax plan is designed to fund universal healthcare, and would significantly decrease after-tax incomes for the top 1%, costing them on average nearly $160,000. The Trump plan favors the wealthy over middle and lower income groups, while the Sanders plan aims to redistribute resources from the highest earners to support social programs.
Tracking Our World’s Relentless Rich
Since 2010, the world's poorest half has lost $1 trillion in wealth according to Oxfam, while the 62 richest billionaires now have as much wealth as the poorest 3.6 billion people combined - a group small enough to fit onto a single bus. Meanwhile, the world's richest 1% now hold as much wealth as the entire bottom 99% of the global population. Offshore tax havens play a key role in allowing wealth to concentrate, as the global rich have hidden $7.6 trillion in such havens, including many political and business leaders attending the World Economic Forum in Davos each year. Nine out of ten of the world's biggest corporations also have a presence in at least one tax
Taxing the Ultra Rich: A Little History
America’s 20 richest people — a group that could fit nicely in a Gulfstream luxury private jet – now own more wealth than the bottom half of the American population combined, a total of 152 million people, details the new Institute for Policy Studies Billionaire Bonanza report. One reason why America’s rich have amassed such large fortunes: The federal tax rate on income in the top tax bracket has sunk sharply over recent decades. This infographic also appears in Too Much, the inequality monthly. Check www.toomuchonline.org for more.
The World’s Wealthiest Top 1 Percent?
Most Americans sense the vast divide that separates America’s richest 1 percent from their fellow Americans. What many Americans don’t see: the huge gap between America’s wealthy and wealthy people everywhere else.
How to retire on $277,686 per month
The document summarizes the disparity between CEO and typical worker retirement benefits in the United States. Some key points:
- CEOs of large companies can defer unlimited annual contributions to their 401(k)s, while typical workers under 50 are limited to $18,000.
- SEC now requires companies to disclose the ratio between CEO and median worker pay annually.
- The average monthly retirement check for the top 100 US CEOs is $277,686, totaling $4.9 billion for their retirement funds.
- In contrast, the average retirement fund for a typical worker at Yum Brands (Taco Bell, Pizza Hut, KFC) is just $70,167,
The CEO Pay Reform that Terrifies CEOs
On August 5, the Securities and Exchange Commission adopted new federal regulations that require publicly traded U.S. corporations to start annually disclosing the ratio between their CEO and median — most typical — worker pay. Corporate America had spent the previous five years lobbying fiercely to kill this disclosure mandate. Here's why.
Wall Street Makes a Banker Billionaire
Lloyd Blankfein is the CEO of Goldman Sachs and has recently been certified as a billionaire by the American business press. Blankfein holds over 7,200 times more wealth than the typical American family in his age bracket of 55-64 years old. The document outlines how Goldman Sachs, led by Blankfein, used financial swaps to help mask Greece's debt crisis in 2001, earning large fees, but ultimately making Greece's fiscal problems much worse and leading to high unemployment and austerity measures in Greece in 2015. Critics argue Blankfein's performance and decisions at Goldman have had devastating impacts worldwide, including on the people of Greece.
Our New Executive Suite Swagger
The Great Recession initially deflated CEO paychecks big-time. Chief execs at the nation’s top 350 companies saw their inflation-adjusted compensation dip 44 percent between 2007 and 2009. But CEO pay, in the years ever since, has come roaring back.
How Much Does Inequality Cost You?
If you live in the United States, inequality costs you plenty. Newly released data from the OECD, the official economic research agency of the world’s developed nations, helps us see just how much.
Minimum Wage, Maximum Wage: New Paths to a More Equal America
This May 1, 2015 presentation to Democracy for Monroe County in Bloomington, Indiana examines the heavy price we pay for tolerating extreme inequality -- and explores how linking pay at the top to pay at the bottom just might start trimming our plutocracy down to democratic size.
The 400: America's Prime Number for Wealth
No number evokes inequality more than 400. In America’s original Gilded Age, 400 represented the number of guests who could fit inside Manhattan’s plushest private ballroom. A century later, in 1982, Forbes magazine began annually listing America’s 400 wealthiest. In 2003, the IRS started calculating totals for the nation’s top 400 incomes. The just-released latest IRS numbers cover through 2012.
Taxing the Rich and Living to Tell the Tale
High taxes in Scandinavia fund free child care and college education and a wide range of other quality public services. America’s low taxes -- on the rich -- have brought a tattered safety net and rising inequality.
Why Unions Matter: What History Tells Us
The lesson from America’s last century: The smaller the trade union footprint on our society, the greater our inequality.
Wall Street Bonuses: A Bottom-Up Take
State officials in New York put last year's average Wall Street bonus at $172,860. But that "average" obscures a vast divide between Wall Street's top execs and everybody else.
Inequality and Maryland's Future
This document discusses inequality in Maryland and around the world. It provides data showing that wealth and income are increasingly concentrated at the top, both globally and within the U.S. and Maryland. Research shows that greater inequality is associated with worse social outcomes like lower life expectancy, higher crime, and less environmental sustainability. The document argues for policies like stronger unions, higher taxes on the wealthy, and pay ratio limits between top executives and median workers to promote a more equal distribution of wealth and reduce the problems caused by growing inequality.
Sustaining Inequality: How Much Is Too Much?
A presentation by Sam Pizzigati, the editor of the online weekly Too Much, delivered as part of the UN Decade of Sustainability Speaker Series, Michigan State University, in East Lansing, Michigan, January 27, 2010
Is Warren 'Winning'?
A look at the victors and vanquished after a generation of unrelenting class war in the United States
Extreme Inequality: Starting a Strategic Conversation
How concentrated has wealth in the United States become? How did our wealth become so concentrated? Most importantly, how can we move toward a more equal United States?
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The Sunny Side of a Fabled Street
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