Layoffs announced at multiple companies this summer
Mario Gabelli, chairman and CEO of Gamco Investors, talks sports investing and the surge in small-cap stocks on “The Claman Countdown.” Over the summer, various companies announced job cuts. The planned job cuts are expected to have a collective impact on thousands of people working in industries including technology, media and automotive. Companies that have […]
Fewer Americans want companies to speak out on public policy: Survey
A new Gallup poll finds that just four in 10 Americans want corporations to have a say in public policy. a Recent Bentley University and Gallup According to a new Gallup article, polls have found that 38 percent of Americans “believe that companies generally should take public positions on current events.” In recent years, there […]
Chair Jordan demands answers from dozens of major companies tied to shadowy ‘collusive’ ad group
One of the most influential committees in Congress has sent letters to dozens of America’s biggest companies, demanding an explanation for their involvement in an advertising alliance that it says may be a Republican attempt to silence conservative voices in the media and journalism. “The Judiciary Committee oversees the adequacy and enforcement of America’s antitrust […]
Drug companies confident Medicare price deals won't hit bottom lines
Pharmaceutical company chief executives who are suing to block the Biden administration’s Medicare price negotiation law have told shareholders and analysts that the final price proposals will not have a significant impact on their companies’ profits. Comments from executives at companies including Pfizer, Bristol-Myers Squibb, Johnson & Johnson and AbbVie suggest the price cuts may […]
Private companies added just122,000 jobs in July, less than expected
Olu Omodunbi, chief economist at Huntington Private Bank, said on “The Craman Countdown” that the jobs report points to a slowdown in the labor market. U.S. companies started hiring more slowly than expected in July, according to the ADP national employment report released Wednesday morning, signaling that the labor market continues to cool on the […]
Senate passes bill to protect kids online and make tech companies accountable for harmful content
The Senate overwhelmingly passed a bill aimed at protecting children from dangerous online content on Tuesday, advancing the first major effort by Congress in decades to hold tech companies more accountable for the harm they cause. The bill, which passed with 91 votes in favor and 3 against, was pushed by parents whose children had […]
Elon Musk is spending $45m a month to elect Trump. Let’s boycott his companies | Robert Reich
I have long argued that the concentration of great wealth in the hands of a few undermines our democracy. Elon Musk is emblematic of those concerns. Wealth is most dangerous when it is transformed into political power. One way Musk is turning his enormous wealth into political power is commit $45 million/month New Super PACs […]
FTC launches investigation into surveillance pricing tactics of credit card companies
The Federal Trade Commission ordered eight companies to share information about surveillance pricing to study its effects on privacy, competition, and consumer protection. In a press release, the FTC announced it had issued orders to Mastercard, Revionics, Bloomreach, Chase, Task Software, PROS, Accenture, and McKinsey & Co. The agency said these eight companies use artificial […]
Paid summer internships plunge as major US banks, companies trim costs
Wall Street banks and other large companies are cutting paid summer internships in an effort to cut costs, reportedly increasing competition for the few attractive jobs that remain. Goldman Sachs is hiring 200 fewer summer analysts this year than it will for 2023, while JPMorgan is cutting its summer analyst class by 600, more than […]
AZ Supreme Court Says No to Sweetheart Deals for Private Companies
Estimated Reading Time: 2 minutes In a major victory for taxpayers, the Arizona Supreme Court ruled unanimously today that the city of Peoria violated the state Constitution’s Gift Clause when it gave away nearly $2.6 million to two private businesses who promised nothing in return to the public, but only to run their own businesses for their own private […]