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36871 executive options -- rank: 1000

[a little late...] New York Times - April 2, 2000 REPORT ON EXECUTIVE PAY Will Today's Huge Rewards Devour Tomorrow's Earnings? By DAVID LEONHARDT Over the last 15 years, as executive pay has soared and each new plateau has met with something of a public outcry, America's business leaders and their supporters have had a ready answer for the critics: Look at the stock market. In 1988, when the average pay of chief executives at large companies first topped $2 million, the Dow Jones industrial ave ...

Document Size:	18924
Author:	Doug Henwood
Date:	Tue Apr 4 13:15:51 PDT 2000

36872 Bears & Crashes -- rank: 1000

bill fancher wrote: >Please remind me why we've all been so eagerly awaiting a stock market >crash. How exactly will this benefit the people of the world? I think the thinking is - and I'm not sure if I agree - is that a bear market will break the spell of market fundamentalism and American triumphalism. I don't notice a great political upsurge in Japan after 10 years of stagnation, a possible fate for the U.S. should the bubble burst. We've had an upsurge in radical political activity in ...

Document Size:	4942
Author:	Doug Henwood
Date:	Tue Apr 4 13:06:04 PDT 2000

36873 God's country -- rank: 1000

[from Gallup's weekly update] Two of Three Americans Feel Religion Can Answer Most of Today's Problems 3/29/00 -- Two-thirds of all Americans believe that religion can answer all or most of today's problems, according to a recent Gallup poll. Large majorities of Americans also say that religion is "very" important in their lives, that they are members of a church or synagogue, and that they attend church on a regular basis. The poll also shows that belief in the relevance of religion f ...

Document Size:	6818
Author:	Doug Henwood
Date:	Tue Apr 4 11:44:50 PDT 2000

36874 Canada's anti-corporate crusader -- rank: 1000

Ken Hanly wrote: >Ms. >Klein is to the fashionable left as Calvin Klein to fashion. I disagree. I think No Logo is a very fine book, and she's very good on the radio. Her politics may not be as purely righteous as you'd like, but she's reaching a wider audience with a more radical message than any of the other people you listed. Popularity and wit always make a certain kind of leftist nervous, I know, but I thik we should get over that. Doug

Document Size:	4930
Author:	Doug Henwood
Date:	Tue Apr 4 11:41:23 PDT 2000

36875 good old American optimism -- rank: 1000

Jordan Hayes wrote: >That sounds bad, but is it really? Ok, so it's not 100% for retiring >float, but plenty of it is. Interest rates are at historical lows >and corporate bond issues are plentiful: why *not* swap locked-in >low rates in order to fund buybacks? Companies sold equity to >raise cash, for some companies it's the most expensive financing >they've ever had access to. Well it violates conventional finance theory: equity funding has never been so cheap. Firms shoul ...

Document Size:	5004
Author:	Doug Henwood
Date:	Tue Apr 4 11:22:49 PDT 2000

36876 Fwd: GSOC-UAW WINS THE NLRB DECISION -- rank: 1000

Date: Mon, 3 Apr 2000 23:25:38 -0400 (EDT) From: andrew ross <ar4 at is.nyu.edu> In a decision passed down today, the NLRB has affirmed that the graduate students of NYU are employees, entitled to union representation and collective bargaining. These rights have been established in the public sector for many years, but this is the first graduate student organization in the private sector to win the right to unionization, and thereby sets a legal precedent for all private universities. The ...

Document Size:	5228
Author:	Doug Henwood
Date:	Tue Apr 4 11:21:49 PDT 2000

36877 what they're reading at the WB -- rank: 1000

Harry Potter, among other things. Someone posted this to some list or other - the Amazon.com bestseller list for the World Bank. <http://www.amazon.com/exec/obidos/tg/cm/browse-communities/-/224301/book/st/002-4131593-8831418>. Doug

Document Size:	4776
Author:	Doug Henwood
Date:	Tue Apr 4 11:19:35 PDT 2000

36878 campus update -- rank: 1000

[from Sam Smith's Progressive Review] ON CAMPUS NIKE SAYS IT WILL TERMINATE ITS CONTRACT to provide hockey equipment to Brown University, citing Brown's decision to join the Worker Rights Consortium. Supporters of the WRC denounced the action as an attempt to discourage other campuses from joining . . . 31 COLLEGES AND UNIVERSITIES HAVE JOINED the WRC after student pressure . . . STUDENTS AT WESTERN MICHIGAN UNIVERSITY are planning to wrap themselves in red tape in solidarity with fasting Purdu ...

Document Size:	4820
Author:	Doug Henwood
Date:	Mon Apr 3 15:40:44 PDT 2000

36879 good old American optimism -- rank: 1000

Rakesh Bhandari wrote: >I don't think the American stock market is overvalued (though wow there's >a lot of room for relative movements of NASDAQ, Dow Jones, etc). "Over" and "under" are kind of subjective, but every valuation measure known is at record levels: P/E, price/dividend, market cap/GDP, and my favorite, the S&P divided by the average hourly wage. >There is >a shortage in supply of stocks due to buy backs (though NASDAQ will be >flooded by insider ...

Document Size:	5926
Author:	Doug Henwood
Date:	Mon Apr 3 15:37:23 PDT 2000

36880 good old American optimism -- rank: 1000

Rakesh Bhandari wrote: >I think Schiller does not pay sufficient attention to the objective >strenghtening of the US relative position after the end of the Cold War. >Schiller seems to think it's all a matter of subjective triumphalism. I agree that Shiller overdoes the subjective, but as he points out, the last several years' surge in stock prices is all the result of higher valuations. The great profitability surge was 1982-96. To justify today's valuations, profits would have to grow ...

Document Size:	5024
Author:	Doug Henwood
Date:	Mon Apr 3 12:23:24 PDT 2000

36881 WB notes its enemies -- rank: 1000

[from the World Bank's daily clipping service] AFTER SEATTLE, PROTEST REBORN. The last time opponents of global capitalism confronted the ranks of domestic law enforcement¾in Seattle, Nov. 30 to Dec. 3¾the results were clouds of tear gas, volleys of rubber bullets and the makings of a mass protest movement whose energy and appeal have surprised even some of its organizers, the Washington Post reports (4/2, p. A1). Round 2 is scheduled for April 16 and 17 in Washington, but protesters will begin ...

Document Size:	9654
Author:	Doug Henwood
Date:	Mon Apr 3 12:04:47 PDT 2000

36882 sagging stox = silicon woes -- rank: 1000

Wall Street Journal - April 3, 2000 The Outlook PALO ALTO, Calif. Last week's sell-off in technology shares jangled nerves in Silicon Valley. Elsewhere, economists debate whether falling stock prices could trigger a national recession by damping consumer spending. But when it comes to Silicon Valley, there's little room for dispute these days: Lower stock prices, particularly on the Nasdaq market, could provoke broader economic woes. In fact, many economists expect the next Silicon Valley recess ...

Document Size:	10065
Author:	Doug Henwood
Date:	Mon Apr 3 06:43:46 PDT 2000

36883 good old American optimism -- rank: 1000

Financial Times - April 3, 2000 New economy savaged by the same old bears Spring is here, hibernation is over, and the bears are out again. Warnings from Wall Street eminences such as Albert Wojnilower ("Some of us believe that the speculation has gone so far that there is no easy or painless way out") and perpetual harangues from Austrian School economists such as Kurt Richebacher suffuse the air we breathe. Even Goldman Sachs' Abby Joseph Cohen, whose optimism has always been tempere ...

Document Size:	10940
Author:	Doug Henwood
Date:	Mon Apr 3 05:56:12 PDT 2000

36884 Fwd: interviews for USWA organizing internships -- rank: 1000

[Jennifer Luff asked me to post this.] Friends: The United Steelworkers of America is recruiting summer organizing interns, and we're looking for committed activists to do research and work in the field on campaigns. Please see our posting below. I will be interviewing candidates at the NYU teach-in on Saturday, April 7, and at the IMF mobilization beginning April 14. If you are interested in the job or know of good candidates, please get in touch with me to set up a time for an interview. M ...

Document Size:	6536
Author:	Doug Henwood
Date:	Sun Apr 2 15:01:33 PDT 2000

36885 stock market -- rank: 1000

[bounced for an address oddity] From: "christian a. gregory" <chrisgregory11 at email.msn.com> Date: Thu, 30 Sep 1999 21:20:18 -0500 I think that Wade and Veneroso's point is that, in a country with an abysmal savings rate, the transfer of equity to corporations is in fact significant, even though it's small (about 1% of GDP). So in the U.S., the stock market does actually matter for consumption and investment in a way that debt does not--at least compared to Asian economies. (C ...

Document Size:	7887
Author:	Doug Henwood
Date:	Thu Sep 30 23:20:17 PDT 1999