The S&P 500 rose to an all-time high on Tuesday, capping off its incredible recovery from the coronavirus-induced sell-off that knocked it off its previous record back in February…
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Justice Department Settles Claim Against California-Based Staffing Company for Favoring Temporary Visa Workers Over U.S. Workers…
…This is the tenth settlement under the Civil Rights Division’s Protecting U.S. Workers Initiative, which is aimed at targeting, investigating, and taking enforcement actions against companies that discriminate against U.S. workers in favor of temporary foreign visa workers…
U.S. Second-Quarter Productivity Rises At Its Fastest Pace in 11 Years…
U.S. worker productivity increased at its fastest pace in 11 years in the second quarter as hours plunged amid the COVID-19 pandemic, leading to an acceleration in labor costs…
New Unemployment Claims Drop Below 1 Million for First Time Since March…
First-time jobless claims totaled 963,000 last week versus the Wall Street estimate of 1.1 million.
Bankruptcies and Unpaid Rents Cost Mall Landlords Hundreds of Millions in Q2…
Mall operators have put numbers to the stresses of COVID-19 on the second quarter, with the ensuing mass closures, negotiations over rent and accelerating retail bankruptcies…
U.S. Bankruptcies Are Already a10-Year High As Pandemic Takes Its Toll…
Gold and silver sold off when Russia announced that it had an effective vaccine for coronavirus…
Feds Paid Social Security to Woman Who Died in 1971 — Almost $460k Checks…
Nephew charged with cashing funds issued to dead woman…
McConnell: Dems Won’t Allow ‘a Penny’ in Stimulus ‘Unless Texas and Florida Bail Out New Jersey’…
Senate Majority Leader Mitch McConnell argued on Monday that Democratic leaders view the coronavirus pandemic as a political “opportunity” to “bail out” states such as New Jersey, adding that Republicans are willing to support another coronavirus stimulus plan that includes funding for other areas.
McConnell said the Senate GOP’s coronavirus relief package “focused on kids, jobs, healthcare, and legal protections to help our country reopen,” as well as another round of direct stimulus payments.
“I’d hoped the Senate would be spending this week turning a major agreement into law, but sadly for the country, sadly for struggling Americans, the Speaker of the House of Representatives and the Senate Democratic leader decided we would not deliver any of that,” McConnell said during a speech on the Senate floor.
“They stayed true to their comments from very early on in the pandemic,” he added. “This is the way they looked at it. They saw this pandemic as, quote, ‘a tremendous opportunity to restructure things to fit our vision.’ That was the House Democratic Whip. Speaker Pelosi herself put it this way: ‘This is an opportunity. Every crisis is.’ Working families call this pandemic a crisis. They call it a nightmare, but leading Democrats call it an opportunity.”
McConnell described the $1 trillion state and local funding that House Democrats passed in the HEROES Act as one of the major disagreements in the stimulus negotiations with the White House…
Americans Are Growing Less Willing to Beg for Permission to Make a Living…
Officials claim doing business is a revocable “privilege,” but many Americans see it as a right that they’ll exercise with or without licenses and permits…
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Tennessee Valley Authority Bends to Trump and Says It Won’t Lay Off U.S. Workers…
The Tennessee Valley Authority is abandoning plans to lay off dozens of U.S. technology workers after President Trump, in a broadside against the power company earlier this week, fired two of its board members. “We were wrong in not fully understanding the impact on our employees, especially during the pandemic,” said Jeff Lyash, TVA’s CEO, […]
Trucking Co. Won’t Deliver in Cities Pushing to Defund, Disband Police Departments…
An Illinois trucking company is halting all pickups or deliveries in cities that are calling to defund or disband police departments, the co-owner of the company said during an Aug. 5 interview. Mike Kucharski, who co-owns Chicago-based JKC Trucking, said he wants to keep his drivers safe, even though it might affect the company’s revenue […]
July Jobs Report – 1.8 Million Jobs Recovered…
The Bureau of Labor Statistics released the July jobs report earlier this morning. Overall during this phase of the economic recovery the U.S. added 1.8 million jobs in July, with strong recovery in: Leisure and Hospitality (+592k), Retail Trade (+258k) and professional and business services (+170k). Strong steady gains continue in manufacturing, construction and transportation […]
Chinese-born Yu Meng, Who Invested California Public Employees’ Retirement Funds in Blacklisted Chinese Military Suppliers, Suddenly Resigns…
In March 2020, just weeks before California Gov. Gavin Newsom was “negotiating” a $1 billion mask deal with a Chinese company, National Security Adviser Robert O’Brien announced that the Trump administration was “looking at” investments in blacklisted Chinese military companies by the state’s public employees retirement system, known as CalPERS. There were also questions about […]
The Fed Created an Emergency Lending Program to Hold Interest Rates Down; the Tiny Country of Sri Lanka Was the Major User…
At Fed Chairman Jerome Powell’s press conference on July 29, he persisted in his explanation that all of the Fed’s bailout programs are really about helping the American people get back on their feet. Here’s one more, among a growing mountain, of reasons to question that. Sri Lanka is an island country situated in the […]
New York City Loses Hundreds of Billions in Wealth As Rich Resident Skip Town…
New York City’s total wealth has fallen by billions of dollars over the past year – amid a severe coronavirus outbreak that has driven the richest residents out of town. According to a report from New World Wealth and Webster Pacific, the combined wealth in the Big Apple fell by $336 billion in the 12 […]
Data Quirk Inflates Wuhan Virus Jobless Figures by 3.7M…
Figures for weekly job losses caused by COVID-19 are being inflated by adjustments the government uses in a normal year to smooth out seasonal factors and show broader growth patterns, according to one investment adviser. While Labor Department reports show more than 54 million Americans have filed for first-time unemployment benefits since stay-at-home orders were […]
Wall Street Banks that Got the Biggest Fed Bailouts Have Been Dogs to Shareholders over the Past 15 Years…
Federal Reserve Chairman Jerome Powell wants Americans to believe that the mega banks on Wall Street that hold trillions of dollars in federally-insured deposits, while peddling everything from high-risk derivatives to junk bonds to precious metals, “are a source of strength” during this economic downturn. The big problem for the Fed is the above two […]
Cuomo: U.S. Taxpayers Need to Fill New York’s Budget Gap…
The state of New York faces a budget deficit of $30 billion over the next two years thanks to the COVID-19 crisis, and Gov. Andrew Cuomo said Wednesday it’s up to the federal government to fill it. Without that help, Cuomo told reporters that funding for local governments and hospitals would take a significant hit. […]
President Trump Signs Executive Order Curbing H-1B Outsourcing of American Jobs…
President Donald Trump signed an executive order Monday which curbs the H-1B outsourcing of jobs at government agencies, including the government-controlled Tennessee Valley Authority. “We believe jobs must be offered to American workers first,” Trump told attendees at a signing event in the White House. Staffing companies have used the H-1B program to fill roughly […]
Related
Kodak Granted Chairman 1.75 Million Options the Day Before Trump’s $765 Million Loan to Company…
The day before a $765 million loan from the government was announced, Kodak granted its executive chairman Jim Continenza 1.75 million options as the result of what is being called an “understanding” with the Board of Directors. The options had not been listed in his employment contract, nor were they made public, according to Reuters. […]
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