I think it’s starting to sink in those thick skulls that a lot of people are very, very angry with the corporate elite : Left-wing activists claimed responsibility for a minor explosion on Thursday at a hotel in Davos, close to where top executives and world leaders were meeting, but nobody was hurt. Devin Wenig, CEO of Thomson Reuters’ Markets division, was in a breakfast meeting of senior executives at the hotel when the explosion happened. “A huge boom went off. The whole ceiling lifted. Everyone was convinced it was a bomb,” he said. “It took a half hour to reassemble the meeting.” Participants were later told that a boiler had exploded, he added. The Forum’s main programme was not disrupted. A group calling itself Revolutionary Perspective said in a statement on an activist website it had targeted the luxury Posthotel with a firebomb and said Swiss ministers and representatives of top bank UBS were staying there. “Our fight against the dictatorship of capital is focused on the social alternative to capitalism: communism,” the group said in the statement . Someone noted yesterday that the makeup of the Egyptian demonstrators had changed — that the middle class had broken through the “fear barrier” and had now taken to the streets. Think about that, because all over the world, the fear barriers are starting to fall and this is a huge threat to the global establishment, the very people who flock to Davos each year for the World Economic Forum: Poverty and unemployment reared their heads at the World Economic Forum on Thursday, with speakers urging the elite audience to bridge a growing gap between booming multinationals and the jobless poor. Greek Prime Minister George Papandreou, who also chairs the Socialist International group of center-left parties, said the global crisis had led to an “unsustainable” race to the bottom in labor standards and social protection in developed nations. “Politically, I believe we are at a turning point where… there are signs in Europe of more nationalism, more racism, anti-Muslim, anti-Semitism, fundamentalisms of all types,” he said. “We need to look to a different model.” Maurice Levy, chairman and chief executive of French advertising giant Publicis, said there was “a huge suspicion about CEOs, bankers, corporations.” “People do not understand that these large corporations are doing extremely well, while their lives have not improved and without the support of the people, there is no way we will be able to grow,” he told a panel discussion. “We have been led by greed. We have been led by only the bottom line, the profit and we have sacrificed the workers in order to please the stockholders.” Former U.S. President Bill Clinton said tackling income inequalities was essential to future growth and needed to be part of the core of doing business in the 21st century .
Continue reading …Violent protests have spread across the Egyptian capital, Cairo, and other Egyptian cities as tens of thousands of demonstrators intensified their campaign to oust President Hosni Mubarak. Protesters have been pouring out from mosques after noon prayers on Friday and clashing with police who fired tear gas, rubber bullets and water cannons to disperse the crowds. This video explains the geographic spread of Cairo protests. Al Jazeera is mapping Egypt’s ‘day of wrath’ – visit this link on our website: bit.ly – for more information.
Continue reading …enlarge In the LA Times, Barbara Ehrenreich writes about one of my favorite topics: Namely, things that do and do not get Americans upset and angry. This is the key section: Threaten the Greeks with job losses and benefit cuts and they tie up Athens, but take away Americans’ jobs, 401(k)s, even their homes, and they pretty much roll over. Tell British students that their tuition is about to go up and they take to the streets; American students just amp up their doses of Prozac. [B]ut when the eminent social scientist Frances Fox Piven brought it up at the end of December in an essay titled “Mobilizing the Jobless,” all hell broke loose. An editor of Glenn Beck’s website, theblaze.com, posted a piece sporting the specious headline “Frances Fox Piven Rings in the New Year by Calling for Violent Revolution,” and, just two weeks before the Tucson shootings, the death threats started flying. Many of the most provocative comments have been removed from the site’s comment section, but at one time they included such charming posts as: “Bring it on biotch [sic]. we’re armed to the teeth.” Readers of this blog are obviously quite familiar with this sort of behavior. But as Ehrenreich sharply notes, ’twas not always thus: During the depression of 1892 to 1896, unemployed workers marched to Washington by the thousands in what was then the largest mass protest this country had seen. In 1932, even more jobless people — 25,000 — staged what was, at that time, the largest march on Washington, demanding public works jobs and a hike in the inheritance tax. From the ’60s to the ’80s, Americans marched again and again — peacefully, nonviolently and by the hundreds of thousands — for civil rights, women’s rights, gay rights, economic justice and against wars. In fact, this has been a major focus of Piven’s scholarly work over the years — the American tradition of protest and resistance to economic injustice — and it’s a big enough subject to keep hundreds of academics busy for life. I would argue a coupla reasons for this: First, the abandonment of organized labor by much of the Democratic Party and some segments of the too-obsessed-with-identity-politics professional left has placed a real rift between liberals and many blue-collar folks who now feel no one represents them. As Sen. Jim Webb put it last year after the Dems’ election debacling: People look up say, what’s the difference between these two parties? Neither of them is really going to take on Wall Street. If they don’t have the guts to take them on, and they’ve got all these other programs that exclude me, well to hell with them. I’m going to vote for the other people who can at least satisfy me on other issues, like abortion. This is sadly true. But the other aspect of this story is equally depressing: As a culture we’ve internalized Atlas Shrugged and have learned to view rich people as our morally superior overlords. I’ll never forget the moment I realized that our entire country was suffering from a collective mental disorder. It happened when the Wall Street Journal went out and talked to some of the people who inadvertently made hedge fund manager John Paulson very, very rich because they could no longer afford payments on their houses. Essentially, Paulson, with an assist from the Fabulous Fab and Goldman Sachs, created a portfolio of horrendously crappy mortgages and then shorted it by taking out credit default swaps on it. In other words, the more people who stopped making mortgage payments and lost their homes, the better Paulson’s portfolio performed. So anyway, when the Journal asked some of these folks how they felt about Paulson growing rich from betting on their personal misfortune, here’s what one of them said : In 2006, Mr. Booket got hit by a car while riding a motorcycle from a late-night party, was unable to find much work and couldn’t pay the bank. In October 2008, he lost the house to foreclosure and plans to move out by next week. He says he bears no grudge against Mr. Paulson and Goldman. “The man came up with a scheme to get rich, and he did it,” says Mr. Booket, who had refinanced his mortgage just months before the accident. “So more power to him.” Buh-guh-buh-guh-guh. OK, let’s use a sports analogy (I just love sports analogies). Imagine that LeBron James suffered a season-ending knee injury during the first game of the 2011 NBA playoffs. And imagine that someone came up to him afterward and said, “Well, LeBron, there is some upside to your misfortune. A retired doctor who is now a full-time investor has spent the last three years watching the stress you’ve been putting on your knee with awkward pivots and he took out billions in credit default swaps because he thought it wouldn’t be long before you suffered a catastrophic injury. And now that your ACL and MCL have blown out, he’s stinking rich! Doesn’t that make you feel better?” Do you think LeBron would actually give the guy credit and say, “More power to him?” HAAAAAAIIIIILLLLL NOOOOOOOOO . We live in a bizarre and depraved culture when it comes to money, my friends.
Continue reading …Washington Post media reporter Paul Farhi dug deep into the Juan Williams firing investigation at National Public Radio on Friday, and found that the woman who fired him, senior vice president Ellen Weiss (who later was also dismissed), drew resentment inside NPR for a set of layoffs in 2008, including the man who started her NPR career, Alex Chadwick. He says she laid him off as he was in the middle of his wife's appointment with a cancer specialist: Chadwick, who worked at NPR for almost 30 years (and had hired Weiss as a newsroom temp in 1981), thought Weiss had used the cost-cutting directive as an excuse to purge her critics. He was especially incensed at the way she informed him that his job was being cut: via a phone call while Chadwick was in the middle of an appointment with his wife's cancer specialist. Carolyn Jensen Chadwick, who died last year from the disease, had been a longtime editor at NPR when her job was eliminated by Weiss a few years earlier. According to Chadwick's cellphone log, Weiss called to fire him from his wife's old office at NPR. “That was just a dagger to the heart,” he said. The Williams firing shook loose resentment against Weiss inside NPR: An internal investigation launched by NPR's board in the wake of the Williams affair broadened into questions about Weiss's command of the newsroom. While several employees acknowledged her role in building NPR into a radio-news powerhouse and emerging digital-news player, they also questioned her methods. More than a dozen NPR employees, including some of its well-known hosts, aired long-standing grievances to investigators about Weiss's management style, particularly the way she had carried out a series of layoffs and terminations in 2008. Weiss's decision to fire Williams without benefit of a face-to-face meeting sounded familiar to those who recounted similar episodes, according to people who spoke with the investigating team. More damning was the suggestion – hotly disputed by people close to Weiss – that Weiss had preempted her boss, [NPR CEO] Vivian] Schiller, in telling Williams that he had to go. All sides agree that the events of Oct. 20, two days after Williams said he was “nervous” flying with fellow passengers in “Muslim garb,” were fast-moving and somewhat muddled. Weiss and other managers were at NPR's offices in Washington; Schiller was in Atlanta, preparing to make a speech. She was available only intermittently via cellphone. One top-level manager at NPR describes a day that was “extremely rushed. There was confusion and miscommunication.” Investigators found that evidence undelined that Schiller's timeline of the Williams firing was more reliable than the memory of Ellen Weiss. Farhi added that Weiss also infuriated minorites inside NPR: Weiss incurred resentment, too, from NPR's minority journalists, who had long questioned the organization's commitment to a diverse newsroom. She won no friends in this group by canceling “News and Notes,” a daily program about African American culture and personalities, during the 2008 cuts. She also eliminated the job of Doug Mitchell, who had been running an in-house development program for young journalists that brought several promising minority staffers to NPR. The minority issue would factor into the discussion among NPR's managers about Williams. Given that Williams was the only African American man regularly heard on NPR's flagship news programs, Schiller, Weiss and others inside the organization were sensitive about moving too quickly to oust him, lest the action be interpreted as racially insensitive. “Do I think NPR kept Williams on for years, as the relationship degraded, because he is a black man? Absolutely,” wrote Farai Chideya , a former host of “News and Notes,” in the Huffington Post after Williams's firing. “Williams' presence on air was a fig-leaf for much broader and deeper diversity problems at the network. NPR needs to hire more black men in house on staff as part of adding diverse staff across many ethnicities and races.” Weiss appeared to understand that. Before her ouster, she supported the hiring of a new vice president for diversity in news, Keith Woods, and two new staff positions dedicated to reporting news about minority communities.
Continue reading …According to the official WikiLeaks Twitter account, “[Vice President Joe] Biden says Assange is a ‘terrorist’ and Mubarak is ‘no dictator’—and should not step down. Biden is a dangerous fool.” Then followed an overnight torrent of tweets calling attention to fresh leaks about Egypt’s brutal regime. One of those messages said , “Help us spread the last two days of cables into Egypt through neighboring media and sat tv.” The Egyptian government has shut down almost all channels of communication, including Internet and SMS service, in response to civil unrest. One new cable details a meeting between Sen. Joseph Lieberman and Gamal Mubarak, son of the Egyptian president. Another discusses the fate of Yemeni children reportedly brought to Egypt for organ harvesting. A 2009 cable from Ambassador Margaret Scobey says “Torture and police brutality in Egypt are endemic and widespread.”
Continue reading …Given the chance to interview Katie Couric, I wouldn't ask her what newspapers she reads.
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