The fact is that in the 1980s and beyond, public companies began embracing a very different idea as to the purpose of a firm: the idea that the sole purpose of a corporation is to maximize shareholder value. In 2009, he famously declared that shareholder value is "the dumbest idea in the world. Despite these denunciations, the "pernicious nonsense" of shareholder value has spread. Shareholder value thinking, say Bower and Paine, "is now pervasive in the financial community and much of the business world.
President Trump has tweeted or stated multiple times that he inherited a mess from President Obama. When you look at the employment numbers, unemployment rate, GDP growth, the federal deficit, the stock market and trade it is apparent that Trump did not inherit a mess from Obama. Trump best GDP growth hasn't surpassed Obama's.
Rep. on Friday voiced frustration over Amazon's decision to not open up shop in her New York district, something fellow Rep. and other progressives fiercely opposed. "It used to be that we would protest wars, now we're protesting jobs. People are complaining about jobs coming. If this had gone through, it would have made overnight New York City the high-tech capital of the East Coast." Amazon announced in November that after a lengthy search process that involved fielding proposals from cities across the country that it would open its new H2Q offices in New York and northern Virginia.
Americans also pay hidden taxes, such as $300 billion annually in federal tax breaks given to businesses that provide health benefits to their employees - that's $1000 for every man, woman and child in the United States, 45 million of whom don't have any health coverage at all. The Bigger Picture of Our Tax BurdenA thorough "Tax analysis" would need to create a ledger in which all the supports and services Americans receive are listed on one side of the ledger, and the amount of taxes and any additional out-of-pocket expenses, fees and surcharges we pay are listed on the other. That's because the Forbes Tax Misery Index only takes into account income tax, Social Security or retirement tax, corporate tax, sales tax or VAT and a few other minor taxes.
In the three decades since the end of the Cold War, economics has enjoyed a kind of intellectual hegemony. Let me be clear: Economics remains a vital discipline, one of the most powerful ways we have to understand the world. Economics remains a vital discipline, one of the most powerful ways we have to understand the world.
Investing.com - Gold prices moved higher on Friday as a string of weak economic data and subdued inflation supported the Federal Reserve's current stance of being "Patient" with future rate hikes, lowering the opportunity cost of holding non-yielding bullion. China's consumer price inflation unexpectedly slowed, while factory-gate inflation hit its weakest level since September 2016.Stateside, U.S. import prices fell for a third-straight month in January, leading to the largest annual drop in nearly 2-1/2 years. "The data suggest that the Fed will find it even harder to justify another rate hike given the record low inflation expectations," Curtin added.
The Commerce Department said retail sales tumbled 1.2 percent, the largest decline since September 2009 when the economy was emerging from recession. Data for November was revised slightly down to show retail sales edging up 0.1 percent instead of gaining 0.2 percent as previously reported. BROAD WEAKNESS. In December, online and mail-order retail sales dropped 3.9 percent, the biggest drop since November 2008.
Price inflation reduces the purchasing power of future bond coupon payments and of the principal that you eventually get back when the bond matures. Instead of exaggerating inflation risk like most bonds, they eliminate inflation risk because the higher inflation we get, the more the I Bonds pay. Buy a bond or bond fund, and you're taxed each year as the coupon payments are made.
Google also reportedly used "Jet Stream LLC" to quietly purchase the land. "We didn't know that it was Google until after it passed." My gut reaction, reading it, was to wonder whether Google decided to publish that blog post last week - the one about how it's investing $13 billion in America by opening data centers and offices across a wide swath of the US - at least partly so it could get out ahead of this reporting.
The German finance ministry's worries that Germany's scope for stimulus is limited-because it might possibly run a deficit of well under a percent of GDP in 2023-just aren't that convincing. A stimulus could put Germany's massive excess savings to work at home, and thus reduce the risks that German savers are now taking abroad. Keeping the labor market relatively tight would help German wages continue to grow, helping to support demand throughout the euro area-and right now Germany's European partners could use a bit of a lift. Well, the aggregate result of the Commission's projections was a rise in the headline fiscal deficit for the euro area from 0.6 pp of GDP to 0.8 pp of GDP. And with German borrowing costs still falling, a 0.4 pp primary expansion in Germany implies something like a 0.3 pp change in the headline fiscal balance, so a general government surplus that would still be close to 1.5 pp of German GDP.....
With their growing reach into the U.S. economy and in the face of greater political scrutiny, tech giants including Google and Amazon are on a tear to expand - but communities now see their arrival more skeptically for the disruption, environmental impact and higher cost of living they often bring, as well as the incentives they seek, despite their deep pockets. "If you scrutinize the winners and losers in this bargain, you see that Google is overwhelmingly the winner. Google has a strategic interest in getting their name out of these deals so that they go down more quietly, without public debate." Lenoir, N.C., where Google announced in 2007 that it would build a data center, agreed to treat as a trade secret information about energy and water use, the number of workers to be employed by the data center, and the amount of capital the company would invest, according to the documents.
IV Uniform Pricing A second characteristic of many online retailers -including Amazon-is that each good tends to have the same posted price regardless of the location of the buyer, a pricing strategy that is often referred to as "Uniform pricing." Uniform pricing in online retailers has been documented in the academic literature before. 25 Embargoed until presentation time of 8:00 a.m. Mountain Daylight Time, August 25, 2018 Table 7: Price Sensitity to Exchange Rate Over Time By Period Full Sample 2008-2012 2013-2017 0.16 0.31 0.12 0.04 0.25 0.44 0.38 0.83 0.23 0.79 0.45 0.91 Panel A: Online US Price Indexes Short-Run Long-Run Panel B: Matched Relative Prices Food & Beverages Electronics Consistent with the increase in the frequency of price changes observed in the micro data, the short-run effect of exchange rates on online price indices has doubled over time, from 12% to 25%. The long-run effect is higher at 31%, as expected. 26 Embargoed until presentation time of 8:00 a.m. Mountain Daylight Time, August 25, 2018 An alternative way of measuring the long-run sensitivity of retail prices to the nominal exchange rate is to estimate a relative price regression in levels using matched-product prices across countries, as in Gorodnichenko and Talavera: z us,z ln pus + ln + us,z t i,t , i,t /pi,t = where pus i,t denotes the price of good i at time t in the U.S., z is another us,z country, et is the nominal exchange rate defined as the number of U.S. dollars per unit of z. The coefficient is the estimate of long-run exchange rate passthrough into relative prices.
To strengthen your business, keep only the clients with whom you have a good relationship, who consistently use your problem-solving services and who are loyal to your business. Clients are the center of your business, and e-mail or telephone calls can't take the place of a personal visit. Your clients' power resides in their level of contentment with your services, and your power lies in determining the best and the most profitable actions to take with your clients. Develop an attitude of service to show your clients that they are important to you, and put that attitude into action every day. Practice the strategies above so you can better embrace change, meet client demands and combine action with a positive attitude.
Mr. de Blasio is mayor of New York City.Feb. 16, 2019.The first word I had that Amazon was about to scrap an agreement to bring 25,000 new jobs to New York City came an hour before it broke in the news on Thursday. Support for the new headquarters was strongest in communities of color and among working people who too often haven't gotten the economic opportunity they deserved. Amazon's path in New York would have been far smoother had it recognized our residents' fears of economic insecurity and displacement - and spoken to them directly.
In such cities the changes have effectively weakened existing curbs brought in over the past year to tame speculation. While hefty living costs, soaring property prices and pollution have seen some reverse in flow from top-tier cities to provincial capitals, the wages gap is a big turn off. Official data on Thursday showed China's new home prices accelerated to a five-month high in December, with property prices in tier-2 cities recording the strongest price growth. The Chengdu government, in a faxed response to Reuters' questions, said it did not set the bar excessively low for outsiders, stressing the importance of attracting talent as the city aspires to mirror the success of China's top-tier cities. China's State Council Information Office, which doubles as the Communist Party's communications arm, said the moves undertaken by the tier-2 cities would only increase the size of qualified home buyers "By a small scale".
President Trump has exposed the dirty secret of drug pricing: There is a shadowy third player in the transaction between patients and their pharmacists: middlemen who have taken a big kickback from the drug manufacturer, which may or may not be reflected in patients' out-of-pocket costs. These back-door deals in health care undermine his vision for drug pricing and are completely unacceptable. As it is, drug companies regularly raise prices on many medications, because the higher prices allow them to make larger kickback payments, in the form of rebates, to the drug plans that decide which drugs are covered by insurance. Without these kickbacks, the single biggest incentive to raise prices every year will be eliminated, and prices can come down. Proposing direct discounts at the pharmacy counter is just part of the Trump agenda for fairer, more transparent prices in health care.
BERLIN - Recent data point to a weakening euro zone economy, the European Central Bank's Olli Rehn told Germany's business daily Handelsblatt on Sunday, adding that interest rates would remain at the current level until monetary policy goals have been met. "Yes, the most recent data point to a weakening of the economy," Rehn, the Finnish central bank chief, said. He attributed it to greater uncertainties outside the euro zone, such as the trade conflict between the U.S. and China. Asked about a shift in market expectations of future rate hikes being pushed back to later in 2020, Rehn said: "I don't comment on market developments. But our monetary policy orientation is clear. We have said that rates will be at their current level until we have sustainably reached our monetary policy goal."
Stocks have been euphoric about the potential for a trade deal between the U.S. and China, but the bond market has been acting gloomy and has been more focused on uncertainty and the chances for a recession. "One of these markets is going to be wrong, and it's hard to know this time around which one it's going to be," said Art Hogan, chief market strategist at National Securities. Buyers have been jumping into both markets, and the broader stock market is now up 18 percent from the low it plunged to on Dec. 24. Vinay Pande, head of trading strategies at UBS Global Wealth Management, said that the bond market is not trading as if it were reflecting the same growth expectations of the stock market. "The bond market is really trading like it's a reinsurance market," where reinsurers will raise prices with each successive event: If there were hurricanes five years in a row, they would still charge as though another hurricane was expected in the sixth year.