Friday, October 23, 2009
The Obama administration plans to cut executives' pay at companies that received taxpayer money as part of the financial bailout. Meanwhile, the Federal Reserve says it will monitor bank pay packages in the hopes of deterring payouts that reward overly-risky behavior. For a look at what this means for recruiters we're joined by Joe Nocera, business columnist for The New York Times.
Thursday, October 22, 2009
According to Bloomberg News, Wall Street bonuses are on track to increase by 40 percent this year. But as our partner The New York Times reports, the Obama administration will order the companies that received the most aid from the bailout to slash the pay of their top earners. According to officials who spoke to the paper, seven companies will have to cut the paychecks of the 25 highest-paid executives by an average of about 90 percent from last year. More companies will have to curb special perks like country club memberships and private planes. We look at how much the government should be involved in setting private salaries with New York Times reporter Stephen Labaton; Paul Hodgson, senior researcher at The Corporate Library; and Steve Kaplan, professor of finance at the University of Chicago's School of Business.
Thursday, October 15, 2009
In the high-volume debate about heath care reform, one major player has been notably quiet: the health insurance industry. For the most part, the industry has given faint support to reform, but that changed this week. Health insurance companies are buying up ad time in a number of key states as part of a coordinated push to make sure their concerns remain part of the reform debate. We speak to Brad Fluegel, executive vice president and chief strategy and external affairs officer for the health insurer WellPoint. We hear also from Robert Zirkelbach, a spokesperson for America’s Health Insurance Plans (AHIP), a trade group for insurance companies; and Jon Gruber, a health care economist at MIT who helped Massachusetts develop its universal health insurance plan.
EDITOR'S NOTE: After our segment aired, Jon Gruber disclosed that he has been paid at least $297,600 by the Department of Health and Human Services to model costs and effects of health care reform for the Obama Administration. We did not discover or disclose that in our interview.
Friday, September 25, 2009
Up on Capitol Hill, lawmakers are talking a good game about the need to regulate banks and enforce limits on executive salaries. But how close are we to real reform on these issues, and what's going to happen at the G-20? For an insider's view of the process of reforming banking, we speak to Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee. (click through for the full interview transcript)
Wednesday, September 23, 2009
Last week close to a million New Yorkers received a special edition of the New York Post emblazoned with the giant headline: "We're Screwed!" Plausible as the headline seemed, the paper was not the work of the Post staff, but rather an elaborate prank by The Yes Men, a group dedicated to pranking for change. We talk to one of the two Yes Men, Mike Bonnano (his partner-in-pranks, Andy Bichlbaum, would have joined us, but is still in jail after being arrested yesterday) about their goals, their pranks and their agenda for the week. We also talk to Steven Heller, co-chair of MFA design at the School for Visual Arts, about whether such pranks change conversations in a positive way or just distract from important topics.
For more from the Yes Men, check out their movie, The Yes Men Fix the World, which opens nationally on October 23rd, or read their book The Yes Men: The True Story of the End of the World Trade Organization.
Lately the Yes Men have been touting the benefits of a new product, the Survivaball. Click through for more videos from the Yes Men:
Friday, September 18, 2009
Are you a company that is "too big to fail?" Well, Congress hopes, someday, to have a plan for you. Louise Story, finance reporter for The New York Times, joins us with a look at the federal government's latest moves to prepare for failures of the future.
Thursday, June 18, 2009
President Obama has proposed sweeping changes to the regulation of the country's financial system. But do these changes actually address the root causes of our financial crisis? For one view, we turn to Eliot Spitzer, former Attorney General and Governor of New York. When he was Attorney General he made a name for himself suing companies like AIG for deception, fraud and boosting the company’s stock price. He also discusses his personal feelings at having to watch the unfolding crisis as a bystander and not as political leader.
"Rearranging the deck chairs does not fundamentally alter the fact that the regulators had the power over the past few years."
— Eliot Spitzer on financial reform
Wednesday, June 17, 2009
In his new book Life Inc.: How the World Became a Corporation and How to Take It Back, author Douglas Rushkoff says that to get out of the current economic crisis, Americans must rethink their relationship with companies like Wal-Mart. He favors local economies, local currencies, and even the old-fashioned concept of getting to know your neighbors. He joins The Takeaway with more.
For a sneak peek at the book, here's a brief film of Life, Inc.
Thursday, June 11, 2009
"Banking is different than many other industries in that the government is really compelled. It doesn't have an option. It's compelled to bail out the banks when they get in trouble or the whole economy and society collapse."
— Business professor Peter Morici
Thursday, April 02, 2009
Monday, March 30, 2009
What's your take? Leave a comment below or record your story at 1-877-8-MY-TAKE.
Friday, March 06, 2009
— Blogger Robert Farago on the state of General Motors
Thursday, February 05, 2009
Thursday, January 15, 2009
Read Simon Romero's article, Chávez Allows West to Make Oil Bids as Prices Plunge, in today's New York Times.
The video below is one of Chavez's more outspoken moments at the United Nations.
Wednesday, January 14, 2009
Thursday, December 18, 2008
For more on this story, read Louise Story's article in the New York Times, On Wall Street, Bonuses, Not Profits, Were Real .
Wednesday, December 17, 2008
Tuesday, December 16, 2008