
It's also that big business has found a way to make big money without restoring the jobs it cut the past two years, or increasing its investments or even its sales, at least domestically.How can this be? What, have businesses turned into a bunch of amateur magicians or something? Are they pulling money from hats and pockets and sleeves? Nope, says Meyerson. It's even easier than that:
Great. So basically, companies are going overseas for work and refusing to invest in their companies here at home. Meanwhile, they rake in the profits while ordinary Americans continue to experience record and long-term unemployment due to the vast shutdown of the private sector job market. As the Washington Independent reports:Ever adaptive, they have evolved a business model that enables them to make money even while the strapped American consumer has cut back on purchasing. For one thing, they are increasingly selling and producing overseas. General Motors is going like gangbusters in China, where it now sells more cars than it does in the United States. In China, GM employs 32,000 assembly-line workers; that's just 20,000 fewer than the number of such workers it has in the States. And those American workers aren't making what they used to; new hires get $14 an hour, roughly half of what veterans pull down.
The GM model typifies that of post-crash American business: massive layoffs, productivity increases, wage reductions (due in part to the weakness of unions), and reduced sales at home; increased hiring and booming sales abroad. Another part of that model is cash retention. A Federal Reserve report last month estimated that American corporations are sitting on a record $1.8 trillion in cash reserves. As a share of corporate assets, that's the highest level since 1964.
There are more than 30 million people left without work at some point during the course of the recession; 14.6 million are currently unemployed. As many as 4 million people have exhausted the maximum weeks of federal and state unemployment benefits.But companies don't care. They no longer seem to feel the slightest obligation--to workers, to families, to communities. The last vestiges of the mantra of shared responsibility, of investment in America, seems to have vanished along with our pensions and our 401ks. Look at the workers at the Mott's factory in Williamsburg, NY, forced on strike because their highly profitable employers decided to take advantage of the recession to try to cut workers' benefits and wages, and freeze their pensions.
Moderating the discussion at Netroots Nation was Mark Lauritsen, UFCW
international vice president and director of Food Processing, Packing and
Manufacturing Division, who opened with an emotional recounting of both the
positive and negative sides of immigration, particularly in the meatpacking
industry and how employers use immigration as a tool to oppress workers...
Lauritsen first turned to state Rep. Kyrsten Sinema (Ariz.) who gave
her take on S.B. 1070, Arizona’s anti-immigration law. Sinema described it as
misguided. The lesson Sinema takes from Arizona is that if Congress doesn’t act,
those who want comprehensive immigration reform must respond proactively with
localized legislation rather than waiting for federal action. Immigration reform
is a problem that needs a federal solution, but Sinema argues that we cannot
wait.
Giving a perspective from the law enforcement side, Arturo
Venegas, an immigrant, Vietnam veteran and former chief of police for the city
of Sacramento, laid out the risks of legally codified racial profling and how
enforcement-only tactics are insufficient. Law enforcement officers like Chief
Venegas are some of the most powerful voices on immigration reform and we all
owe a great debt to all the brave officers who have spoken out against racial
profiling as an enforcement tactic.
Looking beyond enforcement, Adam Luna, political director at America’s Voice, described the political implications of immigration reform, particularly how popular comprehensive immigration reform is, and how candidates and activists can talk about immigration.
Rounding out the panel discussion, Think Progress blogger, former UFCW communications specialist and immigrant from Guatemala, Andrea Nill, addressed the coordinated opposition to immigration reform and outlined who’s funding it and how they operate...For more, click here.
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