Obama wont get the votes if people are getting layoff notices…
NEW YORK (CNNMoney) — The White House on Friday told government contractors worried about fiscal cliff spending cuts to hold off on warning employees about possible layoffs.
The government said it would cover legal costs if contractors are forced to slash their payrolls because of the looming $109 billion in automatic cutsnext year and are alleged to have violated the WARN Act.
From Economic Policy Journal:
Anyone who understands basic economics and how interventionist government leads to greater interventionist government knew this was going to happen.
Market price signals are destroyed, supply and demand distortions start to occur, and the regulative power centers are captured by insiders. Costs go up, care goes down, and the only solution the interventionists can think of are more interventions.
WSJ has the details:
So Boston’s latest adventure deserves particular scrutiny, since [...]
Next week a class-action civil lawsuit will be heard in San Jose to determine if Google, Apple, Pixar, Lucasfilm, Adobe, Intel, and Intuit conspired to eliminate competition for skilled labor. In anticipation of the hearing, TechCrunch has obtained evidence from the Department of Justice’s investigation in 2010 which was made public this evening for the first time. It appears to support the plaintiff’s case that the defendant companies tried to suppress employee [...]
Where do you think the money came from that turned insolvent banks into the country’s wealth control centers?
A startling statistic buried within an outstanding New Republic article:
As a result of the crisis and various government rescue efforts, the largest six banks in our economy now have total assets in excess of 63 percent of GDP (based on the latest available data). This is a significant [...]
When NJ governor Christi met with teachers to discuss their pay freeze, one woman complained that based on her education and experience, she was greatly underpaid. He told her perhaps she should do something else where her talents would be properly rewarded. I doubt that she took him up on it. I don’t believe she’d be able to duplicate her pay in the private [...]
“Private-industry employers spent an average of $27.42 per hour worked for total employee compensation in December, while total compensation costs for state and local government workers averaged $39.60 per hour.
The average government wage and salary per hour of $26.11 was 35 percent higher than the average wage and salary of $19.41 per hour in the private sector. But the percentage difference in benefits was much higher. Benefits for state and [...]