Corporations

Governor Walker Spins New Jobs Out of Whole Cloth

Submitted by Jennifer Page on

Wisconsin Governor Scott Walker (AP photo by Morry Gash)Wisconsin Governor Scott Walker has pledged to create 250,000 new jobs in Wisconsin. He has an interesting way of going about it. Dan Bice of the Milwaukee Journal Sentinel reported that Walker visited Curt Manufacturing near Eau Claire, Wisconsin last week to award the state manufacturing plant a $625,000 transportation grant and congratulate himself for creating 125 extra jobs as a result. "This project directly creates 125 new jobs and indirectly creates 129 jobs, resulting in $12.6 million in annual wages right here in Wisconsin," Walker said in a news release. "By providing these funds, we are bringing quality jobs to Wisconsin while improving road access to Curt Manufacturing's expanded facility." But credit for the same 125 jobs was already claimed back in December by then-Governor Jim Doyle when the Department of Commerce announced the administration was giving the same company $400,000 in tax credits and $11 million in tax-free bonds under a 2009 stimulus program. Doyle said the extra money would "create 125 extra jobs and result in $12.8 million investment to the community." Could the firm be creating 250 new jobs? Er, no says a company spokesman. Curt has committed to adding 125 positions by 2014. So Walker simply ladled out an extra $625,000 for the same 125 jobs. That amounts to a whopping $96,000 in taxpayer support per job. Let's hope they pay more than minimum wage.

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Main Source: 
Milwaukee Journal Sentinel, April 24, 2011
Topics: 
Corporations
Democracy
Economy
Politics
Wisconsin

Insurers Getting Rich By Not Paying for Care

If I had stayed in the insurance industry, my net worth would have spiked between 4 p.m. Wednesday and 4 p.m. Thursday last week -- and I wouldn't even have had to show up for work.

Mr. MonopolyI'm betting that just about every executive of a for-profit health insurance company, whose total compensation ultimately depends on the value of their stock options, woke up on Good Friday considerably wealthier than they were 24 hours earlier. Why? Because of the spectacular profits that one of those companies reported Thursday morning.

Among those suddenly wealthier executives, by the way, are the corporate medical directors who decide whether or not patients will get coverage for treatments their doctors believe might save their lives.

Action Item: Draft Executive Order Would Promote Election Disclosure, Call the President!

The White House is circulating a draft Executive Order requiring disclosure of contributions to "third party" or "independent" expenditure groups by corporations receiving government contracts. During the 2010 elections, much of the unlimited election spending made possible by the U.S. Supreme Court's Citizens United decision was kept secret by groups taking advantage of the 501(c) section of the tax code. The President's proposed order would lift the veil on secret spending in time for the 2012 elections.

GOP's Medicare Plan Would Be a Windfall for Insurers

Rep. Paul Ryan's plan to privatize Medicare would accelerate a trend started several years ago by corporate CEOs and their political allies to shift ever-increasing amounts of risk from Big Business and the government to workers and retirees.

Rep. Paul Ryan (R-Wisconsin)If enacted, the Ryan plan would represent a windfall of unprecedented proportions for insurance corporations and other businesses.

For millions of average Americans, many of whom already are finding it impossible to save for retirement, it would represent financial calamity. The nation's middle class would pay dearly for Ryan's proposed shredding of the social safety net that Medicare currently provides.

Nebraska Bill Would Increase Election Spending Accountability

Submitted by Rebekah Wilce on

NebraskaThe Nebraska legislature gave unanimous first-round approval in late March to LB606, a measure  to close a loophole in state campaign funding regulation which currently allows organizations like Americans for Prosperity (AFP) to spend unlimited funds to influence state politics without filing finance reports with the state Accountability and Disclosure Commission, as long as they can claim that they don’t specifically advocate voting for or against a candidate. AFP “spent tens of thousands of dollars in the 2010 Nebraska elections,” but doesn't file finance reports with the state, arguing that its efforts represented "educational’ efforts” -- everything but specifically advocating voting one way or another. AFP also claimed the exemption because they’re registered as a corporation in Nebraska, not a campaign committee or political action group. The proposal by Sen. Bill Avery of Lincoln, NE “would require AFP and any similar outfits to report their campaign spending to the Nebraska Secretary of State so that everyone would be able to know who’s spending money to influence the election -- regardless of whether they urge specific support or opposition for a candidate.”

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Main Source: 
Nebraska StatePaper.com, March 22, 2011
Topics: 
Activism
Corporations
Democracy

Taxpayers Demand Chase Bank Pay its Fair Share

tax dodger bannerAt a rally held in front of Chase Bank on Capitol Square in Madison, Wisconsin today, a few dozen people gathered to air their grievances against Chase and other U.S. corporations who will pay no taxes for 2010. Jeff Kravat of MoveOn hosted the rally along with Gene Lundergan, who gathered a group of four or five people to present a tax bill of almost $2 billion to the branch bank manager. This bill, for $1.988 billion, was drawn up using Chase's 2010 10-K filing with the Securities and Exchange Commission (SEC) and a December 2008 U.S. Government Accountability Office (GAO) report (pdf). When Lundergan, Steve Hughes of Young Progressives and several others approached the front entrance of the bank, they were refused admission by the security guard, so they left the bill propped in the front window.

Big Soda Uses Philanthropy to Silence Opposition, Neutralize Soda Taxes

Submitted by Anne Landman on

Pepsi productsAs evidence mounts linking sugar consumption to increasing rates of heart disease, cancer and diabetes, the soda industry is fighting back, in part by ramping up philanthropy and developing partnerships. After the Philadelphia City Council introduced a measure to add a two-cent tax on soda, the soda industry's lobbying group, the American Beverage Association created the "Foundation for a Healthy America," a new front group that donated $10 million to the Children's Hospital of Philadelphia -- to expand its obesity program. The soda tax would have raised about $20 million for obesity prevention programs plus even more money for the city's general fund. Despite this, the soda tax proposal fizzled and Philadelphia's City Council declined to revisit the issue. In a similar move, Coca Cola funded a North Carolina School of Public Health campaign against childhood obesity. The slogan? "Everything in moderation." Even the Robert Wood Johnson Foundation issued a report titled (pdf) "F as in Fat: How Obesity Threatens America's Future," which contains an odd "personal perspective" written by Pepsi CEO, Indra Nooyi, that reads like a press release. Nooyi boasts about Pepsi's partnership with the YMCA, promotes the company's "responsible advertising" and a self-regulatory project in which the company apparently monitors its own advertising to children under 12.

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Main Source: 
The Atlantic.com, Marion Nestle, March 24, 2011
Topics: 
Corporate Social Responsibility
Issue Management
Public Relations

Are Seniors Paying Attention to Paul Ryan's Medicare Plan?

Americans were misled by insurance industry rhetoric about health reform Tea Party members who railed against health care reform because of the spin they were sold about how "Obamacare" would affect Medicare played a big role in returning the House of Representatives to Republican control.

I'm betting that many of them, if they're paying attention to what Rep. Paul Ryan (R-Wisconsin) wants to do to the Medicare program, are having some serious buyer's remorse. If Democrats are wise, they're already drafting a strategy to remind Medicare beneficiaries, including card-carrying Tea Party members, just how fooled they were into thinking that Republicans were the protectors of the government-run program they hold so dear.

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