by John Harrington
When the financial crisis hit the global economy in late 2007, there was a “reset,” not only on the U.S. economy in general and financial institutions specifically, but a major reordering of the labor market and American workers. This crisis represented the ending bell for the middle class, including upward labor mobility and decent jobs that included healthcare and retirement benefits. It also, unlike previous recessions, resulted in a major and continuing decline of labor-force participation in our economy.
Read More »
A recent Harvard Business Review (HBR) case study asked the question “Do Business and Politics Mix?” The study was based on a fictionalized company that chose to donate to a super PAC promoting political candidates with strong pro-business platforms. The contributions had a negative impact on the company when one of the candidates it supported took a controversial stance against gay marriage and news of the company’s connection to him spread. The case is based on dilemmas faced by leaders in real companies trying to determine the cost and benefits of making political campaign contributions. Read More »
Napa, CA — Harrington Investments, Inc. (HII), a socially responsible investment advisory firm with more than 30 years of experience directly challenging corporate power, is asking Starbucks to be clear with shareholders about who is ultimately responsible for keeping the company’s sustainability promises. Read More »
Napa, CA — Harrington Investments, Inc., (HII) a 32-year-old investment firm advocating socially responsible behavior by corporations, is kicking off a new campaign this fall, fighting for shareholders seeking corporate accountability reform.
Read More »
The Wall Street Journal reported that the National Labor Relations Board (NLRB) has ruled the McDonald’s Corporation can be treated as a joint employer with its franchisees in labor complaints. The ruling could have far-reaching implications for how the company deals with workers and the violation of their rights.
Read More »
Over the past year there has been a sudden flurry of U.S. companies taking advantage of a loophole that allows them to avoid paying U.S. corporate taxes by reincorporating overseas. Called “inversion”, large companies such as Pfizer and Omnicom Group have already tried to employ this gimmick to shore up their bottom lines, while leaving U.S. taxpayers holding the bag. Now one of the most American of companies, Walgreens, which in some areas of the U.S. has stores every few miles or even every few blocks, is considering joining the fray.
Read More »
The US Chamber of Commerce
calls it “minoritarianism, the tyranny of a minority”. Dan Gallagher of the Securities and Exchange Commission says annual meetings have been “hijacked” by “corporate gadflies”
. Leo Strine, the chief justice of Delaware, where most big US companies are registered, says shareholder democracy
has wrought a “constant ‘model UN’ where managers are repeatedly distracted by referendums on a variety of topics proposed by investors with trifling stakes”.
Read the entire article in The Financial Times
There has been lots of controversy over the U.S. Postal Service’s plan to sell off dozens of post office properties across the country by a real estate firm chaired by the husband of the Senior U.S. Senator from California, presumably to raise money to save the agency. Instead of privatizing the post office, there may be a better way to raise revenue for the post office by providing financial services for many who need access to credit and short-term capital.
Read full article in the Huffington Post
I am bursting with pride and admiration that the Wall Street Journal’s May 23, 2014 editorial “Good News in the Proxy Wars” clearly and unequivocally defended the right of large, defenseless and badly treated corporations to continue to refuse to disclose the millions of dollars they launder to politicians and ballot measures through 501C4 “social welfare” organizations such as the Chamber of Commerce and Business Roundtable.
Read More »
Almost four years ago, I wrote about a new non-profit check cashing and payday lender that opened in the Fruitvale area of Oakland, California in the San Francisco Bay Area. This alternative to private sector financial parasites, for-profit check cashers and payday lenders, has not only survived, but is growing stronger by the day.
Read the full article in The Huffington Post