resident bush: because the sheeple never learn.

Too Much Is Never Enough

War on Greed: [Have it whose way?]

The treatment of workers at Burger King, bought in 2002 by a consortium of private equity firms including Goldman Sachs, stands in stark contrast to the extravagant bonuses awarded to Goldman’s bailed-out bankers. The relationship between Burger King and Goldman Sachs is a troubling example of the current balance between labor and capital. Burger King has been a repeat offender of the Federal Labor Standards Act and has lobbied to stop the passage of the Employee Free Choice Act, which would make it easier for its poorly paid workers to unionize. Read on.

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SEIU: GOLDMAN SACHS

* Goldman received $10 billion in taxpayer bailout money and then paid out $6.5 billion in bonuses. Goldman, along with other stakeholders in AIG, received up to $37 billion in bailout funds associated with its rescue.

* Goldman is a top owner of Burger King controlling the fast food company’s board along with TPG and Bain Capital. From 2006 to 2008, Burger King has spent $319,648 in lobbying, including lobbying against the Employee Free Choice Act.

* Together with other top Burger King owners, Goldman allows the fast food company to cost taxpayers an estimated $273 million a year because workers lack access to affordable employer health coverage, are paid sub-poverty wages, and must rely on publicly-funded healthcare, income support, and food stamp programs.

* Lloyd Blankfein, the CEO of Burger King owner Goldman Sachs, netted over $70 million in total compensation in 2007, the most ever for a Wall Street CEO. Burger King chief executive John Chidsey received total compensation of nearly $5.4 million in 2008.

* Burger King fast food workers struggle to get by on a median wage of $6.93 per hour. For full-time employees, this wage amounts to just over $14,000 annually, well below the federal poverty line for a family of three.

* The Goldman Sachs bonuses alone could have provided an $18,000 pay increase for each of Burger King’s 360,000 corporate and franchise employees more than doubling a worker’s $14,000 annual salary and contributing to a meaningful economic stimulus by putting discretionary income in the hands of hundreds of thousands of American families.

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posted 17th February 2009:

[Our Unsustainable, Affluent Society] When one understands a little about the global situation, the enormous moral problem set by rich world affluence becomes glaringly obvious. Only a few live as we do. Billions of people are very poor. Millions do not get enough to eat. They are deprived of resources while we in rich countries can only have affluent living standards because we consume far more than our fair share. It is very difficult to disagree with Gandhi’s statement, “the rich must live more simply so that the poor may simply live.”

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[PostCarbon: Zero Sum Game] As more people arrive at the table, everyone nervously eyes the remaining crumbs, anxious to avert a free-for-all but also keen to avoid being left out. Welcome to the post-peak economic meltdown!

Unless previous beliefs about the sacredness of unlimited fertility (and the corresponding proof-of-masculinity afforded by the siring of many offspring) can be openly questioned and honestly discussed in these new circumstances, the cognitive dissonance between long-held beliefs and deep-seated biological urges on one hand, and the painful awareness of ecological and economic limits on the other, is likely to lead to a kind of societal explosion that will take the forms of heightened demographic competition and intercultural violence.

One Comment

  1. Allison says:

    GREAT blog! I wish you updated more often because you are AWESOME!

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