Jake Johnson at Common Dreams writes—To Curb Capitalism's Toxic Impacts, Warren Unveils Plan to Give Workers More Control Over Corporate Decisions: Taking aim at the heart of America's toxic economic status quo—which has over the past several decades produced soaring corporate profits and CEO pay while keeping workers' wages stagnant—Sen. Elizabeth Warren (D-Mass.) introduced legislation on Wednesday that would «give workers a stronger voice» in the decision-making of major businesses and put an end to corporations' single-minded commitment to maximizing shareholder value at the expense of employees. «Because the wealthiest 10 percent of U.S. households own 84 percent of American-held shares, the obsession with maximizing shareholder returns effectively means America's biggest companies have dedicated themselves to making the rich even richer,» Warren noted in a Wall Street Journal op-ed outlining her new measure. «For the past 30 years we have put the American stamp of approval on giant corporations, even as they have ignored the interests of all but a tiny slice of Americans. We should insist on a new deal.» [...] To address this fundamental inequity and establish a system in which prosperity is broadly shared rather than hoarded at the very top, Warren's bill—officially titled the Accountable Capitalism Act—would: Require American corporations that bring in over a billion dollars in annual revenue to obtain a federal charter, which would force companies to «consider the interests of all corporate stakeholders,» including workers, customers, and communities; Give workers the power to elect at least 40 percent of corporate board members; Ban corporations from making political expenditures «without the approval of 75 percent of its directors and shareholders»; and Allow the federal government to revoke a corporation's charter if it engages in illegal behavior. [...] The folks at CNBC hosted economist Jeffrey Miron Wednesday to take a whack at Warren’s proposal, which he says will destroy capitalism. Miron is director of Economic Policy Studies at the D.C.-based Cato Institute, the Koch-founded and -funded libertarian propaganda operation. Miron offers the same bogus argument that the NRA gives for opposing requiring all gun-buyers to get a background check: Only «honest» and «law-abiding» companies will comply, meaning it is those companies that also will bear the brunt of the regulatory burden, and, ultimately, those companies that will leave the U.S. for countries with friendlier regulations. Crooked companies will flee, in Miron’s view, just as wannabe gun-owners who can’t pass a background check will buy their firearms from the trunk of someone’s car. The message: We shouldn’t have any laws that protect us from bad corporate decision-making because they’ll take their bad decision-making away if we do? Indivisible’s list of Resistance Events & Groups HIGH IMPACT STORIES QUOTATION “To say that the first casualty of war is truth is to miss the rather more important point that a principal weapon of war is lies.” ~~Harry M. Collins, The Golem at Large: What You Should Know About Technology (1998) TWEET OF THE DAY xHey, I just got home from Denmark. It's an absolute hellhole of pleasant holiday homes, very nice cars, cute restaurants, and bike-and-pedestrian-friendly cities. The socialist nightmare in full. https://t.co/pTbWqwvqsY— Paul Krugman (@paulkrugman) August 15, 2018 BLAST FROM THE PAST On this date at Daily Kos in 2011—No, Michele Bachman didn’t attend that ‘family reunion’: There was a story yesterday about Bachmann apparently lying about attending her own family reunion, which was ... well, just odd, and not just because it was her own mom who sold her out: On her victory lap of Iowa yesterday, Straw Poll winner Rep. Michele Bachmann paid repeated tribute to her local roots, and repeatedly mentioned her family reunion that day, citing it as an excuse for her late arrival at a local party event in Waterloo. But Bachmann's mother and two cousins told POLITICO's Emily Schultheis that Bachmann didn't attend the reunion, though her husband and children did. Her spokeswoman, Alice Stewart, didn't respond to two emails asking for an explanation of the disparity. On today’s Kagro in the Morning show, Greg Dworkin rounds up primaries, polls & headlines. Will these stupid tapes matter? Or does nothing matter? (lol yolo, etc.) The Hatch Act certainly doesn't seem to. Trump spreads the emoluments love to White House staff, with club pro shop discounts. x Embedded Content RadioPublic|LibSyn|YouTube|Patreon|Square Cash (Share code: Send $5, get $5!) LINK TO DAILY KOS STORE
In a rare rebuke, morning show host Brian Kilmeade has conceded that President Donald Trump had been “outsmarted”
Meanwhile, both she and former White House press secretary Sean Spicer attack Omarosa’s credibility (and the media)
Twitter’s decision to suspend Alex Jones on Tuesday for seven days is a reversal from its previous defense of him
Sun Pharm hit a 52-week high of Rs 618, up 3%, extending its Tuesday's 7% rally on the BSE.
The e-tailer is vying to buy Landmark Theatres, a chain owned by Mark Cuban, Bloomberg reports.
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A sharp surge in trade deficit, which soared to a near five-year high of USD 18 billion, too impacted the rupee
The country's moon lander and rover was scheduled to leave this year, but has been delayed till January next year.
Messaging company Line is continuing to burrow deep into the crypto space after it announced the launch of a $10 million investment fund. The fund will be operated by Line’s Korea-based blockchain subsidiary Unblock Corporation, which is tasked with research, education and other blockchain-related services. The fund will be called Unblock Ventures and it’ll initially have […]
Pantera Capital, which has made its mark in recent years by investing early and often in a wide variety of digital assets, is looking to raise up to $175 million for its third venture fund — an enormous jump from the $25 million it deployed for its second venture fund and its $13 million debut […]
Facebook marked the first anniversary of its birthday fundraisers by revealing that more than $300 million in donations have been raised through the feature, which lets users mark their birthdays by creating a donation drive for an organization of their choice. About 750,000 non-profits currently have access to Facebook’s fundraising tools (but not every user, […]
Twitter’s API changes won’t come out until tomorrow, but its ramifications are already being felt. Tapbots released an update today to Tweetbot for iOS that loses many of the Twitter client’s most popular or essential features. It also removed its Apple Watch app. In Tweetbot’s App Store release notes, Tapbots explained “on August 16th Twitter […]
The Earth's building blocks seem to be built from 'pretty normal' ingredients, according to researchers working with the world's most powerful telescopes. Scientists have measured the compositions of 18 different planetary systems from up to 456 light years away and compared them to ours, and found that many elements are present in similar proportions to those found on Earth. This will have implications for finding Earth-like bodies elsewhere.
While running Molly’s, the Seattle-based ready meal wholesaler he founded, Stefan Kalb was upset about its 28 percent food wastage rate. Feeling that the amount was “astronomical,” he began researching how to lower it — and was shocked to discovered Molly’s was actually outperforming the industry average. Confronted by the sheer amount of food wasted […]
TRURO, Mass. (AP) - The Latest on a Cape Cod shark attack (all times local): 8 p.m. An organization that studies sharks says shark encounters in which people are injured like what happened off the coast of Cape Cod are as «terrifying as they are rare.» The Atlantic White Shark ...
COUGAR, Wash. (AP) - The Latest on an Ohio man found alive after he went missing nearly a week near Mount St. Helens in Washington state (all times local): 5:16 p.m. The parents of an Ohio man found alive after he went missing nearly a week ago on a hike ...
SALT LAKE CITY (AP) - The U.S. government on Wednesday issued proposals for managing two national monuments in Utah that were significantly downsized by President Donald Trump last year, saying its preference for one of the sites would be the «least restrictive to energy and mining development.» The Bureau of ...
TRURO, Mass. (AP) - The Latest on a Cape Cod shark attack (all times local): 6:50 p.m. Witnesses to a Massachusetts shark attack on a man say the man was swimming far off the beach. The man was attacked Wednesday afternoon while swimming off the popular summer tourist destination Cape ...
COLUMBIA, Mo. (AP) - In a story Aug. 11 about a museum exhibit on fake news, The Associated Press erroneously reported that curator Clyde Bentley was a professor at the University of Missouri School of Journalism. He is an emeritus associate professor at the school. The AP also incorrectly reported ...
COUGAR, Wash. (AP) - Authorities say an Ohio man has been found alive after he went missing nearly a week ago on a hike near Mount St. Helens in Washington state. The Cowlitz County Sheriff's Office said Wednesday in an emailed statement that 40-year-old Matthew B. Matheny was found alive ...
Harrison Bader made a spectacular diving catch in center field to steal a hit from Bryce Harper and scored on a wild pitch in the Cardinals' win over the Nationals on Wednesday night.
LEADING OFF: Braves-Marlins melee, Cards soaring, Lester up
Rivera returns from DL, homers in 9th as Angels sweep Padres
Rene Rivera hit a go-ahead homer in the ninth inning
Ramirez scored both goals for LAFC before the 30 minute mark