Last year, U.S. corporate outlays for stock buybacks totaled $800 billion. In May this year, corporate CEOs bought back $174 billion worth of their shares – not one making America’s companies more creative or productive

Last year, U.S. corporate outlays for stock buybacks totaled $800 billion. The buyback pace this year has quickened, as top execs rush to “invest” the savings they’re realizing from the GOP corporate tax cut enacted last December. In May alone, corporate CEOs bought back $174 billion worth of their shares, “an all-time record” for a single month. None of these buyback billions will …

What’s a public bank? States or municipalities use reserves for a public mission and the needs of the public it represents, such as local investments and local businesses

https://youtu.be/xiYaEIwbwbg VIDEO: An Introduction to Public Banking, by In Context Report (7:23) A Public Bank is a chartered depository bank in which public funds are deposited. It is owned by a government unit — a state, county, city, or tribe — and mandated to serve a public mission that reflects the values and needs of the public that it represents. In existing and proposed US …

A window into substantive, material economic weakness and risk

By Gil Friend in GreenBiz, May 2018 “If you extrapolate from these documents and case law and the COP21 agreement, then some 90 percent of the world’s business models must be transformed to net-zero GHG business models by 2050.”  First in a two-part series on business risk and strategic duty. My sustainability work over the past several decades has focused …

Richmond, California Files Lawsuit Against Chevron, Others For Climate Damages

From DeSmogBlog By Farron Cousins • Tuesday, January 23, 2018 – 11:33  Share342  Tweet  Reddit3  Share0  Share The city of Richmond, California is the home of oil giant Chevron’s domestic headquarters. It also happen to be the ninth city in the United States to file a lawsuit against fossil fuel companies for their contributions to global climate change. The lawsuit filed by the city lists Chevron …

“Swirling in the air in Davos at the World Economic Forum was an important discussion of how companies must do far more to benefit the 99 percent, not just the 1 percent

“Swirling in the air here in Davos at the World Economic Forum, along with snowflakes, was an important discussion of how companies must do far more to benefit the 99 percent, not just the 1 percent. Enriching shareholders is not enough. Tycoons always claim to cherish ordinary people’s best interests even as they rip them off. American tobacco executives have killed …

No More Fairy Tales: Why the United States Needs a Whole New Operating System

BY THOMAS LINZEY Here’s one final New Year’s resolution: let’s stop lying to each other. Let’s stop lying about the state of the planet and what it will really take to fix it. Let’s stop lying about who the “founding fathers” were and what kind of constitution they wrote. Let’s stop lying to each other that we can fix everything by …

Major corporations are planning to spend more than 30x what they are putting in the wallets of employees on buying back their own stock, benefiting wealthy shareholders

Washington Post By Rick Wartzman and William Lazonick, February 6, 2018  Rick Wartzman, director of the KH Moon Center for a Functioning Society at the Drucker Institute at Claremont Graduate University, is author of “The End of Loyalty: The Rise and Fall of Good Jobs in America.” William Lazonick is an economics professor at UMass Lowell and president of the Academic-Industry Research Network. Don’t …

RE100 electricity purchases going up: Corporations purchased a record 5.4 gigawatts of clean power in 2017 through PPAs

January 23rd, 2018 by Joshua S Hill on Clean Technica  Corporations around the world signed a record volume of Power Purchase Agreements in 2017, amounting to 5.4 gigawatts of clean energy by 43 companies across 10 different countries, which is an impressive 25% increase over 2016. A new comprehensive analysis of corporate clean energy procurement published this week by Bloomberg New Energy Finance (BNEF) found …

Road diet bridges a barrier, boosts safety

A breakthrough design on La Jolla Boulevard in San Diego cuts crashes by 90 percent and gives local business a shot in the arm.  This case study was written for the Institute for Transportation Engineers new book Implementing Context Sensitive Design on Multimodal Corridors, funded by the Federal Highway Administration. By ROBERT STEUTEVILLE    JAN. 10, 2018 CNU The reconstruction of a section of La Jolla Boulevard …

On social license to operate: Blackrock $6 tn investment manager says “Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.”

By Steve Hanley on Clean Technica, Jan 2018 Laurence D. Fink may not be a household name, but he is a very influential person. When Mr. Fink speaks, others listen. Why? Because as the founder and CEO of BlackRock, he controls more than $6 trillion in assets. That’s the kind of clout that gets a person noticed. On January 16, …