The once stalwart US auto industry has been brought to its knees. A plethora of problems, including poor management decisions and crippling labor laws, have virtually wiped out shareholder value and corporate profitability, endangering thousands of jobs and retiree pension benefits. The executives of the
In 2007, Whole Foods, the popular purveyor of natural foods, sought to expand its business by acquiring rival grocer Wild Oats. However, the Federal Trade Commission claimed that the merger would violate antitrust laws by creating a natural foods monopoly. Although federal judges approved the
Larry Breinhart of the Huffington Post and Barrett Sheridan of Newsweek are two of many commentators to use Alan Greenspan's connection to Ayn Rand and Objectivism as a means to prove that Rand's philosophy is incorrect and cannot work in the real world. The financial
Thirty years ago, George and Sharlee McNamee purchased a beachfront house in California, hoping to create a home in which to spend their retirement. Over the years, the McNamee’s made various improvements to their beach property, installing picnic tables for entertaining and a shade to
President-elect Barack Obama has announced his intention to present a “major” speech in the capital of a Muslim country soon after his inauguration. Obama says this is an opportunity to repair the damage done to America’s global reputation in the past eight years, especially in
Recently in Afghanistan a young man–Parwez Kambakhsh–was arrested, imprisoned, tried, found guilty, and sentenced to death. After the death penalty was announced, demonstrations were held in the streets applauding the verdict and prominent clerics declared that he deserved execution. Kambakhsh was condemned for blasphemy—the crime of
The BBC News reports that, on the eve of its long-anticipated release, Sony recalled its latest video game, LittleBigPlanet, from stores worldwide. The problem? After it had been distributed, one of the game's music tracks was discovered to contain a few lyrical verses that certain
President-elect Barack Obama has said he favors a single-payer health care system such as the one Canada has now. But the inefficiency of the single-payer system often leaves Canadians facing life-threatening waits for care. Lindsay McCreith from Ontario is one example. When his doctor told
The city of Los Angeles passed a $7 billion bond measure to refurbish public schools on Election Day. “Measure Q,” the fifth education-related bond measure since 1997, will go towards renovating buildings and creating new preschools and adult education centers. Figures on LA’s total per pupil
CEOs, some declare, make too much money. The basic premise of this claim is that the ‘excessive’ pay is undeserved–-that executives take home runaway paychecks regardless of performance. Others say that no matter how well a CEO performs, no one is worth millions of dollars.