Silver as an investment

Category Archives: Labor

Ponzi Scheme: What The Chicago Teachers’ Pension Would Be Called If It Were A Hedge Fund

A long, long time ago, back in 2008 when most of today’s hedge fund analysts were still stressing over what to wear to prom, a man named Bernard Madoff was arrested for bilking unsuspecting investors out of $65 billion.  Madoff ran what is traditionally referred to as a ponzi scheme in which new investments were […]

Seattle Mayor Wants To Tax Diet Soda To Fight “White Privileged Institutionalized Racism”

Back in February, Seattle’s Mayor Ed Murray called for a 2 cent per ounce tax on sugary soft drinks in order to “improve Seattle’s educational opportunities for students of color.”  Per Lynx Media, the tax was expected to raise some $16 million per year. Of course, when someone on his staff pointed out that a […]

Shake Shack Confirms Worst ‘Minimum-Wage-Hike’ Fears – “It’s Going Up Too Fast… We Can’t Catch Our Breath”

As we detailed earlier, Shake-Shack shares crashed to record lows after the fast-food restaurant as increased labor costs (thanks to Obama's minimum-wage-hikes) crushed margins and caused menu price hikes that slowed demand… Shack-level operating profit margins decreased 300 basis points to 25.2%, primarily due to increased labor and related expenses resulting from increases in hourly […]

Philly Beverage Tax Blowback: Coca Cola Sales Plunge 32%

Just a month after PepsiCo said it would lay off 80-100 people due to the 'unintended consequences' of Philadelphia's new soda-tax, Philly Coke, the local Coca-Cola bottler, has cut 40 jobs amid a 32% plunge in sales. Since all of this is taking place as previewed in a recent post: "The 'Soda Police' Just Learned […]

Seven Years Of College Down The Drain

Authored by Nicholas Colas via Convergex.com, Last week’s Beige Book highlighted labor shortages for both skilled and unskilled workers, but perhaps employers are asking too much from certain applicants.   That’s the upshot from a report conducted by the Rockefeller Foundation and Edelman Intelligence, which surveyed C-suite executives, human resource officers, and individuals aged 18 […]

New Snowflake Study Proves Kanye Right: “That Major That She Majored In Don’t Make No Money”

A few days ago we noted that a record number of millennials are now graduating college and promptly moving back home with mom and dad.  Adding insult to injury, at least for mom and dad anyway, roughly one-quarter of those millennials living in the proverbial basement are unemployed can’t be bothered with the hassle of […]

Private Equity Sets Its Sites On A New Funding Victim: Mom-And-Pop 401(k)s

After laying ruin to the defined-benefit pension plans of public and private employees over the past several decades, Wall Street has its sites set on its next victim: mom-and-pop 401(k)s.  Sure, because as our recent headlines confirm, wall street money managers have worked wonders for public/private pension funds: Are Collapsing Pensions “About To Bring Hell […]

Latest In Silicon Valley ‘Fringe Benefits’: Paid Time Off To Protest Trump

Silicon Valley’s tech giants are world renowned for their random employee ‘perks’ which include everything from free lunches prepped by expensive chefs, to free massages, nap pods and tricked out game rooms.   But the latest trend in Silicon Valley ‘fringe benefits’, which includes unlimited time off to protest the Trump administration, feels a little […]

After ‘Modest’ 250% S&P Returns, Corporate Pension Funding Levels Roughly Same As 2008

We spend a lot of time writing about public pensions because the aggregate underfunding levels, $3 – $5 trillion on the low end, are simply staggering and at some point they will be realized for the ponzi schemes that they are and the systemic risk they represent to the global financial system.  Until then we’ll […]