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Wednesday, April 04, 2018

How corporate dark money is taking power

Hard core irony as Microsoft granted protected clearance to classified govt data




Poisoned daughter of former Russian spy, Yulia Skripal, had 'secret bank account', revealed relative

AFL shifts goalposts on Gillon McLachlan pay disclosure

Clearly, the culling of the APS has come at the expense of under-30s, whose numbers have fallen significantly while the dead wood has remained (see next chart). This might reflect the lower graduate intakes over recent years, which has stifled job opportunities for those graduating from university – much like the rest of the labour market APS headcount shrinking and ageing at same time - MacroBusiness


Drugs, lies, bribery exposed in Virginia’s transportation agency Fredericksburg.com. JTM: “A reminder that corruption never sleeps… unless it’s with a sex worker or subordinate…”


Capital-is-Me: Conditioned to Cheer for the Rich as We Despair in Economic Anxiety Ghion Journal






The US House of Representatives has approved a bill allowing politically active 
nonprofits to shield donors' names from the IRS. (Graphics: Geralt/Pixabay CC0 1.0)
Paul Davis On Crime: My Piece On Cosa Nostra: The Threat Of Organized Crime In America

What James Franco’s comedy doesn’t get about the memoir ‘The Disaster Artist’


Melbourne police captured on video taking down disability pensioner


Oral evidence: Russian Corruption and the UK, HC 932House of Commons Foreign Affairs Committee (Richard Smith). Richard Smith: “Unexpected entertainment: the sudden dumping on Liam Fox, who, as usual, deserves it. Note also that these guys aren’t necessarily convinced about the Putin-Salisbury connection and don’t mind saying so. Lastly it should be ‘Tallberg and Uniwell’ not ‘Torberg and Uniworld,’ mishearing by the transcriber; an extreme connoisseur’s point, admittedly.”

Forbes: “Capitalism’s global conquest continues as entrepreneurs around the globe mint fortunes in everything from cryptocurrencies to telecom to bridal dresses. Forbes has pinned down a record 2,208 billionaires from 72 countries and territories including the first ever from Hungary and Zimbabwe. This elite group is worth $9.1 trillion, up 18% since last year. Their average net worth is a record $4.1 billion. Americans lead the way with a record 585  billionaires, followed by mainland China with 373. Centi-billionaire Jeff Bezos secures the list’s top spot for the first time, becoming the only person to appear in the Forbes ranks with a 12-figure fortune. Bezos’s fortune leapt more than $39 billion, the list’s biggest one-year gain ever. He moves ahead of Bill Gates, who is now number 2. It is the biggest gap between no. 1 and 2 since 2001. Bernard Arnault, with a fortune of $72 billion, reclaims the title of richest European for the first time since 2012. There are 259 newcomers including the first ever cryptocurrency billionaires; two Canadians whose toy company is behind Hatchimals and PAW Patrol; two Americans who founded online retailer Wayfair; and a 35-year-old heiress who runs In-N-Out Burger. Even in such a strong year, 121 dropped out due to falling fortunes or political headwinds, including all 10 Saudi ArabiansClick here for more on Forbes methodology, credits and acknowledgments.”
The Real Retail Killer – “We are in the midst of a mass extinction in retail. Over the past five years, dozens of retailers—once the bedrock of malls across the country—have shuttered. The most recent victim was Toys ‘R’ Us, which announced it was going out of business last week, a collapse that could cost as many as 33,000 jobs.Many are blaming the storesthemselves for failing to adapt to the rise of e-commerce and changing consumer habits. Others have pointed the finger at the rise of one-stop-shopping behemoths like Walmart and Target, both of which have made life hell for category killers like Toys ‘R’ Us. Some see the enduring impact of the Great Recession, while others still—including Toys ‘R’ Us—blame millennials for not having enough kids. These explanations have some merit (with the exception of the millennials one). But the biggest ongoing threat to retail is debt. Over the past several years a number of major retailers have been saddled with billions of dollars in debt by private equity firms. Toys ‘R’ Us, for instance, was hit with over $5 billion in additional debt after it was acquired by private equity firms KKR and Bain Capital in 2006. With annual interest payments of over $400 million a year, Toys ‘R’ Us didn’t have a chance. Private equity is remaking the retail environment, causing even successful companies like Toys ‘R’ Us to go out of business. And they’re fundamentally remaking American commerce in the process, with Amazon, Target, Walmart, and Dollar General set to benefit. Meanwhile, private equity is more or less getting off scot-free…”