Today's LA Times on Spreading Corporate Wealth

[CaliforniaPeggy]

By Michael Hiltzik

August 25, 2010

Corporate America must be in a bad way. Job growth has stagnated, the prospects for hiring, at least in the near term, seem grim, and the polls of top executives sound universally glum.

And yet, operating earnings of companies in the Standard & Poor's 500 index jumped 38.4% in the second quarter compared with a year earlier, according to Thomson Reuters, and companies are sitting on an estimated $1.8 trillion in cash -- by some measures, a record mound of cash.

Somebody's making money in this economy. Unfortunately, it's not the middle class or the working class. And that's our real problem.

The business lobby talks as though the flat-lined job picture isn't the fault of employers. Certainly it's true that it's not entirely the fault of employers. Chamber of Commerce types overemphasize doubts about the strength of the economic recovery, the prospect of higher federal taxes and the costs of government initiatives such as healthcare reform.

Some aren't above suggesting that American workers have simply become too lazy to get off unemployment and do some real work.

The rest at link:
http://www.latimes.com/business/la-fi-hiltzik-20100825,0,1425491.column

[sinkingfeeling]

1. Good article.

[CaliforniaPeggy]

2. Hiltzig is often right on the money, so to speak...

[CaliforniaPeggy]

3. .