Finance Topic

I just read recently that eBay and American Express are planning some layoffs, even after some healthy profits. So now, it’s no longer about laying off people to get back into profits; it’s about laying off people so that executives can direct more money into theirs and shareholder’s pockets. To quote from the article: “Yahoo…

The average American saw stagnant income during the 2000’s, if not earlier. Then came the housing crash around 2006/2007 followed by the fall of Lehman Brothers in 2008. The fall precipitated the swoon of AIG and other banking entities, leading to a fear of economic collapse. Banks held out their hands looking for a bailout….

There has been a spate of articles about inequality, even from a food commentator in the New York Times. The gist is that during the last 30 years (since the 80’s, if not even the 70’s), most of the economic gains went into the pockets of the wealthy. Then, since the 2008 Great Recession, all of the…

So blares the McKinsey article titled “Getting More Out of Offshoring the Finance Function”, dated Nov. 21, 2014. The whole tone of the article seems rather breathless. Of course, I’m biased since I have been adversely affected by this trend. The economics of it is compelling: it is hard to compete against $5/hour wage. No…