Thursday, December 31, 2009

The stocks bubble of the late 1990s was succeeded by a bubble in housing; these were the engines of our economic growth. America's production of goods no longer received the level of investment that had made it the engine of our economic growth from the mid-19th century through the 1970s. The change began at the outset of the Reagan years, when the percentage of corporate profits retained for new investment dropped sharply. A report from the International Labor Organization published last week shows where the money went: to shareholder dividends, disproportionately benefiting the wealthy. In the prosperity years of 1946 to 1979, dividends constituted 23 percent of profits. From 1980 to 2008, they constituted 46 percent.

Monday, December 28, 2009

After fixing health care, Mr. Obama's next big promise to his social and union supporters was to right the lopsided U.S. labour relations system. Collective bargaining is weaker in America than in any other developed country. Unionization has been battered for decades by sophisticated (often illegal) employer campaigns, so-called right-to-work laws and a Labour Board that stood by while unions were creamed. Mr. Obama's proposed Employee Free Choice Act would arrest, and perhaps modestly reverse, this long decline in collective bargaining. New laws would enhance workers' shots at forming a union, and their chances of getting a first contract once they have one.

Tuesday, December 15, 2009

“Many of our contractors continue to ask me about our prospects in SK, as they, notwithstanding the current economic slowdown, are in a position to bid on a variety of infrastructure and private sector construction projects that continue to be released. These contractors are very keen to see evidence that they/we can operate legally within the province.

“Any updated information you could provide about the legislative process would be much appreciated.”