Climate change is a killer
https://www.independent.co.uk/environment/climate-change-deaths-kill-records-wildfires-a9533536.html
Making sure CEOs are looked after
Sonic is one of six U.S. companies identified in a Reuters review of regulatory filings that have moved to shield their executives’ compensation from the pandemic’s economic fallout as they laid off or furloughed workers. The others include plush toy seller Build-A-Bear Workshop, restaurant operator Red Robin Gourmet Burgers, retailer Signet Jewelers, fashion brand DKNY owner G-III Apparel Group and fracking sand producer Covia Holdings. Reuters found 75 other companies that disclosed they are considering changes to executive pay plans in light of the pandemic’s impact on their businesses. Among them are ridesharing giant Uber Technologies, hotel operator Hilton Worldwide Holdings, carrier Delta Air Lines, satellite radio company Sirius XM Holdings and Thomson Reuters, the parent company of Reuters News.
Sirius XM said it “may be prudent” to change executive pay terms to ensure it can attract and retain “senior management talent.” Delta said in a filing that its performance measures no longer suited the “current reality” and that the value of executives’ incentive pay had declined by more than half in the pandemic. G-III and Signet said the changes were needed to retain management talent, while Build-A-Bear said the moves aligned the interests of executives with shareholders. Build-A-Bear, which sells customized stuffed animals, announced a 20% executive salary reduction in March as it furloughed more than 90% of its 4,300 workers. That translated to a cut of $142,800 from the $714,000 salary of CEO Sharon John. Two weeks later, however, the company granted its top management stock grants of roughly equivalent value to the salary cuts.
Covia, Red Robin, Uber and Hilton said in filings that uncertainty arising from the pandemic caused them to revisit performance pay. Thomson Reuters said in a filing that it had approved executive performance targets in February and early March without the benefit of being able to consider the pandemic’s impact on its business.
More than 500 companies in the Russell 3000 index have announced cuts to the base salaries of their chief executives, to save money or show they are sharing workers’ pain, according to compensation consultant Semler Brossy. Base salaries, however, account for only a tenth of the median pay of chief executives at the largest 500 U.S. companies, according to research firm Equilar. They earn the bulk of their compensation through stock awards.
https://www.reuters.com/article/us-health-coronavirus-ceopay-insight/u-s-firms-shield-ceo-pay-as-pandemic-hits-workers-investors-idUSKBN2341N9
Mutual Aid is there for the Asking
The only real way forward, in the end, is the world socialist cooperative commonwealth.
The ‘Bolsonarization’ of Bolivia
Morales and the Movement Toward Socialism (MAS) party governed the country for 14 years. Certain negative actions and policies of the MAS government over these years in power contributed to its own crisis of legitimacy in the lead up to the October 2019 elections. In the lead up to the October 20, 2019 election, the MAS and Morales were already mired in a crisis of legitimacy, making them an easier target for the right, which had been consolidating forces and capitalizing off of the errors of the MAS. The issue of fraud during the October 20th elections, which indicated Morales won another term, has been widely debated and investigated. Following the election, protesters against Morales allied with right-wing leader Fernando Camacho and other racist figures, fomenting destabilization and violence in the country in an effort to force Morales out of office. These efforts ultimately created the pretext for a police and military intervention Regardless of the extent or existence of fraud, the Organization of American States strategically threw gasoline on the fire during a critical moment of the October crisis with their early claims of fraud, pushing the country into violence. On November 8, police across the country mutinied against the government, and the military “suggested” Morales step down on November 10. Morales and other MAS leaders were forced to flee or go into hiding. Morales left the country for Mexico.
The Right, having planned for a seizure of the government, took advantage of the power vacuum and entered office with the crucial blessing of the Bolivian armed forces and the US embassy.
Senator Jeanine Áñez declared herself president in front of an empty Congress on November 12. State repression immediately following the coup left dozens dead of unarmed protesters and bystanders dead in Senkata and Sacaba, key areas of resistance to the coup regime. and the government has been throwing political enemies behind bars.
https://www.commondreams.org/views/2020/05/28/bibles-barricades-how-right-seized-power-bolivia
The IMF on Climate Change
Last year was also marked by a series of severe weather-related events, including flooding in the US and bushfires in Australia, but the IMF said this was part of a trend for the number of disasters to increase “considerably” in the past few decades, from slightly more than 50 in the early 1980s to about 200 since 2000. It noted that Hurricane Kartrin devastated New Orleans in 2005, and Dominica suffered damage amounting to more than twice its GDP when Hurricane Maria struck in 2017.
Even so there had been little indication that investors had become more aware of the potential losses they could face if global temperatures continued to rise, with only a modest impact on stock markets, shares in banks and insurance companies from large disasters. The IMF said. “This suggests that equity investors may not be paying sufficient attention to climate change risks.”
“Of course, strong policy actions to mitigate climate change would reduce greenhouse gas emissions and future physical risk in the first place, conferring benefits to mankind that extend well beyond the realm of financial stability. Yet, from a financial stability perspective, this transition to a lower-carbon economy needs to be carefully managed to avoid abrupt and unanticipated repricing of portfolios and economic dislocation.”
https://www.theguardian.com/business/2020/may/29/markets-not-paying-attention-to-climate-crisis-imf-warns
To own the vaccine or not?
When Terrorism Succeeds
African-Americans are made to look big and menacing by the white media and many political figures, but they are a minority. They are only 12 percent of the population. If you had a gathering of 100 representative Americans, only 12 of them would be of African heritage. They are systematically discriminated against on employment, which keeps them poor. They have only 10 cents for every dollar a white person has. As a disadvantaged minority they are still, despite the supposed end to Jim Crow, subjected to enormous amounts of surveillance and are incarcerated at a rate many times more than whites. It is systematic racism that allows the authorities to treat African-Americans like pariahs and to crack down hard on them if they protest.
In Georgia, Ahmaud Arbery was hunted down and shot dead in broad daylight for being in a white neighborhoo, the wrong place at the wrong time. In Central Park New York, an African-American had the police called out to him by a white woman for telling her to put her dog on a leash. In Minneapolis, George Floyd was slowly killed by a police-officer who presently remains free and uncharged of any crime.
Yet the media is upset that his death has resulted in righteous rage from his community.
adapted from here
https://www.commondreams.org/views/2020/05/28/top-6-reasons-authorities-are-cracking-down-hard-black-protesters-while-treating
Ecuador and Inequality
According to official figures, there were 37,355 confirmed coronavirus cases and 3,203 COVID-19-linked deaths in Ecuador as of Monday, but many say the numbers are drastically underreported. Last month, the state registry released data showing that over 10,000 deaths were recorded for the months of March and April, just for the province of Guayas, where Guayaquil is located. Officials say this is nearly 6,000 more deaths than the same time period in the last two years, leading many to conclude that the vast majority are COVID-19 related. They also include deaths that could have been prevented had the healthcare system not collapsed under the weight of COVID-19, yet no data exists to make this differentiation.
Some of these neighbourhoods include Monte Sinai, Bastion Popular, Suburbio, and Trinitaria in the northern and southern peripheries of the city. Many of these communities do not have access to basic services like sewage systems or drinking water, and have high population densities. These provide the perfect conditions for a virus to spread, Billy Navarrete, director of the Committee for the Defense of Human Rights in Guayaquil, said.
“I don’t agree with the government who always blames the people for not staying at home. You can stay at home when you have your necessities met, and savings in the bank,” said Giselle Viteri Cevallos, with the local organisation Asphalt Women (Mujeres de Asfalto) that promotes the rights of women of African descendent.
Saltos collated reports left by families on social media platforms, begging for help to remove the cadavers of their loved ones from their homes and produced a map. The map indicates that the vast majority of these reports came from either the city centre, where there was a large flow of people, or in the peripheral areas in the north of the city, where there are higher population densities and lack of infrastructure, he said. Although this data is not conclusive, it provides an idea of the dynamics of the virus, he added.
Despite being the commercial capital of Ecuador, Guayaquil is one of the most unequal cities in the country. It has the highest poverty rate, at 14 percent, and the highest rate of workers in the informal economy. Nearly half of the working population in the city work in the informal sector, according to the national statistics institute. The informal sector includes jobs like street vendors and domestic workers, those who live off their daily wages with no social security benefits, and earn well below the national minimum wage of $400 per month.
President Lenin Moreno reportedly cut nearly 4,000 jobs in the healthcare sector nationwide last year. During the pandemic, the government also failed to provide protective gear to hospitals or assure long term job security for new recruits, so many healthcare workers refused to fill necessary positions, said Ramirez. At least 117 doctors and nurses lost their lives while treating COVID-19 infections in the province of Guayas alone, according to local unions.
Apart from saturated hospitals, one of the biggest struggles for families is paying for medication and mortuary services, as high demand has shot up prices. Paracetamol that normally costs $0.25 a pill can no longer be found in pharmacies, but is being sold for $4.00 in informal commercial areas, said Viteri. Some families have also been forced to go into debt, as they try to pay the high costs of a coffin and cemetery plot, which could range from $3,000 to $5,000, for their deceased family members.
https://www.aljazeera.com/indepth/features/coronavirus-pandemic-exposes-inequality-ecuador-guayaquil-200527151935203.html
Let off the hook
Dominion has a number of ties to high-ranking Trump officials, including EPA’s former top enforcement official, Patrick Traylor, who had Dominion has a client. Attorney general William Barr has served on the company’s board of directors and received more than $500,000 from Dominion.
“When we’re facing a public health crisis that causes respiratory problems, this is a time to be holding companies to a higher standard of air quality, not a lower one.”