The only real way forward, in the end, is the world socialist cooperative commonwealth.
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
Climate change is a killer
https://www.independent.co.uk/environment/climate-change-deaths-kill-records-wildfires-a9533536.html
Brazil’s Callous COVID-19 Attitude
Blaming People for the Pandemic
Socialists even from environmentalists and progressives frequently get challenged with the concept of over-population, a view of the world that we always try to refute. Fortunately, there are some who share our ideas that population in itself is not the problem. It is worth while linking to and quoting from this article on the Dissident Voice website that contests the claims that the present pandemic can be blamed on over-population.
“…So, what is the connection between population and pandemic? Employing what he calls “root cause analysis,” Mr. Judge conflates “overpopulation” with “overcrowding.” The overcrowding he is concerned about is that found in “urban slums,” which he specifically cites in the article. That is, the overcrowding of poor people who cannot afford to live in what he calls the “sparsely populated areas.”…
…Let’s test Mr. Judge’s hypothesis regarding the relationship between density of population and response to the pandemic. Take Belgium, where Mr. Judge lives. After the mini-state of San Marino, Belgium has the unfortunate distinction of having the highest COVID-19 death rate in the world at 82 deaths per 1000 people. Its population density is 974 people per square mile. In comparison, Singapore and Hong Kong are the two most densely populated territories in the world with 20,455 and 17,565 people/mi2 respectively, after the mini-territories of Macau and Monaco. Their death rates are only 23 and 4 per 1000 population, respectively. That is, Belgium has over 20 times the death rate of Hong Kong, while Hong Kong’s population density is over 18 times that of Belgium…
…Consistent with those who espouse the overpopulation thesis, Mr. Judge yearns for an idyllic past when the planet was not as overrun by humans, say,- the Middle Ages. Since the 1300s, the world’s population has increased over 17-fold. But that much smaller population did not prevent the Black Death pandemic from taking an estimated 75-200 million lives back then…
Roger D. Harris is with the human rights organization Task Force on the Americas,
American Poverty
https://www.commondreams.org/news/2020/05/29/least-9-million-us-households-children-are-not-all-confident-theyll-be-able-afford
Will Things Change?
40.7 million Americans have lost their jobs over just the past 10 weeks as mass layoffs induced by the coronavirus pandemic continue. More than 100,000 people have died of Covid-19 in the United States.
Currently, there are 16 more billionaires than there were in mid-March.
According to a new analysis by the Institute for Policy Studies (IPS), the combined net worth of America’s billionaires soared by nearly half a trillion dollars, bringing their total wealth to $3.4 trillion. IPS, which has been publishing weekly updates on billionaire “pandemic profiteering,” found that the combined net worth of U.S. billionaires grew by $485 billion between March 18 and May 28, an increase of 16.5%.
Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg saw their combined wealth soar by $63 billion over the last 10 weeks.
It said, “This is a grotesque indicator of the deep inequalities in U.S. society,” adding, “This isn’t just unsustainable, it’s unconscionable.”
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.”
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
The Sino-India Stand-off
Since the beginning of May several aggressive incidents have taken place in Eastern Ladakh. India and China both claim territory along the Himalayas. Their border dispute goes back decades.
Nationalist posturing adopted by both nations have soured relations. Xi called on his military to step up its combat preparedness. Modi reportedly met with top military and security officials over the situation at the border with China. High-level Indian and Chinese military commanders have met at designated points along the LAC (line of actual control) on May 22nd and May 23rd to defuse the current situation in Eastern Ladakh.