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labor

How Higher Wages for U.S. Autoworkers Could Help You Get a Raise, Too

Jordan Yadoo Bloomberg
While new labor contracts cover only 140,000 unionized employees at the Big Three carmakers, they could lift pay standards for the nearly 1 million people who work in the U.S. auto industry and may also spur wage gains through the broader labor market. The deals come after a decade without raises for senior workers and lower wages and benefits for new hires--which almost completely eliminated the wage premium autoworkers once enjoyed over the average American worker.

labor

Are Unions and Democrats Still Happy Together?

Jeanne Cummings Bloomberg
The conflict over fast track is fundamental. Organized labor wants to kill the legislation. Obama wants to sign it. The rough outlines of the bill would enable Congress to make its preferences known and receive updates while trade negotiations are under way in exchange for a clean vote -- no amendments -- on a final trade agreement.

The Secret Goldman Sachs Tapes

Michael Lewis Bloomberg
The Fed encourages its employees to keep their heads down, to obey their managers and to appease the banks. That is, bank regulators failed to do their jobs properly not because they lacked the tools but because they were discouraged from using them.

labor

South Africa Raises Effort To End 18-Week Platinum Strike

Andre Janse van Vuuren Bloomberg
Platinum strike by South African workers strike is having an effect on the economy. Members of the Association of Mineworkers and Construction Union have been on strike for 18 months.

labor

Bankers Learn What Happens in Vegas Can Land Back in D.C.

Robert Schmidt Bloomberg
One detail Deutsche Bank didn’t account for when it opened The Cosmopolitan of Las Vegas casino: a labor dispute that has reached from Nevada into the bank’s dealings with the Federal Reserve in Washington.
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