17 09, 2020

Vast majority of managers still on lockdown

2020-09-17T08:54:46-07:00September 17th, 2020|Categories: Economy|Tags: , |

The number of money management firms with employees working from home has barely budged over the summer, a Callan survey released Wednesday showed. Callan said 81% had not opened their offices as of Aug. 15, nearly the same as the 84% that had reported keeping their doors closed in June. The investment consultant's second "Coping with COVID-19" survey report said 44% of the 98 responding firms have not set a date for returning to the office. Of the remaining [...]

4 08, 2020

Real estate executive Peter Palandjian lines up a who’s who of Corporate Boston for voting initiative

2020-08-04T11:40:02-07:00August 4th, 2020|Categories: Economy|Tags: , , |

Low voter turnouts in the US have always bothered Peter Palandjian. After the COVID-19 pandemic and waves of racial unrest overlapped this spring, he decided to do something about the issue. Palandjian, chief executive of Boston-based Intercontinental Real Estate Corp., is launching the “A Day for Democracy” project this week. It’s a nonpartisan pledge card initiative aimed at rounding up employers of all sizes who will work to increase voter participation, in part by promising to give employees some [...]

13 05, 2020

Union Pension Partitions Included in Democrat’s 4th Relief Proposal

2020-05-13T15:38:17-07:00May 13th, 2020|Categories: Economy|Tags: , , , |

The Democratic majority in the U.S. House of Representatives has published a draft version of a fourth economic relief package in response to the coronavirus pandemic, dubbed the Health and Economic Recovery Omnibus Emergency Solutions Act or the “Heroes Act.” The wide-ranging legislation addresses a host of issues, from providing supplemental funding to the SNAP food security program to creating a special fund to support struggling fisheries. Notably, the entire Division D section of the legislation is dedicated to [...]

6 05, 2020

Public pension funds are a net gain for state and local revenue – study

2020-05-06T14:47:18-07:00May 6th, 2020|Categories: Economy|Tags: |

Public pension funds were net revenue generators for state and local governments in 2018, surpassing taxpayer contributions by $179 billion, according to a biennial study released Tuesday by the National Conference on Public Employee Retirement Systems. That represents a 30.6% increase from the original study covering 2015-2016. In 2018, pension funds generated about $341.4 billion in state and local revenues through investments and retiree spending, while the taxpayer contribution to those pension plans was $162 billion. For 40 states, [...]

22 04, 2020

Senate passes coronavirus relief package aimed at small business

2020-04-22T15:24:35-07:00April 22nd, 2020|Categories: Economy|Tags: , , |

The Senate via unanimous consent passed a nearly $500 billion coronavirus relief package Tuesday aimed mostly at small businesses impacted by the COVID-19 pandemic. After weeks of negotiation between key Republicans and Democrats on Capitol Hill and White House officials, an agreement was reached on an additional $321 billion for the small-business-oriented Paycheck Protection Program. Under the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, which was signed into law March 27, roughly $350 billion [...]

9 04, 2020

Resources for Workers Impacted by COVID-19

2020-04-09T15:08:10-07:00April 9th, 2020|Categories: Economy|Tags: , |

The COVID-19 pandemic has impacted the lives of millions of working people and our families, and the labor movement has been working tirelessly to limit the impact of this crisis on our health and livelihoods. We worked to make sure the relief packages Congress recently passed put the needs of working families and our communities first. To help navigate these new and expanded federal and state benefits and assistance programs, we put together an online resource that has [...]

9 04, 2020

Virus Exposes Gig Economy ‘Exploitation’ ESG Investors Ignored

2020-04-09T10:16:41-07:00April 9th, 2020|Categories: Economy|Tags: , , |

ESG investors need to up their game in holding companies to account on social issues such as labor rights and employment contracts, said the head of biggest network of responsible investment firms. Fiona Reynolds, chief executive officer of the Principles for Responsible Investment, said in a blog post Friday that firms which consider environmental, social and governance issues when investing have paid too little attention to “the modern forms of exploitation surrounding the gig economy.” Lack of paid sick [...]

26 03, 2020

Denmark’s Idea Could Help the World Avoid a Great Depression

2020-03-26T08:46:10-07:00March 26th, 2020|Categories: Economy|Tags: , |

While the White House and lawmakers haggle over the terms of an emergency economic-stabilization package, Denmark has gone big—very, very big—to defeat the unprecedented challenge of the coronavirus. This week, the Danish government told private companies hit by the effects of the pandemic that it would pay 75 percent of their employees’ salaries to avoid mass layoffs. The plan could require the government to spend as much as 13 percent of the national economy in three months. That is [...]

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