Loose cannons

Protecting the business environment

"The US Environmental Protection Agency is failing to protect the public from tens of thousands of toxic compounds because it has not gathered data on the health risks of most industrial chemicals, according to a report by the investigative arm of Congress to be released today... About 80,000 chemicals are used by US industries, and scientific studies suggest that many pose health threats, such as cancer, birth defects, altered sex hormones and damage to developing brains. Included are many substances — such as flame retardants in furniture and electronics, phthalates in cosmetics and various chemicals in plastics — that people are exposed to in everyday products." — Los Angeles Times, July 13.

Silver lining for GM

"General Motors Corp. reported another huge quarterly loss Wednesday, intensifying pressure on CEO Rick Wagoner to speed up the overhaul of North American operations that produced a $1.2 billion torrent of red ink in the second quarter... 'It's no secret GM has too many plants, people and nameplates and high legacy costs', said Merrill Lynch analyst John Casesa. But he added that the poor results may make it easier for GM to win concessions from the United Auto Workers." — Associated Press, July 20.

Capitalism at work

"Incomes are growing smartly for the first time in years, spurring unexpectedly robust spending by consumers. The revival, however, is mainly among top earners who receive stocks, bonuses and other income in addition to wages. The nearly 80 percent of Americans who rely mostly on hourly wages barely maintained their purchasing power, according to the [US] Labor Department." — Washington Post, July 31.

Can't imagine why

"A survey this month by Public Opinion Strategies and National Public Radio found that 53 percent of Americans have a negative opinion of the economy." — Washington Post, July 31.

From Green Left Weekly, August 10, 2005.

Visit the Green Left Weekly home page.

From GLW issue 637