Corporate CEO salaries have hit record high levels over the past year, according to the latest CEO pay report from the Australian Council of Superannuation Investors (ACSI). The report shows that pay for company bosses has reached its highest level for 17 years thanks to "persistent and increasing bonus payments".
Vice-chancellor of Australian National University (ANU) Brian Schmidt released a long statement on June 5 explaining why the university had ended negotiations to partner with the Ramsay Centre for Western Civilisation. He said it was because the centre wanted “unprecedented influence” as part of the deal.
How did Murray Goulburn, once Australia’s biggest milk processor and a successful dairy cooperative since 1950, end up being sold to its international competitor, Canadian dairy giant Saputo? In the final part of this series (read), Elena Garcia provides some answers. [You can also read part one, two and three.]
Despite the profitability of the Australian dairy industry and its claims to support “innovation" and "jobs and growth”, the federal government refused to step in and help Murray Goulburn expand into untapped Asian markets.
Hundreds of popular organisations and social movements from across Latin America and the Caribbean met at the Summit of the Peoples in Lima, Peru, over April 10-14.
The summit is a regular parallel to the official Summit of the Americas, which brings together governments from the entire Western Hemisphere.
Venezuela officially boycotted the governmental summit following Venezuelan President Nicolas Maduro’s controversial banning by Peru’s government. This, however, did not dissuade a colourful and multifaceted Venezuelan delegation from attending the parallel summit.
Climate and Capitalism editor Ian Angus looks at six new books for reds and greens covering climate change and disease’ capitalist power and the planet’s future’ brain, body, and environment’ oceanic art and science’ essential fungi and life, and the political economy of water.
Lyme: The First Epidemic of Climate Change
By Mary Beth Pfeiffer
Island Press, 2018
A jury has found gas company Linc Energy guilty of causing serious environmental harm at its trial underground coal gasification (UCG) plant near Chinchilla on Queensland's Darling Downs.
Karl Fitzgerald, 3CR’s Renegade Economist, spoke to independent investigative journalist Michael West (Michaelwest.com.au) about Transurban and its control of Australia’s toll roads.
* * *
Let’s start with some numbers: traffic was up just 1.4% on Transurban toll roads over the past six months, but toll revenues were up 9.6% and the earnings before tax trickery by 11.6%. But its net profit was up a staggering 280% in just six months. What does that mean?
As I marched through Sydney streets on February 17, along with activists from 30 community groups and trade unions opposed to the blatant privatisation scams that pass for NSW transport infrastructure, I am sure I was not the only one in the crowd reflecting on the ridiculous contradiction between what is possible for our society and what is forced on us from above.
This was yet another clear case of government working in the narrow and selfish interests of a small corporate elite. Similar examples of community resistance to corporate greed can be found all around the country.
Yet again, the federal Coalition government has launched a broadside in favour of its plan to cut company tax for big corporations from 30% to 25%, while slashing spending on social welfare and the public sector.
The catalyst for the latest controversy on the issue was a February 14 article on the ABC website by chief economics correspondent Emma Alberici, entitled, “There's no case for a corporate tax cut when one in five of Australia's top companies don't pay it.”
In Tokyo on January 24, 11 Pacific Rim countries including Australia reached an agreement to sign a revived Trans-Pacific Partnership (rebranded the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, CPTPP).
The huge free trade deal almost fell into oblivion last year when US President Donald Trump pulled his country out, citing concerns for the loss of US jobs.