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Walmart cuts workers' hours but increases workload as sales rise amid pandemic | Walmar... - 0 views

www.theguardian.com/...kers-hours-pay-great-workplace walmart pandemic workers economics
shared by osichukwuocha on 24 Sep 20 - No Cached
  • The retailer has emerged as one of the biggest winners of the pandemic. In August, Walmart announced a 9.3% rise in store sales and a 97% rise in e-commerce.
  • Walmart began rolling out the plan – called the Great Workplace program in 2019 – but its introduction to several stores was delayed due to the coronavirus pandemic
  • Just 165,000 employees out of Walmart’s 1.5m workforce are expected to receive pay raises.
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  • Recently, Walmart released a restructuring program it said is similar to the Great Workplace program, touting the increased wages for those accepted into new management positions and pay raises in October for associates in some departments, although Walmart’s minimum wage of $11 an hour remains unchanged for front end associates
  • who quit on 28 February 2020 after her schedule was reduced from around 35 hours a week on average to less than 20 hours this year.
  • restructuring
  • If I’m lucky I will only lose $2.05 an hour. It is possible that I could lose much more.”
  • Walmart said in its press release that associates in eliminated roles will maintain their current pay until October 2021, but it would not comment on what impact the changes will have on scheduled hours or workloads
  • “My coworkers and I feel like we are being put against each other with this whole process because we feel like we are having to fight for these positions,”
  • A cashier in California explained they’ve recently been given extra workloads, including being given tasks of restocking and front end inventory, which used to be handled by a manager
  • Anderson said store departments were consolidated, while workloads increased and no new hires were made to replace workers who left.
  • When I saw how this company treated loyal long time employees, I decided I was done.”
  • Walmart is estimated to save around $2.2bn annually from the tax cut bill.
  • Gary Stevens worked as a maintenance supervisor at a Walmart in Ticonderoga, New York, for eight years before he quit on 23 February 2020 after the Great Workplace program rollout reduced his staff by nearly 50%.
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How Amazon's Long Game Yielded a Retail Juggernaut - The New York Times - 0 views

www.nytimes.com/...elded-a-retail-juggernaut.html amazon retail shopping economics
shared by Javier E on 21 Nov 15 - No Cached
  • Shares of Jeff Bezos’s company have doubled in value so far in 2015, pushing Amazon into the world’s 10 largest companies by stock market value, where it jockeys for position with General Electric and is far ahead of Walmart.
  • The simple story involves Amazon Web Services, the company’s cloud-computing business, which rents out vast amounts of server space to other companies.
  • Deutsche Bank estimates that A.W.S., which is less than a decade old, could soon be worth $160 billion as a stand-alone company. That’s more valuable than Intel.
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  • For years, observers have wondered if Amazon’s shopping business — you know, its main business — could ever really work. Investors gave Mr. Bezos enormous leeway to spend billions building out a distribution-center infrastructure, but it remained a semi-open question if the scale and pace of investments would ever pay off. Could this company ever make a whole lot of money selling so much for so little?
  • Amazon’s retail operations had reached a “critical scale” or an “inflection point.” They meant that Amazon’s enormous investments in infrastructure and logistics have begun to pay off. The company keeps capturing a larger slice of American and even international purchases. It keeps attracting more users to its Prime fast-shipping subscription program, and, albeit slowly, it is beginning to scratch out higher profits from shoppers.
  • Now that Amazon has hit this point, it’s difficult to see how any other retailer could catch up anytime soon. I recently asked a couple of Silicon Valley venture capitalists who have previously made huge investments in e-commerce whether they were keen to spend any more in the sector. They weren’t, citing Amazon.
  • “The truth is they’re building a really insurmountable infrastructure that I don’t see how others can really deal with,”
  • Amazon also faces a wider set of competitive threats internationally. Although it has reported increasingly brisk sales in India, the company has had a difficult time breaking into the lucrative Chinese market, where Alibaba dominates the shopping scene
  • Walmart, which on Tuesday published earnings that came in slightly above analysts’ expectations, is also spending billions to slow Amazon’s roll. But Walmart said that in its latest quarter, e-commerce sales had grown only 10 percent from a year ago. Amazon’s retail sales rose 20 percent during the same period.
  • What has been key to this rise, and missing from many of his competitors’ efforts, is patience. In a very old-fashioned manner, one that is far out of step with a corporate world in which milestones are measured every three months, Amazon has been willing to build its empire methodically and at great cost over almost two decades, despite skepticism from many sectors of the business world.
  • Amazon has built more than 100 warehouses from which to package and ship goods, and it hasn’t really slowed its pace in establishing more. Because the warehouses speed up Amazon’s shipping, encouraging more shopping, the costs of these centers is becoming an ever-smaller fraction of Amazon’s operations.
  • Amazon’s investments in Prime, the $99-a-year service that offers free two-day shipping, are also paying off. Last year Mr. Bezos told me that people were increasingly signing up for Prime for the company’s media offerings
  • Mr. Schachter, of Macquarie Securities, estimates that there will be at least 40 million Prime subscribers by the end of this year, and perhaps as many as 60 million, up from an estimated 30 million at the beginning of 2015
  • he predicted that by 2020, 50 percent of American households will have joined Prime, “and that’s very conservative,” he said.
  • its operating margin on the North American retail business was 3.5 percent, while Amazon Web Services’s margin was 25 percent.
  • “retail gross profit dollars per customer” — a fancy way of measuring how much Amazon makes from each shopper — has accelerated in each of the last four quarters, in part because of Prime. Amazon keeps winning “a larger share of customers’ wallets,” the firm said, eventually “leading to a period of sustained, rising profitability.”
  • “The thing about retail is, the consumer has near-perfect information,” said Paul Vogel, an analyst at Barclays. “So what’s the differentiator at this point? It’s selection. It’s service. It’s convenience. It’s how easy it is to use their interface. And Amazon’s got all this stuff already. How do you compete with that? I don’t know, man. It’s really hard.
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Walmart Removes Guns For Sale, Citing 'Civil Unrest,' Then Abruptly Returns Them | Huff... - 0 views

www.huffpost.com/...est_n_5f9c0c68c5b6df1b74607016 US Culture crisis policy gun control
shared by clairemann on 30 Oct 20 - No Cached
  • Retail giant Walmart removed guns and ammunition from its U.S. sales floors this week out of concern for theft amid “civil unrest” over the killings of Black people by police.
  • The shooting death of Walter Wallace Jr. by Philadelphia police on Monday has touched off another wave of demonstrations as a contentious election season comes to a head. 
  • moved to “a secure location in the back of the store” because “civil unrest earlier this week resulted in damage to several of our stores.” 
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  • “As the current incidents have remained geographically isolated, we have made the decision to begin returning these products to the sales floor today,” the company said. 
  • “some isolated civil unrest” for the decision to put away the guns. A letter to store managers viewed by the Journal indicated that the instructions had been given on Wednesday.
  • Wallace, 27, was shot numerous times by Philadelphia officers after his mother called for help for a mental health crisis. Shaky cellphone video shows the officers demanding that Wallace, several yards from them, “put the knife down” before firing.
  • Walmart has been pushed to make adjustments to its firearms department after other incidents of violence.
  • In 2019, after 23 people were killed in a mass shooting at a Walmart in Texas, the retailer stopped selling ammunition for assault-style rifles. 
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Walmart's Visible Hand - NYTimes.com - 0 views

www.nytimes.com/...man-walmarts-visible-hand.html social science economics labor wages income policy theory middle-class government research history politics
shared by Javier E on 02 Mar 15 - No Cached
  • Conservatives — with the backing, I have to admit, of many economists — normally argue that the market for labor is like the market for anything else. The law of supply and demand, they say, determines the level of wages, and the invisible hand of the market will punish anyone who tries to defy this law.
  • Specifically, this view implies that any attempt to push up wages will either fail or have bad consequences. Setting a minimum wage, it’s claimed, will reduce employment and create a labor surplus, the same way attempts to put floors under the prices of agricultural commodities used to lead to butter mountains, wine lakes and so on
  • Pressuring employers to pay more, or encouraging workers to organize into unions, will have the same effect.
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  • But labor economists have long questioned this view
  • the labor force — is people. And because workers are people, wages are not, in fact, like the price of butter, and how much workers are paid depends as much on social forces and political power as it does on simple supply and demand.
  • What’s the evidence? First, there is what actually happens when minimum wages are increased. Many states set minimum wages above the federal level, and we can look at what happens when a state raises its minimum while neighboring states do no
  • the overwhelming conclusion from studying these natural experiments is that moderate increases in the minimum wage have little or no negative effect on employment.
  • Then there’s history. It turns out that the middle-class society we used to have didn’t evolve as a result of impersonal market forces — it was created by political action, and in a brief period of time
  • America was still a very unequal society in 1940, but by 1950 it had been transformed by a dramatic reduction in income disparities, which the economists Claudia Goldin and Robert Margo labeled the Great Compression.
  • How did that happen?
  • Part of the answer is direct government intervention, especially during World War II, when government wage-setting authority was used to narrow gaps between the best paid and the worst paid. Part of it, surely, was a sharp increase in unionization. Part of it was the full-employment economy of the war years, which created very strong demand for workers and empowered them to seek higher pay.
  • the Great Compression didn’t go away as soon as the war was over. Instead, full employment and pro-worker politics changed pay norms, and a strong middle class endured for more than a generation. Oh, and the decades after the war were also marked by unprecedented economic growth.
  • Walmart is under political pressure over wages so low that a substantial number of employees are on food stamps and Medicaid. Meanwhile, workers are gaining clout thanks to an improving labor market, reflected in increasing willingness to quit bad jobs.
  • its justification for the move echoes what critics of its low-wage policy have been saying for years: Paying workers better will lead to reduced turnover, better morale and higher productivity.
  • What this means, in turn, is that engineering a significant pay raise for tens of millions of Americans would almost surely be much easier than conventional wisdom suggests. Raise minimum wages by a substantial amount; make it easier for workers to organize, increasing their bargaining power; direct monetary and fiscal policy toward full employment, as opposed to keeping the economy depressed out of fear that we’ll suddenly turn into Weimar Germany. It’s not a hard list to implement — and if we did these things we could make major strides back toward the kind of society most of us want to live in.
  • The point is that extreme inequality and the falling fortunes of America’s workers are a choice, not a destiny imposed by the gods of the market. And we can change that choice if we want to.
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Doorbell cameras on Amazon, Walmart and Temu aren't safe - The Washington Post - 0 views

www.washingtonpost.com/...it-privacy-amazon-walmart-temu home security digital
shared by Javier E on 02 Mar 24 - No Cached
  • Video doorbells are supposed to help keep your home safe from strangers. Thanks to poor software security, however, they could be letting strangers in.
  • Researchers at Consumer Reports found vulnerabilities in popular video doorbells on major online retail sites including Amazon, Walmart and Temu, according to a report released Thursday. Hackers could use a companion app to take over the devices and view camera footage, the report found.
  • The doorbells were sold under a variety of brand names, mainly Eken and Tuck, on Amazon, Walmart, Sears, Shein and Temu. All the doorbells paired with the app Aiwit and were manufactured by the Chinese company Eken Group Ltd., Consumer Reports said. Some doorbells were also missing a registration code required by the Federal Communications Commission (FCC).
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  • This finding is the latest example of how tough it is to vet products we buy online. Buggy software in off-brand smart devices is a recurring problem
  • digital marketplaces such as Amazon have done little to rein in offending manufacturers. Combine that with sponsored search results and opaque labeling — Amazon repeatedly called the Eken doorbells an “Amazon’s Choice: Overall Pick” — and shoppers have little recourse to figure out which devices are safe.
  • Smaller brands churn out smart lightbulbs and speakers to compete with bigger companies, often cutting corners on security. Big brands, meanwhile, do a better job with security but create new privacy concerns — do we really want Amazon peeking into every corner of our homes? Efforts to label consumer tech with simple security facts have languished.
  • Meanwhile, large online marketplaces put unvetted gadgets in front of millions of shoppers. In January alone, Amazon sold 4,200 Eken doorbells under 11 product listings, according to Consumer Reports. Whether you’re shopping for smart home tech or a simple tank top, having to navigate a sea of unfamiliar brands and dubious product reviews is now common
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The Internet Is the Greatest Legal Facilitator of Inequality in Human History - Bill Da... - 0 views

www.theatlantic.com/...283422 internet jobs inequality competition global
shared by Javier E on 01 Feb 14 - No Cached
  • the Internet has created a tremendous amount of personal wealth. Just look at the rash of Internet billionaires and millionaires,
  • Then there’s the superstar effect. The Internet multiplies the earning power of the very best high-frequency traders, currency speculators, and entertainers, who reap billions while the merely good are left to slog it out.
  • will the Internet also create the greatest economic inequality the global economy has ever known?
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  • As the Internet goes about its work making the economy more efficient, it is reducing the need for travel agents, post office employees, and dozens of other jobs in corporate America. The increased interconnectivity created by the Internet forces many middle and lower class workers to compete for jobs with low-paid workers in developing countries. Even skilled technical workers are finding that their jobs can be outsourced to trained engineers and technicians in India and Eastern Europe.
  • The new news is that Internet-based companies may well be the businesses of the future, but they create opportunities for only a select few. Google has a little over 54,000 employees and generated revenues of around $50 billion in sales or about $1.0 million per employee.
  • in order to justify hiring an employee, a highly productive Internet company must create five to ten times the dollars in sales as the average domestic company.
  • In the past, the most efficient businesses created lots of middle class jobs.
  • One reason we are failing to create a vibrant middle class is that the Internet affects the economy differently than the new businesses of the past did., forcing businesses and their workers to face increased global competition. It reduces the barriers for moving jobs overseas. It has a smaller economic trickle-down effect.
  • Doing some of the obvious things like raising the minimum wage to fight the effects of the Internet will probably worsen the problem. For example, it will make it more difficult for bricks-and-mortar retailers to compete with online retailers.
  • Surprisingly, the much-vilified Walmart probably does more to help middle class families raise their median income than the more productive Amazon. Walmart hires about one employee for every $200,000 in sales, which translates to roughly three times more jobs per dollar of sales than Amazon
  • two things are certain: the Internet is creating many of those in the ultra-wealthy 1%; and it forces businesses to compete with capable international competitors while providing the tools so that businessmen can squeeze inefficiency out of the system in order to remain competitive.
  • If the government is going to be in the business of redistributing wealth, a better approach would be to raise the earned income tax credit and increase taxes to pay for it. Not only would this raise the income of low paid workers, but also it would subsidize businesses so they would be more competitive in world markets and encourage them to create jobs
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Biden to Announce Expansion of Port of Los Angeles's Hours - The New York Times - 0 views

www.nytimes.com/...-los-angeles-supply-chain.html economics politics crisis policy pandemic
shared by woodlu on 13 Oct 21 - No Cached
  • President Biden will announce on Wednesday that the Port of Los Angeles will begin operating around the clock as his administration struggles to relieve growing backlogs in the global supply chains that deliver critical goods to the United States.
  • Mr. Biden is set to give a speech on Wednesday addressing the problems in ports, factories and shipping lanes that have helped produce shortages, long delivery times and rapid price increases for food, televisions, automobiles and much more.
  • The resulting inflation has chilled consumer confidence and weighed on Mr. Biden’s approval ratings. The Labor Department is set to release a new reading of monthly inflation on Wednesday morning.
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  • brokered a deal to move the Port of Los Angeles toward 24/7 operations, joining Long Beach, which is already operating around the clock, and that they are encouraging states to accelerate the licensing of more truck drivers.
  • On Wednesday, the White House will host leaders from the Port of Los Angeles, the Port of Long Beach, and the International Longshore and Warehouse Union to discuss the difficulties at ports, as well as hold a round table with executives from Walmart, UPS and Home Depot.
  • Imports for the fourth quarter are on pace to be 4.7 percent higher than in the same period last year, which was also a record-breaking holiday season,
  • Companies are exacerbating the situation by rushing to obtain products and bidding up their own prices.
  • Administration officials acknowledged on Tuesday in a call with reporters that the $1.9 trillion economic aid package Mr. Biden signed into law in March had contributed to supply chain issues by boosting demand for goods, but said the law was the reason the U.S. recovery has outpaced those of other nations this year.
  • Consumer demand for exercise bikes, laptops, toys, patio furniture and other goods is booming, fueled by big savings amassed over the course of the pandemic.
  • The blockages stretch up and down supply chains, from foreign harbors to American rail yards and warehouses.
  • Home Depot, Costco and Walmart have taken to chartering their own ships to move products across the Pacific Ocean.
  • the average anchorage time had stretched to more than 11 days.
  • Companies that had been trying to avoid passing on higher costs to customers may find that they need to as higher costs become longer lived.
  • worsening supplier delivery times and conditions at ports suggested that product shortages would persist into mid- to late next year.
  • governments around the world could help to smooth some shortages and dampen some price increases, for example by encouraging workers to move into industries with labor shortages, like trucking
  • “But to some extent, they need to let markets do their work,” she said.
  • a Transportation Department official gathering information on what the administration could do to address the supply chain shortages had contacted his company. Flexport offered the administration suggestions on changing certain regulations and procedures to ease the blockages, but warned that the problem was a series of choke points “stacked one on top of the other.”
  • from the whole big picture, the supply capacity is really hard to change in a noteworthy way.”
  • The shortages have come as a shock for many American shoppers, who are used to buying a wide range of global goods with a single click, and seeing that same product on their doorstep within hours or days.
  • The political risk for the administration is that shortfalls, mostly a nuisance so far, turn into something more existential. Diapers are already in short supply. As aluminum shortages develop, packaging pharmaceuticals could become a problem,
  • slow deliveries could make for slim pickings this Christmas and Hanukkah.
  • Consumer price inflation probably climbed by 5.3 percent in the year through September, data from the Bureau of Labor Statistics is expected to show on Wednesday.
  • They often point out that much of the surge has been spurred by a jump in car prices, caused by a lack of computer chips that delayed vehicle production.
  • the pandemic has shut down factories and slowed production around the world. Port closures, shortages of shipping containers and truck drivers, and pileups in rail and ship yards have led to long transit times and unpredictable deliveries for a wide range of products
  • Tesla, for instance, had been hoping to reduce the cost of its electric vehicles and has struggled to do that amid the bottlenecks.
  • the concern is that today’s climbing prices could prompt consumers to expect rapid inflation to last. If people believe that their lifestyles will cost more, they may demand higher wages — and as employers lift pay, they may charge more to cover the cost.
  • If demand slumps as households spend away government stimulus checks and other savings they stockpiled during the pandemic downturn, that could leave purveyors of couches and lawn furniture with fewer production backlogs and less pricing power down the road.
  • If buying stays strong, and shipping remains problematic, inflation could become more entrenched.
  • To get their own orders fulfilled, companies have placed bigger orders and offered to pay higher prices.
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Amazon, Walmart, and Other Stores Have Too Many Options - The Atlantic - 0 views

www.theatlantic.com/...590185 amazon consumerism materialism surplus culture
shared by Javier E on 06 Jun 19 - No Cached
  • n theory, Amazon is a site meant to serve the needs of humans.
  • But when you type hangers into Amazon’s search box, the mega-retailer delivers “over 200,000” options. On the first page of results, half are nearly identical velvet hangers, and most of the rest are nearly identical plastic. They don’t vary much by price, and almost all of the listings in the first few pages of results have hundreds or thousands of reviews that average out to ratings between four and five stars. Even if you have very specific hanger needs and preferences, there’s no obvious choice. There are just choices.
  • Amazon’s success has pushed retailers such as Walmart and Target to carry even more stuff—especially online—and to get that stuff to shoppers even faster
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  • The global-manufacturing apparatus now has the capacity to churn out near-endless stuff. The industry’s output has ballooned 75 percent since 2007 to $35 trillion, according to one analysis, and millions of livelihoods depend on its continued growth.
  • . The internet-shopping boom has spawned an excess-stuff economy, in which retailers such as Overstock.com buy up extra product from full-price retailers
  • n the arms race to sell as many sandwich bags or beach towels as possible, a problem has become clear: Variety isn’t infinitely valuable.
  • Contemporary internet shopping conjures a perfect storm of choice anxiety
  • Research has consistently held that people who are presented with a few options make better, easier decisions than those presented with many. It has also shown that having many options is particularly confounding when the information available on them is limited or confusing
  • Those infinite, meaningless options can result in something like a consumer fugue state
  • Helping consumers figure out what to buy amid an endless sea of choice online has become a cottage industry unto itself
  • choice fatigue is one reason so many people gravitate toward lifestyle influencers on Instagram—the relentlessly chic young moms and perpetually vacationing 20-somethings—who present an aspirational worldview, and then recommend the products and services that help achieve it
  • Review videos, too, are popular on YouTube, and plenty of niche websites perform similar functions for products that serve a particular interest, such as hiking or photography
  • . Casper (mattresses), Glossier (makeup), Away (suitcases), and many others have sprouted up to offer consumers freedom from choice: The companies have a few aesthetically pleasing and supposedly highly functional options, usually at mid-range prices. They’re selling nice things, but maybe more importantly, they’re selling a confidence in those things
  • They have a strong precedent for believing that their type of extreme curation is what consumers want: Trader Joe’s sells many times fewer products than most of its suburban grocery-store competitors, but still tops consumers’ rankings of their favorite places to grocery shop.
  • stuff’s creators tend to focus their energy on those who already have plenty. As options have expanded for people with disposable income, the opportunity to buy even basic things such as fresh food or quality diapers has contracted for much of America’s lower classes.
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Trump Bucks Republican Orthodoxy on Guns - Washington Wire - WSJ - 0 views

blogs.wsj.com/...capital-journal-guns-thursd gun control
shared by runlai_jiang on 04 Mar 18 - No Cached
  • Photo: iStock/Getty Images By Joshua Jamerson Mar 1, 2018 7:18 am ET 0 COMMENTS Save Article Save Remove View Saved Articles <circ
  • He also dashed conservative hopes that he would support a move now for gun owners who legally carry concealed firearms in one state to carry them in the other 49 states, a long-sought goal of the National Rifle Association.
  • he bucked Republican orthodoxy by suggesting the swift removal of guns from people who are potentially mentally ill,
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  • he continued to seek a legislative response to the deaths of 17 people at a Parkland, Fla., high school two weeks ago
  • His comments came the same day&nbsp;Walmart and Dick’s Sporting Goods–two of the country’s biggest gun sellers–said they both would no longer sell guns to anyone under 21 years old.
  • with Democrats saying they doubted the president’s words would yield immediate results, and several key Republicans saying they remained opposed to the Manchin-Toomey legislation that the president said he favored.&nbsp;
  • Mr. Trump has staked out positions on controversial issues in the past, only to surprise some lawmakers with an apparent change of heart later.
  • &nbsp;For more than 20 years, federal law has effectively halted the government’s ability to research gun violence. Now,&nbsp; a bipartisan group of lawmakers&nbsp;is taking another look at the restrictions…C
  • Hope Hicks, the longtime Trump confidant and White House communications director, is resigning. Ms. Hicks, 29 years old, told the president in recent weeks that she wanted to leave the White House to explore outside opportunities, Rebecca Ballhaus and Peter Nicholas report.
  • The bipartisan legislation would relax dozens of rules for small to medium-size banks, shaking up the banking sector with policy changes that could encourage deal-making and make it easier for banks to exp
  • several banks for information about their relationships with Jared Kushner and his finances, Emily Glazer, Erica Orden a
  • News of federal inquiries concerning Kushner Cos. has emerged in recent months, including by prosecutors at the U.S. attorney’s office in Brooklyn and by the Securities and Exchange Commission report
  • The Pentagon is pushing to make the F-35 combat jet cheaper and will take over some repair work to prevent the world’s most expensive military program from becoming unaffordable.
  • runlai_jiang on 04 Mar 18
     
    Trump promised to restrict gun purchase but the reliability is still a question mark
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Third bank cuts ties with Trump after Capitol riot | TheHill - 0 views

thehill.com/...-with-trump-after-capitol-riot trump bank capitol insurrection
shared by hannahcarter11 on 13 Jan 21 - No Cached
  • A third bank declared its plans to cut ties with President TrumpDonald TrumpGrowing number of GOP lawmakers say they support impeachment YouTube temporarily bars uploading of new content on Trump's channel House passes measure calling on Pence to remove Trump MORE and the Trump Organization on Tuesday in the aftermath of the raid on the Capitol last week.
  • Florida-based Professional Bank, which once provided Trump with an $11 million mortgage, announced that it won’t conduct future business with the president or his organization.
  • The Florida bank represents the third bank to end its relationship with Trump and the Trump Organization after a pro-Trump mob breached and vandalized the Capitol building last week in an attempt to disrupt Congress’s certification of President-elect Joe BidenJoe BidenGrowing number of GOP lawmakers say they support impeachment House passes measure calling on Pence to remove Trump Disney, Walmart say they will block donations to lawmakers who objected to Electoral College results MORE’s Electoral College win.
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  • The New York-based Signature Bank announced that it would close down Trump’s personal accounts that have about $5.3 million due to the “displeasure and shock” management experienced following the Capitol riots.&nbsp;
  • Earlier this week, Bloomberg News reported that Deutsche Bank would not conduct future business with Trump or his company besides monitoring the payment of existing loans amounting to more than $300 million.&nbsp;
  • The deadly riots resulted in at least five deaths, including a Capitol Police officer and a woman shot by a plain clothes Capitol Police officer.
  • The New York bank also called on the president to resign and said it would not make future agreements with lawmakers who contested the Electoral College results after the riots.
  • “We witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty,” the statement continued.
  • Eric TrumpEric TrumpLet's make Wednesday, Jan. 6, 2021 the day Trumpism died Ivanka Trump urges 'patriots' storming Capitol to 'stop immediately' in now-deleted tweet Eric Trump warns of primary challenges for Republicans who don't object to election results MORE, one of the president’s sons put in charge of day-to-day operations of the Trump Organization, told The Associated Press that banks and other companies ending their relationship with the business after the riots exemplifies a liberal “cancel culture.”
  • “If you disagree with them, if they don’t like you, they try and cancel you.”
  • Several companies, in addition to the banks, have distanced themselves from the president after last week’s events, including Shopify, which took down trumpstore.com, and PGA of America, which moved a 2022 championship away from Trump property.
  • New York City declared on Wednesday that it would end contracts with the Trump Organization to run attractions in the city’s park, with Mayor Bill de BlasioBill de BlasioRepublican Staten Island candidate apologizes for Hitler reference New York City considering ending business contracts with Trump Columnist Ross Barkan discusses the slow vaccination process in the state of New York MORE (D) saying, “New York City doesn’t do business with insurrectionists.”
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DHS Warns Of 'Heightened Threat Environment' From Domestic Violent Extremists : Biden T... - 1 views

www.npr.org/...om-domestic-violent-extremists Politics US Biden Trump Department of Homeland Security Violent Extremists
shared by yehbru on 28 Jan 21 - No Cached
  • The Department of Homeland Security issued a bulletin on Wednesday warning of a continued threat from domestic violent extremists.
  • "a heightened threat environment across the United States, which DHS believes will persist in the weeks following the successful Presidential Inauguration."
  • "Information suggests that some ideologically-motivated violent extremists with objections to the exercise of governmental authority and the presidential transition, as well as other perceived grievances fueled by false narratives, could continue to mobilize to incite or commit violence," the bulletin said.
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  • Homeland Security and the FBI issued no such bulletin in advance of the Jan. 6 rally in Washington, D.C., despite chatter online that suggested violence could occur that day. The bulletin posted on Wednesday said some extremists may be "emboldened" by the attack on the U.S. Capitol.
  • It also said that some violent extremists are driven by "long-standing racial and ethnic tension," including opposition to immigration, citing the 2019 shooting at a Walmart in El Paso, Texas, where a gunman killed 23 people.
  • "The domestic terrorism attack on our Capitol earlier this month shined a light on a threat that has been right in front of our faces for years. I am glad to see that DHS fully recognizes the threat posed by violent, right-wing extremists, and is taking efforts to communicate that threat to the American people," he said in a statement posted on Twitter.
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The Widening Gap Between the Super-Rich and Other Americans | History News Network - 0 views

hnn.us/173406 rich inequality us poverty corporate billionaire
shared by Javier E on 27 Oct 19 - No Cached
  • in 2018, the average pay of CEOs at America’s 350 top firms hit $17.2 million―an increase, when adjusted for inflation, of 1,007.5 percent since 1978.&nbsp;&nbsp;By contrast, the typical worker’s wage, adjusted for inflation, grew by only 11.9 percent over this 40-year period.
  • In 1965, the ratio of CEO-to-worker’s pay stood at 20-to-1; by 2018 (when CEOs received another hefty pay raise and workers received a 0.2 percent pay cut), it had reached 278-to-1.&nbsp;&nbsp;
  • average CEO pay in 2018 had increased by $5.2 million over the preceding 10 years.&nbsp;&nbsp;This resulted in an average CEO-to-worker pay ratio of 287-to-1.
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  • According to the&nbsp;AFL-CIO, the CEO-to-worker pay ratio at Walmart (America’s largest private employer) is 1,076 to 1, at Walt Disney Company 1,424-to-1, at McDonald’s 2,124-to-1, and at Gap 3,566-to-1
  • At 49 S&amp;P 500 firms, noted an&nbsp;Institute for Policy Studies report, half the work force―that is, 3.7 million employees―received wages below the official U.S. poverty line for a family of four.
  • “average Americans have spent this entire century on a treadmill getting nowhere fast.&nbsp;&nbsp;The nation’s median―most typical―households pocketed 2.3 percent fewer real dollars in 2018 than they earned in 2000.”
  • in 2018, the nation’s income inequality reached the highest level since the U.S. Census Bureau began measuring it five decades before
  • Bernie Sanders reminded Americans that just three U.S. billionaires (Jeff Bezos, Bill Gates, and Warren Buffett) possessed as much wealth as half the people in the United States combined
  • the three richest U.S. families―the Waltons (owners of Walmart), the Mars candy family, and the Koch family (owners of a vast fossil fuel conglomerate)―possessed a combined fortune ($348.7 billion), which is 4 million times the wealth of the median U.S. family.
  • the ten wealthiest Americans (with riches ranging from $53 billion to $107.5 billion each) had combined wealth of $697 billion―or an average of $69.7 billion each.&nbsp;&nbsp;Assuming that, henceforth, they had no further income and had limitless longevity, they could each spend a million dollars a day for approximately 191 years.
  • &nbsp;In&nbsp;2018, 38.1 million Americans lived below the U.S. government’s official poverty threshold, including many people working at multiple jobs
  • another 93.6 million Americans lived close to poverty, bringing the total of impoverished and near-impoverished people to nearly 42 percent of the U.S. population.&nbsp;&nbsp;
  • in 2019, for the first time in a century,&nbsp;life expectancy&nbsp;in the United States declined for three consecutive years
  • &nbsp;Suicide rates, which closely correlate with poverty, increased by 33 percent since 1999
  • America’s ultra-wealthy, who, in addition to&nbsp;pouring money&nbsp;into the campaign coffers of politicians that safeguard and expand their fortunes,&nbsp;continue purchases&nbsp;like one multi-billionaire’s acquisition of a $238 million Manhattan penthouse―a supplement to his two floors at the Waldorf Astoria hotel in Chicago ($30 million), Miami Beach penthouse ($60 million), Chicago penthouse ($59 million), and additional apartment in Manhattan ($40 million)
  • 131-floor&nbsp;Central Park Tower&nbsp;building which, when completed, will become the tallest, most expensive residential dwelling in the United States.&nbsp;&nbsp;It&nbsp;will feature179 luxury condos ranging in price from $6.9 million to $95 million and a seven-story Nordstrom flagship store with six restaurants, plus three floors of “amenity space” (dubbed the Central Park Club) spanning 50,000 square feet, with an outdoor terrace, pools, a wellness center, and a massive ballroom.
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Amazon Prime Day Is Dystopian - The Atlantic - 0 views

www.theatlantic.com/...619265 Amazon power influence prime policy history
shared by Javier E on 19 Sep 22 - No Cached
  • hen Prime was introduced, in 2005, Amazon was relatively small, and still known mostly for books. As the company’s former director of ordering, Vijay Ravindran, told Recode’s Jason Del Rey in 2019, Prime “was brilliant. It made Amazon the default.”
  • It created incentives for users to be loyal to Amazon, so they could recoup the cost of membership, then $79 for unlimited two-day shipping. It also enabled Amazon to better track the products they buy and, when video streaming was added as a perk in 2011, the shows they watch, in order to make more things that the data indicated people would want to buy and watch, and to surface the things they were most likely to buy and watch at the very top of the page.
  • And most important, Prime habituated consumers to a degree of convenience, speed, and selection that, while unheard-of just years before, was made standard virtually overnight.
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  • “It is genius for the current consumer culture,” Christine Whelan, a clinical professor of consumer science at the University of Wisconsin at Madison, told me. “It encourages and then meets the need for the thing, so we then continue on the hedonic treadmill: Buy the latest thing we want and then have it delivered immediately and then buy the next latest thing.”
  • With traditional retail, “there’s the friction of having to go to the store, there’s the friction of will the store have it, there’s the friction of carrying it,” Whelan said. “There’s the friction of having to admit to another human being that you’re buying it. And when you remove the friction, you also remove a lot of individual self-control. The more you are in the ecosystem and the easier it is to make a purchase, the easier it is to say yes to your desire rather than no.”
  • “It used to be that being a consumer was all about choice,”
  • But now, “two-thirds of people start their product searches on Amazon.
  • Prime discourages comparison shopping—looking around is pointless when everything you need is right here—even as Amazon’s sheer breadth of products makes shoppers feel as if they have agency.
  • “Consumerism has become a key way that people have misidentified freedom,”
  • what Amazon represents is a corporate infrastructure that is increasingly directed at getting as many consumers as possible locked into a consumerist process—an Amazon consumer for life.”
  • Amazon offers steep discounts to college students and new parents, two groups that are highly likely to change their buying behavior. It keeps adding more discounts and goodies to the Prime bundle, making subscribing ever more appealing. And, in an especially sinister move, it makes quitting Prime maddeningly difficult.
  • As subscription numbers grew through the 2010s, the revenue from them helped Amazon pump more money into building fulfillment centers (to get products to people even faster), acquiring new businesses (to control even more of the global economy), and adding more perks to the bundle (to encourage more people to sign up)
  • In 2019, Amazon shaved a full day off its delivery time, making one-day shipping the default, and also making Prime an even more tantalizing proposition: Why hop in the car for anything at all when you could get it delivered tomorrow, for free?
  • the United States now has more Prime memberships than households. In 2020,
  • Amazon’s revenue from subscriptions alone—mostly Prime—was $25.2 billion, which is a 31 percent increase from the previous year
  • Thanks in large part to the revenue from Prime subscriptions and from the things subscribers buy, Amazon’s value has multiplied roughly 97 times, to $1.76 trillion, since the service was introduced. Amazon is the second-largest private employer in the United States, after Walmart, and it is responsible for roughly 40 percent of all e-commerce in the United States.
  • It controls hundreds of millions of square feet across the country and is opening more fulfillment centers all the time. It has acquired dozens of other companies, most recently the film studio MGM for $8.5 billion. Its cloud-computing operation, Amazon Web Services, is the largest of its kind and provides the plumbing for a vast swath of the internet, to a profit of $13.5 billion last year.
  • Amazon has entered some 40 million American homes in the form of the Alexa smart speaker, and some 150 million American pockets in the form of the Amazon app
  • “Amazon is a beast we’ve never seen before,” Alimahomed-Wilson told me. “Amazon powers our Zoom calls. It contracts with ICE. It’s in our neighborhoods. This is a very different thing than just being a large retailer, like Walmart or the Ford Motor Company.”
  • I find it useful to compare Big Tech to climate change, another force that is altering the destiny of everyone on Earth, forever. Both present themselves to us all the time in small ways—a creepy ad here, an uncommonly warm November there—but are so big, so abstract, so everywhere that they’re impossible for any one person to really understand
  • Both are the result of a decades-long, very human addiction to consumption and convenience that has been made grotesque and extreme by the incentives and mechanisms of the internet, market consolidation, and economic stratification
  • Both have primarily been advanced by a small handful of very big companies that are invested in making their machinations unseeable to the naked eye.
  • Speed and convenience aren’t actually free; they never are. Free shipping isn’t free either. It just obscures the real price.
  • Next-day shipping comes with tremendous costs: for labor and logistics and transportation and storage; for the people who pack your stuff into those smiling boxes and for the people who deliver them; for the planes and trucks and vans that carry them; for the warehouses that store them; for the software ensuring that everything really does get to your door on time, for air-conditioning and gas and cardboard and steel. Amazon—Prime in particular—has done a superlative job of making all those costs, all those moving parts, all those externalities invisible to the consumer.
  • The pandemic drove up demand for Amazon, and for labor: Last year, company profits shot up 70 percent, Bezos’s personal wealth grew by $70 billion, and 1,400 people a day joined the company’s workforce.
  • Amazon is so big that every sector of our economy has bent to respond to the new way of consuming that it invented. Prime isn’t just bad for Amazon’s workers—it’s bad for Target’s, and Walmart’s. It’s bad for the people behind the counter at your neighborhood hardware store and bookstore, if your neighborhood still has a hardware store and a bookstore. Amazon has accustomed shoppers to a pace and manner of buying that depends on a miracle of precision logistics even when it’s managed by one of the biggest companies on Earth. For the smaller guys, it’s downright impossible.
  • “Every decision we make is based upon the fact that Amazon can get these books cheaper and faster. The prevailing expectation is you can get anything online shipped for”— he scrunched his fingers into air quotes—“‘free,’ in one or two days. And there’s really only one company that can do that. They do that because they’re willing to push and exploit their workers.”
  • Just as abstaining from flying for moral reasons won’t stop sea-level rise, one person canceling Prime won’t do much of anything to a multinational corporation’s bottom line. “It’s statistically insignificant to Amazon. They’ll never feel it,” Caine told me. But, he said, “the small businesses in your neighborhood will absolutely feel the addition of a new customer. Individual choices do make a big difference to them.”
  • Whelan teaches a class at UW called Consuming Happiness, and she is fond of giving her students the adage that you can buy happiness—“if you spend your money in keeping with your values: spending prosocially, on experiences. Tons of research shows us this.”
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Barnes &amp; Noble Takes Page From Amazon With $40-a-Year Membership Program - WSJ - 0 views

www.wsj.com/...ar-membership-program-11b1dcbc book industry trends amazon culture
shared by Javier E on 18 Feb 23 - No Cached
  • Barnes &amp; Noble is launching a $40-a-year membership program that promises to offer 10% discounts, free shipping, a tote bag and bigger lattes to its members.&nbsp;
  • In asking customers to pay an annual fee for a range of perks, the largest bookstore chain in the U.S. is following some of its competitors, including Amazon. com Inc. and Walmart Inc., whose respective Prime and Walmart+ programs offer no-minimum free shipping, among other benefits.
  • The bookseller is also launching a free, lower-tier membership program that allows members to earn a virtual stamp for every $10 spent online and in stores, and translate into a $5 credit for future purchases once 10 stamps have been accumulated. People who sign up for the $40 program also get the rebates.
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  • “If you don’t have a free program, the vast majority of your customers are blank to you,”
  • Mr. Daunt said the new paid-membership program would replace a previous one, which offered discounts for purchases made inside Barnes &amp; Noble’s physical stores—as well as free shipping for most online orders—and cost $25 a year. That plan didn’t extend discounts to online shoppers, a strategy that Mr. Daunt said conflicts with the retailer’s strategy of making books available wherever customers want to buy them.&nbsp;
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The Spiritual Crisis of the Modern Economy - The Atlantic - 0 views

www.theatlantic.com/...511067 crisis spiritual meritocracy grace culture
shared by Javier E on 27 Dec 16 - No Cached
  • This go-it-alone mentality works against the ways that, historically, workers have improved their lot. It encourages workers to see unions and government as flawed institutions that coddle the undeserving, rather than as useful, if imperfect, means of raising the relative prospects of all workers.
  • It also makes it more likely that white workers will direct their frustration toward racial and ethnic minorities, economic scapegoats who are dismissed as freeloaders unworthy of help—in a recent survey, 64 percent of Trump voters (not all of whom, of course, are part of the white working class) agreed that “average Americans” had gotten less they they deserved, but this figure dropped to 12 percent when that phrase was replaced with “blacks.” (Among Clinton voters, the figure stayed steady at 57 percent for both phrases.
  • This is one reason that enacting good policies is, while important, not enough to address economic inequality. What’s needed as well is a broader revision of a culture that makes those who struggle feel like losers.
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  • One explanation for why so many come to that conclusion in the first place has to do with the widening of the gulf between America’s coasts and the region in between them
  • Cities that can entice well-educated professionals are booming, even as “flyover” communities have largely seen good-paying factory work automated or shipped overseas, replaced to a large extent with insecure jobs: Walmart greeters, independent-contractor truck drivers, and the like.
  • a college degree has become the true mark of individual success in America—the sort of white-picket-fence fantasy that drives people well into their elder years to head back to school
  • the white working class that emerged in the 19th century—stitched together from long-combative European ethnic groups—strived to set themselves apart from African Americans, Chinese, and other vilified “indispensable enemies,” and build, by contrast (at least in their view), a sense of workingman pride.
  • this last election was a reminder that white male resentment of “nasty” women and “uppity” racial and other minorities remains strong.
  • That said, many Americans with more stable, better-paid jobs have blind spots of their own. For all of their professed open-mindedness in other areas, millions of the well-educated and well-off who live in or near big cities tend to endorse the notion, explicitly or implicitly, that education determines a person’s value
  • white voters from hard-hit rural areas and hollowed-out industrial towns have turned away from a Democratic Party that has offered them little in the way of hope and inspiration and much in the way of disdain and blame.
  • such a fervent belief in the transformative power of education also implies that a lack of it amounts to personal failure—being a “stupid” person
  • As much as both liberals and conservatives have touted education as a means of attaining social mobility, economic trends suggest that this strategy has limits, especially in its ability to do anything about the country’s rapidly growing inequalities
  • Well into the 21st century, two-thirds of Americans age 25 and over do not have a bachelor’s degree. The labor market has become more polarized, as highly paid jobs for workers with middling levels of education and skill dwindle away.
  • even some workers I spoke to—all former union members—said they felt that people without a good education did not deserve to make a good living.
  • The rules of meritocracy that these blue-collar workers say they admire barely apply to the very top levels of the economy. Groups of elite workers—professionals, managers, financial workers, tenured professors—continue to wall themselves off from competition. They still organize collectively, through lobbying, credentialing, licensing, and other strategies. But fewer ordinary workers have the same ability to do so
  • What has emerged in the new economy, then, is a stunted meritocracy: meritocracy for you, but not for me
  • One of the few things he could really depend on was his church. He volunteered on their Sunday-school bus, leading the kids in singing songs. “It helps to be around young people,” he said. For many of the jobless workers I interviewed, religion and tradition provided a sense of community and a feeling that their lives had purpose.
  • However exaggerated by stereotypes, the urbane, urban values of the well-educated professional class, with its postmodern cultural relativism and its rejection of old dogmas, are not attractive alternatives to what the working class has long relied on as a source of solace.
  • In the absence of other sources of meaning, Americans are left with meritocracy, a game of status and success, along with the often ruthless competition it engenders. And the consequence of a perspective of self-reliance—Americans, compared to people in other countries, hold a particularly strong belief that people succeed through their own hard work—is a sense that those who fail are somehow inferior
  • The concept of grace comes from the Christian teaching that everyone, not just the deserving, is saved by God’s grace. Grace in the broader sense that I (an agnostic) am using, however, can be both secular and religious. In the simplest terms, it is about refusing to divide the world into camps of deserving and undeserving, as those on both the right and left are wont to do
  • It rejects an obsession with excusing nothing, with measuring and judging the worth of people based on everything from a spotty résumé to an offensive comment.
  • Unlike an egalitarian viewpoint focused on measuring and leveling inequalities, grace rejects categories of right and wrong, just and unjust, and offers neither retribution nor restitution, but forgiveness.
  • With a perspective of grace, it becomes clearer that America, the wealthiest of nations, possesses enough prosperity to provide adequately for all. It becomes easier to part with one’s hard-won treasure in order to pull others up, even if those being helped seem “undeserving”—a label that today serves as a justification for opposing the sharing of wealth on the grounds that it is a greedy plea from the resentful, idle, and envious.
  • ignorance shouldn’t be considered an irremediable sin. Yet many of the liberal, affluent, and college-educated too often reduce the beliefs of a significant segment of the population to a mash of evil and delusion
  • From gripes about the backwardness and boredom of small-town America to jokes about “rednecks” and “white trash” that are still acceptable to say in polite company, it’s no wonder that the white working class believes that others look down on them. That’s not to say their situation is worse than that of the black and Latino working classes—it’s to say that where exactly they fit in the hierarchy of oppression is a question that leads nowhere, given how much all these groups have struggled in recent decades.
  • While there are no simple explanations for the desperation and anger visible in many predominantly white working-class communities, perhaps the most astute and original diagnosis came from the rabbi and activist Michael Lerner, who, in assessing Donald Trump’s victory, looked from a broader vantage point than most. Underneath the populist ire, he wrote, was a suffering “rooted in the hidden injuries of class and in the spiritual crisis that the global competitive marketplace generates.”
  • That cuts right to it. The modern economy privileges the well-educated and highly-skilled, while giving them an excuse to denigrate the people at the bottom (both white and nonwhite) as lazy, untalented, uneducated, and unsophisticated.
  • many well-off Americans from across the political spectrum scorn the white working class in particular for holding onto religious superstitions and politically incorrect views, and pity them for working lousy jobs at dollar stores and fast-food restaurants that the better-off rarely set foot in
  • This system of categorizing Americans—the logical extension of life in what can be called an extreme meritocracy—can be pernicious: The culture holds up those who succeed as examples, however anecdotal, that everyone can make it in America. Meanwhile, those who fail attract disdain and indifference from the better-off, their low status all the more painful because it is regarded as deserved.
  • the shame of low status afflicts not just the unemployed, but also the underemployed. Their days are no longer filled with the dignified, if exhausting, work of making real things.
  • For less educated workers (of all races) who have struggled for months or years to get another job, failure is a source of deep shame and a reason for self-blame. Without the right markers of merit—a diploma, marketable skills, a good job—they are “scrubs” who don’t deserve romantic partners, “takers” living parasitically off the government, “losers” who won’t amount to anything
  • Even those who consider themselves lucky to have jobs can feel a sense of despair, seeing how poorly they stand relative to others, or how much their communities have unraveled, or how dim their children’s future seems to be: Research shows that people judge how well they’re doing through constant comparisons, and by these personal metrics they are hurting, whatever the national unemployment rate may be.
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A Conservative Case for Climate Action - The New York Times - 0 views

www.nytimes.com/...e-case-for-climate-action.html conservative climate change policy
shared by Javier E on 08 Feb 17 - No Cached
  • an ideal climate policy would reduce carbon emissions, limit regulatory intrusion, promote economic growth, help working-class Americans and prove durable when the political winds change.
  • We have laid out such a plan in a paper to be released Wednesday by the Climate Leadership Council.
  • Our co-authors include James A. Baker III, Treasury secretary for President Ronald Reagan and secretary of state for President George H. W. Bush; Henry M. Paulson Jr., Treasury secretary for President George W. Bush; George P. Shultz, Treasury secretary for President Richard Nixon and secretary of state for Mr. Reagan; Thomas Stephenson, a partner at Sequoia Capital, a venture-capital firm; and Rob Walton, who recently completed 23 years as chairman of Walmart.
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  • Our plan is built on four pillars.
  • First, the federal government would impose a gradually increasing tax on carbon dioxide emissions
  • Second, the proceeds would be returned to the American people on an equal basis via quarterly dividend checks. With a carbon tax of $40 per ton, a family of four would receive about $2,000 in the first year.
  • Third, American companies exporting to countries without comparable carbon pricing would receive rebates on the carbon taxes they’ve paid on those products, while imports from such countries would face fees on the carbon content of their products
  • Finally, regulations made unnecessary by the carbon tax would be eliminated, including an outright repeal of the Clean Power Plan.
  • Our own analysis finds that a carbon dividends program starting at $40 per ton would achieve nearly twice the emissions reductions of all Obama-era climate regulations combined
  • According to a recent Treasury Department study, the bottom 70 percent of Americans would come out ahead under a carbon dividends plan. Some 223 million Americans stand to benefit.
  • Republicans are in charge of both Congress and the White House. If they do nothing other than reverse regulations from the Obama administration, they will squander the opportunity to show the full power of the conservative canon, and its core principles of free markets, limited government and stewardship.
  • A repeal-only climate strategy would prove quite unpopular. Recent polls show that 64 percent of Americans are concerned about climate change, 71 percent want America to remain in the Paris agreement, and an even larger share favor clean energy.
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Inside Amazon: Wrestling Big Ideas in a Bruising Workplace - The New York Times - 0 views

www.nytimes.com/...s-in-a-bruising-workplace.html amazon lifestyle career workplace
shared by Javier E on 18 Aug 15 - No Cached
  • At Amazon, workers are encouraged to tear apart one another’s ideas in meetings, toil long and late (emails arrive past midnight, followed by text messages asking why they were not answered), and held to standards that the company boasts are “unreasonably high.” The internal phone directory instructs colleagues on how to send secret feedback to one another’s bosses. Employees say it is frequently used to sabotage others. (The tool offers sample texts, including this: “I felt concerned about his inflexibility and openly complaining about minor tasks.”)
  • The company’s winners dream up innovations that they roll out to a quarter-billion customers and accrue small fortunes in soaring stock. Losers leave or are fired in annual cullings of the staff — “purposeful Darwinism,”
  • his enduring image was watching people weep in the office, a sight other workers described as well. “You walk out of a conference room and you’ll see a grown man covering his face,” he said. “Nearly every person I worked with, I saw cry at their desk.”
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  • Last month, it eclipsed Walmart as the most valuable retailer in the country, with a market valuation of $250 billion, and Forbes deemed Mr. Bezos the fifth-wealthiest person on earth.
  • Others who cycled in and out of the company said that what they learned in their brief stints helped their careers take off. And more than a few who fled said they later realized they had become addicted to Amazon’s way of working.
  • Amazon may be singular but perhaps not quite as peculiar as it claims. It has just been quicker in responding to changes that the rest of the work world is now experiencing: data that allows individual performance to be measured continuously, come-and-go relationships between employers and employees, and global competition in which empires rise and fall overnight. Amazon is in the vanguard of where technology wants to take the modern office: more nimble and more productive, but harsher and less forgiving.
  • “Organizations are turning up the dial, pushing their teams to do more for less money, either to keep up with the competition or just stay ahead of the executioner’s blade,”
  • At its best, some employees said, Amazon can feel like the Bezos vision come to life, a place willing to embrace risk and strengthen ideas by stress test. Employees often say their co-workers are the sharpest, most committed colleagues they have ever met, taking to heart instructions in the leadership principles like “never settle” and “no task is beneath them.”
  • In contrast to companies where declarations about their philosophy amount to vague platitudes, Amazon has rules that are part of its daily language and rituals, used in hiring, cited at meetings and quoted in food-truck lines at lunchtime
  • “You can work long, hard or smart, but at Amazon.com you can’t choose two out of three,” Mr. Bezos wrote in his 1997 letter to shareholders
  • mazon, though, offers no pretense that catering to employees is a priority. Compensation
  • As the company has grown, Mr. Bezos has become more committed to his original ideas, viewing them in almost moral terms, those who have worked closely with him say. “My main job today: I work hard at helping to maintain the culture,”
  • perhaps the most distinctive is his belief that harmony is often overvalued in the workplace — that it can stifle honest critique and encourage polite praise for flawed ideas. Instead, Amazonians are instructed to “disagree and commit” (
  • According to early executives and employees, Mr. Bezos was determined almost from the moment he founded Amazon in 1994 to resist the forces he thought sapped businesses over time — bureaucracy, profligate spending, lack of rigor. As the company grew, he wanted to codify his ideas about the workplace, some of them proudly counterintuitive, into instructions simple enough for a new worker to understand, general enough to apply to the nearly limitless number of businesses he wanted to enter and stringent enough to stave off the mediocrity he feared.
  • Every aspect of the Amazon system amplifies the others to motivate and discipline the company’s marketers, engineers and finance specialists: the leadership principles; rigorous, continuing feedback on performance; and the competition among peers who fear missing a potential problem or improvement and race to answer an email before anyone else.
  • But in its offices, Amazon uses a self-reinforcing set of management, data and psychological tools to spur its tens of thousands of white-collar employees to do more and more. “The company is running a continual performance improvement algorithm on its staff,” said Amy Michaels, a former Kindle marketer.
  • As the newcomers acclimate, they often feel dazzled, flattered and intimidated by how much responsibility the company puts on their shoulders and how directly Amazon links their performance to the success of their assigned projects
  • Company veterans often say the genius of Amazon is the way it drives them to drive themselves. “If you’re a good Amazonian, you become an Amabot,” said one employee, using a term that means you have become at one with the system.
  • many others said the culture stoked their willingness to erode work-life boundaries, castigate themselves for shortcomings (being “vocally self-critical” is included in the description of the leadership principles) and try to impress a company that can often feel like an insatiable taskmaster.
  • A 2013 survey by PayScale, a salary analysis firm, put the median employee tenure at one year, among the briefest in the Fortune 500
  • To prod employees, Amazon has a powerful lever: more data than any retail operation in history. Its perpetual flow of real-time, ultradetailed metrics allows the company to measure nearly everything its customers do:
  • Amazon employees are held accountable for a staggering array of metrics, a process that unfolds in what can be anxiety-provoking sessions called business reviews, held weekly or monthly among various teams. A day or two before the meetings, employees receive printouts, sometimes up to 50 or 60 pages long, several workers said. At the reviews, employees are cold-called and pop-quizzed on any one of those thousands of numbers.
  • Ms. Willet’s co-workers strafed her through the Anytime Feedback Tool, the widget in the company directory that allows employees to send praise or criticism about colleagues to management. (While bosses know who sends the comments, their identities are not typically shared with the subjects of the remarks.) Because team members are ranked, and those at the bottom eliminated every year, it is in everyone’s interest to outperform everyone else.
  • many workers called it a river of intrigue and scheming. They described making quiet pacts with colleagues to bury the same person at once, or to praise one another lavishly. Many others, along with Ms. Willet, described feeling sabotaged by negative comments from unidentified colleagues with whom they could not argue
  • The rivalries at Amazon extend beyond behind-the-back comments. Employees say that the Bezos ideal, a meritocracy in which people and ideas compete and the best win, where co-workers challenge one another “even when doing so is uncomfortable or exhausting,” as the leadership principles note, has turned into a world of frequent combat
  • Resources are sometimes hoarded. That includes promising job candidates, who are especially precious at a company with a high number of open positions. To get new team members, one veteran said, sometimes “you drown someone in the deep end of the pool,” then take his or her subordinates. Ideas are critiqued so harshly in meetings at times that some workers fear speaking up.
  • David Loftesness, a senior developer, said he admired the customer focus but could not tolerate the hostile language used in many meetings, a comment echoed by many others.
  • Each year, the internal competition culminates at an extended semi-open tournament called an Organization Level Review, where managers debate subordinates’ rankings, assigning and reassigning names to boxes in a matrix projected on the wall. In recent years, other large companies, including Microsoft, General Electric and Accenture Consulting, have dropped the practice — often called stack ranking, or “rank and yank” — in part because it can force managers to get rid of valuable talent just to meet quotas.
  • Molly Jay, an early member of the Kindle team, said she received high ratings for years. But when she began traveling to care for her father, who was suffering from cancer, and cut back working on nights and weekends, her status changed. She was blocked from transferring to a less pressure-filled job, she said, and her boss told her she was “a problem.” As her father was dying, she took unpaid leave to care for him and never returned to Amazon.
  • “When you’re not able to give your absolute all, 80 hours a week, they see it as a major weakness,” she said.
  • A woman who had thyroid cancer was given a low performance rating after she returned from treatment. She says her manager explained that while she was out, her peers were accomplishing a great deal. Another employee who miscarried twins left for a business trip the day after she had surgery. “I’m sorry, the work is still going to need to get done,” she said her boss told her. “From where you are in life, trying to start a family, I don’t know if this is the right place for you.”
  • A woman who had breast cancer was told that she was put on a “performance improvement plan” — Amazon code for “you’re in danger of being fired” — because “difficulties” in her “personal life” had interfered with fulfilling her work goals. Their accounts echoed others from workers who had suffered health crises and felt they had also been judged harshly instead of being given time to recover.
  • Amazon retains new workers in part by requiring them to repay a part of their signing bonus if they leave within a year, and a portion of their hefty relocation fees if they leave within two years.
  • In interviews, 40-year-old men were convinced Amazon would replace them with 30-year-olds who could put in more hours, and 30-year-olds were sure that the company preferred to hire 20-somethings who would outwork them. A
  • “One time I didn’t sleep for four days straight,” said Dina Vaccari, who joined in 2008 to sell Amazon gift cards to other companies and once used her own money, without asking for approval, to pay a freelancer in India to enter data so she could get more done. “These businesses were my babies, and I did whatever I could to make them successful.”
  • Recruiters, though, also say that other businesses are sometimes cautious about bringing in Amazon workers, because they have been trained to be so combative. The derisive local nickname for Amazon employees is “Amholes” — pugnacious and work-obsessed.
  • By the time the dust settles in three years, Amazon will have enough space for 50,000 employees or so, more than triple what it had as recently as 2013.
  • just as Jeff Bezos was able to see the future of e-commerce before anyone else, she added, he was able to envision a new kind of workplace: fluid but tough, with employees staying only a short time and employers demanding the maximum.
  • “Amazon is driven by data,” said Ms. Pearce, who now runs her own Seattle software company, which is well stocked with ex-Amazonians. “It will only change if the data says it must — when the entire way of hiring and working and firing stops making economic sense.”
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Kentucky Teens Dalton Hayes, Cheyenne Phillips on the Run for 12 Days - NBC News.com - 0 views

www.nbcnews.com/...e-phillips-run-12-days-n287301
shared by gaglianoj on 17 Jan 15 - No Cached
  • "It is imperative that these two be located and apprehended as their behavior is becoming increasingly brazen and dangerous," the Grayson County Sheriff's Office said in a statement.
  • They're accused of stealing a neighbor's red Toyota pickup truck, which was spotted on security video nine days later outside a Walmart store in Manning
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