big business

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In Liberal Vermont, a Secession Movement Rises

Unlikely coalition has a voice in state politics

(Newser) - It's not only Texans : A small but dedicated band of Vermont activists also want to secede from the Union, Prospect.org reports. Railing at the effects of big business and bureaucracy on daily life, they speak at the state legislature, get bills introduced, and run candidates—though none so... More »

Beware Crony Gun Control

Matt Lewis is worried that Walmart is going to cut a deal with the administration

(Newser) - When President Obama took on health care, he wasted no time getting big business onboard, even managing to get big pharmaceutical companies to spend $70 million fighting US Chamber of Commerce attacks. And "if you substitute the name Walmart for Big Pharma—and the NRA for the Chamber of... More »

Home Depot Closing 7 Big-Box Stores in China

Other US companies have learned to adapt there

(Newser) - Home Depot has learned about Chinese culture the hard way. The home improvement chain is shuttering its seven big-box stores there because the Chinese—who live mostly in apartments and have access to cheap labor—aren't interested in "do-it-yourself" supplies, the Wall Street Journal reports. So Home Depot... More »

Crooked Corporate America Is Killing Capitalism

Scandals destroying trust, which markets need to function

(Newser) - With Britain's Libor scandal piling on top of an endless parade of stories of crooked finances—hundreds of billions of dollars in lousy mortgages and securities, entire towns going bankrupt , Wall Street execs saying they need to break the law to be successful, and more—Americans' trust in banks,... More »

Recession Was Great— for Big Business

Firms come out streamlined; still slow to hire

(Newser) - For some of America's biggest companies, the recession amounted to growing pains: They're now "leaner, meaner, and hungrier," says one economist. Indeed, sales, profits, and employment among S&P 500 companies last year beat figures from 2007—before the crisis began, the Wall Street Journal notes... More »

Big Biz Seeking to Cut Pension Funding

Companies complain they're being forced to sit on too much cash

(Newser) - Low interest rates are forcing major employers to put too much money into their pension funds, according to business groups urging Congress to allow contributions to be cut. A measure attached to the Senate highway bill would change the formula major employers use to calculate contributions to defined-benefit pension plans,... More »

10 Industries the US No Longer Rules

We're No. 2! We're No. 2!

(Newser) - When it comes to business, Americans have long been used to being on top—but oh, how the mighty have fallen in some arenas. 24/7 Wall Street breaks down the top 10 industries in which "Made in the USA" doesn't dominate as it once did:
  • Autos—High labor costs
... More »

Time for Big Business to Squash Tea Party

Corporate America must battle extremism

(Newser) - Big business may see the Tea Party as harmless, or perhaps even helpful, but it's time to “take a closer look:" the movement’s aspirations aren’t in its interests, writes Robert Reich in the Christian Science Monitor . Some 60% of Tea Partiers want, for example, to dump... More »

Big Business Will Regret Empowering Jim DeMint

Steven Pearlstein: Warns business leaders to be careful what they wish for

(Newser) - Steven Pearlstein warns the business community not to get too excited about the prospect of Jim DeMint and company dealing a humbling defeat to Democrats in the midterms: "You're about to create a political monster that you can't control, one bent not on reforming but on destroying the institutional... More »

Angry CEOs Aren't Shy About Blasting Obama

They're worried about taxes, regulations

(Newser) - Big-business CEOs are unloading on President Obama with unusual ferocity, writes Michael Brush at MSN Money . Consider the following attacks:
  • Verizon CEO Ivan Seidenberg says Obama has created an "increasingly hostile environment for investment and job creation."
  • Cypress Semiconductor's TJ Rodgers thinks it's "amateur hour in Washington.
... More »

Dems, Not GOP, Are Party of Big Business

Anti-free market reform is the only thing keeping fat cats alive

(Newser) - The idea that the GOP is the “party of big business” is a convenient fabrication, Jonah Goldberg writes, that handily deflects blame from the progressives who have historically been in bed with the fat cats—particularly the health care industry. Just look at GE during the Great Depression, when... More »

Big Business to 'Swarm' DC to Back Climate Bill

Bucking conventional wisdom, eBay, Gap, others push for action

(Newser) - More than 150 business leaders plan to “swarm” Capitol Hill over the next two days in support of climate change legislation. Hailing from such disparate companies as eBay, the Gap, and PG&E, the executives say having a law in place would give them confidence in their long-term planning,... More »

Big Business Wants to Put Global Warming on Trial

(Newser) - Facing broad new US regulations on emissions, big business wants to put the science behind global warming before a judge, the Los Angeles Times reports. “It would be evolution versus creationism,” says an executive for the US Chamber of Commerce, which is pushing the idea of a public... More »

GOP: Dems Buddying Up to Big Business

Irony-proof party employs new strategy to battle climate bill

(Newser) - Senate Republicans are turning the tables on Democrats as the GOP battles a bill to fight climate change, Politico reports. A strategy memo says Republicans should paint the opposition as the party of big business, suggesting Dems are cozying up to “Wall Street traders,” “polluters,” and... More »

Big Biz, Dems Rebel on Offshore Tax Reforms

Business groups and lawmakers worry about effect on US competitiveness

(Newser) - President Obama’s plan to crack down on the tax practices of US-based multinationals has elicited much squawking from business groups and lawmakers who fear it may limit the competitiveness of American firms, the Hill reports. Even Democrats have greeted Obama’s proposals with trepidation: “I want to make... More »

In Jarrett, Wall St. Finds Direct Line to Obama

Firms salute efforts of White House 'consigliere'

(Newser) - Valerie Jarrett wears many hats in the White House: “If there’s a consigliere, it’s Valerie,” says the head of President Obama’s transition team. Lately, however, the longtime family friend has chiefly been Obama’s ambassador to big business, Bloomberg reports. She “picks the brains”... More »

GOP Launches Offensive on Pro-Union Bill

Big business is paying big bucks to lobby against 'card check' bill

(Newser) - Republican lobbyists are swarming Capitol Hill this week, launching the battle over the pro-union Employee Free Choice Act—a fight one Chamber of Commerce exec describes as "Armageddon." Legions of GOP operatives are being enlisted to spend tens of millions of dollars offered by large corporations like Wal-Mart,... More »

Laid-Off? Be Your Own Boss

Interest in small business is booming as unemployment rises

(Newser) - The pink slips are flowing, but that’s not halting thousands from using severance packages and savings to found their own businesses, the Christian Science Monitor reports. The new gigs often bear little resemblance to past ones—one Wall Street exec now walks dogs—and differ from the economy at... More »

Chamber of Commerce Plugs Cash Into Tight GOP Races

Fearing a big Senate majority for Dems, organization may spend up to $35M

(Newser) - The US Chamber of Commerce, the nation’s largest business lobby, is throwing millions of dollars into an advertising campaign to prevent Democrats from winning a filibuster-proof 60-seat majority in the Senate, the Wall Street Journal reports. The group could spend $35 million, twice what it set aside for all... More »

Maker of Marlboros May Buy Skoal for $10B

(Newser) - The nation’s largest cigarette maker, Altria Group, is in talks to acquire UST, the producer of Skoal and Copenhagen smokeless tobaccos for a rumored $10 billion, the New York Times reports. Altria, a spinoff of Philip Morris, makes Marlboro cigarettes. Negotiators were poised to strike a deal over the... More »

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