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Why Supporting Gay Marriage Is Smart Business

Frank Bruni on why Starbucks, Microsoft, and others are backing change

(Newser) - If you support gay marriage, maybe you should grab a latte at Starbucks sometime soon, because the company is under fire for its support of a same-sex marriage law in its native Washington state. One pastor even called the company " haters of God ," and demanded a boycott. So... More »

Obama on GOP Field: 'I'll Be Ready for Them'

Talks election, economy with Wolf Blitzer

(Newser) - President Obama is not too concerned with the 2012 election right now, he says: “I'll let (the Republicans) winnow it down a little bit.” But when the time comes, “I'll be ready for them,” he tells Wolf Blitzer in a CNN interview . Discussing the... More »

Big Biz to US: We'll Haul in Offshore Loot for Tax Breaks

Repatriation holiday would be 'next stimulus,' they say

(Newser) - Top US firms are calling for temporary tax breaks to bring offshore profits into this country. Google, Apple, and Microsoft are among companies seeking what’s known as a repatriation holiday, asking Congress and the White House to drop the federal income tax rate on the money to 5.25%... More »

US Corporate Profits Reach Record High

But don't expect hiring to follow

(Newser) - Recession or no, US corporate profits hit an all-time high of $1.66 trillion in the last quarter, reports the New York Times . It's the highest figure since the government began tracking the stat more than 60 years ago, though it trails the record set in the third quarter of... More »

US Military a Better Place Than Disney to Work

But Google's still the best boss, survey finds

(Newser) - The US military may seem like grim duty, but it's actually a relatively nice place to work, a new survey found. In fact, members of all four branches of the Armed Forces and the National Guard were happier than employees of Disney, Microsoft, and Johnson & Johnson. “Despite challenges... More »

Campaign Ruling Is a Bombshell—or Not

Washington is 'hyperventilating,' but the impact may not be that profound

(Newser) - Most of the reaction to the Supreme Court's ruling on campaign spending presents it as a bombshell that will open the spigots of corporate and union coffers and radically change how races are run. Today's New York Times , for instance, notes that the ruling calls into question laws in no... More »

Why We Love to Hate Anthropologie

Man Shops Globe was widely panned—but Keith Johnson is just a 'whipping boy'

(Newser) - Man Shops Globe, the show following Anthropologie buyer Keith Johnson, premiered last night to much scoffing from critics—or, as Erika Kawalek calls it on DoubleX, “Anthropologie Rage.” Heather Havrilesky mocks Johnson’s job of “traveling the globe to buy enormous overpriced pieces of weird, ancient junk... More »

Cost-Cutting Companies Target No. 2 Execs

Corporations eliminate second-in-command roles to save on costs

(Newser) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while... More »

High Court May Lift Restrictions on Corporate Cash in Politics

Firms could be allowed to spend freely on ads

(Newser) - September 9 could mark a watershed in campaign finance, as the Supreme Court hears a special argument for overturning long-standing rules that restrict corporations from buying political advertisements, the Los Angeles Times reports. The court has used the case of Hillary: The Movie, a documentary that a lower courts decided... More »

Tax-Evader Crackdown Spreads to Hong Kong

(Newser) - The IRS and Justice Department crackdown on UBS is widening, reports the Wall Street Journal, as new documents reveal the efforts the bank took to keep its clients' wealth away from the taxman. Two recent cases have relied on channeling millions to a Swiss account owned by a Hong Kong-based... More »

Fear of Feds Censors Corporate Tweets

Some complain personal touch disappearing

(Newser) - More big firms are using blogs and Twitter to keep the world up-to-date on company matters—but personal styles are colliding with federal corporate-communications rules, the Wall Street Journal reports. Firms like eBay are now adding disclaimers to once-casual tweets, leaving some readers cold. “There’s much more of... More »

'08 Saw More Raises for CEOs: Survey

(Newser) - More American CEOs than not received raises in 2008, Reuters reports. An AFL-CIO poll of 946 chief executives saw 480 with increased pay, while 463 took a cut. Salaries were up 7%, too; execs with raises earned an average of $5.4 million, while those who saw cuts took in... More »

GE's Immelt Lacks Options

CEO needs to shrink, simplify the business, but can't

(Newser) - Don’t envy GE’s Jeffrey Immelt. Though his core business remains profitable, the CEO presides over a huge, unwieldy empire. Parts of the conglomerate, like GE Capital, have tanked the entire corporation’s share price and caused it to lose its prized AAA credit rating. Worse, Immelt may  have... More »

Walgreens Woos Employers With at-Work Health Care

(Newser) - Walgreens is amping up its effort to interest corporate and government employers in its network of clinics and workplace health centers, the Wall Street Journal reports. The company aims to build on its base of 350-plus corporate clients, and has been steadily snapping up concerns that cater to them. Under... More »

Exec Pay Likely to Stay in Stratosphere

Gov't measures to curb cash have backfired with strategies to win execs even more

(Newser) - Will the financial crisis slash the pay of executives who helped get us into the mess? Probably not, if past trends continue, writes David S. Hilzenrath in the Washington Post. When government in the past has fought to curb bosses’ cash flow, corporate boards have generally found a way to... More »

SEC Wants US Firms to Switch to International Accounting

Multinationals would change first under plan

(Newser) - The Securities and Exchange Commission is planning to require US companies to switch to international accounting rules, the Wall Street Journal reports. The body voted today to seek public comment on a plan for the transition, which would stagger requirements. Large multinational firms would be expected to voluntarily switch in... More »

Obama, McCain Woo CEOs to Shore Up Economic Cred

Candidates try to make up for their lacking economic records

(Newser) - John McCain and Barack Obama are doggedly courting CEOs of leading businesses in an effort to win voters' economic confidence, the Wall Street Journal reports. Each candidate has already lined up a corps of "poster CEOs," including the FedEx chairman, who is supporting McCain, and Warren Buffet, who... More »

CEOs Live the Good Afterlife

Lavish 'severance' payments go to heirs if bosses die at the helm

(Newser) - Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they... More »

Behind Organic Labels Lurk Megacorporations

The nation's top 30 food processors have quietly cornered the green market

(Newser) - Yes, your probiotic flaxseed Kashi cereal is still organic, but shoppers looking to stick it to the man by going green be advised: the nation's top 30 corporate food processors—think Pepsi, Kellogg, Kraft, General Mills—have been quietly buying up vast swaths of the organic aisle of your supermarket,... More »

For Sale: Video Vault of Wal-Mart Inner Workings

Spurned by retailer, production company sells years of footage

(Newser) - A tiny production company has decades of behind-the-scenes moments from Wal-Mart on film—and up for grabs. The chain hired Flagler Productions to film its inner workings for corporate events, but fired it two years ago, the Wall Street Journal reports. After Wal-Mart low-balled Flagler on the archive, it’s... More »

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