Where is the Money Going?

113 to 128 of about 1801 News
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At National Highway Traffic Safety Administration’s Office of Defects Investigation, 51 Employees are Supposed to Review 45,000 Complaints a Year

There’s no way a person can investigate an average of 900 complaints a year, so many fall through the cracks, such as the ongoing GM ignition switch defect responsible for the deaths of at least 124 people. Part of the reason for that has been that the NHTSA has relied on manufacturers to self-report problems with their cars. NHTSA has vowed change the way it does business. The agency still faces a roadblock, however. The Republican-controlled Congress has refused to increase its budget.   read more

Why do Medicines and Medical Devices Cost more in the U.S. than other Countries?

. Here are the prices for a month’s worth of selected drugs in the United States and Canada: Drug (treatment) U.S. Canada Enbrel (autoimmune) $3,000 $1,646 Cymbalta (depression) $240 $110 Nexium (acid reflux) $305 $30 There are similar price discrepancies between the United States and other countries for diagnostic tests such as MRIs and CT scans, as well as for medical procedures such as bypass surgery, knee replacement and others.   read more

Judge Rules “Happy Birthday To You” is in Public Domain, Not Owned by Warner Music

“‘Happy Birthday’ is finally free after 80 years,” said attorney Randall Newman. “Finally, the charade is over. It’s unbelievable.” Royalties from the song were often collected from stage productions, TV shows, movies and greeting cards. “But even those who wanted to sing the song publicly as part of a business...technically had to pay to use the song," wrote the L.A. Times. Warner/Chappell has collected as much as $2 million a year from royalties it charged for use of the song.   read more

Hedge Fund Ethics Hit Drug Industry as “Rare Disease” Loophole Causes Cost of Medicine to Suddenly Skyrocket

After acquiring Daraprim, Shkreli jacked up the drug’s price overnight from a per-tablet price of $13.50 to $750. The move could result in some patients paying hundreds of thousands of dollars a year for the drug. Turing’s 5,000% price increase could potentially bring the company tens or hundreds of millions of dollars per year in sales. Some hospitals may now have difficulty keeping the drug in stock due to its cost, resulting in treatment delays for patients.   read more

Median Income of Average U.S. Households Smaller than 15 Years Ago

In 1999, the median income of U.S. households was $57,843 in 2015 dollars. In 2014, that family was making only $53,657, down 7.2% from 1999. Americans still haven’t recovered the income they had before the recession that began at the end of the George W. Bush administration; the median income in 2007 was $57,357. But as usual, life’s good if you’re among the wealthy. The richest 5% increased from $196,000 to $206,600.   read more

Nine Census Bureau Employees Each Charged for 100 Days of Work they didn’t Do

--Nine CHEC employees submitted records for at least 100 days’ worth of work they didn’t do. --One employee was paid for 160 days of work he didn’t perform. --One employee spent much of his time trying to get friends and relatives on the office’s payroll. --Another employee was found to be having a sexual interaction with an applicant for whom the employee was involved in the background check.   read more

Democrats Seek FEC Approval to Use Controversial “Super-PAC” Tactics Employed by Republicans

The FEC has made very few determinations on what’s legal and what’s not as far as super PACs go because of the even Democratic-Republican makeup of the commission. Seeking clarification could be a win-win for Democrats; if they get the OK, they have a new fund-raising tool. If they don’t, GOP candidates that have used the techniques could find themselves in legal trouble. How the FEC responds “could have profound ramifications for the 2016 campaign, particularly for Democrats...” said the Times.   read more

Half of Navy Contracts Violate Buy American Rules

The Buy American Act mandates the federal government give preference to products made in the U.S. when it makes bulk purchases of more than $3,000. Similarly, the Berry Amendment says the Pentagon can’t buy products such as clothing and textiles outside of the U.S. when the purchases are at least $150,000. The IG, however, found that nearly half of the Navy contracts it reviewed violated the Berry Amendment, and a third of another sampling of contracts violated the Buy American Act.   read more

Productivity has Grown Six Times as much as Pay over the Last 40 Years

The Economic Policy Institute (EPI) says net productivity grew 72.2% between 1973 and 2014. During that same period, hourly compensation of the vast majority of American workers increased only 8.7%, or 0.20% annually. When wages did go up, it mostly happened from 1995 to 2002. EPI also said only 15% of productivity growth between 1973 and 2014 translated into higher hourly wages and benefits for the typical American worker.   read more

Washington State Supreme Court Rules Public Funding of Private Schools Unconstitutional

A 2012 initiative, backed by Bill Gates, Walmart heiress Alice Walton and a few other wealthy individuals, allowed for the formation of charter schools to be funded as though they were public schools. But the 6-3 court ruling (pdf), released late Friday, noted that they’re not considered “common schools,” since their ruling boards are appointed, not elected. Therefore, “money that is dedicated to common schools is unconstitutionally diverted to charter schools.”.   read more

Energy Department Questions Bechtel’s Ability to Clean up Nuclear Waste Site by 2070

The cleanup of the Hanford nuclear facility, which has been in progress for more than 25 years already, is unlikely to be completed any time soon, according to a leaked evaluation. The bottom line is that according to its 2016 budget, the Department of Energy (DOE) has a 50% to 80% confidence level that the mess will be cleaned up—by 2070.   read more

CEO Pay System at Top U.S. Energy Firms Rewards Execs for Deepening Climate Crisis

Stock value of the top 10 U.S. publicly held coal companies fell by 58% between 2010 and 2014. During this period, cash compensation of executives of these companies went up 8%. The biggest winner was ExxonMobil CEO Rex Tillerson, who made $33 million last year. Given this setup, it is no wonder Big Oil and Big Coal don’t want to change their ways. It also helps to explain why none of the 30 companies studied have programs that reward investment in renewable energy sources.   read more

Taxpayers Pick Up Hefty Tab for KBR’s Defense in Iraqi Toxic Exposure Lawsuits

KBR made millions of dollars off the Iraq war by providing a variety of support services to the U.S. military. Its methods of operation also resulted in servicemen and women being exposed to pollutants and toxins. Some of those exposed have since sued KBR and to add insult to injury, U.S. taxpayers will have to cover KBR’s legal expenses, according to the Armed Services Board of Contract Appeals.   read more

Federal Judge Orders Army Corps of Engineers to Pay $3 Billion for Long-Delayed Restoration of Mississippi Channel that Contributed to Katrina Damage

The Army Corps of Engineers must foot the entire bill for restoring Louisiana wetlands destroyed by the improper construction of a canal. The Mississippi River-Gulf Outlet Canal (MR-GO) was completed in 1968 as a shortcut to the New Orleans waterfront from the Gulf of Mexico. But the canal, which had widened to 2,000 feet in some places because of erosion caused by ship traffic, allowed the storm surge from Hurricane Katrina to breach New Orleans’ levees and flood the city.   read more

Human Vultures Descend on Poor Victims of Lead Poisoning

Countless studies have demonstrated lead’s effect on the cognitive and emotional states of those exposed to it. Appropriately, landlords who allowed lead paint to remain in their buildings have been forced to pay their victims thousands of dollars to attempt to compensate them for the brain damage caused by peeling lead paint. These payouts are often in the form of “structured settlements” which provide the victims with monthly payments for the rest of their lives.   read more

Personal Housing Expenses See Biggest Jump in 8 Years

Rent already takes a huge chunk out of Americans’ paychecks, with as many as half of renters paying 30% of their take-home pay for a place to live. High rents affect poorer Americans the most. Not only do they pay more for rent now, but they’re unable to save money to buy a home of their own. Part of the reason for increased rents is a shortage of available units. Last year’s vacancy rate of 7.6% was the lowest such figure in 20 years.   read more
113 to 128 of about 1801 News
Prev 1 ... 6 7 8 9 10 ... 113 Next

Where is the Money Going?

113 to 128 of about 1801 News
Prev 1 ... 6 7 8 9 10 ... 113 Next

At National Highway Traffic Safety Administration’s Office of Defects Investigation, 51 Employees are Supposed to Review 45,000 Complaints a Year

There’s no way a person can investigate an average of 900 complaints a year, so many fall through the cracks, such as the ongoing GM ignition switch defect responsible for the deaths of at least 124 people. Part of the reason for that has been that the NHTSA has relied on manufacturers to self-report problems with their cars. NHTSA has vowed change the way it does business. The agency still faces a roadblock, however. The Republican-controlled Congress has refused to increase its budget.   read more

Why do Medicines and Medical Devices Cost more in the U.S. than other Countries?

. Here are the prices for a month’s worth of selected drugs in the United States and Canada: Drug (treatment) U.S. Canada Enbrel (autoimmune) $3,000 $1,646 Cymbalta (depression) $240 $110 Nexium (acid reflux) $305 $30 There are similar price discrepancies between the United States and other countries for diagnostic tests such as MRIs and CT scans, as well as for medical procedures such as bypass surgery, knee replacement and others.   read more

Judge Rules “Happy Birthday To You” is in Public Domain, Not Owned by Warner Music

“‘Happy Birthday’ is finally free after 80 years,” said attorney Randall Newman. “Finally, the charade is over. It’s unbelievable.” Royalties from the song were often collected from stage productions, TV shows, movies and greeting cards. “But even those who wanted to sing the song publicly as part of a business...technically had to pay to use the song," wrote the L.A. Times. Warner/Chappell has collected as much as $2 million a year from royalties it charged for use of the song.   read more

Hedge Fund Ethics Hit Drug Industry as “Rare Disease” Loophole Causes Cost of Medicine to Suddenly Skyrocket

After acquiring Daraprim, Shkreli jacked up the drug’s price overnight from a per-tablet price of $13.50 to $750. The move could result in some patients paying hundreds of thousands of dollars a year for the drug. Turing’s 5,000% price increase could potentially bring the company tens or hundreds of millions of dollars per year in sales. Some hospitals may now have difficulty keeping the drug in stock due to its cost, resulting in treatment delays for patients.   read more

Median Income of Average U.S. Households Smaller than 15 Years Ago

In 1999, the median income of U.S. households was $57,843 in 2015 dollars. In 2014, that family was making only $53,657, down 7.2% from 1999. Americans still haven’t recovered the income they had before the recession that began at the end of the George W. Bush administration; the median income in 2007 was $57,357. But as usual, life’s good if you’re among the wealthy. The richest 5% increased from $196,000 to $206,600.   read more

Nine Census Bureau Employees Each Charged for 100 Days of Work they didn’t Do

--Nine CHEC employees submitted records for at least 100 days’ worth of work they didn’t do. --One employee was paid for 160 days of work he didn’t perform. --One employee spent much of his time trying to get friends and relatives on the office’s payroll. --Another employee was found to be having a sexual interaction with an applicant for whom the employee was involved in the background check.   read more

Democrats Seek FEC Approval to Use Controversial “Super-PAC” Tactics Employed by Republicans

The FEC has made very few determinations on what’s legal and what’s not as far as super PACs go because of the even Democratic-Republican makeup of the commission. Seeking clarification could be a win-win for Democrats; if they get the OK, they have a new fund-raising tool. If they don’t, GOP candidates that have used the techniques could find themselves in legal trouble. How the FEC responds “could have profound ramifications for the 2016 campaign, particularly for Democrats...” said the Times.   read more

Half of Navy Contracts Violate Buy American Rules

The Buy American Act mandates the federal government give preference to products made in the U.S. when it makes bulk purchases of more than $3,000. Similarly, the Berry Amendment says the Pentagon can’t buy products such as clothing and textiles outside of the U.S. when the purchases are at least $150,000. The IG, however, found that nearly half of the Navy contracts it reviewed violated the Berry Amendment, and a third of another sampling of contracts violated the Buy American Act.   read more

Productivity has Grown Six Times as much as Pay over the Last 40 Years

The Economic Policy Institute (EPI) says net productivity grew 72.2% between 1973 and 2014. During that same period, hourly compensation of the vast majority of American workers increased only 8.7%, or 0.20% annually. When wages did go up, it mostly happened from 1995 to 2002. EPI also said only 15% of productivity growth between 1973 and 2014 translated into higher hourly wages and benefits for the typical American worker.   read more

Washington State Supreme Court Rules Public Funding of Private Schools Unconstitutional

A 2012 initiative, backed by Bill Gates, Walmart heiress Alice Walton and a few other wealthy individuals, allowed for the formation of charter schools to be funded as though they were public schools. But the 6-3 court ruling (pdf), released late Friday, noted that they’re not considered “common schools,” since their ruling boards are appointed, not elected. Therefore, “money that is dedicated to common schools is unconstitutionally diverted to charter schools.”.   read more

Energy Department Questions Bechtel’s Ability to Clean up Nuclear Waste Site by 2070

The cleanup of the Hanford nuclear facility, which has been in progress for more than 25 years already, is unlikely to be completed any time soon, according to a leaked evaluation. The bottom line is that according to its 2016 budget, the Department of Energy (DOE) has a 50% to 80% confidence level that the mess will be cleaned up—by 2070.   read more

CEO Pay System at Top U.S. Energy Firms Rewards Execs for Deepening Climate Crisis

Stock value of the top 10 U.S. publicly held coal companies fell by 58% between 2010 and 2014. During this period, cash compensation of executives of these companies went up 8%. The biggest winner was ExxonMobil CEO Rex Tillerson, who made $33 million last year. Given this setup, it is no wonder Big Oil and Big Coal don’t want to change their ways. It also helps to explain why none of the 30 companies studied have programs that reward investment in renewable energy sources.   read more

Taxpayers Pick Up Hefty Tab for KBR’s Defense in Iraqi Toxic Exposure Lawsuits

KBR made millions of dollars off the Iraq war by providing a variety of support services to the U.S. military. Its methods of operation also resulted in servicemen and women being exposed to pollutants and toxins. Some of those exposed have since sued KBR and to add insult to injury, U.S. taxpayers will have to cover KBR’s legal expenses, according to the Armed Services Board of Contract Appeals.   read more

Federal Judge Orders Army Corps of Engineers to Pay $3 Billion for Long-Delayed Restoration of Mississippi Channel that Contributed to Katrina Damage

The Army Corps of Engineers must foot the entire bill for restoring Louisiana wetlands destroyed by the improper construction of a canal. The Mississippi River-Gulf Outlet Canal (MR-GO) was completed in 1968 as a shortcut to the New Orleans waterfront from the Gulf of Mexico. But the canal, which had widened to 2,000 feet in some places because of erosion caused by ship traffic, allowed the storm surge from Hurricane Katrina to breach New Orleans’ levees and flood the city.   read more

Human Vultures Descend on Poor Victims of Lead Poisoning

Countless studies have demonstrated lead’s effect on the cognitive and emotional states of those exposed to it. Appropriately, landlords who allowed lead paint to remain in their buildings have been forced to pay their victims thousands of dollars to attempt to compensate them for the brain damage caused by peeling lead paint. These payouts are often in the form of “structured settlements” which provide the victims with monthly payments for the rest of their lives.   read more

Personal Housing Expenses See Biggest Jump in 8 Years

Rent already takes a huge chunk out of Americans’ paychecks, with as many as half of renters paying 30% of their take-home pay for a place to live. High rents affect poorer Americans the most. Not only do they pay more for rent now, but they’re unable to save money to buy a home of their own. Part of the reason for increased rents is a shortage of available units. Last year’s vacancy rate of 7.6% was the lowest such figure in 20 years.   read more
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