Major U.S. retail chains like Target and K-Mart are being criticized by some consumer groups for opening on Thanksgiving Day. Columnist Gael O’Brien finds she agrees with the critics. In the rush for short-term profits, she says, companies are “losing capital” with their employees and damaging their reputations as responsible corporate citizens.Full Story»
As the Federal Reserve Bank of New York moved to beef up its oversight of Wall Street two years ago, the team charged with supervising the nation’s largest bank, JPMorgan Chase, was in turmoil. Fed examiners embedded at JPMorgan complained about being blocked from doing their jobs. In frustration, some requested transfers.
California Gov. Jerry Brown signed into law a bill holding the state’s employers legally responsible for wage and safety violations committed by their subcontractors and temp agencies. With the new law, California will have some of the country’s farthest-reaching protections for temporary workers, among the fastest growing and most vulnerable segments of the workforce.
A special examiner hired – and fired – by the Federal Reserve Bank of New York recorded about 46 hours of meetings and conversations with her colleagues. Many of these events document key moments leading to her firing. But they also offer an intimate study of the New York Fed’s culture at a pivotal moment in its effort to become a more forceful financial supervisor.
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