Posts tagged Bank of America
Why a big bank and a big tech company are raising wages
September 18, 2025 // Everyone who works at Bank of America will soon make at least $25 an hour, the company announced Wednesday. Amazon is also raising pay for people who work in its fulfillment centers and in transportation to more than $23 an hour, on average, and paying for more of their health care costs. That adds up to around $50,000 a year for full-time employees.
Why the Term ‘ESG’ Is Disappearing — But the Practices Remain
June 22, 2025 // In 2023, Vincent Vernuccio claimed “You will be hearing less and less about ESG. They are still going to be doing it. But they are just not calling it ESG.” I was surprised to hear that back then. Nearly two years later, it is time to examine how this prediction has unfolded. What has changed in corporate communication, investment trends, and regulatory landscapes? And how do developments in the United States compare to those in Europe, where ESG is subject to increasing scrutiny and reform?
Sanders and Hawley’s Interest Rate Cap Would Ban Their Union Allies’ Credit Cards
February 10, 2025 // They should have checked with their union boss pals before taking such a position. Many major labor unions have deals with banks to offer branded credit cards as a member benefit. Some of them can charge interest rates in excess of the 25 percent rate Sanders finds extortionate, and nearly all of them charge higher than 10 percent. One of the most common credit card partnerships for unions is with Capital One, which offers a Union Plus Mastercard. It is marketed as “Built for Union Members. Backed by Union Members,” and accounts are limited to active or retired union members or their families.
Opinion: Biden’s Labor Nominee ‘Embodies the Spirit of California,’ and That’s the Problem
January 18, 2024 // If approved, Su won’t be the only half-baked Californian in the Biden White House. Vice President Kamala Harris is (per National Review’s Charlie Cooke) “talented enough to make the inanities uttered by her rival Pete Buttigieg sound substantive, concise, and apprehensible.” Economist David Bahnsen calls California’s Janet Yellen “a career bureaucrat, albeit a hyper-intelligent one, who has spent an adult life devoid of accountability for poor decisions and even poorer ideas.” California’s Xavier Becerra knew nothing about health or human services until Biden made him head of Health and Human Services; during Covid, he did nothing, which, given his résumé, might have been for the best. Becerra’s fathomless ignorance is almost a prerequisite for this administration, where experience might mean owning your failures. The first White House gig of Californian Alejandro Mayorkas, now secretary of homeland security, as Obama’s director of U.S. Citizenship and Immigration Services involved running interference for a scandal-plagued electric-car company run by Secretary of State Hillary Clinton’s brother Tony Rodham and Terry McAuliffe, cochairman of President Bill Clinton’s 1996 reelection campaign, chairman of the Democratic National Committee from 2001 to 2005, and chairman of Hillary Clinton’s 2008 presidential campaign. I needn’t go on — or should I mention that Biden’s deputy secretary of education is a former San Diego teachers’-union official whose concern for union power exceeds any attachment to student performance? While she was Governor Gavin Newsom’s secretary of labor, Su oversaw the implementation of bad policy and the mismanagement of simple procedures. Any one of her major catastrophes would have been career-enders elsewhere; in California, where the failure of progressive policy is invariably a prompt for more progressive policy, she was instead excused — and then promoted into the Biden
Workers United Has an Alter Ego
April 4, 2023 // Workers United is the largest shareholder of “union controlled” Amalgamated Bank, and is frequently described as its majority owner given its unique control of the bank. Amalgamated reports investments to the US Securities and Exchange Commission that go against both the union and the bank’s self-proclaimed values. Both Workers United and the bank have put forth an image of progressive values and social responsibility. This image has helped Workers United popularize some of its major organizing campaigns, including efforts to organize baristas throughout the country.
Opinion: Apprenticeships, Not College, Can Help Reduce Unemployment
June 25, 2022 // We estimate that the entirety of our current employment gap is driven by people without children under 18 at home and most predominantly by young adults. While total employment is down 0.28% since the start of the pandemic, employment among 20- to 24-year-olds is down 3.7%. Claudia Goldin, Mazda Toyota Manufacturing, employment gap, Huntsville, Alabama, National Student Clearinghouse Research Center, Pathways, Industry-Recognized Apprenticeship Programs, IRAP model,
Op-Ed: Why unions are striking — and winning more public support than in 50 years
November 4, 2021 // Workplace experts generally point to two reasons for this surge. First, after working so hard and often risking their lives during the pandemic, many workers believe that they deserve better pay and treatment. Second, American workers — especially long-underappreciated essential and low-wage workers — are suddenly feeling empowered because of today’s labor shortage.