Post-meltdown America: An economic recovery for the wealthy (via Minding the Workplace)

David Yamada, whose blog I am a great admirer of, tell the story correctly. The great mass of Americans suffer while a small minority reap unprecedented profits.

James Pilant

As our economy teeters on the brink of another recession (even as the "old" one never seems to have disappeared), here are three indicators that the wealthiest among us have been the primary beneficiaries of any recovery from the big meltdown: 1. Executive raises make a comeback Matt Krantz and Barbara Hansen of USA Today report that executive raises in 2010 made a comeback after a leaner 2009 (link here): The heads of the nation’s top companies … Read More

via Minding the Workplace

Tepco head quits after $15bn loss (via moneyblogforexblog)

Accountability, how strange. I have doubts that such a poor performance would always cost the job of an American CEO. We have learned to insulate our governing and corporate classes from the petty pain of suffering for their actions.

The president of Tepco, which operates the crippled Fukushima nuclear power plant, resigns as the firm reports a $15bn finance business intelligence … Read More

Here’s a news story about the resignation.

Here’s another take on the issue, discussing whether or not the company can continue.