April 10, 2013
Re "To create jobs, U.S. must spend," Opinion, April 5 Dimitri B. Papadimitriou assumes that government spending creates growth. It may create growth in the drone-building industry or in public pensions, but we have to question whether that's good for the economy. Papadimitriou compares adding to our deficit to the hopeful action of a private borrower getting a home mortgage. There are important differences. A home buyer can refinance only a few times, while the government can add debt endlessly.
December 29, 2012
Re “ Corporate tax rate may be lowered ,” Business, Dec. 25 Republicans have agreed that loopholes should be closed for corporations. The most egregious loophole may be the one that in effect gives interest-free loans to U.S. corporations to invest overseas. I am referring to the loophole whereby they are excused from paying taxes until the money earned is “repatriated.” If the president is willing to lower the rate to competitive levels, he should insist on changes to this tax break.
June 14, 2012
Re "School posts may be tough to fill," June 11 Regarding the search to replace three chancellors of public colleges and universities, The Times quotes Scott Himelstein, president of the community colleges Board of Governors, as saying, "I think the governor and Legislature are very clear in not wanting to consider any raises in executive compensation. " It's a great sentiment but I have zero confidence that it will happen. There will be extensive national searches, and when the final candidates are selected, the public statements will say that the salaries offered were justified and necessary to attract the best person for each of these exceedingly difficult and complex positions.
May 4, 2012
Re "Japanese firm wins Metro job," May 1 With our economy so fragile, how dare L.A. County transportation planners award a contract to build rail cars to a Japanese company? We need to have the good people of California working. This was a great opportunity to employ people in our state. Those at the L.A. County Metropolitan Transportation Authority who made this decision need to be replaced. As a longtime resident and taxpayer, I'm sickened by their low regard for our workforce.
January 5, 2014
Re "Where the jobs are," Opinion, Jan. 2 Jeff Danziger's piece is a veiled call for protectionism. He notes that in the last 20 years, the countries around the world that have ditched communism are now producing goods to sell to Americans. He says shipping and communication have become more efficient. He criticizes the government for not protecting American consumers from these foreign products. Danziger presents two straw-man arguments against the protectionism he advocates.
April 5, 2013 |
NEW YORK -- Stocks slumped about 1% in early trading Friday after the Labor Department reported that the economy added a paltry 88,000 jobs last month. The Dow Jones industrial average shed 148.68 points, or 1.02%, to 14,457.43 soon after the opening bell. The broader Standard & Poor's 500 index lost 17.47 points, or 1.12%, to 1,542.51. The tech-focused Nasdaq was off 45.67 points, or 1.42%, to 3,179.31. "This was clearly a disappointment," said Quincy Krosby, a market strategist with Prudential Financial.