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The criminal investigation into alleged tax fraud in trading of carbon emissions certificates, the raid at Deutsche Bank's Frankfurt headquarters in Dec. 2012, and arrest of some senior executives, continues problems with the bank's image in Germany since the 2008 financial crisis. Deutsche Bank's was highly leveraged during the 2008 financial crisis and is perceived as contributing to the crisis. Changing the culture at the bank is likely to take more than the introduction of the new co-CEO arrangement in mid 2012 with Anshu Jain and Jurgen Fitschen, say experts. Germany's judiciary was critical of Fitschen for not respecting the independence of the judiciary and understanding the separation of powers for a call he made protesting the raid in the investigation.
Linked Articles
Image Remake Suffers Hit at Deutsche Bank
Wall Street Journal 12/20/2012
Deutsche Bank Lists Litany of Legal RisksWall Street Journal 03/21/2012
Linked Articles
Labor audits find poor working conditions at Apple factories - The Washington Post
Washington Post 03/30/2012
Dividends Emerge in Pressing Apple Over Working Conditions in ChinaNew York Times 03/06/2012
Linked Articles
Teacher Evaluations Pose Test for States
Wall Street Journal 03/08/2012
For Teachers, Shame Is No SolutionNew York Times 02/22/2012
The significant changes underway in labor laws that should increase productivity and competitiveness of Spain and Italy. The need for the culture change that goes with this.
Linked Articles
Italy Official Seeks Culture Shift in New Law
Wall Street Journal 06/27/2012
Spain Approves Changes to Labor PolicyNew York Times 02/10/2012
Linked Articles
Spain Plans to Burn Its Bridges to Keep Vacationers on the Job
Wall Street Journal 02/08/2012
Italy Official Seeks Culture Shift in New LawWall Street Journal 06/27/2012
The culture at Goldman Sachs and on Wall Street and the growing feeling that a shift to growth in other fields is a healthy development for New York and the U.S.
Linked Articles
Public Rebuke of Culture at Goldman Sachs
New York Times 03/14/2012
Wall Street Meets RealityNew York Times 12/27/2011
Including the long term unemployed who quit working after months of furitless searching gives a better sense of the real level of unemployment in the U.S. Reconciling the Establishment Survey with the Household Survey using the third measure developed by the Labor Department which adjusts for multiple jobs held by one person and self employed farm workers, and adjusting for weather conditions, also helps give a better picture.
Linked Articles
Number of the Week: Did U.S. Actually Shed 195,000 Jobs in July?
Wall Street Journal 08/04/2012
Wonkbook: The real unemployment rate is 11 percent - The Washington PostWashington Post 12/12/2011
Shift in choices by graduates during U.S. campus recrutiing by companies.
Linked Articles
Wall Street' Latest Campus Recruiting Crisis
New York Times 03/15/2012
A Blow to Pinstripe AspirationsNew York Times 11/22/2011
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Volcker Rule Might Just Be Kabuki TheaterWall Street Journal 10/12/2011
Linked Articles
Washington Post 12/25/2015
Tallying the Toll of U.S.-China TradeWall Street Journal 09/27/2011
Katz suggest a number of steps including a subsidy for companies creating new jobs. A form of this subsidy is used in Germany with the "kurzarbeit" program which preserves jobs in a downturn. Katz reminds us that there are three job crises facing America- long term unemployed not reflected in government unemployment figures, effects of foreclosures and debt, and the impact of automation with lower job creation in manufacturing. A sustained andmultipronged approach over a number of years is needed and no single panacea or misguided optimism will work.
Linked Articles
The Next First (and Only) 100 Days
New York Times 12/10/2011
Help Displaced WorkersNew York Times 09/06/2011
How Foxconn is adapting to the changes by increasing wages in Shenzen, increasing automation, and shifting plants to lower wage regions in the interior of China, and to Brazil.
Linked Articles
Foxconn to Raise Salaries for Workers by Up to 25%
New York Times 02/18/2012
Foxconn: How to Beat the High Cost of Happy WorkersBusinessWeek 05/05/2011
Nathan Sharansky makes the case for democracy. Rice talks about the long arc of history and trusting America's best idea and the principles of 1776, as a guide that will serve us well. Sharansky is a former human rights activist from the former Soviet Union, who worked with Soviet physicist Andrei Sakharov for human rights and democracy before the fall of the Berlin Wall.
Linked Articles
Condoleezza Rice - The future of a democratic Egypt
Washington Post 02/16/2011
Democracy's Tribune on the Arab AwakeningWall Street Journal 02/05/2011
The need for stimulus to keep jobs for migrant workers and maintain social stability does not exist in 2012 the way it appeared in 2008, when about 20% of migrant workers lost their jobs and wages for migrant workers fell by 10%, according to estimates by the Chinese Academy of Sciences and Stanford University. In 2012 there is excess demand for labor and reports show the efforts to reduce the 60 hour work week in some factories is running into problems with a shortage of labor. This means less need for stimulus that would aggravate problems in the housing bubble and inflation.
Linked Articles
China's Workers in No Need of Stimulation
Wall Street Journal 06/04/2012
China's Wage Hikes Ripple Across AsiaWall Street Journal 03/14/2012
Draghi tells WSJ interviewers what economist Dornbusch once told him- the Europeans were so rich they did not have to work anymore. Draghi and Fornero emphasize the large culture change needed in Italy. Fornero says too often labor, business, and govenment tweaked the rules to benefit one special group, and Italy lost its sense of being a rule bound society.
Linked Articles
Italy Official Seeks Culture Shift in New Law
Wall Street Journal 06/27/2012
Europe's Banker Talks ToughWall Street Journal 02/24/2012
Surprisingly the Syriza government in 6 months in office did not come up with a plan to implement for tax evasion. This was a major issue for the IMF and in Greece's interest, even though it was going contrary to long standing practice in Greece as it was in Italy. Estimates of lost revenue are about $11 billion each year for tax evasion. By comparison the IMF payment due was less than $2 billion on June 30, 2015. Sustainable long term finances make this a major issue in Greece's own interest. Greece has an aging population and the number of retirees are growing in relation to young working people making this an important issue for stable finances under any administration, and regardless of the euro.
Linked Articles
How Greek tax evasion sunk the global economy
Washington Post 07/10/2012
A Hollow Target for Greek DebtWall Street Journal 02/18/2012
Rice points out that diversification of the economy away from oil utilizing Russian technological capabilities will help Russia move away from the corruption of a resource based economy and build a healthy democratic setup. Putin says he recognizes the need for democratic processes to keep pace with the development of civil society and the growing middle class, but emphasizes that democracy cannot be built overnight, and places a higher priority on what he calls the "sovereignty of the people," the right to work, the right to education and free medical care.
Linked Articles
How Russia’s urban middle class can bring an end to Putinism - The Washington Post
Washington Post 03/09/2012
Vladimir Putin: My vision for a better Russia - The Washington PostWashington Post 02/09/2012
Linked Articles
Washington Post 06/25/2012
Why French Parents Are SuperiorWall Street Journal 02/04/2012
Linked Articles
Italy Leader, Monti, Tells Germany Austerity Isn't Enough
New York Times 01/11/2012
Leaders Grow Further Apart on SolutionsWall Street Journal 12/15/2011
One estimate of tax evasion in Italy cited by Faiola in the Post is $340 billon a year. Greece has a similiar problem. This is one area in which the culture and practices of individual countries have to converge to acceptable norms to make a common currrency viable, something the founders of the euro currency did not take as seriously as needed and account for in a disciplined framework. The political enthusiasm for a union of European countries of EU founders led to ignoring the dangers of not having controls and convergence in place.
Linked Articles
New York Times 12/01/2011
Amid crisis, Italy confronts a culture of tax evasion - The Washington PostWashington Post 11/25/2011
Efforts of Super Committee members Hensarling, Toomey and the chairman of the House Ways and Means Committee Dave Camp to negotiate a bipartisan solution. This follows the failed efforts of Republicans Boehner, Cantor and McConnell in 2011 to reach a negotiated deal with the Democrats in Congress. Camp is taking a patient approach and has shown the ability to navigate different personalities in the U.S. Congress as he works on a solution to the deficit.
Linked Articles
Rep. Dave Camp patiently pursues tax reform - The Washington Post
Washington Post 07/29/2012
GOP supercommittee members’ tax plan gives party an identity crisis - The Washington PostWashington Post 11/17/2011
A Better Way. The question of who was more humane in their response is one for the public in a nation of immigrants. Bush and Reagan stood up for the state paying for illegal immigrant children getting schooling in the straightforward honest way to a difficult question in the primary debates years ago. There is no empty rhetoric when Bush says he does not want 6-8 year old children to live in fear and deprived of an education thinking they were living outside the law. And Reagan points out that rather than talk of putting up a fence lets work out our mutual problems with Mexico. The elder Bush goes further and stands up for immigrants in a way that the country has not seen for a long, long time. "They are good, strong people," he says, and "part of my family is Mexican."
Linked Articles
Wall Street Journal 09/29/2011
More Deportations Follow Minor Crimes, Records ShowNew York Times 04/06/2014
Linked Articles
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
Volcker Rule May Lose Its BiteWall Street Journal 09/22/2011
Interdisciplinary learning and intercultural capabilities will be needed to prepare managers to take on responsibilities in the business world for the next decade.
Linked Articles
Columbia's Business Dean on Disclosure, Leading, Ethics
Wall Street Journal 07/07/2011
IE's Entrepreneurial Focus Shields It From a ShakeoutWall Street Journal 12/01/2011
Linked Articles
Brown Proposes $8.3 Billion in Cuts for California
New York Times 05/14/2012
Jerry Brown's Last Stand in CaliforniaNew York Times 05/04/2011
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