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- The Affordable Care Act and Part-Time Work – NYTimes.com
… part-time employment is much where we would expect it to be at this stage of recovery, given the high level and slow decline in the jobless rate.
… if we are more focused upon the fear of inflation than on the pain and suffering of unemployment and underemployment. However, that's not what the article is about. It questions whether part-time jobs are much a consequence of the 50-employee threshold for The Affordable Care Act.
Read the source article … http://economix.blogs.nytimes.com/2013/0 8/22/the-affordable-care-act-and-part-ti me-work/
- China's Corporate Crackdown by Simon Zadek – Project Syndicate
This is good news on China from Simon Zadek ("currently Visiting Scholar at Tsinghua School of Economics and Management, is Senior Fellow of the Global Green Growth Institute and the International Institute for Sustainable Development"), but with qualifications.
Multinational corporations are under siege in China. In recent months, the government has leveled a series of allegations of corporate misconduct – ranging from food-product contamination to price rigging, bribery, and environmental shortfalls – against foreign-owned companies, with important implications for the development of China's business environment.
Does the government's recent behavior reflect a commitment to strengthening business ethics, marking the start of a long-overdue regulatory catch-up process? Or is it intended merely to create a convenient populist distraction from China's current economic woes? Or are these revelations of often long-known corporate misdemeanors part of a complex power play involving competing Chinese interests?
The answer probably is a combination of these factors. But, whatever the motivation, the message is clear: the age of irresponsible business in China is over.
The authorities' new regulatory activism is late in coming, but it will ultimately benefit Chinese consumers and firms. …
… demonstrable environmental compliance, previously less important, is essential. … firms must work diligently to uphold ethical practices in a corruption-riddled system in which state actors are often would-be partners in crime.
A new era of corporate responsibility has begun in China, and not a moment too soon. As with other aspects of China's transformation, it draws pragmatically on internationa l practice, but is defined by its Chinese characteristics. Global business leaders should take note.
- CFPB Examiners Find Mortgage Servicing Business Remains a Sewer – naked capitalism
Not that we needed additional evidence, but the Consumer Financial Protection Bureau has found more fraud and theft inside the nation's mortgage servicing operations. CFPB has examiners in both bank and non-bank servicers; this is the first time non-bank servicers have faced such scrutiny. And their new report on Supervisory Highlights for the summer shows that extremely little has changed, despite a gauntlet of settlements…
On the brighter side, exposure is an early step in developing proper risk management. Taking the next steps is critical though. Just ignoring the problem won't make it go away.
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