Dan Alpert, managing partner at Westwood Capital, says one of the big factors driving income inequality is the fact shareholders have virtually no power over corporate managers. This allows company executives to extract “economic rents” in the form of pay well in excess of their true contributions to the company’s bottom line, widening the gap between themselves and their workers. Alpert, author of “The Age of Oversupply: Overcoming the Greatest Challenge to the Global Economy,” speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage”.
Unable to pay their rent and turned down for public housing, Yafit Krisi and her husband gathered their four children and moved into a tent outside the city hall in Ashkelon, on Israel’s Mediterranean coast.
Writing off groceries as a corporate expense, a common practice among Chile’s wealthy, will get harder as the government moves to clamp down on tax avoidance to raise revenue needed to pay for social programs.
Jasmin Eicher has already axed her sole full-time employee to keep afloat her shop selling cards, candles and paper in a Zurich suburb. If Switzerland approves what would be the world’s highest minimum wage, she says the only option would be to close her door.
Virginia Valencia earns $12 an hour working the morning shift at Tesla Motors Inc. headquarters in Palo Alto, California, where she serves food and drinks to the staff and billionaire co-founder Elon Musk.