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Category Archives: Economy

The biggest companies by the year you were born

“To succeed in the U.S. economy, companies must constantly adapt to changing conditions. Though some of the nation’s largest corporations — companies such as General Electric, Exxon Mobil, and Walmart — have always dominated, for many American consumers the landscape of companies has shifted over the course of their lifetimes. Though industrial companies used to be among the largest in terms of revenue, in the more modern era internet and tech giants like Google, Apple, and Amazon, are decisively making their way toward the top of the list. 24/7 Wall St. reviewed annual revenue figures for the nation’s largest 500 companies in each year from 1955 to 2016 — figures came from business magazine Fortune. General Motors was the nation’s largest company throughout the 1950s, ‘60s, and part of the ‘70s. Exxon Mobil edged out the automaker in 1975, but GM returned to the No. 1 position periodically in subsequent years. Since 2001, either Walmart or Exxon Mobil has occupied the top spot. With revenue of $496 billion in its most recent fiscal year, the global retailing giant is the world’s largest company by revenue. Because these are the country’s largest companies, any meaningful deterioration in size — rather than simply in response to cyclical economic and sectoral forces — usually takes years, if not decades to manifest. Gradual changes in size over the longer term among Fortune 500 companies reflect larger trends in the U.S. economy. For example, the decline of automobile company GM and the rise of retailer Walmart over the past 50 years reflect the decline of American manufacturing and the rise of the service sector over that time…”

Divided Cities Understanding Intra-urban Inequalities

OECD – Divided Cities Understanding Intra-urban Inequalities: “This report provides an assessment of spatial inequalities and segregation in cities and metropolitan areas from multiple perspectives. The chapters in the report focus on a subset of OECD countries and non-member economies, and provide new insights on cross-cutting issues for city neighbourhooods, such as the patterns of… Continue Reading

New on LLRX – 2018 New Economy Resources and Tools

Via LLRX.com – 2018 New Economy Resources and Tools – This guide by Marcus Zillman provides researchers in multiple disciplines – law, economists, academia, government, corporate, and journalism – the latest, most reliable web resources for discovering sources to meet the multifaceted needs of time sensitive, specific, actionable work product. The global economic landscape is… Continue Reading

FDA list of drugmakers the agency says are using “gaming” tactics to keep generic competition off the market

Business Insider: “The FDA just published a list of drug makers the agency says are using “gaming” tactics to keep generic competition off the market. The list of 52 drugs are made by some of the biggest pharmaceutical companies including Novartis, Pfizer, Mylan, and Valeant “FDA is committed – among other things – to addressing… Continue Reading

Robocalls: The global web of scammers who are driving you nuts

Quartz: “It won’t surprise you to hear that robocalls—those insanely annoying pre-recorded messages that are blowing up our phones—have become an epidemic. In the United States, more than 8.5 billion robocalls are made each month, but it’s a global problem in more ways than one. How did we get here? It’s a tangled tale of… Continue Reading

Study – Almost half of US families can’t afford basics like rent and food

CNN Money – The economy may be chugging along, but many Americans are still struggling to afford a basic middle class life. “Nearly 51 million households don’t earn enough to afford a monthly budget that includes housing, food, child care, health care, transportation and a cell phone, according to a study released Thursday by the… Continue Reading

Financial Regulation: The Economic Growth, Regulatory Relief, and Consumer Protection Act

CRS report – Financial Regulation: The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), May 14, 2018 “The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) was passed by the Senate on March 14, 2018. The bill generally aims to provide regulatory relief to banks, relax mortgage lending rules, relax capital… Continue Reading

Cohen files leaked by Treasury law enforcement official turned Whistleblower

New Yorker – Ronan Farrow – “Missing Files Motivated the Leak of Michael Cohen’s Financial Records – A law-enforcement official released the documents after finding that additional suspicious transactions did not appear in a government database.” “Last week, several news outlets obtained financial records showing that Michael Cohen, President Trump’s personal attorney, had used a shell… Continue Reading

TIME magazine cover story – How Baby Boomers Broke America

Steven Brill – How My Generation Broke America [Brill is the author of Tailspin, from which this article is adapted, out this month from Alfred A. Knopf.] This appears in the May 28, 2018 issue of TIME: “Lately, most Americans, regardless of their political leanings, have been asking themselves some version of the same question:… Continue Reading

Facebook loses fight with IRS over 7B tax bill from overseas income

The Register: “Facebook has lost its bid to throw out a tax bill on $7bn worth of income it had stashed overseas. A Northern District of California judge ruled in favor of the IRS this week, finding the Social Network did not have standing to challenge the tax bod’s finding that Facebook underreported its revenues… Continue Reading

Senate Intel Cmte acknowledges Russia interfered in 2016 presidential election in favor of Trump

Washington Post: “The Senate Intelligence Committee has determined the U.S. intelligence community was correct in assessing Russia interfered in the 2016 presidential election with the aim of helping then-candidate Donald Trump, contradicting findings House Republicans reached last month. “We see no reason to dispute the [intelligence community’s] conclusions,” the committee’s chairman, Sen. Richard Burr (R-N.C.),… Continue Reading

Ireland’s Open Data Portal

Ireland launches the third version of their national data portal DATA.GOV.IE – Promoting innovation and transparency through the publication of Irish Public Sector data in open, free and reusable formats. “A new and improved version of the national Open Data portal, data.gov.ie was recently launched. It is the third iteration of the portal now using… Continue Reading