Tomato potato

Endlesssky Sick Moose

Read


The settlement is in—some of Silicon Valley’s biggest and most influential technology companies late last week agreed to pay $324.5 million to settle a class-action law suit brought by their employees alleging collusion to suppress their wages. After an anti-trust investigation, the U.S. Department of Justice filed a complaint in September of 2010. The companies eventually settled with the department and stopped the practice. The targeted workers and the companies involved agreed to settle last month, with the amount announced last week.

But will there be any repercussions from this long legal tangle between employers and employees in one of the leading industries in the country? A great series of stories on Pando Daily lay bare the alleged efforts of big tech companies (including Apple Inc., Intel Corp., and Google Inc.) for a secret “do not hire” cartel deterring these companies from hiring each other’s workers, which artificially suppressed their workers’ wages. In the mid-2000s there was a high demand for programmers and engineers, which pushed up their wages. To combat higher pay, Apple’s Steve Jobs and Google’s Eric Schmidt allegedly agreed to stop trying to hire each other’s workers, using their size to pressure other firms to join them.

Yet some conservative economists, among them George Mason University economics professor Tyler Cowen on his popular Marginal Revolution blog, argue this kind of cartel is not terribly important because some firms will cheat, causing the system to fall apart, while new workers will figure out that there is a cartel and go work somewhere else for more money. But this particular case of wage collusion lasted from 2005 to 2009 and took the Justice Department to solve this problem, not the market.

You gotta pay your dues before you pay the rent.




Boomers are dying and the millennials are going to benefit from one of the largest wealth transfers in history.

This post was edited by Skinned on Oct 13 2020 05:39am

never had that problem tbh
words = money
if you can string together a few good pages, verbally, and be sexy about it, you can sell anything

i have literally sold wood to a wood distributor
truckloads
train containers etc

The days of a specialized job being enough are OVER. Wonder how this will impact services industries as more and more DIY.

Never understood this conspiracy. My parents are leaving me massive credit card debt.

Funny, i see more and more becoming grey nomads and blowing all their assets on travelling.