The RIAA has submitted its latest Form 990 tax filing to the IRS, which details the organization's precipitous shelving off in budget and employees (though the execs gave themselves fat raises):
The drop in income can be solely attributed to lower membership dues from the major music labels. Over the past two years label contributions have dropped to $23.6 million, and over a three-year period the labels cut back a total of $30 million, which is more than the RIAA’s total income today.
The cutbacks are not immediately apparent from the salaries paid to the top executives. RIAA Chairman and CEO Cary Sherman, for example, earned $1.46 million compared to $1.37 million the year before. Senior Executive Vice President Mitch Glazier also saw a modest rise in income from $618,946 to $642,591.
...The reduction in legal costs is even more significant, going from to $6.4 million to $1.2 million in two years. In part, this reduction was accomplished by no longer targeting individual file-sharers in copyright infringement lawsuits, which is a losing exercise for the group.
Looking through other income we see that the RIAA received $196,378 in “anti-piracy restitution,” coming from the damages awarded in lawsuits against Limewire and such.
RIAA Makes Drastic Employee Cuts as Revenue Plummets [Ernesto/TorrentFreak]
Seven years after the first World Nutella Day in 2007, I never thought the idea of dedicating a day to come together for the love of a certain hazelnut spread would be embraced by so many people! I’ve seen the event grow from a few hundred food bloggers posting recipes to thousands of people Tweeting about it, pinning recipes on Pinterest, and posting their own contributions on Facebook! There have been songs sung about it, short films created for it, poems written for it, recipes tested for it, and photos taken for it.
Two minor characters from my novel 
The America Invents Act changed U.S. patent law to allow preissuance submissions, a mechanism by which third parties can submit patents or printed publications to the United States Patent & Trademark Office (USPTO) for consideration during patent examination, along with “a concise description of the asserted relevance of each submitted document.”[2] The U.S. Congress intended preissuance submissions to help the USPTO increase the efficiency of examination and the quality of issued patents.[3] Congress did not, however, intend the use of this mechanism to interfere with patent examination.[4] Nor did it intend preissuance submissions to allow for third party protest or preissuance opposition.[5] Yet a segment of the 3D printing (3DP) community, known as Makers, is using preissuance submissions as a sword to oppose 3DP-related patent applications. Perhaps more importantly, they are leveraging the concept of crowdsourcing to do so, potentially creating problems for patent applicants everywhere.[6]
This confirms a pattern that Matt Stoller highlighted: that income inequality increased more under Obama than under Bush. And the new Saez paper also describes how it came about. In short form, income to the top 1% is significantly influenced by capital gains. Remember, the tax reporting is not clean here: rising equity and bond markets help all those private equity and hedge fund professionals, who are able to get capital gains treatment for what ought to be labor income. But the paper also stresses that the lower orders were hit hard in the aftermath of the global financial crisis than in the dot-bomb era, which also saw a big drop in capital gains. That isn’t as hard to understand. The collapse of the dot-com mania didn’t impair the real economy overmuch because it was not fueled in a meaningful way by borrowings. By contrast, the housing bubble, and more important (in terms of damage to the financial system) the much housing exposure created synthetically by CDOs that consisted entirely or mainly of credit default swaps was highly geared, hence when it collapsed, it took credit providers down with it.
