Blizzard/Activision celebrates record revenues by laying off 800 employees

Blizzard/Activision posted $7.5b in net revenues for 2018, and announced that it would lay off 800 of the employees who made those revenues possible, but fear not! The last time the company did a mass layoff (600 people in 2012), it generously rehired those people as temps, doing the same jobs for less pay, with no security or benefits. Read the rest

Shutdowns don’t get bad linearly; they get bad exponentially

Federal employees missed their first paycheck last week; from here on in, every milestone dramatically exacerbates the pain of the shutdown: a halt to aviation as TSA screeners quit en masse, civil cases stall in federal courts, 38 million hungry Americans denied food stamps and 10% of food sales in the US vanishing; deals expiring with the landlords of 40,000 low income households; then 2.2 million more households are imperiled; landlords renting to federal agencies will go without rent but won't be able to evict federal tenants, triggering mortgage and debt defaults; prison guards go from today's skeleton crew to near-total absenteeism; city buses stop running as Federal Transport Agency payments dry up; drugs fall out of the FDA pipeline, denying medication to ill and dying people; and of course, every IPO is stalled (and maybe DOA) for so long as the shutdown continues. Read the rest

Austin bombings: literal American carnage meets with Trumpian indifference

Remember when Donald Trump campaigned on a promise to make Americans safe, and promised an end to "American carnage" at his inauguration? Yeah, neither does he. Read the rest

Trumpcare added $33B to government healthcare spending, in order to cover 8.9m fewer Americans, who will pay more for less

Trump is an excellent businessman and the Republicans are really good with money: if you doubt it, just take a gander at the Urban Institute's report on the costs and effects of Trumpcare: the US government will spend $33 billion more as a result of GOP policies, and cover 8.9 million fewer Americans, and those Americans will pay higher premiums (18%, on average!) to get worse care. Read the rest

Kimberly Clark says the Trump tax-cuts let it fire 5,500 US workers and pay out dividends to its shareholders

Kimberly Clark, makers of Kleenex and Huggies, says it will lay off 10-12% of its US workforce and divert the savings to shareholder dividends and capital investment (presumably robots to replace the workers, or infrastructure to import finished goods from lower-cost offshore labor markets), and it says that action was triggered by Trump's tax-cuts, which freed up the cash needed to effect the changes. Read the rest