In August, the volume of personally owned stock sold by corporate executives reached its highest level since 2015, followed by a 10% decline in the S&P500 in September.
Partial lockdowns begin in earnest in Europe and Israel
The global demand for American stocks
Our main discussion: Did corporate insiders perfectly time the market top?
August saw the largest volume of insider selling since 2015, with more than 1000 corporate officers offloading $6.7B in stock. Subsequently, the market has seen a 10% decline since the S&P500 all time high of Sept. 2. What’s more, according to new statistics, insider selling is happening at the fastest pace since 2012.
The question is: What do these executives know that the rest of the market doesn’t?
Once again it is time to investigate the stories which are interesting, but not big enough to justify their own show. It is time for another potpourri episode.
This time the common theme is cold, ice, and frozen temperatures. These stories may seem unbelievable but are true. As true as the Stark Family motto that Winter is Coming.
With that, join me in this second potpourri edition of Everything Everywhere Daily.
Does Donald Trump have a plan when he does absurd things like refuse to entertain the prospect of a peaceful transition of power if he was to lose the election? Of course, he doesn’t. But that doesn’t make it any less contemptuous. Also, the indictment of a Kentucky police officer in connection with the death of Breonna Taylor, cosmic injustice, and our culture’s inability to handle moral ambiguity.
As recent allegations of forced hysterectomies surface in the US, Ben alleges genocide. An anonymous caller asks Matt for more information about Eternal Blue. All this and more in this week's listener mail.
Officers shot during Breonna Taylor protests in Louisville. President Trump refuses to commit to a peaceful transfer if he loses the election. Fireworks over new CDC guidance. CBS News Correspondent Peter King has today's World News Roundup.
Baratunde wonders what today’s labor movement looks like and how workers are responding to the unprecedented consolidation of corporate power across all industries from tech to agriculture to retail. He learns how our economy and our democracy are impacted by these extremes. Saru Jayaraman speaks to the Davida and Goliath power dynamics in the restaurant industry, the origins of the $2.13 per hour minimum wage for tipped workers, and the progress of One Fair Wage. Michelle Miller of CoWorker.org reimagines how we can be agents of our economy instead of objects in the economy.
Show Notes + Links
We are grateful to Saru Jayaraman and Michelle Miller for joining us for this episode.
You can find this episode, a transcript, show notes and the full set of actions at https://www.baratunde.com/how-to-citizen-episodes/06-making-work-work
Please show your support for the show in the form of a review and rating. It makes a huge difference with the algorithmic overlords!
HERE IS WHAT YOU CAN DO NOW. ACTIONS FOR THIS EPISODE.
INTERNAL ACTION:
Reflect on your role as a worker in the context of the larger economy and ask these questions:
Is the value I create for people in my community, society, or the environment through my work accurately reflected in how I’m compensated?
What are the impacts on society and our collective well-being when corporations consolidate power through the court system and our elected officials?
As a worker, do you feel represented and protected by your HR department? Why or why not?
If you experienced your employer violating your rights or others, are you familiar with what resources are at your disposal and generally how the law works in order to appropriately deal with the situation?
EXTERNAL ACTION:
As a consumer, ask questions about worker’s pay and healthcare at the restaurants you frequent to let management know you care. Enough people asked for organics, and alternative milks, which led to change!
Download the ROC National Diners Guide to find places to dine that support and protect their workers. Encourage your own local restaurants to join the platform. The app is available for iOS and android.
Start a consumer-driven campaign on SpendRise using the demands outlined by One Fair Wage as one example.
If you take any of these actions, share that with us - action@howtocitizen.com. Mention Making Work in the subject line. And brag online about your citizening on social media using #howtocitizen.
We love feedback from our listeners - comments@howtocitizen.com.
Visit Baratunde's website to sign up for his newsletter to learn about upcoming guests, live tapings, and more. Follow him on Instagram or join his Patreon. You can even text him, like right now at 202-894-8844.
How To Citizen with Baratunde is a production of I iHeart Radio Podcasts. executive produced by Miles Gray, Nick Stumpf, Elizabeth Stewart, and Baratunde Thurston. Produced by Joelle Smith, edited by Justin Smith. Powered by you.
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In which the Platonic ideal of American "prep" fashion catches on with Japanese hipsters before it does back home, and Ken finds someone to blame for his short Uniqlo pants. Certificate #21125.
