05/3/13
2013 Workers Protesting In Belgium | Image Credits: Kevin Van den Panhuyzen

Weekly Newsmakers – A Bitter Aftertaste on International Workers’ Day

2013 Workers Protesting In Belgium | Image Credits: Kevin Van den Panhuyzen
Workers Protesting In Belgium | Image Credits: Kevin Van den Panhuyzen via Flickr

May Day, or International Worker’s Day – the global counterpart of our beloved Labor Day holiday – proves to be a heated platform for protests and remonstrations again this year as workers lashed out to lament growing economic unrest this past Wednesday.

Although global ‘Labor Day’ movements seemed to start off ‘quietly’ on May 1st this year, news from Europe gradually filtered into the U.S. as images of disgruntled workers overseas captured the attention of Americans stateside. In Paris, the far-right National Front led a rally through the heart of the city, disgruntled with record-high unemployment levels. Spain’s labor unions rallied in over 80 cities.

In Asia, Bangladeshi garment workers paraded through cities demanding safety measures, progressive benefits, and better working conditions – calls to action that were clearly a response to the Bangladesh garment factory building that collapsed about a week ago and killed hundreds. Indonesians, Filipinos, and Cambodians marched in their respective counties bemoaning the skyrocketing cost of living and endless battles with big business. Indonesia, which ranks fourth in the most populous countries in the world, drew tens of thousands of protesters to assemble for increased wages and for the end to outsourcing jobs to contract workers.

Perhaps some of the most controversial news on International Labor Day came from Greece. In a highly visible and publicized country-wide event, thousands of Greeks walked off their jobs – leaving state-owned hospices and clinics to fend for themselves with emergency employees.  Protesters also created massive disturbances for public transportation. Labor Day marked the second calculated strike against Greek government’s austerity processes this year. Greek labor unions have fought against three years of state-backed economic schemas that have increased taxes and cut salaries and pensions.

What are your thoughts on May Day? Voice your thoughts in the comments section below.

03/19/12

Mitsui Lunchtime Forum: Mayan Meltdown or Moderate Momentum?

The first Mitsui Lunchtime Forum of the spring semester kicked off with speaker John F. Adams, Managing Director at JP Morgan Chase. The topic, Mayan Meltdown or Moderate Momentum? Current Perspectives on Global Markets, was a look at our current economic state and attempting to figure out if it is part of the cyclical cycle of economics or a  longer lasting issue that requires new solutions.

Using a recent vacation to the Yucatan Peninsula in Mexico and the ancient Mayans as a metaphor of adaptation to one’s environment, Mr. Adams pointed to the financial situations in Germany and the Netherlands as opposed to those in Greece and Italy as examples of the economic cyclical cycle at work.

Dr. Adams has been involved in J.P. Morgan’s Investment Bank recruiting efforts at Baruch College since 2007 and earned his M.A. and Ph. D. in Economics from Ohio State University.