Economics

Apple GC Earned $5M In 2018, Over $20M Stock On Horizon

Apple Inc.’s general counsel Kate Adams took home about $5 million in pay last year, in addition to earning stock in the Cupertino, California-based computer giant that could be worth as much as $23 million, according to the company’s latest U.S. Securities and Exchange Commission filing…

Read this piece in its entirety at Law360.
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Cos. Face Rise In Need, Cost For Legal Work In Big US States

Corporate legal departments in some of the biggest states in the U.S. will have a greater need for legal services in the coming year and will also pay more for that work, according to survey data compiled by HBR Consulting…

Read this piece in its entirety at Law360.

Crime, Corruption Hurt Economic Competitiveness in LatAm: Report

A new report ranking the economic competitiveness of countries around the world suggests crime and corruption are taking a toll on the economies of many of Latin America’s largest countries…

Read this piece in its entirety at InSight Crime.

Brazil’s New Government Is Already Planning to Balance the Budget on the Backs of the Poor

Just days after the Brazilian Senate voted to suspend former President Dilma Rousseff and subject her to an impeachment trial, the country’s new right-wing government is already planning to balance the budget on the backs of the poor…

Read this piece in its entirety at Truthout.

Fact Check Argentina, At It Again

I made a tweet the other day that my good friends at Fact Check Argentina happened to pick up.

I thought this was pretty funny, seeing as I wrote a piece about ATFA that was pretty harshly critical of their attempts to, in the words of ATFA executive director Robert Raben, “do whatever we can to get our government and media’s attention focused on what a bad actor Argentina is.”

Well, the Buenos Aires Herald reported yesterday that the United Nations Office of the High Commissioner for Human Rights (OHCHR) sent a letter to ATFA’s main backer, the hedge fund NML Capital, owned by billionaire Paul Singer’s Elliott Management.

“Impeding Argentina from repaying its restructured bondholders and pushing the country into a debt crisis poses risks for the enjoyment of economic, social and cultural rights by its population,” the letter read.

I found it particularly problematic that ATFA appears to be ignorant of the widely-acknowledged link between economic hardship and increased crime and violence. I have personally written many times about this topic on this blog and in other forums.

ATFA even admits that “Argentina’s default is a tragedy and one that is unfortunately being borne by Argentina’s people,” but they claim this suffering is happening “while [Argentina’s] politicians prosper.”

In fact, it’s ATFA’s backers who stand to benefit from forcing the country to pay back the exorbitant amount sought by the so-called vulture fund.

Community consultation key for development

In December 1994, the UN declared the years from 1995 to 2004 the “International Decade of the World’s Indigenous Peoples.” The designation was renewed for the years from 2005 to 2014 and rebranded as a “Decade for Action and Dignity.” While some progress has been made toward protecting the rights and dignity of indigenous peoples in the years since these proclamations were first made, issues specifically affecting indigenous communities remain a political flashpoint in many areas of Latin America…

Read this piece in its entirety at Southern Pulse.

Fact-checking “Fact Check Argentina”

In 2001, Argentina defaulted on its national debt. More than 90% of lenders subsequently agreed to restructuring deals that allowed the country to exchange new bonds for the defaulted ones at a significant loss for the creditors. However, some investment firms labelled “vulture funds” by their critics – most of which are based in the Cayman Islands – bought up Argentine bonds at discount prices, hoping to use the US legal system to force the country to repay their full value…

Read this piece in its entirety at CounterPunch.