Word: rathering
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...hallmark of the Mondragon model is its use of capital. Rather than flowing into the pockets of executives and outside investors, a company's profits are distributed in a precise, democratic way; set aside as seed money for new cooperatives; distributed to regional nonprofits; or pooled into shared institutions like the university and research center. In other words, each individual cooperative gains long-term benefits from the financial assets of the whole. (How this would play out in the context of U.S. tax rules remains to be seen.) In Cleveland, the Evergreen Cooperative Development Fund, managed by ShoreBank Enterprise Cleveland...
...Witherell stresses that the union aims to implement the basic principles of worker ownership and democratic governance rather than precisely replicate the Mondragon model. Still, he says, success comes down to well-run companies that meet a need. "The people who formed these co-ops did not do so because of some egalitarian ideal - they did it out of the necessity to feed and provide for their families...
However, analysts believe the big 70% markdowns are more likely to be strategically slapped on certain items rather than spread store-wide as they were last year. "We're definitely expecting to see a lot of promotions in the days before Christmas, but we are not likely to see the blanket discounts and markdowns that we saw a year ago," says Ellen Davis, a spokesperson for the National Retail Federation. "You probably won't walk into a store and see signs for 60%, 70% or 80% off everything."See pictures of retailers which have gone out of business...
...they present data suggesting that almost every indicator of social health in wealthy societies is related to its level of economic equality. (See the data here). Comparing statistics between developed economies and within the U.S., Wilkinson and Pickett argue GDP and overall wealth matter little to wealthy societies. Rather, it is the gap between the rich and poor that is telling. They spoke to TIME about what they believe are revolutionary findings...
...insists that it has not, in fact, rejected the deal that would see the country exchange three quarters of its current enriched uranium stockpile for reactor fuel. Foreign Minister Manoucher Mottaki says Tehran simply wants to ship out its uranium in smaller parcels and over a longer time period, rather than in the single immediate shipment demanded by the West. But the Western powers are unwilling to change the terms of the deal, because their prime objective is to deplete Iran's stockpile in order to temporarily remove its capacity to build a bomb. (See pictures of people around...