At first glance, all seems serene on a spring morning at the research-and-development campus of SK Innovation, one of Korea’s biggest industrial conglomerates. The campus sits in Daejeon, a tidy, planned city an hour’s high-speed-train ride south of Seoul that the national government has built up as a technology hub. Dotting SK’s rolling acres are […]
The vast majority of Americans consider themselves “middle class.” No one can quite agree, though, on what that means. Richard Reeves, along with colleagues at the Brookings Institution, has cataloged no fewer than a dozen economic formulas that seek to define this elastic cohort largely by what people earn each year: household income between X […]
Authors of a new UN climate report say it is “extremely improbable” that governments across the globe will be able to stop global warming beyond the 1.5C target, the Guardian reported. According to the report, the global population would need to take dramatic action in terms of how it generates energy, and grows food, among […]
The U.K.’s government-run healthcare system, the National Health Service, turns 70 this month. There’s not much to celebrate. The NHS is collapsing. Patients routinely face treatment delays, overcrowded hospitals, and doctor shortages. Even its most ardent defenders admit that the NHS is in crisis. Yet American progressives want to import this disastrous model. About one […]
Thanks to the Tax Cuts and Jobs Act, signed into law in December, U.S. companies will no longer have an incentive to stash profits generated overseas to avoid high taxes at home. The new law dropped the U.S. corporate rate from 35% to 21%, put minimum levies on low-taxed foreign earnings, and imposed a one-time […]
This year’s Fortune 500 marks the 63rd running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $12 trillion in revenues, $890 billion in profits, $19 trillion in market value, and employ 28.2 million people worldwide.
A study found that the California State University system had 11,614 full-time faculty in 1973, and 12,019 in 2008. During that same time period, administrators grew from 3,800 to 12,183, ending up with more administrators than faculty. I would guess that things were not really all that lean in 1973 either. It has only gotten worse since 2008.
Apple has quietly moved thousands of employees into a campus that is bigger than any other that the company currently has—and it’s not its Cupertino, Calif. headquarters.
In the wake of a massive acquisition binge gone wrong and a stock that’s plummeted in recent months, beleaguered clean energy company SunEdison is closing factories and cutting jobs in an attempt to right itself.
A notable exception to the “right place” trend is California. Criticized by some as a hostile, high-cost environment for business, California has shown a remarkable knack for coming out ahead in the race for large companies. The Golden State’s strength, it would seem, is reinvention: lowering its profile in manufacturing and financial services and strengthening its footprint in technology. No fewer than 31 of the 51 California companies on the Fortune 500 in 1995 are absent from the 2014 list. Three large defense contractors moved to other states: Lockheed Martin to Maryland, Rockwell Automation to Wisconsin, and Northrop Grumman to Virginia. California also lost a host of prominent corporate residents to mergers — among them, Pacific Telesis to AT&T (Texas), PacifiCare to UnitedHealth Group (Minnesota), and BankAmerica to the renamed Bank of America (North Carolina).