Multinationals increase overseas hiring
U.S. multinational companies increased employment overseas by 2.4 million in the 2000s, even as they cut their U.S. workforces by 2.9 million. Overall, big-name firms employed 21.1 million people in the U.S. in 2009, and 10.3 million abroad.
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299 CEOS vs. 102,325 workers
Chief executive officers at 299 U.S. companies earned a combined total of $3.4 billion in 2010, a 23 percent increase from the year before. That amount would support 102,325 workers earning a median wage.
Bloomberg.com
Drugmakers to lose patents in 2011
The drug-making industry is expected to report its biggest drop in quarterly profits since 2006, as a record number of patents are set to expire this year. The 11 largest drugmakers, which include Pfizer, Merck, and Bristol Myers Squibb, are likely to have seen earnings fall 1.4 percent in the first quarter.
Bloomberg.com
Student-loan debt surpasses credit card debt
American student-loan debt outgrew credit card debt for the first time in 2010, and is likely to top a trillion dollars this year. The average U.S. graduate now owes $24,000 in debt.
The New York Times
U.S. places third in renewable energy investing
Germany has pushed the U.S. to third place as an investor in clean-energy technology by investing $41.2 billion last year in renewable energy. The U.S. invested $34 billion, while China still leads the pack with $54.4 billion.
Global Post
Schwab scraps employee-of-the-month awards
Charles Schwab & Co. has scrapped its employee-of-the-month awards. Some managers felt obliged to honor each employee, devaluing the award. Other managers rewarded only their favorites, sowing resentment.
Bloomberg Businessweek