Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Matt Rocheleau Globe Staff March 18, 2019 The highest-paid Mass. quasi-public employees in 2018 Quasi-public agencies are established by the state, provide public services, and receive state financial support, but unlike regular government agencies, they are legally structured to operate somewhat independently. The agencies also operate with less public accountability than traditional government offices, with their budgets largely kept separate and not subject to legislative oversight. Many quasi-public agencies generate significant revenue from fees they charge to customers, such as tolls, fares, and rent. | Related: Pay records show hefty spending at Mass. quasi-public agencies | (Note: This table does not include figures for several quasi agencies that reported their payroll with the rest of the state's traditional offices. To read more about those other … [Read more...] about Here’s a list of the 100 highest-paid Mass. quasi-public workers in 2018
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By Elizabeth Dilts and Sumeet Chatterjee NEW YORK/HONG KONG (Reuters) - Goldman Sachs Group Inc <GS.N> is considering paying big multinational corporations more for their deposits than other banks as it paves the way for its entry into a mundane but prized business: managing cash. The global investment banking powerhouse and fifth-largest U.S. bank, which is six months into building the required technology, aims to start the service in the first half of 2020, according to two people familiar with the plan. They agreed to discuss internal strategy on the condition they not be named. The bank, which will earn fees and gain a captive client base for its foreign exchange business, could offer existing corporate clients more on deposits if they sign up for Goldman's cash management services, a person familiar with the plan told Reuters. Long considered a low-margin, utility-like service, the wholesale payments and cash management business generated about $250 billion (195.97 billion … [Read more...] about Exclusive: Goldman Sachs on course to launch cash management in mid-2020
POLITICS 12/19/2018 11:57 am ET Experts fear the law's incentives will leave fewer workers with basic job protections. By Dave Jamieson and Arthur Delaney The GOP tax law passed last year could hasten a workplace trend away from direct employment and toward the use of independent contractors, an arrangement that may save businesses money but would shortchange everyday workers in unseen ways. That’s the takeaway from a new paper by the Center on Budget and Policy Priorities, a progressive think tank that’s been critical of the Republican tax overhaul. Researchers there say the Tax Cuts and Jobs Act, which President Donald Trump signed a year ago this week, gives workers an incentive to take contractor jobs that forgo basic labor protections and drive down wages in blue-collar fields like trucking and janitorial services. The White House has argued that by cutting corporate taxes and making it easier for firms to write off expenses, the law encourages companies … [Read more...] about Happy Birthday, GOP Tax Law. More Workers Might Become Contractors Because Of You.
By David French and Joshua Franklin(Reuters) - Private equity firm Blackstone Group LP <BX.N> is readying an initial public offering (IPO) of Alight Solutions LLC, a U.S. provider of healthcare and retirement benefits services that could be valued at more than $7 billion, including debt, according to people familiar with the matter.gi The IPO could some in the first half of 2019, the four sources said, almost two years after Blackstone acquired Alight from insurance broker Aon Plc <AON.N>, in a deal that valued it up to $4.8 billion. It would allow Blackstone to turn a profit by gradually selling its Alight stake in the stock market.Blackstone has hired Bank of America Corp <BAC.N>, JPMorgan Chase & Co <JPM.N> and Morgan Stanley <MS.N> to underwrite Alight's IPO, the sources said. Blackstone will also consider any acquisition offers it may receive for Alight, even as it is focused on taking the company public, the sources added.The IPO could raise … [Read more...] about Exclusive: Blackstone plans IPO of U.S. benefits manager Alight
Verizon’s 13 board members outsourced many jobs at many other companies before launching their joint campaign to outsource 44,000 Verizon jobs, including at least 2,500 computer jobs to low-wage Indian visa-workers. The Verison computer jobs are being outsourced to Infosys, an Indian company accused of undercutting American workers and discriminating against black and white Americans in favor of Indian nationals. Breitbart News reported:Verizon executives claim the computer outsourcing will only impact 1,000 Verizon workers, but employees who spoke to Breitbart News say that the outsourcing will hit 5,000 workers eventually, as 44,000 jobs are shed. Verizon spokesperson Rich Young told Breitbart News in a Tuesday statement that he does not know “where these numbers are coming from,” and called the estimate “nothing more than fake news.” On Oct. 3, the Wall Street Journal confirmed the 44,000 figure, adding “a spokesman for the company … [Read more...] about Verizon’s Board Members Push Armies of H-1B Outsourcing Workers into Many U.S. Companies