ICYMI – Groundwork Exposes Big Driver of Recent Price Increases: Corporate Greed
February 15, 2022 Groundwork Collaborative
In case you missed it, Groundwork Collaborative’s experts have been sharing their research with Congress, media outlets, and over social media to help policymakers and people across the country cut through the corporate spin and learn more about one of the key drivers behind recent price increases: corporate greed.
Lindsay Owens: “You don’t have to take my word for it. They’re telling us, they’re crowing and bragging to investors in these earnings calls.”
Rakeen Mabud: “We’ve essentially spent 50 years handing our supply chain over to mega-corporations. These companies have built a system that works for them.”
See recent clips below – and email firstname.lastname@example.org to speak to Groundwork’s team of experts about the link between corporate profiteering and rising prices.
- Watch: Groundwork’s Executive Director Lindsay Owens appears on MSNBC’s The ReidOut with Joy Reid: “We combed through hundreds of earnings call transcripts and what we saw over and over again are CEOs crowing about their pricing actions…and what that means for these companies are increased profit margins.”
- Watch: Owens appears on Peacock with Ayman Mohyeldin: “Things look a lot less like your Econ 101 textbook and a lot more like an episode of The Sopranos.”
- Watch: Groundwork’s Chief Economist Dr. Rakeen Mabud tells Yahoo Finance: “At the end of the day, these companies are using those bottlenecks, those supply shortages, those very real price increases but adding just a little bit on top to pad those profit margins. And addressing the situation we are seeing now is really going to take a lot of tools across the toolbox.”
- Listen: Owens joins WNYC with Brian Lehrer: “I really wanted to make sure that an important part of the story that hadn’t been told very frequently came to the fore. That is that CEOs, and the big Fortune 500 companies on Wall Street, are loving inflation.”
- Listen: Counterspin interviews Dr. Mabud about the supply chain breakdown: “We’ve essentially spent 50 years handing our supply chain over to mega corporations. These companies have built a system that works for them.”
The Groundwork Collaborative’s mission is to advance an economic vision for strong, broadly shared prosperity and true opportunity for all. Visit our website and follow us on Twitter @Groundwork.