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...After 91 minutes, the pilots resurfaced, saying they'd been absorbed in their laptops, reviewing a new crew schedule. On Oct. 27 the FAA revoked their licenses; commercial flying is a game with no room for error. And yet pilots' jobs are getting harder. Cost-cutting has trimmed starting pay at major airlines to $36,000--little more than a grade-school teacher's. Multiple short flights make it difficult for regional pilots to squeeze in adequate rest. The national air-traffic system relies on antiquated radio and radar; a teenager with an iPhone has more-advanced technology. There...
Radio has many would-be saviors. There are those, like the recently merged Sirius and XM, that have put all their chips on the pay-radio table. Others, including iBiquity Corp., believe the future is in HD radio. And there are others, like Mike Agovino, COO of Triton Digital Media, who believe that all radio stations need to create a digital infrastructure: ESPN Radio apps, Internet video of musicians or a morning-show host, online audio streamed through your computer at work. "We talk about the infinite dial," says Agovino. "The ability to access 20-, 30-, 40,000 radio stations...
Over the past decade, though, reality took a detour from Philippon's theory. Corporate America's need for outside financing fell, but the financial sector refused to shrink; it pumped out ever riskier products until the system nearly collapsed. Why the refusal? Maybe the pay was too good. Philippon and the University of Virginia's Ariell Reshef have found that, starting in the mid-1980s, financial-sector paychecks began to outstrip those for jobs in other sectors demanding similar skills and education levels. Since the late 1990s, Philippon and Reshef estimate, 30% to 50% of financial-sector pay has amounted...
...getting lost in all the shouting, though, is that its effects would be limited. The vast majority of Americans--those who get their coverage through larger employers--would not even be eligible to participate at first. And it wouldn't be free: those who enrolled would have to pay premiums, just as they would to a private insurance company...
...most liberal and far-reaching version, passed by two House committees, would tie the rates the public plan pays health-care providers to what Medicare reimburses. Given that Medicare reimbursement rates can be 30% lower than those paid by private insurers, such a system could be a powerful one at holding down costs and could save the Federal Government $110 billion over 10 years, according to the most recent estimates by the Congressional Budget Office (CBO). (The Federal Government's costs here would primarily be the subsidies it gives low- and middle-income people to help pay their premiums...