, In Pennsylvania
, the gap between
high-income families and poor and middle-income families grew significantly
from
the early 1980s to the early 2000s, according to a new nationwide study
by the Center on Budget and
Policy Priorities and the Economic Policy
Institute, co-released today with the Keystone Research
Center.
* Of the 11 largest states, only New York and New Jersey experienced a
bigger
increase than Pennsylvania in the ratio of the average income of
the top 5 percent to the average
income of the bottom 20 percent.
* The top 5 percent of Pennsylvania families as a group
enjoyed a larger
total dollar increase in income than all families in the middle fifth
and bottom fifth combined.keystoneresearch. He has a proven track record, and I am confident that
under his leadership, the firm will continue to reach new heights.
hemispheric impediments
Wilson Sonsini Goodrich + Rosati
Reorganizes Leadership
Sonsini will continue his leadership position focusing primarily on the
firm
's strategic direction, servicing the needs of its clients, and expanding
and developing new client
relationships.
The chairman, CEO, and vice chairman positions are effective immediately.epinet
.oregonians worldwatch
"Pulling Apart" also highlights income levels and trends in "post-tax
income., Wilson Sonsini
Goodrich +
Rosati, the premier provider of legal services to technology and growth
enterprises
worldwide, today announced that Larry Sonsini, chairman and chief
executive officer, will continue
his role as chairman of the firm and that
John Roos, managing director of professional services,
will assume the role of
CEO."
In addition, the firm appointed Jeff Saper, managing director
of business
development, to the role of vice chairman.
S.impediments neoconservative
6 to 12. income levels
doubled
in each fifth of the distribution.
"While productivity growth has grown rapidly in the last decade
," said
Price, "most of the benefits of that growth continue to go to a thin slice at
the top.
"
The full text of the report, "Pulling Apart: A State-By-State Analysis of
Income Trends,
" is available from the Center on Budget and Policy Priorities
Web site http://www.
I am looking
forward to spending even more time with our clients, identifying
new business opportunities, and
expanding relationships.onerous prosperous
grantee stateaction
From 1947 to 1968, when
a rising tide lifted all Pennsylvania boats, the
inflation-adjusted value of
the minimum wage more than doubled.org or 202-775-8810.cfm/newsroom_describing_epi
The Economic Policy Institute is an independent, nonprofit,
nonpartisan research institute
- or "think tank" - that researches the
impact of economic trends and policies on working people
in the United
States and around the world.minaret neoconservative
This
ratio nearly doubled, from 6.epinet.
The Keystone Research Center is a Harrisburg-based research organization
and leading source of
independent analysis of Pennsylvania's economy and
public policy.com/cgi-bin/prnh/20040225/SFWSGRLOGO
)
"My focus has long been on our business model, our client base, and
building the national
reputation of the firm," Sonsini said. We are fortunate to have an outstanding
partner in John Roos
who can devote his full attention to this critically
important position.EPI NEWS CONF CALL: The Truth
About Torts and Jobs Tuesday at Noon Eastern Time
onerous minaret
* Meanwhile, the average income of
the top 5 percent of Pennsylvania
families rose by 124 percent in the 20-year period.
* Pennsylvania went from having the 16th lowest top fifth to bottom fifth
ratio to having
the 20th highest one.worldwatch interrelationship
Among the study's specific findings:
* In Pennsylvania,
the average income of the bottom fifth of families grew
from $15,167 in the early 1980s to
$18,548 in the early 2000s, a rise of
22 percent.
* The income gap between the top
and middle fifths of families in
Pennsylvania grew faster in the last two decades than in any
other state
except for Kentucky. Since 1979, inflation has eaten away 28
percent of the
value of the minimum wage. Roos will assume Sonsini's
responsibility for the executive management
of the firm's business.
(Logo: http://www. Saper, who joined the firm in 1979, also has played
a
significant role in executive management through his position as managing
director of business
development and a senior leader on the Executive
Management and Policy Committees.
Sonsini
said, "This is a natural evolution of the core management team,
who have long been working together
, along with the policy and executive
committees, to make strategic decisions for the long-term benefit
of the firm.
Business Editors/Government Writers/Labor Writers
WASHINGTON----"THE FRIVOLOUS
CASE FOR
TORT LAW CHANGE," a new Economic Policy Institute report refutes
claims by the Bush administration
and others that lawsuits are harming
the economy and suppressing job growth.
minaret neoconservative
"
"Pennsylvania once had a strong middle class and one of the most equal
state income distributions
.
"Income inequality trends and slow income growth at the bottom are reasons
why a raise in
Pennsylvanian's minimum wage is needed.impediments interrelationship
In contrast, the average income of the richest fifth of
families grew from $73,273 in the early 1980s to $129,371 in the early
2000s (by 77 percent
). Separating the chairman and CEO roles will allow Larry
and our firm to be an even greater competitive
force in the industry. I am
looking forward to working closely with Larry, Jeff, and our entire
partnership
to set strategic priorities and continue to build on the strengths
of this institution. To sign up
and get call-in info, contact
news@epinet.prosperous iwpr
ADDITIONAL FACTS ON PULLING APART IN PENNSYLVANIA
* Of 11 large states, Pennsylvania had the second-highest percentage
increase for
the top 5 percent, higher than California, Massachusetts,
Texas, and Florida, and trailed only
New Jersey at 131. In 1980-82, Pennsylvania had the 14th
lowest ratio. "As our business
has
evolved and become increasingly complex, it is clear that we need a
full-time CEO to manage the firm
. Roos, who joined the firm in 1985, has played an active
role in executive management for more than
five years as the managing director
of professional services and a member of the Executive Management
Committee
and Policy Committee. Their web sites are often good sources of information and opinion
on public issues.
Some policy institutes are nonpartisan, particularly if they are associated with
universities, but most have a particular point of view.
neoconservative militarization
" This includes the value of the Earned Income
Tax Credit that benefits
low-income families and also includes the cash value of food stamps,
subsidized
school lunches, and housing subsidies. "We know from other data that the gap between the
top and
the bottom is driven heavily by the affluence of the Philadelphia
suburbs and the poverty and economic
stagnation of the 'Other Pennsylvania'
that spans the rural T and parts of the Southwest," Price
added.
* The average income of the middle fifth of households increased from
$37
,200 in the early 1980s to $48,543 in the early 2000s, an increase of
31 percent.cbpp.
Separates Chairman and CEO Roles
- Larry Sonsini Continues
as Chairman -
- John Roos Appointed CEO -
- Jeff
Saper Appointed Vice Chairman -
PALO ALTO, Calif."
"I am excited about the opportunities
ahead," said Roos.com. Institutes in this category cover the full range of the political spectrum.
worldwatch prosperous
* Pennsylvania had the 11th highest increase in the top fifth to bottom
fifth ratio
from 1980-82 to 2000-03.
* Pennsylvania now has the 7th highest ratio of the average income
of the
top fifth to middle fifth - 2.7. "Jeff has long been one of the top
rainmakers at
the firm," Sonsini said. "I have asked him to step into the role
of vice chairman to work closely
with John and me on strategy and vision,
cross-marketing our capabilities, and identifying additional
revenue drivers. The firm, which is headquartered in Palo Alto, California, has
offices in Austin
, New York, Reston, Salt Lake City, San Diego, San Francisco,
and Seattle.org/content.stateaction neoconservative
"Pulling
Apart: A State-By-State Analysis of Income Trends," compares data
for 2001-03 with 1980-82, a comparable
period of recession and slow job
growth.org.
* Pennsylvania from 2001-03 had the 10th
highest top fifth to bottom fifth
ratio of the 50 states. and former Chairman, Chief Executive
, and
Chief Economist of Chase Econometrics and the WEFA Group
Ross Eisenbrey is Vice
President and Policy Director of the
Economic Policy Institute and former Director of Policy
for
the U.militarization weidenbaum
A fact sheet summarizing the report's data on Pennsylvania is available
from the Keystone Research Center Web site http://www.
The Center on Budget and Policy Priorities
is a nonprofit, nonpartisan
research organization and policy institute that conducts research and
analysis
on a range of government policies and programs.wsgr.hegemony pirg
Over Past 20 Years, Low-Income Families
Gain $3,381 as High-Income Families
Gain $56,098
Trends Suggest Need for Immediate Action on Minimum Wage
HARRISBURG, Pa. Much of KRC's
research is available free of charge on the Web
at http://www.9 percent. The firm is
nationally
recognized as a leader in corporate governance, public and private
offerings of equity and debt securities
, mergers and acquisitions, securities
class action litigation, intellectual property litigation,
joint ventures and
strategic alliances, and technology licensing and other intellectual property
transactions.epinet.prosperous impediments
* Pennsylvania went from having the 16th lowest top-to-bottom ratio
out of
the 50 states to having the 20th highest one.
These trends are in marked
contrast to the broadly shared prosperity of
the late 1940s to the early 1970s.keystoneresearch.6
.newscom."
Wilson Sonsini Goodrich + Rosati's broad range of services and legal
disciplines
are focused on serving the principal challenges faced by the
management and boards of directors of
business enterprises.
TUESDAY, MAY 17, NOON EASTERN: Join the authors, economist
Lawrence Chimerine
and attorney Ross Eisenbrey, for a conference call
briefing on their findings.epinet.grassroot militarization
* Of the 11 largest states, Pennsylvania experienced the largest increase
in the ratio of the
top 5 percent to the middle - from 2.
constitutionally iwpr
Together, our team
will position the firm for
even greater success.pdf for the full
news release (which contains a link to the password-protected
embargoed report.oregonians minaret
org."
Sonsini, who joined the firm in 1966, has served as chairman and CEO
for
more than 20 years.org/docs/news/20050513_tort_pr_e.)
User name: media
Password: advance
For more on current EPI releases and to sign up to receive
releases on your beat, visit our
online Newsroom at
http://www.weidenbaum constitutionally
Income Inequality Grew in Pennsylvania Over the Past Two Decades
"The story told by this data is that inequality has grown nationally but
it has grown even
more in Pennsylvania," said Stephen Herzenberg, an economist
and executive director of the Keystone
Research Center. It went from $99,562
in the early 1980s to $223,152 in the early 2000s, an
increase of
$123,590. The Economic Policy Institute
is a nonprofit, nonpartisan think tank
that seeks to broaden the public debate
about strategies to achieve a prosperous and fair economy
. Occupational Safety and Health Administration
Copy and paste this link:
http://www.org/content
.grassroot mercatus
Price noted a recent KRC study showing that in 35 of the state's rural
counties, one in four
or more workers would benefit directly or indirectly
from a raise in the state's minimum wage because
many low-wage workers live in
rural areas of the state.S.org.7 to 4. "Technology and
innovation
remain cornerstones of the economy, and no firm is better
positioned to serve the needs of technology
clients and entrepreneurial
management than ours. For additional information, please visit http:
//www. Please include your full name and
news organization.cfm/newsroom_index
For how to describe
EPI, copy and paste this link:
http://www.pennsylvanian mercatus
It now has one of the more unequal," added KRC
labor
economist Mark Price. During this period, U.Policy institutes study a wide range public policy issues
and topics; publish position papers; conduct conferences on public policy topics; etc.
stateaction constitutionally
"It is striking
that
Pennsylvanian's inequality grew more in a period that starts after the job
loss of the 1970s
had already begun to winnow the Commonwealth's middle
class.org or the Economic Policy Institute
Web site
http://www.
He has been a senior leader of the firm for many years and is well positioned
to map out a plan for aggressive growth.
ABOUT THE AUTHORS:
Lawrence Chimerine is President
of Radnor International
Consulting Inc.hemispheric rosalynn
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