CEOs Pay Themselves What?

From the AFL-CIO

CEO pay soars to 361 times that of the average U.S. rank-and-file worker, according to the AFL-CIO’s new Executive Paywatch released this week.

The Executive Paywatch is the most comprehensive searchable online database tracking CEO pay. For the first time, thanks to new disclosure rules fought for and won by the labor movement, Paywatch now includes company-specific pay ratio data.

The AFL-CIO’s Executive Paywatch provides startling new data on CEO pay and the inequality that persists in America:

  • The CEO-to-worker pay ratio grew from 347 to 1 in 2016 to 361 to 1 in 2017.
  • CEO pay at S&P 500 Index companies is up 6.4%, to a total of $13.94 million in 2017.
  • The average S&P 500 CEO in the retail industry made 791 times that of the average median pay of their employees last year.
  • When adjusted for inflation, the $38,613 wage of production and nonsupervisory workers, on average, has remained stagnant for more than 50 years.
  • 989 to 1: That’s the ratio of pay between the average worker and Dirk Van de Put, the new CEO of Mondel─ôz, the corporation that’s outsourcing the production of Oreos and other all-American snacks to Mexico while destroying thousands of good-paying union jobs. Van de Put made more than $42.4 million in total compensation in 2017.

 

“Too many working people are struggling to get by, to afford the basics, to save for college, to retire with dignity, while CEOs are paying themselves more and more,” AFL-CIO Secretary-Treasurer Liz Shuler told reporters on a call this morning.

This new data highlights why the AFL-CIO is leading a massive and growing movement to write new economic rules to raise pay for workers so our families and communities can thrive.

***

Posted In: From AFL-CIO, Union Matters

Union Matters

He Gets the Bucks, We Get All the Deadly Bangs

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

National Rifle Association chief Wayne LaPierre has had better weeks. First came the horrific early August slaughters in California, Texas, and Ohio that left dozens dead, murders that elevated public pressure on the NRA’s hardline against even the mildest of moves against gun violence. Then came revelations that LaPierre — whose labors on behalf of the nonprofit NRA have made him a millionaire many times over — last year planned to have his gun lobby group bankroll a 10,000-square-foot luxury manse near Dallas for his personal use. In response, LaPierre had his flacks charge that the NRA’s former ad agency had done the scheming to buy the mansion. The ad agency called that assertion “patently false” and related that LaPierre had sought the agency’s involvement in the scheme, a request the agency rejected. The mansion scandal, notes the Washington Post, comes as the NRA is already “contending with the fallout from allegations of lavish spending by top executives.”

***

More ...

Corruption Coordinates

Corruption Coordinates