Posts Tagged ‘executive pay’

Verizon Workers Rally for a Fair Deal

This weekend over 15,000 Verizon employees rallied outside the company’s corporate headquarters in New York City. The current contract between Verizon and over 40,000 of its wireline division employees, who are represented by the Communication Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), expires this Sunday, August 7th. Although Verizon has raked in billions in profits over the last four years-enough to pay CEO Ivan Seidenberg over $80 million-the telecommunications giant is looking to squeeze its workers with drastic cuts to pay and benefits. Read more »

 

America’s Workers Need a Voice to Avoid Being Left Behind

It is increasingly apparent that, when left to their own devices, CEOs will leave workers behind. Last week, The Washington Post ran a special report on the growing economic inequality in the United States. Executive pay has skyrocketed since the 1970s, while the incomes of most Americans have stagnated. According to the Post, “A mounting body of economic research indicates that the rise in pay for company executives is a critical feature in the widening income gap.”

As Jon Talton noted in The Seattle Times over the weekend, in 1980 the average CEO was paid 42 times what the average worker earned. In 2010, CEO pay was 343 times that of the average worker. Not surprisingly, many companies would like to keep this information quiet, and are resisting pressure to disclose their pay ratios. These accelerating income disparities and pay differences aren’t  just mathematical curiosities; they’re a real problem that strikes at the heart of the endangered middle class. Read more »

 

When will the goal posts move for workers?

The New York Times reported over the weekend that Walmart plans to change its compensation strategy. Assuming the company read our report on turning its associates’ low-paying jobs into hourly careers, my first thought was, “This is great”! But my hopes were dashed by the second paragraph, where readers learned that Walmart was only adjusting its executive pay system.

And they’re not scaling back—not by a long shot. Read more »