New revelations about the conservative American Legislative Exchange Council (ALEC) illustrate the need for greater transparency by corporations for their political and lobbying spending. The internal documents released by The Guardian show that ALEC has targeted dozens of large corporations for fundraising in 2013, including what ALEC calls “prodigal son” corporations that had previously dropped their membership because of the organization’s controversial positions.
I’ve worked at Walmart in Baker, La., for eight years, and I’ve been a Walmart shareholder since I started. Times are tough for Walmart customers, but I want you to know that times are tough for many Walmart associates, too. We are stretching our paychecks to pay our bills and support our families. Many of us are not getting as many hours as we used to and that makes it even harder. Now the new associates in my store are not even hired as permanent employees. They are hired as temps with no benefits—not even a discount card.
American CEOs and boards of directors should take note of Pope Francis’ recent suspension of the “Bishop of Bling,” whose excesses included a $20,000 bathtub and a $42 million renovation of the German bishop’s residence, writes United Steelworkers (USW) President Leo W. Gerard.
Corporations will no longer be able to hide how much CEOs are paid compared to the workers who make those companies run, under a rule proposed today by the U.S. Securities and Exchange Commission (SEC). The rule requires companies to disclose the ratio of total compensation between chief executive officers and the median pay of employees.
That new rule does far more than help point out the historic and growing massive gap between CEO and worker pay. It is an important tool for investors to judge a company’s internal compensation structure, says AFL-CIO President Richard Trumka.
Despite the objections of investor advocates, the Securities and Exchange Commission (SEC) finalized a rule that will lift a decades-old ban on advertising by hedge funds. The original prohibition on such advertising dated back to Great Depression and protected people from investment scams.
The U.S. Securities and Exchange Commission (SEC) will consider a rule to require disclosure of political spending by publicly traded corporations in April. By putting this rule making on its agenda, the SEC is responding to the Supreme Court’s decision in Citizens United, which ended restrictions on independent corporate spending for public communications that influence elections.
Moments ago, we launched the 2012 AFL-CIO Executive PayWatch site—now called CEO Pay and the 99%—which includes the most comprehensive data accessible on 2011 executive pay. All of the data available is searchable by industry, by state and by the top 100 highest-paid CEOs.
AFL-CIO Policy Director Damon Silvers has been appointed to the Securities and Exchange Commission’s (SEC) new Investor Advisory Committee. The committee was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Here’s a great video that shows in part how the nation got to the point where inequality is so rampant, CEO greed so unrepentent and Wall Street so not held accountable that people across the nation have taken to the streets—and are staying there.