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Showing blog posts tagged with CEO pay

J.C. Penney CEO Compensation 1,795 Times What Former Fashion Jewelry Saleswoman Made

J.C. Penney CEO Compensation 1,795 Times What Former Fashion Jewelry Saleswoman Made

A new Bloomberg article notes that the CEOs of the Standard and Poor's 500 corporations make 204 times as much money as their own employees. The article highlights the most extreme disparity in the S&P 500, where former J.C. Penney CEO Ron Johnson received a total compensation package 1,795 times that of former fashion jewelry saleswoman Rebecca Gonzales in 2011.

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Report: You Paid $46 in 2011 to Subsidize Fat CEO Pay

Report: You Paid $46 in 2011 to Subsidize Fat CEO Pay

Next time you write your tax check to the Internal Revenue Service, imagine which multibillion-dollar corporation may get some of your hard-earned pay.

How about drugmaker Abbott Laboratories, which in 2011 claimed a $586 million tax refund for its 64 subsidiaries operating in 16 countries considered tax havens?

Or maybe Chesapeake Energy, a company that last year made $2.8 billion in pre-tax U.S. profits—but whose effective tax rate over the course of its 23-year history has averaged only about 1 percent?

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Tell Us What You Think: Caterpillar Makes Billions, Demands 6-Year Wage Freeze

Caterpillar workers and their families recently rallied against the massive giveback demands. Photo by peoplesworld/Flickr

Braving record heat and dangerous midwestern summer thunderstorms, groups of 15 members from the Machinists (IAM) Local 851 take four-hour shifts every day picketing the gates of the Caterpillar factory in Joliet, Ill. This is their 12th week on strike after Caterpillar, which made $4.9 billion in profits last year, demanded the nearly 800 workers accept a six-year wage freeze, doubled health care premiums and cuts to pensions. What do you think about Caterpillar making record profits and demanding its workers take a six-year pay freeze?

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Workers and Allies Barnstorm Verizon Shareholder Meeting

Lorenzo Scott

Members of the 99% Power coalition disrupted Verizon's annual shareholder meeting in Huntsville, Ala., six separate times today. In each instance, a group of protesters interrupted the proceedings using “Mic Check” tactics, followed by chants such as “Shame on you!” “Verigreedy!” and “People over profit!”  After each occurrence, the chanting group was led out by security people, with many in the audience applauding them. There were no arrests.

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Call Verizon Now and Tell It to Give Workers a Fair Shake

Thousands of working families are gathering outside the Verizon shareholder meeting this morning in Huntsville, Ala., to protest the company's "VeriGreedy" treatment of customers, workers and taxpayers.

Even as Verizon tripled the compensation of CEO Lowell McAdam to $23.1 million last year, the corporation was outsourcing U.S. jobs, gutting worker pensions and charging current and retired employees and their families thousands of dollars more for health benefits while cutting disability coverage. Meanwhile, employees have been struggling to win a new contract for nearly a year.

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New Today: CEO Pay and the 99%

New Today: CEO Pay and the 99%

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.

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Workers Challenge Whirlpool’s ‘Golden Coffins’

Workers Challenge Whirlpool’s ‘Golden Coffins’

Members of several unions showed up in force at Whirlpool Corp.’s annual shareholder meeting in Chicago Tuesday. David Jones, a retired member of IUE-CWA, and a former Whirlpool employee of the shuttered refrigerator facility in Evansville, Ind., presented the AFL-CIO’s shareholder proposal asking the company to obtain shareholder approval for any future “golden coffin” payments to senior executives.

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CEO Pay Rose in 2011. Again.

While millions of 99% Americans continue to be jobless and the nation’s unemployment rate hovers around 8.3 percent, chief executive officers of the nation’s largest companies received a 2 percent pay raise last year. While that may not seem like much of an increase, it came on top of a 27 percent hike in 2010, according to a report in USA Today.

The median, or mid-point, pay of top executives was $9.6 million in 2011, USA Today reported, based on 138 companies in the Standard & Poor’s index of 500 largest companies whose pay data has been disclosed. As more CEO pay data becomes public, the AFL-CIO Executive PayWatch website, paywatch.org, will be updated with more complete data in mid-April.

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