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Showing blog posts tagged with Securities and Exchange Commission

New ALEC Documents Show Why the SEC Needs to Require Corporate Political Spending Disclosure

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.

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Janet Sparks, a Walmart Associate, Wants to Talk to You About CEO Pay

Janet Sparks was the first and only person in her store who walked off the job then helped organize her co-workers.

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.

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What’s the Connection Between Pope Francis and the ‘Bishop of Bling’ and CEO Pay?

Photo by the Catholic Church via Flickr Creative Commons

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.

Click here to tell the SEC companies must disclose CEO-to-worker pay ratios.

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Here's a Law Walmart Doesn’t Want You to Know About

Here's a Law Walmart Doesn’t Want You to Know About

We already know CEOs of major corporations took home 354 times more pay than the average rank-and-file U.S. worker in 2012. Now, we have the opportunity to see what CEOs make compared with the typical worker in their own companies.

rule proposed by the U.S. Securities and Exchange Commission (SEC) would require companies to disclose the ratio of total compensation between CEOs and the pay of the typical worker. The SEC rule is part of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. Major corporations like Walmart really don't like this, which is why we need your help.

Tell the SEC companies must disclose CEO-to-worker pay ratios. 

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House Bill Would Block DOL Rule to Protect Workers’ Retirement Savings

Photo via Alliance for Retired Americans.

A bill (H.R. 2374) set for a vote in the House Tuesday would delay and could ultimately thwart the Department of Labor’s effort to protect workers’ retirement security. The DOL wants to close loopholes and update the rule that protects workers from deceptive or abusive practices whenever they seek investment advice about their retirement savings

Call Congress at 1-888-912-5898, ask for your representative’s office, and urge him or her to protect workers’ retirement security and oppose H.R. 2374.

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SEC Rule on CEO Pay Helps Investors Judge Compensation Practices That Affect Performance

Photo by Brandon Rees

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.

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SEC Opens the Door to Hedge Fund Advertising, Repeals Investor Protections Dating Back to the Great Depression

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.

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SEC Moves Closer to Require Disclosure of Corporate Political Spending

Illustration by DonkeyHotey/Flickr

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.

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Trumka Applauds Schneiderman Lawsuit Against Bear Stearns

Photo by Benjamin Dumas.

In an era when the rich and powerful line their own pockets at the expense of workers, homeowners and investors, New York State Attorney General Eric Schneiderman is striking a blow for accountability and equal justice, says AFL-CIO President Richard Trumka. 

Schneiderman just filed a lawsuit against Bear Stearns alleging that the former investment bank created fraudulent mortgage-backed securities.

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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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