After continued pressure from you and tens of thousands of people across the country, the U.S. Securities and Exchange Commission could finally be voting on implementing a rule requiring big companies to reveal their CEO-to-worker pay ratios as early as August.
In a blistering 13-page letter released earlier this week, Sen. Elizabeth Warren (D-Mass.) took U.S. Securities and Exchange Commission (SEC) Chair Mary Jo White to task for a series of broken promises made around the time of her confirmation. At the top of Warren’s list—the commission’s ongoing failure to finalize a rule requiring companies to disclose the gap between their CEOs' pay and that of the median worker.
The U.S. Securities and Exchange Commission has caved in to pressure from business groups and Republican lawmakers to postpone requiring companies to disclose the pay gap between their top executive and their median employee.
It’s been a long time since companies honored workers with more than just lip service once a year on Labor Day. Decades, actually. Since the late 1970s, wages of workers have not even kept pace with inflation. Meanwhile, CEO pay has soared. But because companies do not disclose a vital piece of information—the pay gap between their CEO and their typical worker—investors and the public cannot gauge which companies are investing in their workers and which are not.
Recent court filings by the U.S. Securities and Exchange Commission suggest that Brian Sutter, the staff director of the House Ways and Means Subcommittee on Health, could have been the source of inside information on changes in health care policy that led to illegal insider trading.
The Wall Street Journal reported on June 18 that federal prosecutors and the Securities and Exchange Commission are collecting evidence for a grand jury probe into whether Republican congressional staff on the House Ways and Means Committee tipped Wall Street traders off about changes in health care policy.
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.