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Showing blog posts tagged with Securities and Exchange Commission

Honor Labor Every Day, Not Just on Labor Day

Honor Labor Every Day, Not Just on Labor Day

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.

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Feds Home In on Senior Republican Staffer as Possible Source of Insider Trading Leak

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.

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SEC Subpoenas House Republican Staff as Part of a Trading Probe

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.

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SEC Uncovers Improper Fees Charged by Leveraged Buyout Funds

Photo courtesy Michael Daddino on Flickr

It seems there is no end to the extremes to which the titans of Wall Street will go to pad their pockets. The latest example came last week when the head of examinations for the U.S. Securities and Exchange Commission revealed that SEC examiners have uncovered rampant fee abuses by leveraged buyout fund (aka ‘private equity’) advisers.

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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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