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New Report: CEOs Making 347 Times More than Average Workers

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CEO pay for major U.S. companies has risen nearly 6 percent, as income inequality and outsourcing of good-paying American jobs have increased. According to the new AFL-CIO Executive PayWatch report, the average CEO of an S&P 500 company made $13.1 million per year in 2016 – 347 times more money than the average rank-and-file worker.

The Executive PayWatch website, a comprehensive searchable online database tracking CEO pay, shows that in 2016, the average production and nonsupervisory worker earned approximately $37,600 per year. When adjusted for inflation, the average wage has remained stagnant for 50 years.

According to the report, AT&T CEO Randall Stephenson made over $28 million in 2016 – 755 times more than the average rank-and-file worker. Verizon CEO Lowell McAdam, pulling in almost $18 million in 2016, made 469 times the salary of an average worker. CenturyLink CEO Glen F. Post made almost $14 million in 2016 – 371 times more than an average worker.

Last Updated ( Friday, 12 May 2017 09:14 )
 

Democracy Update

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The courts recently handed out two big Florida voting rights victories in a blow to Republican Governor Rick Scott's attempts to keep people – especially those with lower income, the elderly, and people of color – from voting.

Scott tried and failed to prevent the state from extending the voter registration deadline to accommodate people affected by Hurricane Matthew.

A federal judge also ruled that if a voter's signature doesn't match the one on file, Florida must allow absentee voters the chance to verify their signatures and have their votes counted.

Last Updated ( Friday, 21 October 2016 10:04 )
 

W.Va. Right-to-Work Update

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The West Virginia Senate, by a 17-16 party line vote, approved the "right to work for less" bill today. That measure will go to the Republican-controlled House of Delegates next week.

But it's far from over. The State Supreme Court is determining how to fill the vacancy created when State Senator Daniel Hall resigned last month to become a lobbyist for the National Rifle Association. Hall was elected as a Democrat in 2012, but switched parties after his re-election in 2014.

Hall's switchover made the makeup of the Senate 18 Republicans and 16 Democrats, and Republicans began plotting their attack on union workers and collective bargaining rights.

The makeup of the Senate is critical to sustain the governor's expected veto of the "right to work for less" bill and other legislation that attacks union workers.

Governor Earl Tomblin (D) said that he believes a Democrat should be appointed, to respect the will of the voters who put Hall in office, and will follow the Supreme Court's direction.

Meanwhile, the "right to work" crowd is losing the economics argument. The Republican-led legislature had commissioned a West Virginia University study that found that so-called "right-to-work" policies led to more employment growth than states without those laws. But the Economic Policy Institute recently analyzed the economic impact data and discovered the study is "fraught with several problems." In fact, the errors are so glaring, they are "enough to allow serious researchers and conscientious policymakers to disregard the WVU study results." When corrections are made, EPI concludes, the relationship between "right-to-work" and employment growth actually "disappears."

Last Updated ( Friday, 22 January 2016 08:59 )
 

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