This week in the war on workers: CEOs being paid 271 times the average worker

The Economic Policy Institute is out with its annual look at CEO pay, and by two measures, the pay of CEOs at the nation’s 350 largest companies is nauseating: 271 times what the typical worker made. Though that ratio is down from its peak, consider that in 1989, the ratio was 59 to one. That means we’re talking about a shift that happened during the lives of Millennials. 

  • Using the stock-options-realized measure, the average CEO compensation for CEOs in the 350 largest U.S. firms was $15.6 million in 2016. Compensation in 2016 (data available through May) is down 4.3 percent (from $16.3 million) since 2015 but up 45.6 percent (from $10.7 million) since the recovery began in 2009. The fall in average compensation reflected a loss for the highest-paid CEOs while those in the bottom 80 percent earned more in 2016 than in

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This week in the war on workers: CEOs being paid 271 times the average worker

The Economic Policy Institute is out with its annual look at CEO pay, and by two measures, the pay of CEOs at the nation’s 350 largest companies is nauseating: 271 times what the typical worker made. Though that ratio is down from its peak, consider that in 1989, the ratio was 59 to one. That means we’re talking about a shift that happened during the lives of Millennials. 

  • Using the stock-options-realized measure, the average CEO compensation for CEOs in the 350 largest U.S. firms was $15.6 million in 2016. Compensation in 2016 (data available through May) is down 4.3 percent (from $16.3 million) since 2015 but up 45.6 percent (from $10.7 million) since the recovery began in 2009. The fall in average compensation reflected a loss for the highest-paid CEOs while those in the bottom 80 percent earned more in 2016 than in

    Continue reading “This week in the war on workers: CEOs being paid 271 times the average worker”

This week in the war on workers: CEOs being paid 271 times the average worker

The Economic Policy Institute is out with its annual look at CEO pay, and by two measures, the pay of CEOs at the nation’s 350 largest companies is nauseating: 271 times what the typical worker made. Though that ratio is down from its peak, consider that in 1989, the ratio was 59 to one. That means we’re talking about a shift that happened during the lives of Millennials. 

  • Using the stock-options-realized measure, the average CEO compensation for CEOs in the 350 largest U.S. firms was $15.6 million in 2016. Compensation in 2016 (data available through May) is down 4.3 percent (from $16.3 million) since 2015 but up 45.6 percent (from $10.7 million) since the recovery began in 2009. The fall in average compensation reflected a loss for the highest-paid CEOs while those in the bottom 80 percent earned more in 2016 than in

    Continue reading “This week in the war on workers: CEOs being paid 271 times the average worker”

Likely Trump pick for enforcing federal wage laws sued for stiffing her house cleaners

Ah, finally a good old-fashioned Trump hiring story, the kind our days were filled with in the first weeks of the administration as Trump stuffed his team with fellow narcissistic, promoted-above-their-pay-grade, antithesis-of-their-supposed-job jackasses. Let’s all bask in the news that the person Donald Trump is “expected” to tap as top enforcer of federal wage and overtime rules was sued just last year for not paying her house cleaners.

Laurie Titus of Sunflower Cleaning Group stated in her suit that [current head of South Carolina’s Department of Employment and Workforce Cheryl Stanton] failed to pay for four house cleaning visits, at $90 each.
“I have emailed, mailed, and certified mailed trying to get payment,” the lawsuit said.

Well you can see why Trump likes her. Donald has nothing but respect for people who try to stiff their workers for a decent day’s work. It’s also very important to him that he

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This week in the war on workers: Ivanka’s real brand is exploitation

You should read this Washington Post investigation of Ivanka Trump’s clothing manufacturing practices for a lot of reasons—to hear from the workers, to be reminded how far Trump rhetoric on workers diverges from Trump practice, and to learn something about what goes into your clothes, Ivanka-branded or not. Sample:

A 25-year-old woman said PT Buma hires her as a fabric cutter on a day-to-day basis, paying her a monthly salary that ranges between $68 to $135 for as much as 24 days of work — far below the region’s minimum wage and a rate that workers advocates say is probably a violation of local law.

The fabric cutter and her husband have to borrow money to cover their daily expenses and those of their 10-year-old son, who lives 45 minutes away with his grandmother. She sees him about once a month.

Their possessions consist of her husband’s motorbike and their

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Cartoon: Tesla’s Model 3 and Cheap-Labor-For-You, Inc.

I’m on vacation but wanted to repost this cartoon as Tesla begins to roll out it’s new Model 3 this week. Besides being really super-dooper cool and high tech, Teslas come with some increasing labor issues, too.  

Every once in a while a story comes along that really shocks and surprises me, often right in my backyard. This is one of those stories. How could the Tesla car company, symbol of forward-thinking, wealth and techie cool have people from Eastern Europe working at their Bay Area factory making $5 an hour?! That’s right, over a hundred people were brought to Tesla’s Fremont, California plant from places like Slovenia and Croatia to work ten-hour days making $5 an hour.

These guys built a huge new paint shop at the Tesla factory that is rapidly ramping-up production for the Tesla Model 3. (Tesla has

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This week in the war on workers: Washington state gets paid family leave

Paid family leave is becoming law in Washington state. The state legislature passed and Gov. Jay Inslee has signed a law giving workers up to 12 weeks of paid family leave for birth, adoption, or the worker’s own or a family member’s medical condition, and up to 16 weeks in a year:

The Washington state program would benefit low-wage workers because those earning less than half of the state’s weekly average would receive 90 percent of their income—to a maximum of $1,000 per week. The benefits are based on a percentage of the worker’s average weekly wage and the state’s weekly average wage, which was $1,133 in 2016.

The program is largely funded by workers, who will pay a premium of 0.4 percent of their wages each paycheck into a state-run insurance fund. This would cost a minimum-wage worker about 3 cents an hour, according to the bill’s sponsor.

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