April 20, 2012
AFL-CIO Launches 'CEO Pay and the 99%'
The AFL-CIO revamped its executive pay watch website today, adding new shareable infographics and data on the business world's wealthiest 1 percent.
The renamed site "CEO Pay and the 99%" gives users a look inside CEO salaries in a database sortable by industry, state and the top 100 highest paid executives. It features data on corporate cash hoarders, the CEO-to-worker pay gap, the growing influence of mutual funds on pay issues and the world of private equity.
Did you know it would take a worker 11,000 years to earn the equivalent of Apple's CEO salary? Were you aware that over the past five years, Verizon Communications cut 41,100 jobs, but still stockpiled $14 billion and paid its CEO $23.1 million last year?
Companies are increasingly under fire for out-of-control CEO pay. On Tax Day, Citibank shareholders voted against extravagant compensation for the bank's top executives, including CEO Vikram Pandit's $15 million pay package. It was the first time a Wall Street firm faced such a stinging rebuke.
Visit www.paywatch.org to write the Securities and Exchange Commission and urge the agency to implement the Dodd-Frank Act's requirement that public companies disclose their ratio of CEO-to-worker pay.