Baseball’s top hitter and Wall Street power suits both ply their trades in a high-speed world. That hitter will make over a quarter-billion in the next decade. The top suits stand to ‘earn’ astonishingly more. The phenomenon of high-speed trading accounts for one reason why.
Equal pay for equal work? We still haven’t arrived at that destination. Decent pay that reflects the dignity of all who labor? In today’s America, we’ve barely even begun that journey, as suggests a deeper look into the controversy over the compensation for GM’s first female CEO.
America’s corporate CEOs feel entitled to pensions that pay out $86,000 monthly. To protect their entitlement, they’re attacking ours: Social Security. But a new report neatly exposes the monumental hypocrisy of their legislative assault on America’s only remaining retirement bedrock.
America’s top execs don’t have the time to celebrate. They’re too busy waging a corporate holy war against what may be the most promising check yet on executive pay excess, a Dodd-Frank Act provision that mandates the disclosure of the pay gap between CEOs and workers.
Executives at private companies flush with federal contracts are getting rich off America’s tax dollars — at the expense of their low-wage workers. But these tables can turn. An insightful report just released by the New York think tank Demos explains just how.
The long-delayed disclosure rule from the Securities and Exchange Commission on CEO-worker pay turned out last week to be surprisingly strong. The new rule, once finally adopted, will require corporations to annually reveal the ratio between what they pay their top execs and median workers.
House Republicans, with help from some Wall Street-friendly Democrats, are rushing to repeal the most promising Dodd-Frank Act check on excessive executive pay. Their rationale? Expecting corporations to calculate how much they pay their most typical workers would impose a burden too heavy for corporations to bear.
America’s top corporate executives love lecturing the rest of us about ‘fiscal responsibility.’ They want us to expect less from government. But they expect more, and a new report on the chief executives campaigning to “fix the debt” shows exactly how they’re getting it.