Outten & Golden: Empowering Employees in the Workplace

Posts Tagged ‘executive salaries’

Corporation Pushes Six-Year Pay Freeze On Workers While Making Record Profits, Paying CEO $17 Million

Thursday, July 26th, 2012

Image: Pat GarofaloBack in June, ThinkProgress noted that the manufacturing giant Caterpillar was seeking major concessions during contract negotiations with striking workers, even as it was making billions in profits and giving its CEO a 60 percent pay boost. The New York Times’ Steven Greenhouse added more details today, noting that the company wants to implement a six-year pay freeze and a pension freeze, at a time when it is making record profits:

Despite earning a record $4.9 billion profit last year and projecting even better results for 2012, the company is insisting on a six-year wage freeze and a pension freeze for most of the 780 production workers at its factory here. Caterpillar says it needs to keep its labor costs down to ensure its future competitiveness. […]

Caterpillar, which has significantly raised its executives’ compensation because of its strong profits, defended its demands, saying many unionized workers were paid well above market rates.

“A company that earned a record $4.9 billion in 2011 and $1.586 billion in the first quarter of this year should be willing to help the workers who made those profits for them,” said Timothy O’Brien, president of Machinists Local Lodge 851. “Caterpillar believes in helping the very rich, but what they’re doing would help eliminate the middle class.” Several labor experts told the Times that Caterpillar is a pioneer in tough labor negotiations meant to drive down workers’ wages.

Last year, Caterpillar’s CEO made nearly $17 million in total compensation. At the moment in the U.S., the typical worker would have to work 244 years in order to earn what the average CEO makes in one year.

This blog originally appeared in Think Progress on July 23, 2012. Reprinted with permission.

About the Author: Pat Garofalo is Economic Policy Editor for ThinkProgress.org at the Center for American Progress Action Fund. Pat’s work has also appeared in The Nation, U.S. News & World Report, The Guardian, the Washington Examiner, and In These Times. He has been a guest on MSNBC and Al-Jazeera television, as well as many radio shows. Pat graduated from Brandeis University, where he was the editor-in-chief of The Brandeis Hoot, Brandeis’ community newspaper, and worked for the International Center for Ethics, Justice, and Public Life.

Job Tracker: Outsourcers Can Run, But Now They Can’t Hide

Tuesday, October 12th, 2010

Image: Mike HallIn the past decade, more than 5 million manufacturing jobs and 850,000 information sector jobs have disappeared—many of which have been shipped overseas. This outsourcing is encouraged by faulty trade and tax policies that corporate executives use to boost record-breaking profits and outrageous and obscene executive salaries.

But finding out specific information on specific companies sending American jobs overseas and devastating their communities has been nearly impossible—until today. The AFL-CIO and Working America’s new Job Tracker database lists information on more than 400,000 corporations that have exported jobs overseas, violated health and safety codes or engaged in discriminatory or other illegal practice. (Check it out at http://t.co/qbg7wwm.)

AFL-CIO President Richard Trumka, in a conference call with reporters this morning, said Job Tracker’s searchable by ZIP code and the interactive database gives

everyday people the opportunity to actually see what is happening in their community and shine the light on what corporations are doing. For the first time, working people have one place to see the real impact of the failed policies of the past that gave corporations the ability to ship American jobs overseas.

With this new data as a benchmark, working people will have the ability to separate the economic patriots from the corporate traitors at the ballot box.

Karen Nussbaum, executive director of Working America—the AFL-CIO’s community affiliate— said, “Because of Job Tracker, corporations who have taken advantage of lax trade policies in America and abroad will no longer”

be able to hide behind the veils of bureaucracy. Every night on our neighborhood canvasses, we hear from people who want to know which companies are profiting off the loss of their jobs. Corporations have created a global race to the bottom and working people won’t stand for it.

A recent Wall Street Journal poll shows 83 percent of blue-collar workers say outsourcing of manufacturing jobs is the reason the U.S. economy is struggling and why companies are not hiring. Jobs are the No. 1 issue for working family voters this year, said Trumka.

We must demand that our leaders show that they stand with working families—fighting to create jobs, rejecting unfair trade deals and putting us on a path to make things in America again.

Here’s how Job Tracker works. Simply enter a ZIP code, for example Toledo, Ohio’s 43606. A few clicks of your mouse will find 20 companies—from Ace Packaging Systems to Tecumseh Products—have exported jobs, mostly manufacturing jobs. Another 19 firms have laid off workers because of the impact of trade and 61 companies have made or filed notice to make mass layoffs.

Also, 39 companies had cases involving workers’ rights violations under the National Labor Relations Act, and 1,170 have received health and safety violations under the Occupational Safety and Health Act (OSHA).

Trumka said the Job Tracker provides the kind of information to help working families make their choices at the ballot box Nov. 2 and working families can use to determine who is on the side of working families.

The choice is clear—leaders who will fight to create and keep good jobs here in America, or the corporate traitors who insist on the policies that have rigged the playing field.

Job Tracker information draws on sources, including the U.S. Department of Labor’s Trade Adjustment Assistance records, Worker Adjustment and Retraining Notification (WARN) Act notices, OSHA records and more. The Job Tracker site also enables visitors to use Facebook and Twitter and e-mail to report companies exporting jobs in their communities.

As part of Job Tracker, Working America also is releasing a “white paper,” OUTSOURCED: Sending Jobs Overseas: The Cost to America’s Economy and Working Families, which details how trade policies have outsourced good jobs. Working America will share the results with members of Congress and the economic community as a new analysis on what policies must be passed to turn our economy around.

This article was originally published on AFL-CIO Now Blog.

About The Author: Mike Hall is a former West Virginia newspaper reporter, staff writer for the United Mine Workers Journal and managing editor of the Seafarers Log. He came to the AFL- CIO in 1989 and have written for several federation publications, focusing on legislation and politics, especially grassroots mobilization and workplace safety.

Your Rights Job Survival The Issues Features Resources About This Blog