Executive compensation

National Mobilization Continues to Demand End to Multi-Billion Dollar Bonuses at Bailed Out Banks and the Too Big To Fail Doctrine

November 16, 2009 -- Washington, D.C.--Today, hundreds of workers, clergy members, community leaders, and other taxpayers converged on the Washington, D.C. headquarters of Goldman Sachs to demand the bank put an end to multi-billion dollar bonuses, reject the Too Big To Fail Doctrine, and use their anticipated $23 billion bonus pool to help families facing foreclosure.

Taxpayers also called on Congress to take immediate action on real financial reform.    » read more »

Obama Administration Special Pay Master Responds to Requests by Anna Burger, 10,000 Taxpayers to Take Action on Ken Lewis Pay

Sets Precedent for Protecting Americans from CEO Pay Abuse -- Washington, D.C.--The Service Employees International Union (SEIU) released a statement from Secretary-Treasurer Anna Burger following news that Ken Lewis will not be receiving his 2009 compensation and bonus pay in light of his multimillion-dollar retirement package.    » read more »

Obama Administration Special Pay Master Responds to Requests by Anna Burger, 10,000 Taxpayers to Take Action on Ken Lewis Pay

Sets Precedent for Protecting Americans from CEO Pay Abuse -- Washington, D.C.--The Service Employees International Union (SEIU) released a statement from Secretary-Treasurer Anna Burger following news that Ken Lewis will not be receiving his 2009 compensation and bonus pay in light of his multimillion-dollar retirement package.    » read more »

October 8, 2009 -- Washington, D.C. -- Today, the Service Employees International Union (SEIU) sent a letter to Obama administration pay czar Kenneth Feinberg requesting action to prevent outgoing Bank of America CEO Ken Lewis and executives at other banks receiving taxpayer funds from receiving multimillion-dollar retirement, severance, or compensation packages.    » read more »

Lincoln provision cuts level of health insurance exec compensation subsidized by taxpayers

October 2, 2009 -- Washington – U.S. Senator Blanche Lincoln today announced that the Senate Finance Committee has approved her amendment to reduce taxpayer subsidies to insurance companies for extravagant executive benefits.    » read more »

Senator Chris Dodd Statement on Obama Administration's Executive Compensation Proposals

June 10, 2009 -- Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today released the following statement regarding the Obama Administration’s proposals to curb executive compensation:    » read more »

Website Includes Latest CEO Pay Data, Bailout Bonuses

April 14, 2009 -- (Washington) - Retention bonuses. Golden coffins. Turbo-charged pension plans. Hefty severance packages. Lavish “executive physicals.” These are some of the outrageous CEO pay practices highlighted in the AFL-CIO’s 2009 Executive PayWatch website launched today at www.paywatch.org.

Despite the worst economic slump in decades, companies continue to heap millions of dollars in pay, bonuses and perquisites on CEO for poor performance, according to the latest data for 2008. The 2009 PayWatch site highlights 10 of these worst CEO pay practices through case studies and includes a comprehensive database of new CEO pay figures.    » read more »

February 4th, 2009 -- "Shameful." That was the President's response last week to the news that Wall Street had doled out $18 billion in bonuses, even after the government had propped up many of the Street's most prominent firms.

Today, he and Treasury Secretary Tim Geithner took action by imposing new restrictions on executive compensation at firms taking money from the government.

President Barack Obama delivers remarks on new executive compensation restrictions    » read more »

February 4, 2009 -- Today, the Treasury Department is issuing a new set of guidelines on executive pay for financial institutions that are receiving government assistance to address our current financial crisis. These measures are designed to ensure that public funds are directed only toward the public interest in strengthening our economy by stabilizing our financial system and not toward inappropriate private gain.

The measures announced today are designed to ensure that the compensation of top executives in the financial community is closely aligned not only with the interests of shareholders and financial institutions, but with the taxpayers providing assistance to those companies.    » read more »

Website Includes Brand New CEO Pay Numbers

April 14, 2008 -- Compensation schemes for top executives at financial companies helped create the sub-prime mortgage crisis, the new Executive PayWatch website (www.paywatch.org) launched today by the AFL-CIO reveals. The 2008 PayWatch site also unveils a comprehensive database of brand new CEO pay figures.

Screenshot of the AFL-CIO Paywatch website    » read more »

Legislation would boost transparency, spur public debate over rising executive compensation

May 30, 2007 -- WASHINGTON, DC -- U.S. Senator Barack Obama (D-IL) today sent a letter to the Chairman and Ranking Member of the Senate Banking Committee to request that they hold a hearing on the Shareholder Vote on Executive Compensation Act, a bill he sponsored that would give shareholders an advisory vote on executive compensation and spur both increased transparency and public debate over pay packages. The legislation passed the House by a wide margin in April.    » read more »