
In noting that the Federal Reserve has U.S. companies sitting on a $1.9T mountain of cash and using hardly any of it to create jobs, the AFL-CIO charges CEOs with hoarding cash to fund their rich paydays.
Those companies will soon face the PR music as provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act provide new disclosure measures such as the ratio of CEO-to-worker pay.
Of course, the disclosure requirments must survive a savage attack by Wall Street lobbyists to gut them.
In a savvy PR move, AFL-CIO boss Richard Trumka released an interesting set of ratios comparing the number of workers that could be supported by the average $11.4M CEO pay. The CEO sum is enough to support 252 firefighters, 225 teachers, 213 police officers, 178 nurses and 28 U.S. Presidents.
That puts a human face on the chasm that separates the “have-too-much crowd” from the “have-a-little bunch” that is today’s America.