New AFL-CIO PayWatch Website to Expose Rigged CEO Pay System
Thursday, April 5, 2007
Media Advisory
for April
5
Contacts: Steve
Smith/Dana Ford (202)
637-5018
New AFL-CIO PayWatch Website to
Expose Rigged
CEO Pay System and Give Working Families
the Tools to Fight
Back
www.paywatch.org
The AFL-CIO will
hold a
teleconference on Thursday, April 5 at
12 Noon EDT to launch
its new 2007 Executive PayWatch website
(www.paywatch.org) and unveil a
comprehensive database
of brand new CEO pay figures. These
totals will include stock and option
awards
not required in the total
compensation number under new federal pay
disclosure
rules.
The latest version of the popular
site will examine how certain
CEOs rig the rules of the game to ensure a
"perfect payday." Visitors to
PayWatch who are fed up can take action
and demand that Congress and the
Securities and Exchange Commission give
them the tools to fight
back.
Richard Trumka,
Secretary-Treasurer of the
AFL-CIO, will review the new CEO
compensation data and detail how the AFL-CIO
plans to build on past success to demand
further reform.
Six new
Executive PayWatch case studies will shed light
on the ongoing options
backdating scandal at Apple and other
companies, and detail how ex- CEOs like
Bob Nardelli (Home Depot) and Hank McKinnell
(Pfizer) received enormous exit
packages despite poor performance.
The
AFL-CIO is a federation of 54
national and international labor unions
representing 10 million working women
and
men.
WHO:
Richard Trumka,
Secretary-Treasurer,
AFL-CIO
Dan
Pedrotty, Director of
the Office of Investment,
AFL-CIO
WHAT:
Telephone press conference on
AFL-CIO's 2007 Executive PayWatch website
WHEN:
Thursday, April 5, 12 Noon
ET
HOW:
Call (202) 637-5018 for phone
access to the press conference and
advance
access
to the new 2007 version of Executive
PayWatch