Join The Discussion

 

Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

read more >

Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

read more >

Compass BBVA names Happel CEO for Fort Worth

BBVA Compass has appointed Brian Happel, most recently the Fort Worth city president, its chief executive officer of Fort Worth.

read more >

Fort Worth minority business receives nationwide grant

Cuevas Distribution Inc., a minority- and woman-owned business in Fort Worth, is one of 20 small businesses nationwide to receive a $150,000 grant from Chase as part of the Mission Main Street program.

read more >

Arlington's Entertainment District moves forward

Arlington is moving closer to developing its Entertainment District north of AT&T Stadium.

read more >

 

CEO pay hits 354 times that of average worker; up from 42 in 1980
WASHINGTON (CNNMoney) -- Chief executives of the nation's largest companies earned an average of $12.3 million in total pay last year -- 354 times more than a typical American worker, according to the AFL-CIO.
The average worker made $34,645 last year, according to the group that represents over 50 trade unions.
Oracle CEO Larry Ellison's $96.1 million pay package topped the list, followed by $54.3 million earned by Credit Acceptance Corp.'s Brett Roberts and Discovery Communications CEO David Zaslav's $50 million, according to the union's pay project.
The one stand out was Apple CEO Timothy Cook, whose pay dropped to $4.2 million from $376 million in 2011, when his compensation package got a boost from long-term stock awards.
The dip in Cook's pay was enough to lower the overall average for CEOs of top companies by 5% from 2011.
The discrepancy in pay between CEOs and the average worker has skyrocketed over the years, peaking in 2000, when the gap was 525 times. In 1980, CEO pay was 42 times that of the average worker.
The AFL-CIO each year highlights the pay disparity between workers and chief executives from companies that are part of Standard & Poor's 500 stock index.
Richard Trumka, AFL-CIO president, said he hopes the project will remind Washington leaders that most workers "continue to struggle."
"They struggle every day to make ends meet, their wages are stagnant, their companies are trying to take away their health care and pensions, and they're angry," Trumka said. "And very few them know what's happening with CEO (pay)."
The union wants regulators to enforce an outstanding rule from Wall Street reforms for publicly traded companies to reveal CEO pay compared to their average employees. The U.S. Securities and Exchange Commission has delayed efforts to craft that rule, in part because of heavy lobbying by companies.
The labor group unveiled an updated website database on Monday compiled from 327 companies based on SEC filings. The site will post CEO pay for all 500 companies as the data is made public.
Trumka himself makes $302,000 in total compensation, according to federal records, or 8.7 times the average worker.
A request for comment to The Business Roundtable, a business lobbying group for CEOs, wasn't returned immediately on Monday.

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?