Today the Teamsters and American workers face a moment of reckoning. The time has come where people must stand up and say enough is enough to companies that seek to take advantage of employees and taxpayers.
This proposal -- like some of the other rules implemented under Dodd-Frank -- will do little to accomplish the desired effect of narrowing the gap between employee compensation and executive compensation. If anything, it may have the opposite effect.
Too many of the nation's major institutional investors -- who manage the life savings of working Americans and who are major shareholders in the big banks -- have been silent and passive in the wake of the crisis.
Three years ago, a provision in the Dodd-Frank financial reform law said the companies themselves have to reveal the difference between worker pay and CEO pay. That reform still hasn't been implemented. And now the CEOs' lobbyists are pressuring House Republicans to repeal it.
An increased congruence between the moral, ethical and legal foundations of corporations, especially in the financial services sector, is essential If they are to be refunded to serve the social purposes and human needs for which they were chartered.
Dear Mr. Dimon: Congratulations on prevailing in the vote to separate the chairman and CEO roles at JPMorgan. I volunteer three problems that are so entrenched, so urgent, and so endemic that only a leader with your capabilities could hope to wrest them into shape for resolution.