Center for Working Families

The real Olympic battle

August 2, 2012

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Verizon CEO Lowell McAdam’s compensation just increased to $23.1 million/year. That’s 415 times the income of the typical New York State family.

McAdam is not alone. In the past four decades, pay for CEOs has skyrocketed while pay for workers has barely budged.


Data in this graph are based on an analysis by the Economic Policy Institute

It didn’t happen by accident. Government policies that relaxed regulations over corporations and weakened workers’ rights played a key role.

Now we’re really seeing the consequences. Verizon is trying to offshore jobs, cut employee retirement benefits and raise their healthcare costs.

The company is also teaming up with other telecom giants to create a monopoly that can easily and swiftly jack up prices for consumers.

If Verizon wins, the bar graph above will start looking even scarier.  But if we stop them, it will be a victory for the 99 percent.

Call your elected officials and tell them to protect New York workers and consumers by saying “no” to Verizon’s monopoly deal:

  •     Governor Cuomo at 518-473-5442
  •     Senator Schumer at 212-486-4430
  •     Senator Gillibrand at 212-688-6262

 

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© 2012 Center for Working Families

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The Center for Working Families creates and implements innovative policy ideas to improve the lives of working and low income New Yorkers.

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