Help Stop Outrageous CEO Pay Packages!

Corporate executive compensation in the United States is off the charts, but in the airline industry, the abuse is at its worst.  The shared sacrifices of flight attendants and other aviation workers have returned many airlines back on the road toward financial health. Now these same airlines are providing their top executives with generous compensation and retirement packages, bankrolled by our reduced wages and benefits.  It is unconscionable that the Board of Directors of these airlines turn their backs on the workers while lavishing generous compensation schemes on the executives. 

Legislation has been introduced in the United States Congress to address this disturbing trend.  The Shareholder Vote on Executive Compensation, S. 1181, introduced by Senator Barack Obama (IL) would allow shareholders of public companies to approve or disapprove of a company's executive compensation plans, without setting any limits on pay.  This bill would require public companies to include in their annual proxies a nonbinding advisory shareholder vote on executive compensation practices.  It also would require a nonbinding advisory vote if the company awards a new golden parachute package while simultaneously negotiating the sale or purchase of the company. 

The Shareholder Vote on Executive Compensation Act overwhelmingly passed the House of Representatives by a 269-134 vote on April 20, 2007.  Now it is time to urge the United States Senate to action on this bill.

This legislation is the first step towards achieving a measure of accountability and addressing the growing pay disparity between workers and executives.  It is time to say "Enough is Enough" and help put and end to the exorbitant pay schemes that corporations award their executives. 

Take Action Now! Tell your Senators to cosponsor the Shareholder Vote on Executive Compensation