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March 22, 2005 | ||||||||||||||||||||||||||||||||
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Union Truth
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| Organizing Institute participants joined L.1023 at the Union, NJ, VZW store |
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"We were very clear that we will never stop until they stop union-busting." (See story at right.) |
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Ivan Seidenberg made $13.1 million in 2004. That includes his annual salary, various bonuses, and perks like personal use of the company plane. On top of that, he was given stock options which he'll be able to cash in for as much as $27.4 million.
Let's look at in terms we can relate to. When Ivan gets his paycheck every two weeks, the amount on the check—just his salary, leaving aside the bonuses and other extras—is $57,693. That's some check.
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Here's how much each of Verizon's top five executives made last year:
|
Executive |
Title |
2004 Compensation |
Potential Value of Stock Options |
2-Week Paycheck (salary only) |
| Ivan Seidenberg | CEO & Chairman |
$13.1 million |
$27.4 million |
$57,693 |
| Larry Babbio | President & Vice Chairman |
$8.0 million |
$13.9 million |
$41,038 |
| Denny Strigl | EVP & CEO of VZ Wireless |
$7.8 million |
$12.4 million |
$36,538 |
| William Barr | EVP & General Counsel |
$4.5 million |
$8.6 million |
$29,770 |
| Doreen Toben | EVP & Chief Financial Officer |
$4.5 million |
$8.3 million |
$28,870 |
The Hawaii Public Utility Commission (PUC) has approved Verizon's proposed sale of its operations in Hawaii, but has imposed stringent conditions that "some observers feared might cause the sale to unravel" according to Communications Daily.
Verizon wants to sell its access lines and Yellow Pages to The Carlyle Group, a private investment firm.
The Hawaiian PUC has taken a strong pro-consumer stand by imposing conditions to keep Carlyle from milking cash out of the company to pay off investors.
- Carlyle must put up more cash to reduce debt
- Carlyle is prohibited from paying dividends to investors until debt is reduced
- No increase in rates allowed until 2009
- A bill credit of $20.70 to every consumer
- Carlyle may not sell off yellow pages without PUC approval
- The PUC retains the right to investigate service quality for 6 months after deal
The IBEW represents the workforce at Verizon Hawaii.
Unlike Denny Strigl and Ivan Seidenberg, management at Cingular respect their employees' rights to make their own decisions about whether to organize their workplaces. Workers are not screened for union sympathies before they're hired. Employees are not subjected to mandatory anti-union presentations. Management doesn't run an internal website distorting the truth about unions. Employees who want to discuss with their co-workers whether or not to unionize aren't subjected to surveillance, intimidation, or retaliatory discipline. Cingular doesn't close down call centers when union talk gets too loud.
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Former AT&T Wireless workers at a Cingular Wireless call center in Jackson, Mississippi, celebrate after filing for union representation with CWA in March 2005. They are the first group of former AT&T Wireless workers to organize with CWA since their company merged with Cingular Wireless. |
Here's how workers at the AT&T Wireless call center in Jackson, MS, described the process:
"We did it. We stood up together for getting a voice in our jobs at Cingular Wireless, and soon we'll have CWA representation like 22,000 other CWA members at Cingular. More than a majority of us signed CWA authorization cards, and we'll have our union when the cards are certified by an independent arbitrator. With CWA, we'll have due process during disciplinary actions and greater job security. We'll also have a pay system that is fairly set and not based on favoritism. Most of all, we will no longer be considered 'at will' employees."
Buy from the Only Union Wireless Company
CWA members and retirees and their families get a 15% discount off Cingular service!
Visit CWA's website for more information or call 877-751-7257.
Discounts for other unions are available through Union Plus or 800-356-9752. |
Web Links in This Issue
Visit Unity@Verizon on the web for more:
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