He was CEO of the hamburger behemoth, McDonald's, pulling down a hefty $8.8 million in pay. Last year, though, Skinner retired, and, rather than getting a gold watch, he was given a load of gold — so large that even a Brink's armored truck would have been too small to haul it all away. His salary of $753,000 was the least of it.
The Big Mac chain also served up $1.7 million to the chief in stock and $3 million in option awards. Then it slathered on another $10.2 million in retirement pay. All that was topped by a super-rich dessert: $11.6 million in "incentive pay."
What? Why does a guy with millions already on his food tray need any incentive to do his job? Maybe because Skinner found it hard to stomach the biggest part of his job, which was to pay poverty wages to McDonald's workers, shove thousands of them onto food stamps and other programs paid for by taxpayers, and lobby aggressively to prevent any increases in the minimum wage or any tax hikes on uber-rich elites like him.
It's dirty work, but Skinner did it, finally skipping away with a 2012 pay package totaling $27.7 million. Yet, in the phantasmagoric plutocracy of CorporateLand, too much is not enough. Last year, for the first time ever, the 10 highest-paid CEOs in America hauled in at least $100 million each, even as the great majority of workaday families have lost income.
This gaping (and ever-widening) inequality is the greatest threat to our society's cohesion. Too few people now control an unconscionable and untenable share of America's money and power, using it to grab more of both for themselves. They can build a $100-million wall, but it won't be high enough to hide their greed from the rest of us.
But there's an added dimension to this inequality that you might find especially interesting: Not only are low-wage corporations overly generous to their top dogs, but so are you and I.
For example, I'm sure you'll be as delighted as I am to know that we — all of us taxpayers together — contribute day-in and day-out to the very big global cause of Supersizing McDonald's.
The world's largest hamburger chain is a particularly needy charity case, because without your and my generous tax support, the Big Mac bosses in charge would have to pay a living wage to their 860,000-plus American workers. But, thanks to us, the $27 billion-a-year hamburger-flipping flim flammers can get away with paying poverty wages — and then send their workforce to get food stamps, Medicaid, child welfare payments, public housing and other tax-funded poverty benefits. This public subsidy of the Golden Arches adds up to a very golden $1.2 billion a year. What a creative business plan! Who says giant corporations aren't enterprising?
Well, sniff the chain's top executives; we operate on razor-thin profit margins, so we can't afford to throw money at workers. Really? Last year's $5.6 billion in profits doesn't sound thin to me. Also, note that McDonald's more than tripled the pay of its new CEO last year, elevating him from $4.1 million to $13.8 million.
But what really galls its workers (whose low wages and forced part-time schedules mean they average less than $12,000 a year) is that the taxpayer-subsidized profiteer laid out a fat $35 million in October to add a brand new executive jet to its corporate fleet. This one is a "Bombardier 605" with the full package of luxurious amenities, and it cost $2,500 an hour to fly it.
Just flying one hour on the Bombardier cost more than the combined hourly wages of more than 300 McDonald's workers. Remember, you're subsidizing this. Aren't you just "Lovin' it," as the chain's ad slogan puts it? To tell McDonald's CEO that this is immoral, go to OurFuture.org.
Link to original article from Creators.com
Virginia is now being mentioned as a crucial swing state. This Congressional race is certainly one to watch. Perhaps that was why I was so impressed to hear candidate Wayne Powell, (who is challenging incumbent Republican House Majority Leader Eric Cantor for the seat he has held in the 7th District of Virginia since 2001) speak boldly and openly about the environment showdown with Cantor.
Running against incumbent Republican House Majority Leader Eric Cantor in Virginia’s GOP-heavy 7th District is enough to give any Democrat the blues. So Bluegrass legend Dr. Ralph Stanley will headline a two-day campaign swing for Powell next week.
Dream on. But Democratic long shot Wayne Powell might put a few dents in the House majority leader's armor. That Powell and Zerban were in LA raising money for what seemed like increasingly less quixotic quests—Powell is the first challenger Cantor has agreed to debate in 10 years, and Zerban's internal polling in September put him within single digits of Ryan—could underscore America's waning infatuation with tea-party-style politics.
Perhaps you should give it a look, post-mortem. After all, this is the first debate Eric Cantor has agreed to in TEN YEARS.
A top aide to House Majority Leader Eric Cantor said the Republican will not accept a challenge from Chesterfield County’s Democratic Party to meet its own candidate, Wayne Powell, in a free public forum before the Nov. 6 elections.
Eric Cantor is not particularly popular in his Republican-leaning district. His personal popularity is 37% favorable, 31% unfavorable. Strongly unfavorable views outnumber strongly favorable ones, 25%- 21%. Cantor’s “re-elect” number is weak: 41% want to re-elect Cantor, while 43% want to replace him.
Democratic 7th District congressional candidate Wayne Powell is taking his campaign to unseat longterm incumbent Republican Eric Cantor right into the living rooms of central Virginia Republicans. The ad will run district-wide approximately once an hour on Fox News for the entire Convention. The ad buy is indicative of Powell’s strategy of reaching out to all voters regardless of their political affiliation.
A Richmond native and attorney like his opponent, Powell is otherwise very different from 49-year-old Cantor, Majority Leader in the U.S. House since 2011, and Culpeper County’s congressional representative since 2000.
Cantor’s name came up a lot during Thursday’s “Open Town Hall Meeting” hosted by Powell, who was articulate and well received by local constituents in attendance.
House Majority Leader Eric Cantor, R-7th, will debate Democratic challenger Wayne Powell on Friday, Sept. 28.
Cantor, who declined to debate Democratic challenger Rick Waugh in 2010, has not debated a Democrat in a general election since 2002, when he squared off with former Georgia congressman and "Dukes of Hazzard" star Ben L. "Cooter" Jones.
It takes courage to look at a roomful of Democrats and confess that you were a consultant on John Edwards’ presidential campaign.
But that is exactly what Dave “Mudcat” Saunders did at the June 6 Chesterfield Democratic Committee meeting. Saunders just put it right out there while telling members how he thinks Wayne Powell can beat 7th District Congressman Eric Cantor.
Wayne Powell, Veteran, Small Business Owner and Local Attorney Is the Democratic Nominee to Oppose Eric Cantor. Says Cantor is “epitome of what is wrong in Washington…a career political operator who is the poster child for Washington gridlock and dysfunction”
“We take care of our own.” That was the major theme of Wayne Powell’s speech Friday at the Raven’s Nest in Culpeper.
Powell is a Democratic candidate for the 7th District, the seat currently held by House Majority Leader Eric I. Cantor.
For Wayne Powell, Virginia’s 7th Congressional District “isn’t personal, it’s Cantor.”
Powell, 62, is challenging Republican incumbent Eric Cantor of Henrico County for his seat in the U.S. House of Representatives. Powell is one of the three candidates running for the spot on the Democratic ballot this fall.
Wayne Powell wants to be the Democratic Party nominee to challenge House Majority Leader Rep. Eric I. Cantor, R-Henrico, for the 7th District seat in the House of Representatives in November.
Earlier this evening I spoke with Wayne Powell, one of three 7th Congressional District Democrats seeking the Democratic Party's nomination to face off against Eric Cantor this November. Powell told me that when he heard what had happened at Virginia's Capitol Square, he hurried downtown to offer his legal services to the protesters that had been arrested.
E. Wayne Powell, candidate for the Democratic nomination against Eric cantor in the Seventh Congressional District, today released this statement about the incidents at the Capitol.
E. Wayne Powell, a candidate for the Democratic nomination to take on Eric Cantor in Virginia's 7th Congressional District, has had a really amazing week. It all started last Thursday when Powell received the endorsement of the Progressive Democrats of America's chapter in Virginia's 7th CD. Powell's education and experience—especially his service in the military—make him exceptionally well equipped to face Cantor.
On October 13th members of the PDA 7th District Chapter endorsed candidate E. Wayne Powell.
Occasionally I take a long weekend. It’s a chance to take a break from the profession, and the campaign. Last weekend I travelled to New York City. What started as a getaway ended in an exhilarating glimpse of democracy in action.
My name is Wayne Powell, and I'm a Democrat running for Congress in Virginia's 7th Congressional District to replace Eric Cantor. Americans need good jobs now. Let's face it, as a nation we tend to define ourselves by what we do. I am an attorney and a retired military officer. When you deny Americans an opportunity to do meaningful work and contribute to their community by providing services, you are attacking a key part of their individual identities.
On Friday, September 12th more than 150 activists will go to DC and Demand that their Senators and Representatives support removing the ratification deadline from the ERA (SJ Res 15 and HJ Res 113)
VA-07 E. Wayne Powellhttp://www.powellforva.com