The world’s most ridiculously named law enforcement organization — the Bureau of Alcohol Tobacco and Firearms — is only one of many federal agencies participating in the crackdown on medical marijuana centers, something that many Barack Obama supporters couldn’t have imagined happening when they elected him. More here.
Here’s an update on a news story you’ve probably seen before in some form. The repetition of it doesn’t make it any less galling or disgraceful. From ThinkProgress:
Compensation for chief executives at American companies grew 15 percent in 2011 after a 28 percent rise in 2010, part of a larger trend that has seen CEO pay skyrocket over the last three decades. Workers, on the other hand, have been left behind.
Since 1978, CEO pay at American firms has risen 725 percent, more than 127 times faster than worker pay over the same time period, according to new data from the Economic Policy Institute:
From 1978 to 2011, CEO compensation increased more than 725 percent, a rise substantially greater than stock market growth and the painfully slow 5.7 percent growth in worker compensation over the same period.
In 1978, CEOs took home 26.5 times more than the average worker. They now make roughly 206 times more than workers, EPI found. The pay isn’t always tied to the performance of their businesses — as ThinkProgress has noted, CEOs at companies like Bank of America often pocket huge pay increases even as the company’s stock price plummets and jobs are cut.
Workers’ wages aren’t tied to productivity either. Despite substantial gains in productivity since the 1970s, worker pay has remained flat. According to Labor Department data cited by the Huffington Post, inflation-adjusted wages fell 2 percent in 2011…
I always liked Jamie Moyer, but now I respect him even more after reading this.
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Happy to see internships finally coming under the microscope.