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Today in Labor History

May 3, 1930: President Herbert Hoover declares that the stock market crash six months earlier was just a "temporary setback" and the economy would soon bounce back. In fact, the Great Depression was to continue and worsen for several more years.

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Teamsters Praise SEC for Proposed Rule on CEO Pay
Posted On: Sep 19, 2013
Sept. 19, 2013 | ECONOMIC INEQUALITY | The Union today applauded the Securities and Exchange Commission (SEC) announcement of a new proposed rule requiring corporations to disclose the ratio between chief executive and worker pay…."CEO pay keeps going up and worker pay keeps going down," said Teamsters General President Jim Hoffa. "This is a dirty secret that corporate CEOs don't want exposed, and the SEC did the right thing by proposing this rule." Full IBT statement here. Related: Ratio of CEO pay to average worker pay rose from 195-to-1 in 1993 to 354-to-1. Full story here.

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Updated: May. 02 (20:43)

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