Poor Fran Horowitz. The CEO of Abercrombie & Fitch was paid just over $10 million dollars last year -- $10.262 million, to be precise – but that was less than the median CEO pay for all Fortune 500 execs in 2017, which was just a smidge under $14 million -- $13.94 million – to be exact. Here’s the thing, though. Median CEO pay for a Fortune 500 exec was 361 times the median worker’s pay, but for folks like Fran in the retail trade, it was a staggering 791 to 1, thanks to so many low-paid overseas workers, such as those making clothes in Bangladesh or cheap cellphones in China. These figures are from the 20th annual Executive Paywatch report, released earlier this week by the AFL-CIO, which plans to use these obscenely high ratios of CEO-to-worker pay as part of its economic message in this year’s political campaign. The report is available at aflcio.org On today’s labor calendar, tune in to Arise at 9 this morning, when my guests will be Brandon Weber – discussing his new book "Class War, USA" and VoteVets’ Will Fischer on the push to privatize the Veterans Administration. Then at noon there’s a free screening of “Heather Booth: Changing the World” at the AFL-CIO. Heather will be on hand, and there will also be a tribute to her husband, Paul Booth who died earlier this year. Complete details at dclabor.org, click on Calendar. Here’s today's labor history, On this date in 1932, thousands of unemployed World War I veterans arrived in Washington, D.C. to demand early payment of a bonus they desperately needed in the depths of the Great Depression. They built a shantytown near the U.S. Capitol but were burned out by U.S. troops after two months. Today’s labor quote is from the Washington Evening Star, writing about the Bonus Army vets. The Washington Evening Star, which said: “These men wrote a new chapter on patriotism of which their countrymen could be proud.” Union City Radio is supported by UnionPlus, which provides unique products and discounts for working families. Check them out at unionplus.org!
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