08-21-2017  1:33 am      •     
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NEWS BRIEFS

'Chitty Chitty Bang Bang' Screens at New Performing Arts Center, Federal Way

Free screening follows the day after official ribbon cutting of the arts center ...

Join a Book Club at Your Neighborhood Library

At North Portland Library, Pageturners Black Voices focuses on books written by and about African and African American authors ...

Meeting of the NE Community Development Oversight Committee

The fourth meeting will be held on Wednesday, Aug. 23 ...

Health Share of Oregon Invests $3M in Community Health Workers

Investment will improve health care access, quality and outcomes for Oregonians who face barriers to care ...

U.S. & WORLD NEWS

OPINION

SEIU’s President: No Place for White Supremacists in the White House

Mary Kay Henry makes following statement on Trump’s remarks after violence in Charlottesville ...

It’s Time to Show “Middle Neighborhoods” Love, Before It’s too Late

Middle Neighborhoods, School Rehabilitation and Food Insecurity are key action items for the policy agenda of the CBC. ...

Despite Unequal Treatment, Black Women Will Rise

NNPA Newswire Columnist Julianne Malveaux talks about Black Women’s Equal Pay Day ...

PCC Cascade President on Free Tuition Program

Any student who qualifies for the Oregon Promise can attend most in-state community colleges tuition-free ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT




money in handU.S. companies will have to disclose their CEO's pay in comparison with that of their workers, in a newly proposed rule.

Wall Street's top regulator, the Securities and Exchange Commission, voted 3-to-2 at a meeting Wednesday to propose the rule that would force publicly traded companies to disclose a ratio that compares CEO pay with that of salaries of those who work for them.

The rule is a result of the Dodd-Frank Wall Street reforms of 2010. The rule has been slow to be adopted, partly because it lacked a deadline and big companies lobbied against it.

Companies have said that a pay ratio is difficult to create. Nearly two dozen groups and associations -- including those representing the oil, retail and financial services industries -- sent a letter to the SEC in 2012 complaining about "significant hurdles and burdens " of collecting such information. They also say it's not useful to investors.

The SEC decided to make things a little easier by saying the companies don't have to collect all salaries, they just need to take a statistical sample of workers in the middle of the pay scale.

That method would "provide companies significant flexibility in complying with the disclosure requirement," said SEC Chairman Mary Jo White at the meeting.

Unions have been pushing for the rule, which would highlight inequality of pay at U.S. companies between rank-and-file workers and those at the top.

Chief executives of the nation's largest companies earned an average of $12.3 million in total pay last year -- 354 times more than a typical American worker, according to the AFL-CIO, that represents over 50 trade unions.

"This pay data is important to investors because it shines a light on the company pay ladder for all employees, not just the pay of top executives that is already disclosed under current rules," said AFL-CIO President Richard Trumka, in a statement.

The rule isn't likely to take effect until next year, or even later. Companies and others get at least 90 days, possibly more to comment on the rule and make suggestions. Later, the SEC will review the comments and make changes to the rule before making a final decision.

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