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News :: Labor |
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Always Low Assets: Shareholders File Challenge to Wal-Mart's Option Gap |
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by Betsy Leondar-Wright
(No verified email address) |
17 Nov 2005
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PRESS RELEASE FROM RESPONSIBLE WEALTH
For immediate release Nov. 16, 2005
Contact: Betsy Leondar-Wright, (617) 423-2148 x113
Boston Wal-Mart shareholders today filed a resolution with the company
requesting public disclosure of who gets Wal-Mart stock options, broken down
by race and gender. |
 ALWAYS LOW ASSETS: SHAREHOLDERS FILE CHALLENGE TO WAL-MART'S OPTIONS GAP |
PRESS RELEASE FROM RESPONSIBLE WEALTH
For immediate release Nov. 16, 2005
Contact: Betsy Leondar-Wright, (617) 423-2148 x113
ALWAYS LOW ASSETS:
SHAREHOLDERS FILE CHALLENGE TO WAL-MART'S OPTIONS GAP
Boston Wal-Mart shareholders today filed a resolution with the company
requesting public disclosure of who gets Wal-Mart stock options, broken down
by race and gender.
In each of the last three years, between 4.8% and 13% of all Wal-Mart stock
options went to the top five officers, who make up 0.0003 percent of the
company's employees. All five are white men.
The filing of the resolution was timed to coincide with a national Wal-Mart
Week of Higher Expectations.
In addition to Northstar Asset Management clients and other members of
Responsible Wealth, the resolution was filed by Martha Burk, the director of
the National Council of Women¹s Organizations¹ Corporate Accountability
Project. Dr. Burk is best known for leading the effort to open the Augusta
National Golf Club to women.
A second-generation Wal-Mart shareholder, Dr. Burk presented a similar
resolution at last April¹s annual meeting. She said today, ³I am still
concerned that the wealth creation opportunities afforded by the company are
disproportionately going to white men. The company needs to disclose the
data."
Last year¹s resolution won 15% of the vote, an unusually high number given
how much of the stock is owned by Walton family members and Wal-Mart¹s top
management.
Margaret Covert, Shareholder Action Coordinator of NorthStar Asset
Management, said, ³Wal-Mart¹s emphasis on ŒAlways Low Prices¹ comes at a
cost to employees working for always low wages. The tremendous profits that
have enriched the Walton family and other major shareholders, if shared more
broadly with all Wal-Mart workers, could mean health coverage and
homeownership for those now lacking them.²
Added Scott Klinger, co-director of Responsible Wealth, ³In the last few
weeks Wal-Mart has committed to greater transparency. This resolution is an
invitation to uphold that commitment. Shareholders deserve to know which
employees are being rewarded with stock options, and whether their company
is contributing to the growing U.S. racial wealth divide.²
A court decision is expected in coming months on Wal-Mart¹s appeal of the
formation of a class for the largest gender discrimination lawsuit in
history, filed by current and former women employees.
The text of the resolution can be seen online at
http://www.responsiblewealth.org/shareholder/2006/WalMart.html
Responsible Wealth (http://www.responsiblewealth.org) is a national network
of affluent Americans who are concerned about deepening economic inequality
and advocate widespread prosperity. |
This work is in the public domain |
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Who gives a shit? |
by Leon Trotsky
(No verified email address) |
17 Nov 2005
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These ideologially broke foundation pimps try to appeal to the capitalists to be nicer Ha! good luck.
There's no such thing as responsible wealth. It's all blood money, fuck them all. |
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Re: Who Gives A Shit? |
by mikey
(No verified email address) |
17 Nov 2005
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I give a shit. I'm tired of radicals who refuse to acknowledge the good that comes out of reform and working within the system. I believe in radical change but the whole world is not gonna get turned upside down overnight by one hundred commies with newspapers. The fact of that matter is reform makes changes right now and that matters for the people who are getting fucked over. Calling anything short of complete revolution "ideologially broke" sounds very much like the statement that could potentially be made by someone who either A. Takes radical views because they let him/her/heir feel superior to others or B. Someone who isn't affected on a daily basis by the structural violence inherent in american life. In short tearing people who are actually achieving things does not accomplish anything and is a really awful way to build a movement, which is what you need to do if you want to be taken seriously. |
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Re: Always Low Assets: Shareholders File Challenge to Wal-Mart's Option Gap |
by Double Dare
(No verified email address) |
19 Nov 2005
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Trotsky's right. All money is blood money. But I dare him to put his money where his mouth is and renounce all money. I mean if he can't do that, then he is perhaps being a little hypocritical. As long as you participate in the system, you are a part of it. Either renounce it all together, or you must work within it, to some extent.
Burn your pay check next friday in a symbolic sign of dissent to the domination of banks, or just shut up with your fasion conscious self righteous bullshit. |
