Needs of the Many

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Obama Should Regulate The Pay Of Union Bosses As Well

Posted by Casey on June 11, 2009

He’s been dared, but will he be consistent in his power grab to control corporate compensation?

clipped from www.washingtontimes.com

Business groups are daring President Barack Obama to impose pay caps on labor union bosses in light of indications the White House will limit how much corporate executives can be paid.

President Obama has argued “corporate greed” has contributed to the economic crisis and appointed a “compensation czar” to review executive pay for several companies receiving taxpayer bailout money Wednesday. Now White House officials have told the press legislation should be enacted to limit executive pay in private companies through nonbinding shareholders votes.

The Workforce Fairness Institute, which has lobbied heavily for the defeat of the Employee Free Choice Act to ease organization rules for labor unions, points to a 2008 Hudson Institute study that suggests unions have short-changed benefits for their rank and file in favor or generous executive compensation packages and to pad the coffers of their political allies, who are mostly Democrats.
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