In 2012, McDonald's two CEOs took home 2,048 times the average fast food worker’s earnings for the year.
It's destabilizing the entire economy, as workers and their families are feeling the crunch every time they go grocery shopping or pay a phone bill.
McDonald’s has even admitted that income inequality threatens its business -- yet the Board of Directors keeps overpaying executives.
Right now, mutual funds Vanguard, Fidelity and iShares are preparing to ratify the vast inequality between CEO pay and worker pay. But if enough of us come together as investors and customers, we can make sure mutual funds vote against CEO pay and pave the way for a just fast food industry.
Workers at McDonald's struggle to make ends meet with the meagre wages they earn. They can barely pay for food and rent, and can't even imagine affording to buy a house -- and their wages are routinely stolen by management.
In a historic move, fast food workers in 150 cities all over the world will be striking on May 15th for a fair wage, demanding McDonald's treat them fairly across borders. If we prevent mutual funds from voting for massive CEO pay, we could join workers in their fight for a just wage and end pay inequality in the fast food industry.
This shareholder season we are successfully mobilizing concerned investors and consumers to hold corporations accountable. Mutual funds Vanguard, Fidelity and iShares hold many of our investments, but they think we aren’t watching while they vote along with management. In just a few weeks we have:
Gathered thousands of signatures to put pressure on Kellogg’s to report on human rights abuses in its supply chain;
Flooded Vanguard, Fidelity and iShares’ Facebook walls to vote for Duke Energy to come clean on political contribution;
Called mutual funds to ask they vote against CEO pay at Domino’s, as a result the votes went from 6% to 24%.
This is the perfect time to strike against wage inequality -- together we can and have made a difference.
For more information:
McDonald's workers sue for wage theft, CNN Money, March 14 2014.
Fast food failure: How CEO-to-worker pay disparity undermines the industry and the overall economy, Demos, April 22 2014
Please vote against approval of management pay at McDonald's Inc. AGM, CtW Investments, May 5 2014