Unions are all up in arms over executive pay. They even have a web site:
2008 Executive PayWatch
The International Monetary Fund estimates that the financial turmoil set off by the collapse of the mortgage market could total nearly $1 trillion. Yet, chief executive officers of the firms most responsible for causing the crisis collected hundreds of millions of dollars in pay last year. This highlights the need for further reform to protect companies and their investors.
In fact they are so upset about inequality that they decided to have a meeting about how the elites screw the workers:
AFL-CIO Boss on Economy, H2B Visas
While vacationers gather around the pool the newly refurbished Fontainebleau Hotel, inside the conference rooms the AFL-CIO is holding an executive council meeting. Featuring the heads of more than 50 of unions, representing millions of workers, the executive council is discussing the best way to move the economy forward and to advance labors issues.
"We're at a time when our economy is in collapse and working people are suffering as a result of it all," AFL-CIO President John Sweeney told CBS4 News.
Labor played a critical role in President Barack Obama's election and their support remains essential as he tries to pass his economic recovery plans.
Their meeting was held at the Fontainebleau Hotel in Miami, recently refurbished for around a billion dollars. The Fontainebleau features very high priced restaurants (11 of them) and high priced rooms.
These union guys sure know just how the little guy gets by. To show their unity with the workers they stayed at a 4 star hotel instead of a 5 star one. The valet parking is only $32 a night.
