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June 3, 2016 | NORTHWEST LABOR PRESS
Oregon’s CEOs paid 327
times average worker
2016 Executive PayWatch highlights corporate pay inequality
CEO pay for major companies
in Oregon continues to soar as
income inequality and outsourc-
ing of good-paying American
jobs increases.
Outsourcing has become a
hot presidential election topic,
with candidates calling out cor-
porations who say they need to
save money by sending jobs
overseas. Meanwhile, according
to the new AFL-CIO Executive
PayWatch, the average Oregon
CEO of a company listed in the
S&P 500 made over $13 million
per year in 2015—327 times
more money than the average
worker. The average Washing-
ton CEO made more than $10
million per year—190 times
Jordan Cove
energy project
in Coos Bay
gets rehearing
The Jordan Cove Energy Project
was granted a rehearing May 9
by the Federal Energy Regula-
tory Commission. Earlier this
year, FERC denied the applica-
tion for the construction and op-
eration of a liquefied natural gas
(LNG) export terminal and nat-
ural gas pipeline in Coos Bay,
Oregon.
The $6 billion privately-
funded project is supported by
the Oregon State Building and
Construction Trades Council
and the Oregon AFL-CIO. Con-
struction unions have a project
labor agreement (PLA) in place.
Construction will span 42
months, with an average work-
force of 900, and a peak work-
force of approximately 2,100.
FERC is allowing the project
more time to submit new infor-
mation regarding LNG and
pipeline customer agreements.
To date, the project has secured
customer interest in 50 percent
of the LNG storage capacity and
77 percent of the pipeline capac-
ity, which includes an agree-
ment with JERA, the world’s
largest LNG buyer based in
Japan.
For more information about
the Jordan Cove LNG project,
go to www.jordancovelng.com.
more money than the average
rank-and-file worker.
The Executive PayWatch
website, a searchable online
database tracking CEO pay,
showed that in 2015, the aver-
age production and nonsupervi-
sory Oregon worker earned ap-
proximately $41,601 per year, a
wage that when adjusted for in-
flation, has remained stagnant
for 50 years.
“These numbers demonstrate
the unacceptable levels of in-
come inequality that exist here
in Oregon and around the coun-
try,” said Oregon AFL-CIO
President Tom Chamberlain.
“This is a disgrace and we must
stop Wall Street CEOs from
continuing to profit on the backs
of working people. We need to
focus on raising wages for all,
creating and keeping good jobs
here and reversing these unfair
and unjust trends.”
To find out more, go online to
http://www.aflcio.org/Corpo-
rate-Watch/Paywatch-2016.
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