Bernie Sanders is taking his wage fight directly to Walmart. He’s at the annual shareholders meeting, pushing the company to raise its minimum wage to $15 per hour and proposing it put hourly workers on the retail giant’s board of directors.
Sanders was invited by Cat Davis, a Walmart employee for more than a decade, as her proxy to make the case for a plan that would put hourly associates on the corporate board, which currently includes high-ranking executives from places like McDonald's, and raise its minimum wage to $15 an hour.The Walton family, which controls a little more than half of the company's stock, is the wealthiest in the country.
The legislation would put a halt on stock buybacks for executives at companies who did not -- among other things -- pay a $15 minimum wage to all their employees, including part-timers and independent contractors. The bill would also ban CEOs from compensation that exceeded 150 times the median employee's salary. Walmart CEO Doug McMillon was eligible to earn nearly $24 million last year, more than a thousand times his employees' median total.
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