According to the company’s latest figures, Dollar General’s new CEO is making 702 times the pay of the company’s median employee.
a picket line in solidarity with striking auto workers at a major American corporation. An amazing sight. What could President Biden do for an encore? He could stand before an outlet of a major American retailer — Dollar General — with a simple two-word placard.Americans — thanks to the solidarity of UAW members and the media and political attention that this solidarity has captured — now know a good bit about the pressures auto workers face.
Dollar General doesn’t just skimp on wages. The company skimps on workers as well. Entire stores go hours every day with only one employee responsible for maintaining and servicing an average 7,500 square feet of retail space. CEO Vasos, for his part, remained on the Dollar General executive payroll after exiting the company’s top slot last fall, as a senior advisor. He haswhat the top execs at Dollar General have actually been making. Executive pay reporting standards focus on the value of stock awards calculatedof any awarded stock, not the date an executive actually cashes in on the stock’s market value.
“Dollar General’s practices have an immense impact on communities across the country,” note advocacy attorneys Sara Imperiale and Margaret Brown, “especially communities of color and low-income communities.” And, of course, Dollar General spends as little as possible on wages. One of every four Dollar General employees makes less than $10 an hour, over half under $12,study of 2021 survey data. Even notoriously low-wage Walmart was paying workers, that same year, at least $12 an hour.
Top execs at Dollar General have profited quite amply from all these trendlines. Todd Vasos became the company’s CEO midway through 2015. Over the next six years, analysts at EquilarAs You Sow executive pay researcher Rosanna Weaver, the company reported a CEO-median employee pay ratio of 935 to 1, with Vasos collecting $16.6 million and the “median” employee a mere $17,773.
Simply put, thanks to this shrinking share, tens of millions of American families today couldn’t get by without the “bargain-basement” prices that dollar stores like Dollar General offer — at the expense of their customers’ health and safety and the economic security of their workers. The U.S. economy isn’t delivering for American families, and that failuredelivering — for investors in and executives at Dollar General — an opportunity to thrive at astounding levels.
As little as possible on safety. Government inspectors have reported “fire extinguishers blocked by boxes” and “shaky, leaning towers of product” as high as nine feet tall. The Occupational Safety and Health Administration last yearDollar General a “severe violator” of federal workplace safety law, in the process making the company the first major retailer to earn that dishonor.
Overall, Dollar General’s stock price has quintupled since 2009, over double the share price gain at Walmart over those same years.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Dollar receding for Monday as US Dollar climbs, Oil slipsThe Canadian Dollar (CAD) has fallen 0.70% against the US Dollar (USD) in Monday trading as broader market risk appetite turns south and jittery inves
Read more »
Ugly or not, BYU did what it needed to to get its first Big 12 winUgly or not, BYU did what it needed to do against Cincinnati. Now the Cougars have their first Big 12 Conference win.
Read more »
Creamy cacio e pepe soup served up comfort when I needed itPecorino cheese and pepper, along with generous amounts of butter, turn a vegetable soup into a creamy bowl of comfort.
Read more »
Orange school board approves needed repairs at administration building, Brady Middle SchoolThe Orange City School District will have windows and the structural wall replaced at the administration building and a new generator installed at Brady Middle School.
Read more »
Gov. Hochul concedes border ‘is too open’ and that ‘a limit’ needed on who can crossPeople coming from all over the world are finding their way through, simply saying they need asylum, and the majority of them seem to be ending up in the streets of New York, and that is a real pro…
Read more »
The Accelerator and the Brake: What Is Needed for Good SexFor good sex, turn-ons must be dialed up, while turn-offs must be dialed down.
Read more »