The Los Angeles City Council voted Wednesday to approve a sweeping package of minimum wage increases for workers in the tourism industry, despite objections from business leaders who warned that the region is already facing a slowdown in international travel.
The proposal, billed by labor leaders as the highest minimum wage in the country, would require hotels with more than 60 rooms, as well as companies doing business at Los Angeles International Airport, to pay their workers $30 per hour by 2028.
Jessica Durrum, a policy director with the Los Angeles Alliance for a New Economy, a pro-union advocacy group, said business leaders also issued dire warnings about the economy when previous wage increases were approved — only to be proved wrong. Durrum, who is in charge of her group’s Tourism Workers Rising campaign, told the council that a higher wage would only benefit the region.
https://www1.salary.com/MARRIOTT-INTL-INC-Executive-Salaries.html
$5 million is his cash income.
I’m not trying to argue that it would mean anything to not pay him. I just wanted to express my frustration that CEOs are actively rewarded and lauded for making decisions like stock buybacks when the actual backbone of the industry are looked at as drains on society because they require things like SNAP or rent assistance just to survive.
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This is what was reported to the SEC.
https://www.salary.com/tools/executive-compensation-calculator/marriott-intl-inc-executive-salaries?year=2022
Anthony G. Capuano assumed the role of CEO in 2021 after the death of Arne M. Sorenson.
Ya that’s the point they get paid 25% their total compensation in wages. They make 75% of it on the stock, which goes up when they squeeze labor. It’s misaligned incentives.