Today Congressman Chuy García introduced the Reward Work Act of 2019, which would ban open-market stock buybacks that overwhelmingly benefit executives and wealthy shareholders, at the expense of workers and communities.

Wells Fargo says it cost the bank $200 million per year to raise the minimum wage to $15/hr, yet the bank spent $40 billion in stock buybacks for shareholders and executives. This act would ban stock buybacks and shift the focus to reinvesting in workers. What are your thoughts? #BetterBanks
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Today Congressman Chuy García introduced the Reward Work Act of 2019, which would ban open-market stock buybacks that overwhelmingly benefit executives and wealthy shareholders, at the expense of workers and communities.

Wells Fargo says it cost the bank $200 million per year to raise the minimum wage to $15/hr, yet the bank spent $40 billion in stock buybacks for shareholders and executives. This act would ban stock buybacks and shift the focus to reinvesting in workers. What are your thoughts? #BetterBanks

 

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Maybe instead of spending all the money on pizza parties and crap with the Wells Fargo logo on it to give to us employees as “rewards”, just use that money to pay us better?

Bought a bunch of their stock at $10, invest in evil, lol.

Some companies, often the larger ones, offer employees benefit packages that include stock or options. Buybacks improve the value of stock which benefits workers with incentive packages, as well as wealthy stockholders, sometimes more than short-term wage increases... Perhaps encouraging more equitable incentives for workers, as well as wage increases, would be more beneficial than harnessing the market with ever-more regulations.

I sometimes think if it would be better for Branch Team members to unionize. They get paid hourly anyways.

Benjamin Borne Rajnita Singh Ahsara Conner Who is surprised when we aren’t excited about 2% raises 🤷🏾‍♂️

Finally. ❤️

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