Former FCC Chair Joins Secretive Carlyle Group
The former head of the Federal Communications Commission is starting a new job at the secretive private equity firm the Carlyle Group. Nicknamed “the Ex-President’s Club,” Carlyle’s roster has included a long list of powerful figures, including both Bush presidents. Carlyle owns a majority stake in Booz Allen Hamilton, the military contractor that employed Edward Snowden. Julius Genachowski, who led the FCC for four years under President Obama, will serve as a managing director and partner, specializing in telecommunications.
USDA Proposes Lifting Restrictions on GMO Corn, Soybean Seeds
U.S. agricultural regulators have proposed lifting restrictions on genetically modified corn and soybean seeds that are resistant to the weed killer 2,4-D. The herbicide is made by Dow Chemical and has been linked to a range of health risks including cancer and Parkinson’s disease. It was one ingredient in the toxic Vietnam War herbicide Agent Orange. The proposal to lift restrictions comes amid pressure from farmers after many weeds grew resistant to Monsanto’s Roundup Ready weedkiller. Critics say the herbicide often drifts from its application site, posing a risk to health and nearby plants.
Wage Disparity Between CEO and Workers Continues to Grow
New figures show the median pay for the country’s top corporate executives increased at nearly double the rate of the average worker. According to the New York Times, the top 200 CEOs made an average $14.5 million, a 5 percent increase over 2010. Workers, on the other hand, saw a pay increase of just 2.8 percent. CEO pay has outgrown worker pay more than 127 times faster over the last three decades. The average Fortune 500 chief executive now makes 380 times more than the average worker.