In 2016, Treasurer Seth Magaziner has voted “no” on executive compensation plans at 75 companies, including Facebook, eBay, and the parent company of Google, “due to a misalignment between CEO pay and company performance or because the compensation plans were deemed excessive or otherwise inappropriate.”
“My job as Treasurer is to deliver strong financial performance for the state’s pension fund. When the companies we invest in award excessive pay packages to executives, it comes at the expense of the pension fund and the public employees we serve,” Magaziner said. “Our say-on-pay effort reflects our position that executive compensation should be transparent and based on performance.”
Earlier this year Magaziner announced that he will use the power of the Treasurer’s office to “vote against appointing white men to corporate boards of directors that are already comprised of mostly white men.” This latest announcement can be seen as a continuation of Magaziner’s belief that corporate reform can come through ethical voting from progressive investors.
Magaziner says that since the 1970s, inflation-adjusted CEO pay in the U.S. increased by almost 1,000 percent, according to a study last year from the Economic Policy Institute. Six of the highest paid U.S. CEOs make more than 300 times the salary of their typical employee, according to the compensation analysis firm PayScale.
Facing increasing shareholder advocacy amid a volatile market and slower growth rates, many of America’s biggest corporations are under an intense spotlight to link chief executive pay to company performance, according to the Korn Ferry Hay Group 2015 CEO Compensation Study.
Magaziner has sent a letter to all companies that received “no” votes to inform them of Rhode Island’s opposition to their executive pay packages, and offer to open a dialogue about how they can make progress on this important issue.
On Wednesday morning, reporters and activists were prevented from attending real estate developer Joseph Paolino’s press conference where he was to announce his plans regarding the issue of homelessness. The behavior of the security guards and police officers at the Providence Convention Center, where the press conference was held, became a preview of what many fear might become the norm if the wrong policies are instituted in downtown Providence.
The Providence City Council Ordinance Committee meeting scheduled for 5pm on Monday was cancelled at 4:30pm, what one City Hall worker called, “at the last minute,” by Committee Chair Terrence Hassett. The cancellation effectively stalls the discussion of Councillor Seth Yurdin’s resolution opposing the construction of National Grid’s proposed liquefaction facility for Fields Point in the Port of Providence.
Councillor Seth Yurdin arrived ten minutes before the meeting was due to start. He had received a text ten minutes before arriving telling him the meeting was cancelled. He said he didn’t know why the meeting was cancelled. He had no more insight, it seems, than anyone else.
Tonight at 5pm the Providence City Council Ordinance Committee will be considering Councilor Seth Yurdin‘s second, stronger resolution opposing National Grid‘s fracked gas LNG liquefaction facility for Fields Point in the Port of Providence.
A march from Kennedy Plaza to the Providence Public Safety Complex, with a brief, tense stop in front of the Providence Place Mall was held in Providence Friday evening in solidarity with a 
On my way back to Kennedy Plaza after the event Lt. Perez told me, half jokingly, that “those kids kind of hurt my feelings.”
Rosa was waiting near the end of a line of about 30 people when I found her at 8:30am in the Kennedy Plaza terminal building Wednesday morning. In her hand she held a senior/disabled bus pass that was due to expire in September 2020, but a driver told her that the pass was no good anymore and that she had to get a new bus pass if she wanted to continue to ride at the reduced fare.
Further up the line Frederick, a disabled man in his late thirties, told me that he had waited in line for over two hours the day before. “They cut off the line at ten people, and told the rest of us to come back tomorrow,” he said. He added that it is difficult for him to get around without a bus pass.
“There was no way to determine if a pass holder had died or moved away; their passes remained active and in use in our system until they expired. So we knew we needed to lessen the time the passes are valid. They will now be valid for two years, not five. The passes being issued now will expire on a customer’s birthday after the two-year mark, so everyone will not have to re-qualify at the same time again – it will be staggered.”
Saying that fighting dark money in politics is his “patriotic duty,” Senator Sheldon Whitehouse sat next to Congressmembers David Cicilline and James Langevin in a “roundtable discussion” to highlight his work on the 
Notably, there were protesters outside Save the Bay holding signs reminding their elected representatives about both Invenergy’s proposed $700 million fracked gas and diesel oil burning power plant and National Grid’s proposed LNG liquefaction facility for Fields Point in the Port of Providence, a stone’s throw away. They were there to remind elected officials that their jobs in Washington do not absolve them from taking positions on local issues. None of the elected leaders in the room, aside from State Senator Juan Pichardo, who has publicly 
The influence of corporate spending on elections since the 2010 Citizens United decision by the Supreme Court is a major concern to all who attended the event. Citizens United unleashed a previously restricted torrent of special interest money into the political system. More than $1.5 billion in unlimited contributions, including more than $500 million in secret contributions, have been poured into federal elections since the decision was issued.
Social services for the blind and visually impaired are among the hardest hit as a result of the new computer system at the state Department of Human Services, said Rui Cabral, board member of the 
As for the staff DHS is cutting, saying that there are openings at DCYF is disingenuous. Many of the staff losing their positions at DHS started at DCYF, said Pearlmutter. They took jobs at DHS “because the work at DCYF is so crisis oriented. It’s difficult and emotional work that many found they couldn’t do any more.”
The Environmental Justice League of Rhode Island (EJLRI) “is thrilled that Mayor Jorge Elorza listened to the community and is taking a strong stand against fracking, climate change, and LNG production in Providence.”