IMMEDIATE RELEASE CONTACT: James Adams (202) 536-‐7880 May 15, 2012 email@example.com
NO ARRESTS AT PEPCO HEADQUARTERS IN ADVANCE OF MAY 18 SHAREHOLDER MEETING 99% Spring Calls on Pepco to Cut Executive Pay, Pay Fair Tax Share and Withdraw Rate Hike
Protesters deliver demands for Pepco board while pledging to protest at shareholder meeting
WASHINGTON, D.C. – More than 100 D.C. residents stood together with 99% Spring to call for Pepco to pay its fair tax share, cut top executive compensation packages in half and withdraw its $42.5 million rate hike at its May 18 shareholders meeting. Several protesters put up tents and sleeping bags symbolizing the wait for Pepco’s May 18 Shareholder meeting.
“Pepco is creating unbelievable income gaps between the rich and average working D.C. families. Its CEO’s pay increased 100 percent last year; it’s now over $7 million. Since the economic crisis started, Pepco has made over $2 billion and has gotten almost $500 million in federal tax returns. All this as the District is cutting its budget because Pepco and corporations like them don’t pay their fair tax share. It’s all coming out of my pocket, Pepco can’t have its cake and eat it too” says John Butler, an unemployed District resident. Today’s protest was just a sampling of what will happen at the shareholders meeting.
Today’s action comes as the 99% Spring movement prepares to attend Pepco’s May 18 shareholders meeting with the unemployed and underemployed, seniors, immigrants, vets and more who are all Pepco shareholders. They will aggressively challenge Pepco’s executive compensation, tax and job creation policies. Hundreds will protest inside and outside the meeting.
WHAT: Pepco Pre-‐Shareholder Meeting Protest WHEN: Tuesday, May 15, at Noon
WHERE: Pepco Headquarters, 701 Ninth St., NW
Site contact: James Adams – 202.536.7880