Sunday, December 21, 2008

CEO pay.

In 1950, the average pay of an S&P 500 CEO was less than 30 times that of an average U.S. worker; by 1980, prior to the "Reagan Revolution, the average pay of the S&P 500 CEO was approximately 50 times higher than that of an average U.S worker. But by 2007, the average pay of an S&P 500 CEO had soared to more than 350 times as much as that of an average American worker.

For the sake of comparison, in Europe, an average CEO only makes 22 times as much as an average worker, and in Japan, only 17 times as much.

It is fascinating that the Republicans would try to blame the failure of the Automakers on the United Auto Workers.

While the Detroit executives were chastised for using corporate jets for their travels to Washington, DC, the now bailed out banks continue to rely on their fleet of corporate jets.

Is any of this starting to sink in? Take the hands out of their normal creative function in human life, and you end up with CEO's completely out of touch with the everyday reality of the American people.

No comments:

Post a Comment