Firedoglake - Firedoglake weblog 'We Make It; They Take It: "U.S. workers are the most productive in the world and they put in longer hours than workers in any other developed country. Yet, even though our economy generates more than $13 trillion in income, the economy is not delivering for workers. In fact, average wages today are only 15 percent higher than in 1980, despite a 67 percent increase in productivity.
The annual release of CEO compensation last week highlights one reason why the gap between the richest in America and the rest of us has grown significantly over the past 25 years.
In 2006, the average CEO of a Standard & Poor’s 500 company made $14.78 million in total compensation, according to initial estimates by the Corporate Library and highlighted on the 2007 AFL-CIO Executive PayWatch website, which includes some of the executive compensation data required under new rules issued by the U.S. Securities and Exchange Commission (SEC) in 2006. The new disclosure rules go further than ever before in revealing just how much executives are paid, making transparent previously hard-to-find information such as pension totals..."
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