August 27, 2003
GREAT NEWS ON LABOR DAY
According to FairEconomy.org, "Median CEO pay skyrocketed 44 percent from 2001 to 2002 at the 50 companies with the most announced layoffs in 2001, while overall CEO pay rose only 6 percent." Sheesh, that's just disgraceful. What, do they get rewarded for pink-slipping?
I take it that is a rhetorical question?
Posted by: Bill Day on August 28, 2003 12:20 PMYou got it! And so it has been for 30 years.
Posted by: Verna on August 31, 2003 04:30 PMI work in retail, where the store manager makes 5-10X the wages of the average worker. For every dollar I earn, he makes $10. At the end of the year, I think of him as being well-off for keeping his workers under his thumb.
The CEO of this company makes 1500-2000X the average worker. For every dollar I earn doing the sweat work day in and day out, the CEO makes $2000. At this rate of pay, he makes as much money in an hour of work as I make in a year.
Most people don't stop to think about this when they are shopping for Easter candy or back-to-school items or just picking up some of life's daily necessities like toothpaste or toilet paper. Sure, it's great to get a bargain, but at whose expense? My expense.
Americans support this system on a daily if not hourly or minute-by-minute basis. And we think we can set up democracy and help the poor, oppressed people of Iraq. We can't even help the poor, oppressed people of the United States of America. And I have a job--consider the jobless, who are considerable steps lower than I am in my salary equation.
As a country, we are so busy trying to make ends meet and give ourselves a fair quality of life that we have forgotten to look at the bigger picture.
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