Compensation received by chief executives of the biggest US companies surged 11 percent over the past 12 months -- to $9.3 million on average, The Wall Street Journal reported.[...]
Overall, the CEOs of media companies claimed four of the top 10 spots, the paper noted.
And so well deserved. Especially in these “no, no, it’s not a depression” times.
Here’s a nice little pictorial: (click to embiggen)
It shows that in 1940 half the CEOs earned 56 times the average worker, and in 2004, they earned 104 times. Figures vary a bit depending upon who’s providing them, but they all paint the same obscene picture.
In 2005, the top executives earned 262 times more. (Yes, I am using the term “earn” very loosely.)
According to the Economic Policy Institute report, in 1965, U.S. CEOs in major companies earned 24 times more than a typical worker; by 2007, they made 275 times more. U.S. CEOs also make far more than CEOs in other advanced countries, the report said.
But what do the numbers say now? Surely that banking fiasco in 2008 knocked them down. Eh?
In 2010, chief executives at some of the nation's largest companies earned an average of $11.4 million in total pay -- 343 times more than a typical American worker, according to the AFL-CIO.
....but hey, do what you want....you will anyway.
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