CEOs earn 343 times more than typical workers

[Ducimus]

WASHINGTON (CNNMoney) -- 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.

"Despite the collapse of the financial market at the hands of executives less than 3 years ago, the disparity between CEO and workers' pay has continued to grow to levels that are simply stunning," said Richard Trumka, AFL-CIO president.

...snip...

Last month, New York Republican Rep. Nan Hayworth filed a bill to repeal the disclosure rule calling it "burdensome," for placing an "unnecessary logistical and cost burden on all publicly traded companies," in a statement. She said that repealing the disclosure would allow companies to "direct those resources for investment and job creation."

But Trumka blasted the effort to undo the disclosure law.

"Apparently Wall Street doesn't want people to know that while working Americans paid for the economic crisis with their jobs, their homes and their retirement savings, these Teflon CEOs escaped unscathed," Trumka said.

http://money.cnn.com/2011/04/19/news...dex.htm?hpt=C2

[nikimcbee]

How much does Trumpka earn?

Gettin' fat off your union dues

[Ducimus]

Originally Posted by nikimcbee

How much does Trumpka earn?

Gettin' fat off your union dues

Most likely. Union bosses live off of the backs of the American worker too. Just like the CEO's.

[tater]

So what? I just don't see how this matters, and I'd certainly not want to live anywhere where people have arbitrary limits placed on income.

People who contribute even less to society (actors, athletes, etc) also make boats loads of money. Don't like what they get paid? Don't buy their crap, and start your own company (then live like a clerk instead of a CEO).

[Platapus]

I don't see anything wrong with this if the CEO is successful.

If a CEO earns 343 times more than a typical worker but brings in 344 times more in revenue that's great.

What I can't understand is how CEOs can get huge salaries and bonuses when they are running the company in the ground.

While the decision on what to pay the CEO is up to the stockholders/board of directors, what I would like to see is some of these CEOs get a salary of $1.00 per year and the rest as a percentage of the profits of the company.

CEO runs the company for big profits they get big bonuses. CEO runs company in the ground, they get a buck a year.

Stock holders/boards need to ask prospective CEOs "exactly how much faith do you have in your own ability to run our company? Enough faith to base your compensation on it?"

But that's just a fantasy of mine.

[the_tyrant]

Originally Posted by Platapus

I don't see anything wrong with this if the CEO is successful.

If a CEO earns 343 times more than a typical worker but brings in 344 times more in revenue that's great.

What I can't understand is how CEOs can get huge salaries and bonuses when they are running the company in the ground.

While the decision on what to pay the CEO is up to the stockholders/board of directors, what I would like to see is some of these CEOs get a salary of $1.00 per year and the rest as a percentage of the profits of the company.

CEO runs the company for big profits they get big bonuses. CEO runs company in the ground, they get a buck a year.

Stock holders/boards need to ask prospective CEOs "exactly how much faith do you have in your own ability to run our company? Enough faith to base your compensation on it?"

But that's just a fantasy of mine.

Your idea is great, but what if the general economical situation is bad?

[gimpy117]

Having companies disclose CEO and executive pay should only be fair. At least when they are publicly traded. If a company is gonna pay these people so much investors ought to know how much.

[Platapus]

Originally Posted by the_tyrant

Your idea is great, but what if the general economical situation is bad?

Then the CEO gets a smaller bonus.

It is not like there is a shortage of people wanting to be CEOs. I just feel that it is important that CEOs have some "investment" in the well being of the company and not think of it as a short term cash cow and then move on.

But like I said, pure fantasy of mine.

[August]

Originally Posted by gimpy117

Having companies disclose CEO and executive pay should only be fair. At least when they are publicly traded. If a company is gonna pay these people so much investors ought to know how much.

They do already. CEO and executive compensation is always disclosed to the investors.

[Sailor Steve]

Didn't we just have this thread?

[Armistead]

Sure it's terrible, but as long as it's private pay. The issue is bailouts, tax shelters, fraud and loopholes.

[GoldenRivet]

We used to get letters in our company mailboxes from our CEO.

this letter, coming from a man who earned several million dollars per year, would ramble on and on about how expensive it was to pay the work force, and how it was up to us front line workers to do everything in our power to save money and reduce costs.

on average we commoners were pulling in about $1,600 per month after taxes.

My Christmas bonus was $58

His Christmas Bonus was about $300,000

it was really infuriating and disheartening to receive such propaganda in the company in box.

[Ducimus]

Originally Posted by tater

So what? I just don't see how this matters,.

It would probably matter more to you if you've ever experienced having a CEO take money directly out of your pocket, and put it in his own.

Originally Posted by Sailor Steve

Didn't we just have this thread?

Probably. I was bored when i made this thread.

[Armistead]

Originally Posted by GoldenRivet

We used to get letters in our company mailboxes from our CEO.

this letter, coming from a man who earned several million dollars per year, would ramble on and on about how expensive it was to pay the work force, and how it was up to us front line workers to do everything in our power to save money and reduce costs.

on average we commoners were pulling in about $1,600 per month after taxes.

My Christmas bonus was $58

His Christmas Bonus was about $300,000

it was really infuriating and disheartening to receive such propaganda in the company in box.

How do you think they make so much, by paying workers so little.

[AVGWarhawk]

Originally Posted by GoldenRivet

We used to get letters in our company mailboxes from our CEO.

this letter, coming from a man who earned several million dollars per year, would ramble on and on about how expensive it was to pay the work force, and how it was up to us front line workers to do everything in our power to save money and reduce costs.

on average we commoners were pulling in about $1,600 per month after taxes.

My Christmas bonus was $58

His Christmas Bonus was about $300,000

it was really infuriating and disheartening to receive such propaganda in the company in box.

Reminds me of Chevy Chase in Christmas Vacation when he opens his bonus check to find a certificate to the Jelly of the Month Club!