(ABC) CEO Pay Now 380 Times Average Worker's, Says AFL-CIO

[Omaha Steve]

http://abcnews.go.com/Business/afl-cio-ceo-pay-14-percent-13-million/story?id=16170727#.T5FYd9mQnKc

By SUSANNA KIM (@skimm)
April 19, 2012


Kevork Djansezian/Getty Images


Just when you thought executive compensation couldn't get much higher, the average CEO pay increased 14 percent to $12.9 million in 2011, 380 times that of the average worker, according to the AFL-CIO's annual Executive Paywatch report released on Thursday.

The report, called CEO Pay and the 99%, found that among the 300 firms of the S&P 500 companies that filed annual proxy reports, the average level of CEO pay rose 13.9 percent, following a 22.8 percent rise in 2010.

The national labor group launched its Executive Paywatch analysis 15 years ago to inform the public about growing inequality in labor wages, AFL-CIO President Richard Trumka said in a press conference about this year's report.

As CEO pay increased, Trumka said more than 12 million workers are without a job, and "those with a job had a 2.8 percent raise, barely keeping up with inflation," he said.

FULL story at link.

[SDjack]

1. They are burning the cradle that rocks their company, and they don't care. n/t

[leftyohiolib]

2. b/c they dont look any father than to the end of the quarter theyre in