CEO pay soars while workers' pay stalls

[NeoConsSuck]

Source: USAToday

The heads of the nation’s top companies got the biggest raises in recent memory last year after taking a hiatus during the recession.

At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010 as the executives’ compensation started working its way back to prerecession levels, a USA TODAY analysis of data from GovernanceMetrics International found. Workers in private industry, meanwhile, saw their compensation grow just 2.1% in the 12 months ended December 2010, says the Bureau of Labor Statistics.

Two years of scaling back amid tough economic times proved temporary as three-quarters of CEOs got raises in 2010 — and, in many cases, the increases were substantial.



Read more: http://www.usatoday.com/money/companies/management/2011-03-31-ceo-pay-2010.htm

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In casinos and capitalism, the house always wins.

[Newest Reality]

1. What a relief!

At least we can rest assured that our Overlords are doing great. They are safe, secure, well-fed, healthy and now prospering even more immensely as they lead us to Never Never land. We enjoy and are thankful for the whips and cuts for all of us who are holding-up their golden pyramid!

What would we do without them?

[stockholmer]

2. this is a pure example of globalization de-leveraging,greater % of profits come from foreign markets

whilst the nominal home country of the corporation's own domestic market shrinks, along with the wages. The US workforce is being ground down to the lowest common global denominator, even as many US firms expand revenue streams and profits due to rises of income in other parts of the world.

This leveling will not be reversed, and will increase in velocity for the US. Certain segments will be (temporarily) relatively immune (and trumpeted by the corporate media) but the vast bulk will see a slow inexorable erosion in quality of life at most economic levels.

[sarcasmo]

3. We have to pay them insane amounts of money or we will not be able to hire quality people.

Talking point ^ Bullshit!

[Rex]

4. Well of course they did! We gave them 1.6 trillion taxpayer dollars!

They didn't have to make one fucking dime! Oh and all tax free, because America is all about the land of the biggest oligarchies.

[FailureToCommunicate]

5. But this WILL help the economy:

yacht sales will be up again.

[Kingofalldems]

6. Yeah but they take all the risk

Says the idiot freepers.

[Bozita]

7. I'm shocked, shocked I tell you!

Sounds to me like good old class warfare.

[doc03]

8. MLB salaries aren't too shabby either

Alex Rodriguez pulls down $32,000,000 and the minimum wage in MLB is $414,000.


http://content.usatoday.com/sportsdata/baseball/mlb/Yankees/salaries/2011

[NeoConsSuck]

9. And your point?

You're comparing sports stars who *bring* money into an already rich sports team owner's pocket, as opposed to a CEO whose earnings far exceed his employees' salaries. If those stadiums and sports arenas weren't filled, those sports stars wouldn't be making the money they do. If the NFL has a strike this year, how many fans will pay to watch the team owners play football?

Do you have a problem with Hollywood and rock & roll stars also?

Here's a nice link, and note the trend. There is a reason why the income disparity in this country is getting worse and worse, and the blame should not fall on baseball players:

http://www.google.com/#q=ceo+pay+ratio+history&hl=en&safe=off&prmd=ivns&tbs=tl:1&tbo=u&ei=Q1uWTev2NJGtgQeY9Pm9CA&sa=X&oi=timeline_result&ct=title&resnum=11&ved=0CGkQ5wIwCg&fp=8eb9e227ea3dca86

[doc03]

10. How many sports stadiums are built on taxpayers money?

If the taxpayers weren't paying for their stadiums the owners and players wouldn't be making that kind of obscene income. If I have to pay for a f---g stadium so a bunch billionaire owners and athletes can make that kind of money I shouldn't have to pay an arm and a leg to see a game in my f---g stadium. As far as actors and musicians goes I don't care I don't have to pay for their TV networks or theaters. The obscene salaries in baseball have destroyed the sport, whoever has the most money to through around wins the game.

[CBHagman]

12. Did you see Lawrence O'Donnell's socialist football video?

Check it out here:

http://jimhancock.blogspot.com/2011/02/national-football-league-triumph-of.html

[doc03]

13. Excellent, that was exactly the point I was trying to make, the

salaries in the NFL are reasonable compared to MLB.

[CBHagman]

11. The sad thing is that this isn't even surprising.

It's been so for so long that it feels like the new normal, which it ought not to be.

What I don't understand is why there's not more public outcry. In fact a fair number of people vote against their own interests and for additional advantages for the top 1 percent.

[cstanleytech]

14. I wonder, could the French solution they used in 1789

be on its way if this keeps up?