Under Bush CEO pay up from 31 times average manufacturing wage to 44 times

[papau]

In 2000 the CEO wage was on average 31 times the average manufacturing wage, under Bush CEO's now get paid 44 times the average manufacturing wage, as they move those jobs overseas, pay less taxes, and contribute to the GOP. And Kerry and Edwards say what? Damn good thing Bush took care of corporate fraud and the mismatched with performance CEOs' pay deals, otherwise we'd have an issue.

http://www.reuters.com/newsArticle.jhtml;jsessionid=MV53K5Y233FZKCRBAELCFEY?type=reutersEdge&storyID=4388584

Reuters Summit-U.S. Executive Pay Still Out of Control-Experts
Wed February 18, 2004 06:28 PM ET
By Bill Rigby NEW YORK (Reuters) -

Executive pay at U.S. companies is still out of control, with only the smallest glimmer of hope for improvement, corporate governance experts said on Wednesday. <snip>

"Most chief executives are taking a deep breath because the pressure seems to be off," said veteran corporate reform expert Ira Millstein, senior partner at Weil Gotshal Manges, speaking at the Reuters Corporate Reform Summit.

U.S. CEOs now get paid 44 times what the average manufacturing worker earns, according to a survey by Towers Perrin, compared with about 31 times in 2000. <snip>

The issue of executive pay, which many identify as the acid test of meaningful corporate reform, should stay at the top of the agenda, said Millstein.
"These are the areas where boards need to dig in," he said. "But I don't see any easy road anywhere."

[onebigbadwulf]

1. How great would a bill be that says

"No employee can earn more than 20x the lowest paid employee"???

[tridim]

2. I actually heard a news report

on the radio yesterday that claimed CEO pay was now up to 500 times that of the average worker. Sorry, no source.

[papau]

3. ave worker makes much less than ave manufacturing worker - but

who worries about wages in the service sector of the economy - indeed Bush good news job growth projection was almost 100% service sector jobs -

seems he also says you need to get educated to get ahead - so we will soon have college grads asking "You want a coke with that?"

[bigtree]

4. CEO Pay at Top Defense Contractors

According to the study by United for a Fair Economy, More Bucks for the Bang: ", the median CEO salary at the 37 largest publicly traded defense contractors rose 79% between 2001 and 2002 whereas overall CEO salary increased only 6%.

In 2002, defense industry CEOs earned an average of $5.4 million - or 577 times as much as a private in Iraq - while other U.S. CEOs, on average, earned "only" $3.7 million."

http://www.ufenet.org/press/2003/BucksforBang.pdf


A World Policy Institute review found that 32 major policy makers in the current administration have significant ties to the arms industry now, and prior to joining the administration.

http://www.worldpolicy.org/projects/arms/reports/reportaboutface.html#III