CEO pay soars while workers face layoffs, stalled pay

[Charleston Chew]

Source: David Edwards

CEOs are getting even richer while workers are hit with stagnate pay and even layoffs.

A recent USA Today analysis of data from GovernanceMetrics International showed that CEO pay jumped 27 percent last year, nearly reaching pre-recession levels.

Workers, however, saw their pay rise at a paltry 2.1 percent in 2010, according the Bureau of Labor Statistics. Data from the bureau also showed that the overall inflation rate was 1.64 percent during the same period.

That means working people in America barely kept on level with the rate of inflation, while their employers saw their pay soar.

The analysis of 158 Standard & Poor's 500 index companies with the same CEO serving all of 2009 and 2010 found that median CEO pay in 2010 was $9.0 million, the most CEOs have made since a median of $9.2 million in 2007.



Read more: http://www.rawstory.com/rs/2011/04/06/analysis-ceo-pay-soars-while-workers-face-layoffs-stalled-pay/

[Sherman A1]

1. Charming

simply charming.....

[ixion]

2. A company I was working for was recently aquired by another company,

who was only interested in our client list, and the promptly eliminated the entire engineering team.

There is no job security unless you're a VP or higher these days. Please note that the business side guys all still have their job. :grr:

[ejpoeta]

3. while watching "the 1%", a documentary by johnson and johnson heir

jamie johnson, he interviewed freidman, the inventor of 'trickle down economics' theory. when johnson tried to get an explanation of how the ceo pay increase of some high percent while regular folks pay increased only 2$ freidman insisted that regular folks would be suffering and not be getting paid so much if it weren't for trickle down economics. wtf! and when johnson tried to argue with him about what a 2% increase means to regular folks, friedman decided he didn't want to talk about it anymore.

[No Elephants]

4. +1

[No Elephants]

5. The Plutonomy--one of few things in the US that works--and exactly as intended, too.

Wake up, America.