Thread: CEO Paycheck: $42,000 a day

CEO Paycheck: $42,000 a day

A new analysis finds chief executives of large companies made 262 times the average worker's annual pay in 2005.
By Jeanne Sahadi, CNNMoney.com senior writer
June 21, 2006: 5:47 PM EDT
NEW YORK (CNNMoney.com) – The top dogs at large companies make big bucks, no surprise. But it's always a little jolting to see just how big those bucks are relative to the paycheck of the average Joe.
Last year, the average CEO of a company with at least $1 billion in annual revenue made $10,982,000, or 262 times what the average worker made, according to an analysis by the Economic Policy Institute (EPI) released Wednesday.
Put another way, the average worker -- who earned $41,861 in 2005 -- made about $400 less last year than what the average large-company CEO made in one day. That assumes 260 days of pay (52 weeks x 5 days a week).
The CEO-to-worker pay differential in 2005 was the second highest on record. The highest was 2000, when the average CEO earned 300 times what the average worker made.
In 2002, the differential fell to 143 as the bear market took its toll on stock-related compensation. Nevertheless, between 2000 and 2005, median CEO pay rose 84 percent to $6.05 million on an inflation-adjusted basis, according to EPI.
Median worker pay during the same period fell an estimated 0.3 percent to $33,852, based on BLS weekly earnings data.
Critics of CEO pay contend that the compensation committees of publicly traded companies too often fail to tie pay to performance.

http://money.cnn.com/2006/06/21/news/co ... /index.htm

It is astonishing. What person needs that kind of money? It's pure greed and they maintain that lifestyle on the backs of the poor. Proof that Regans trickle down theory doesn't work with the greed driven.

THis is what happens when government and big business are in bed together. The rich get richer and the poor get poorer and politicians like it that way! With few exceptions, they have long since stopped caring about we the people
because we have been complacent and allowed them to get away with it!

They need to have seperation of business and government.