Local Lodge 218
The Big Pay Gap6/24/2006
Colossal cutbacks and massive salaries; CEO's across America are working hard to trim the fat from their companies and line their own pockets. The unemployment lines grow longer and the CEO's wallets get fatter.
According to the Economic Policy Institute in Washington, D.C., CEO's earn nearly 262 times the pay of the average worker; the national average being $42,000 a year for a worker and almost $11 million for a CEO. This gap is at its second-widest level in 40 years, which is as long as the EPI has been tracking the ratio. CEO's continue to draw huge compensation even if the company's stock drops substantially.
With Unions negotiating to cut their own hourly wage just to keep their jobs, the swelling of upper management's salary is a slap in the face of every worker in America.