Companies had lots of reasons to resist a just-approved new rule forcing them to disclose the pay gap between workers and the CEO: 216 to be exact.
The average CEO of Standard & Poor's 500companies were paid 216 times more than the median employees at their companies, according to a USA TODAY analysis of worker pay data from Glassdoor.com and CEO pay data from S&P Capital IQ. CEO pay was based on the most recent total reported compensation of current CEOs and Glassdoor pay is based on worker-reported data to the popular job search site.
The gap is much larger in several cases. Nine CEOs including David Zaslav of media company Discovery Communications (DISCA), Chipotle (CMG) co-CEOs Steven Ells and Montgomery Moran and Larry Merlo of CVS Health (CVS), were paid 800 times or more than the average worker at these companies.
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What difference does this make?
ReplyDeleteIt isn't anybody's business but the companies, anyway.
ANY discussions like this of 'pay disparity' are SOLELY designed to create class envy and division.
And we all know where those ideas come from.
Most socialists and losers think this is a problem.
ReplyDeleteI don't have a problem with CEO's making a lot of money.
ReplyDeleteThe problem I have are the companies who are paying low wages causing the employees to rely on government welfare benefits to make ends meet.
Walmart is the perfect example. Walmart along with "Big Foods" i.e.-Kraft, etc were instrumental in getting the Obama admin to expand the food entitlement program. This benefiting them in 2 ways. Of course they would sell more product, but the expansion covered more of their own employees.
did you ever wonder exactly how much JPMorgan makes being the SNAP card processor?
ReplyDeleteThose contracts are in the billions 11:00.
ReplyDelete