In the old days, a CEO would make something like 40 times the pay of an average worker. But for many companies it’s now more than 500 times.
So, yeah. There are greedy unions. But it’s a bit difficult to tell a union to be reasonable when the boss is making 500 times more than the guy working at the loading dock.
And as a side note, where are the boards of directors who set executive pay? Well, they’re happy cashing $100,000 paychecks for meeting just a few times a year. So they won’t be rocking any boats.
Ok, Leaning Left.
“Former U.S. Ambassador Caroline Kennedy has resigned from Boeing’s board of directors after serving the global aerospace company for three years during its worst-ever crisis, the jet maker said Friday, raising the possibility the high-profile Democrat may return to a big diplomatic job in the new Biden administration.”
You have to pay big buck$ for expertise!!
In the old days, a CEO would make something like 40 times the pay of an average worker. But for many companies it’s now more than 500 times.
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Very True. As companies merged and grew larger and larger the overlapping Boards ensured the insiders were extremely well paid. I am on X board and I will reward CEO of Y. CEO of Y is on Z board and ensures Y is extremely well paid. CEO of X is on Z board etc.
Do I believe they are overpaid. Probably and certainly the golden parachutes are bull.
Now, look at sports stars. Look at their salaries for 9 mos of work. Are they overpaid?