Posted on 05/11/2021 11:34:26 PM PDT by knighthawk
Of the 100 S&P 500 firms with the lowest median worker wages, 51 bent their own rules in 2020 to pump up executive paychecks, according to a new study.
The study from the Institute for Policy Studies found that at those 51 companies, the average CEO pay rose 29 percent last year, to $15.3 million, while worker wages dropped 2 percent.
The report found that CEOs at the companies made on average 830 times more than workers, and the left-leaning think thank is calling for measures to reign in extreme pay gaps, including a tax based on the size of the difference between CEO and worker pay.
(Excerpt) Read more at dailymail.co.uk ...
>> How woke is Cola now?
That depraved, racist Korporation should be financially destroyed.
Don’t forget the $12m severance package to Coke’s woke former chief lawyer.
FR used to be full of people in favor of the “producers” over the workers....the “producers” deserved to be insanely compensated .....the workers can just eat slop....
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Nothing “used” to about it. Check out any thread involving unemployment or minimum wage. Some say it should be scrapped and the US returns to working conditions in the early 1900s. Not willing to work 4 jobs at $2.13/hr? You are too lazy they say.
Don’t like it? Buy stock.
So how many people will be fired so that diversity-crazed Coke can reward
its idiot chief lawyer who came up w/ the ill-fated plan his $12 million severance package?
BTW, this guy still has a job at Coke.
The woke CEOs should take a salary equal to that of every other employee.
My form of protest was to trade my Coke stock for Duke Energy. Fidelity makes it painless. I feel better already.
A Marxist Think Tank criticizes big business. Now that’s novel.
One of the IPS authors of this report is Sam Pizzigatti. He’s an old Marxist and member/or was a member of the communist/Marxist dominated National Lawyers Guild, a Communist Party USA legal front cited by Congress in the 50’s as “the legal bulwark of the CPUSA”.
Damned. Thought this guy had croaked decades ago. Old reds never die. They just smell that way.
Surprise! democrat run corporations hate the average worker.
When people (including FReepers) think returning to early 1900s work conditions is acceptable, they have to understand that is what drives people to vote socialist - and it isn’t just naïve young people doing so. Plenty of seasoned workers (and former workers - not retirees, just idled workers) see no other means of providing basic needs.
Socialism doesn’t work; it is supported by those for whom tried and tested capitalism doesn’t either.
“...and the US returns to working conditions in the early 1900s.”
No one on FR is saying that at all Comrade...
Back in 1965 the average CEO made 16 times the pay of the average worker. In 2018 the average CEO made 278 times the pay of the average worker.
https://www.marketwatch.com/story/ceos-are-paid-278-times-more-than-the-average-us-worker-2019-08-15
Yeah, I get that it’s a free market, and CEO pay is set by boards of directors. But I wonder when was last time an “approved” director was voted out.
There is something wrong here, no matter how you spin it. It’s kinda like paying a general 278 times the pay of a private. Either the general is wildly overpaid, or the private is wildly underpaid.
And as kearnyirish2 noted, it’s bad for morale. It drives the worker towards socialism (and the private into not re-enlisting).
“Can you think of a better reason to be connected?”
You need to better understand the Left. They have NO PROBLEM with people getting rich, as long it’s it’s THEIR PEOPLE.
In general (a) the CEOs did not order the economic shutdowns that caused so many folks being laid off and de-stimulated the economy, and (b) like it or not they had to navigate their company’s through an economic period they did not create. Does that mean they are worth the compensation they received? Ask the stockholders, not the lawmakers that went along with the economic shut downs.
“Firing people 2200 people and piling 18 million dollars on their CEO? “
Sounds like IBM.
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