The discrepancy between what CEO's get paid and what their workers are being paid has been getting a lot of attention lately. One blogger claims that the distance between the two has increased a thousand fold since the 1950's, presumably because executives are a thousand times smarter and work a thousand times harder than the people who actually do something.
It's been documented that the CEO's of S&P 500 companies currently make 354 times more than their employees but, in general, corporate America is doing it's best to resist divulging these numbers. You know, kinda hard to hustle your subordinate into picking up the lunch check.
At that rate your average employee would have to work 14,160 hours a week to take home the same dough the big boss does. No coffee breaks and long lunches for the drones. Perhaps some profoundly creative time clock punching.
In third world countries like England, CEO's only average 22 times what workers get. In France 15 times, Germany 12 times… how do they scrape by?
JC Penney hired CEO Ron Johnson away from Apple and gave him 52 million to come aboard. Johnson lives in California and Penny's corporate headquarters are in Texas. Rather than move, Ronzo commuted daily by private jet. He was making 1,795 times what the average Penny's employee makes.
Seventeen months later Penny's had lost 4.3 billion dollars and it's stock was down 32% and Ronzo was out of work. He was guaranteed a $150,000,000 (one hundred and fifty million dollars) if he was fired.
Lets go find a company to mess up, I'm pretty sure we could be great at it.
What color jet do you want?
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