How can they NOT see how wrong this is. Without the workers they have nothing!
NPR announced this morning that JP Morgan Chase CEO Jamie Dimon's 35% 2015 pay increase brings his compensation to $27 million per year.
Chase is one of the five too-big-to-fail banks that controlled 25% of US bank assets when they crashed the economy in 2008 and now control nearly 50% of US bank assets after all the bail outs and "reforms" the DC politicians have wrought. Expect President Clinton to need all of our Social Security and Medicare money to bail Dimon and his ilk out the next time they crash the economy and make 2008 look like a practice session for the real fleecing of the 99%..
We are making progress.
As I recall, the average used to be 400 times.
The Corporate CEOs must be slipping in their financial duties.
Don't worry, however. They will get it back up to 400 times when Hillary is President.
Who knew Obama meant pennies when he said hope and change?
Abhaya,yes there should be that sort of law.
Dimon and the 349 other sociopathic executives who enthusiastically embrace their annual ill-gotten gains validate this inhumane inequality by convincing themselves that they deserve/earn this compensation. For them, too much is never enough and the Boards of Directors of the corps that rubber-stamp their pals' disproportionate compensation and bonuses are of the same mindset. Gotta pat each other's backs and line each other's pockets. When Japan fashioned their rebuild after WWII on the US model, they had the foresight to implement a law that limited executive compensation to 40% of the average wage earner. With our corporatist Congress, we will never enact such legislation...sad to say.
Dimon's 35% raise will enable him to add more politicians to the list of politicians he and Chase already own.
No one is worth a working persons year of salary in one day. As an auditor, I remember a CEO who strong armed everyone in the company to give their "fair share" to the United Way. He was always in the newspaper about his philanthropy to the United Way. When I performed a payroll audit, I found the he maxed out on social security on the first bimonthly payroll of the year and he gave $1.00 to the United Way the entire year. It was a great lesson in greed for this auditor when I was young.