I see a direct connection and a parallel that implies greed when it comes to CEO compensation picture. Look at these numbers and tell me something isn't getting greedier and more immoral about the compensation disparity between avg workers and CEOs.
"CEOs Earn 343 Times More Than Typical Workers"
WASHINGTON (CNNMoney) -- In 2010, chief executives at some of the nation's largest companies earned an average of $11.4 million in total pay -- 343 times more than a typical American worker, according to the AFL-CIO.
"Despite the collapse of the financial market at the hands of executives less than 3 years ago, the disparity between CEO and workers' pay has continued to grow to levels that are simply stunning," said Richard Trumka, AFL-CIO president."
"In an effort to shine a light on CEO pay, the AFL-CIO examined chief executive salaries at 299 firms traded on the S&P 500. Their compensation was up 23% in 2010, compared to 2009. AFL-CIO used Bureau of Labor Statistics wage data to define typical worker pay, which was $33,190 for all occupations in 2009, the most recent year for which data is available.
That and more data is posted on the website paywatch.org, which is run by the union group. The site will eventually post CEO pay for all 500 companies, as that data is released in proxies submitted to the Securities and Exchange Commission (SEC)."
"20 highest-paid CEOs"
The campaign highlighting pay disparity comes as publicly traded companies will soon have to start disclosing the ratio of CEO pay to the median pay of all company employees as part of the Wall Street reform bill. The SEC has yet to implement the new law that will require this disclosure, but it is inviting public comment on the rule, which is expected to be released later this year.
Last month, New York Republican Rep. Nan Hayworth filed a bill to repeal the disclosure rule calling it "burdensome," for placing an "unnecessary logistical and cost burden on all publicly traded companies," in a statement. She said that repealing the disclosure would allow companies to "direct those resources for investment and job creation."