CEO Pay Up Big 2010, Not So Much For the Average Worker (I hope Obama is paying attention)

[Cali_Democrat]

So when is this going to trickle down to the average American?

http://finance.yahoo.com/blogs/daily-ticker/good-king-ceo-pay-big-2010-not-much-20110411-085325-820.html?sec=topStories&pos=main&asset=&ccode=

It’s Good to Be the King: CEO Pay Up Big 2010, Not So Much For the Average Worker
By Peter Gorenstein | Daily Ticker – 3 hours ago

Life is good at the top of corporate America. CEO pay rose 12% last year, bringing the average compensation to $9.6 million in 2010, based on a report and study done by NY Times. That's definitely a lot of money at a time when middle class wages haven't increased for a generation and unemployment remains near 9%.

The highest paid CEO in the U.S. last year was Viacom's Phillipe Dauman who raked in $84.5 million, thanks to one-time stock awards. Ray Irani of Occidental Petroleum follows on the list with $76.1 million, a 142% pay increase over 2009. Oracle's Larry Ellison, who was displaced at the top of the list this year, took a pay cut but still brought home $70.1 million. (He also remains the third-richest American, with a net worth of $39.5 billion, according to the Forbes annual list of billionaires.)

<snip>

With executives like Tillerson the others on the list, the gap between U.S. CEOs and average worker pay is widening. The average private sector worker saw their compensation grow just about 2% in the last year. The good news is shareholders now have more "say on pay" because of the Dodd-Frank bill. Whether they exercise their rights and restrict CEO in a major way is yet to be seen.

Read more...http://finance.yahoo.com/blogs/daily-ticker/good-king-ceo-pay-big-2010-not-much-20110411-085325-820.html?sec=topStories&pos=main&asset=&ccode=

Factor in inflation (real inflation, not Ben Bernanke's core inflation boondoggle) and the average American is getting poorer.

[Duer 157099]

1. It's because they work millions of times harder than the rest of us

:sarcasm:

[FiveGoodMen]

2. Paying attention?!

He's backing it every step of the way.

Damned right, he's paying attention.

(Helping us? Not so much)

[Initech]

3. These motherfuckers get 142% raises. I haven't seen an extra dime in four fucking years.

It's not right!!! :grr: :mad: :argh:

[Newest Reality]

4. I think the OP's title could use a literal boost:

"CEO pay takes a shuttle to new galaxies while the average worker gets a bottle rocket or two."

[doc03]

5. Apparently not, the word is he is on board the cutting SS

bandwagon. Tune in Wednesday for his budget proposal.