A quick teaser post of an article I wrote for work. For the full article go to http://www.workingwa.org
The economy is doing great, if you’re a CEO. Last year Chase Bank CEO Jamie Dimon made $20 million dollars in executive pay and bonuses. That’s 925 times more than the average worker at Chase. His earnings and many other CEOs pay have risen sharply over the last few years. Meanwhile the average worker has seen their pay stagnate and their real earning power has actually decreased, but CEOs don’t want you to know that.
According to an article in the Seattle Times, CEO’s from 81 major companies are fighting now to stop legislation that would require them to compare their salaries with the salaries of their workers. They do not want to disclose how much of a gulf there is between those of us fighting to stay in the middle class, and the privileged few. Some companies pay their executives up to 400 times what the average worker makes. No wonder they want to keep that a secret.