TV News LIES

Friday, May 29th

Last update02:58:01 AM GMT

You are here News Economy CEO pay soars while workers' pay stalls

CEO pay soars while workers' pay stalls

E-mail Print PDF
Bureau of Labor Statistics

The heads of the nation’s top companies got the biggest raises in recent memory last year after taking a hiatus during the recession.

At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010 as the executives’ compensation started working its way back to prerecession levels, a USA TODAY analysis of data from GovernanceMetrics International found. Workers in private industry, meanwhile, saw their compensation grow just 2.1% in the 12 months ended December 2010, says the Bureau of Labor Statistics.

Two years of scaling back amid tough economic times proved temporary as three-quarters of CEOs got raises in 2010 — and, in many cases, the increases were substantial.

The sizable pay hikes came even though the economy’s recovery remains frail, unemployment is high and corporate profits last year were roughly flat, up 1.5%, from where they were in 2007 when the stock market peaked.

Says Kevin Murphy, professor of finance at the University of Southern California, “We have the recipe for controversy over CEO pay: big increases in CEO pay that show up following run-ups in stock prices coupled with high unemployment rates.”

More...



Most Recent Related Stories...


BlackBerry cuts jobs worldwide as it consolidates businesses

Blackberry cutting jobs worldwideCanadian smartphone maker BlackBerry Ltd is cutting jobs across the world, the company said on Friday,...

12 percent jump in homelessness in LA County

LA homelessThe number of homeless people in Los Angeles County jumped 12 percent in the past two...

Sharp announces $1.86 billion loss, plans thousands of job cuts

Sharp electronicsJapanese electronics giant Sharp on Thursday said it was cutting thousands of jobs in a fresh...

I am a cook in the US Senate but I still need food stamps to feed my children

Bertrand OlotaraBertrand Olotara has two college degrees, works two jobs and is on public assistance.The 44-year-old divorced...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!