Archive for May 26th, 2012

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According to an AP story, “The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilax executive pay research firm.

That was up more than 6 percent from the previous year, and is the second year in a row of increases. The figure is also the highest since the AP began tracking executive compensation in 2006.”

The highest paid CEO was David Simon, of SImon Property, who made $137 million last year.

This means:

*A minimum wage worker- like the clerks in his mall empire- would have to work just shy of 9,096 years to earn what Simon makes in one.

*Someone earning the national median salary of $39,312 would have to work 3,489 years.

*A minimum wage worker would have to work for nearly three years to earn what Simon makes in an hour.

*The average worker makes slightly less in one year than Simon does in an hour.

*A minimum wage worker would have to work nearly ten hours to make what Simon makes in a minute.

The words of Pope Paul VI are more timely now than ever:

“…their continued greed will certainly call down upon them the judgement of God and the wrath of the poor, with consequences no one can foretell.”

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