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.
*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.”