If they pass this, small businesses, in order to survive, will either become more automated, or all employees (that remain) will work shorter hours and be forced to produce twice as much in order to remain employed.
The ratio of CEO-to-worker pay has increased 1,000 percent since 1950, according to data from Bloomberg. Today Fortune 500 CEOs make 204 times regular workers on average, Bloomberg found. The ratio is up from 120-to-1 in 2000, 42-to-1 in 1980 and 20-to-1 in 1950.
“When CEOs switched from asking the question of ‘how much is enough’ to ‘how much can I get,’ investor capital and executive talent started scrapping like hyenas for every morsel,” Roger Martin, dean of the University of Toronto’s Rotman School of Management, told Bloomberg.
The findings come just one day after the S&P 500 soared to a new record, indicating that perhaps the only ones not reaping the benefits from the companies’ historic profitability are workers. Other reports have come to similar conclusions. An analysis from the AFL-CIO, the umbrella organization for many of America’s unions, found earlier this month that CEO pay was 354 times that of the average employee.
The Dodd-Frank financial reform law aimed to make it easier for the public to know how much CEOs are getting paid in comparison to their workers. The law includes a provision requiring public companies to disclose their CEO-to-worker pay ratios, but nearly three years after the law passed, the Securities and Exchange commission still hasn’t put the rule in place, thanks in part to business opposition to the proposal, according to ABC News.
Sen. Robert Menendez (D-N.J.), who authored the provision told ABC last year: “It might embarrass some companies to reveal that they pay their CEO in the range of 400 times what they pay their typical worker.”
It can be especially embarrassing when the CEO doesn’t perform. Former J.C. Penney head Ron Johnson, whose compensation was 1,795 times the average worker pay, according to Bloomberg, was recently ousted from his post after failing to turn around the struggling company.
I think 1.4 is a conservative estimate. but lets face it the Democrats don't care as long as they maintain their power. And with they rig elections - well all I can say is just hold onto your hats.
Small business has already taken a major hit from the Pandemic, and millions have gone out of business... Raise the minimum wage to $15 per hour and it will kill the few small businesses remaining... Also, wages should reflect the cost of living for the region one lives in. Those individuals in NY City and New Jersey need more than $15 per hour; while W. Virginia doesn't... and WV would see most of its small business go out of business with a $15 minimum wage
Jeff Noncent > Ronald A. Nelson COL, USA, RetiredFebruary 20, 2021 at 4:52pm
instead of raising the minimum wage why don't the Church step up and do its job by creating Jobs for its member and for the world that's what the church is there for?
Martha A Loew > Jeff NoncentFebruary 21, 2021 at 8:31am
Church creating jobs. Since when? I hate to break it to you, but most churches are corrupt as the government. Remember people like Jessee Jackson, Al Sharpton and Rafael Warnimont are reverends in some denomination and the Catholic church has pediphnle priests.
Jeff Noncent > Martha A LoewFebruary 21, 2021 at 4:05pm
yes the Church create Job because Jesus Christ himself said to Peter upon this Rock I will build my Church and the gate of hell will not prevail against it Jesus Christ did not say for the government to build the Church, in fact, the Bible said the government will be upon his shoulder we as Christian need to depend and declare GOD IS THE PROVISION FOR OUR LIFE NOT THE GOVERNMENT.
The Church is not in the business of Creating Jobs.. However, its parishioners are and the Church should be encouraging owners of Christian businesses to higher qualified Christians. Employing Christians is not just a duty to the brotherhood it is a wise move. Christian moral values and ethics produce excellent workers.
It is economically wise to higher Christians as their moral underpinnings require them to do their jobs as they would for GOD...
Replies
If they pass this, small businesses, in order to survive, will either become more automated, or all employees (that remain) will work shorter hours and be forced to produce twice as much in order to remain employed.
The ratio of CEO-to-worker pay has increased 1,000 percent since 1950, according to data from Bloomberg. Today Fortune 500 CEOs make 204 times regular workers on average, Bloomberg found. The ratio is up from 120-to-1 in 2000, 42-to-1 in 1980 and 20-to-1 in 1950.
“When CEOs switched from asking the question of ‘how much is enough’ to ‘how much can I get,’ investor capital and executive talent started scrapping like hyenas for every morsel,” Roger Martin, dean of the University of Toronto’s Rotman School of Management, told Bloomberg.
(Click over to Bloomberg to read more about the CEO-to-worker pay r...
The findings come just one day after the S&P 500 soared to a new record, indicating that perhaps the only ones not reaping the benefits from the companies’ historic profitability are workers. Other reports have come to similar conclusions. An analysis from the AFL-CIO, the umbrella organization for many of America’s unions, found earlier this month that CEO pay was 354 times that of the average employee.
The Dodd-Frank financial reform law aimed to make it easier for the public to know how much CEOs are getting paid in comparison to their workers. The law includes a provision requiring public companies to disclose their CEO-to-worker pay ratios, but nearly three years after the law passed, the Securities and Exchange commission still hasn’t put the rule in place, thanks in part to business opposition to the proposal, according to ABC News.
Sen. Robert Menendez (D-N.J.), who authored the provision told ABC last year: “It might embarrass some companies to reveal that they pay their CEO in the range of 400 times what they pay their typical worker.”
It can be especially embarrassing when the CEO doesn’t perform. Former J.C. Penney head Ron Johnson, whose compensation was 1,795 times the average worker pay, according to Bloomberg, was recently ousted from his post after failing to turn around the struggling company.
I think 1.4 is a conservative estimate. but lets face it the Democrats don't care as long as they maintain their power. And with they rig elections - well all I can say is just hold onto your hats.
Every time minimum wage gets raised ALL union wages get raise that much or more . You can look it up.
Amazon already pays $15 per hour. Their choice like it should be with other employers.
Small business has already taken a major hit from the Pandemic, and millions have gone out of business... Raise the minimum wage to $15 per hour and it will kill the few small businesses remaining... Also, wages should reflect the cost of living for the region one lives in. Those individuals in NY City and New Jersey need more than $15 per hour; while W. Virginia doesn't... and WV would see most of its small business go out of business with a $15 minimum wage
instead of raising the minimum wage why don't the Church step up and do its job by creating Jobs for its member and for the world that's what the church is there for?
Church creating jobs. Since when? I hate to break it to you, but most churches are corrupt as the government. Remember people like Jessee Jackson, Al Sharpton and Rafael Warnimont are reverends in some denomination and the Catholic church has pediphnle priests.
yes the Church create Job because Jesus Christ himself said to Peter upon this Rock I will build my Church and the gate of hell will not prevail against it Jesus Christ did not say for the government to build the Church, in fact, the Bible said the government will be upon his shoulder we as Christian need to depend and declare GOD IS THE PROVISION FOR OUR LIFE NOT THE GOVERNMENT.
The Church is not in the business of Creating Jobs.. However, its parishioners are and the Church should be encouraging owners of Christian businesses to higher qualified Christians. Employing Christians is not just a duty to the brotherhood it is a wise move. Christian moral values and ethics produce excellent workers.
It is economically wise to higher Christians as their moral underpinnings require them to do their jobs as they would for GOD...
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