Corporate CEOs are literally hoarding their company’s cash—except when it comes to their own paychecks. The AFL-CIO reports that, according to the Federal Reserve, U.S. corporations held a record $1.93 trillion in cash on their balance sheets in 2010. But they are not investing to expand their companies, grow the real economy or create good middle-class jobs.
Using the AFL-CIO’s newly launched database called "Executive PayWatch," you can find out the inordinately high salary levels of CEOs in hundreds of corporations. This robust site also will compare those salaries with the average worker’s (or other job category). You can learn, for instance, that the art of keeping fruit fresh has a much higher value than keeping young minds educated: Tupperware’s CEO made almost $12 million last year. That’s 163 times more than a postsecondary business teacher makes. (And if you’re a food preparation worker, the ratio jumps to 627 to 1.)
As part of PayWatch, the AFL-CIO is encouraging activists to tell their members of Congress not to weaken Wall Street reform. Click here to take action and spread the word.
You also can display a PayWatch app on your Facebook site that will compare the salaries of nurses, secretaries and others with those of six CEOs. Get the app here.
Click here to find other ways to spread the word. [AFL-CIO, Priscilla Nemeth]
April 20, 2011