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Monday, July 4, 2011

Corporate Pay Way, Way Up… Average Pay Not So Much

JUL 3
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Andre Tartar for New York Magazine is reporting that:
A study of executive pay commissioned by the New York Times and published yesterday reveals that those at the very top of the economic food chain seem to have moved on from the doldrums of the Great Recession. The number crunchers found that median pay last year for top executives at 200 of the country’s biggest companies was close to $11 million, a 23 percent jump from 2009. (Interestingly, many of the most generous pay packages went to the CEOs of media companies, with the head of Viacom topping off the list with an $84.5 million take.) All this at a time when the unemployment rate is flirting with the double digits and the average American’s wages are flatlining — the Bureau of Labor Statistics says median weekly pay during the fourth quarter of 2010 was up just 0.5 percent from the year before.
Read more at Common Dreams

Posted by USuncutMN at 11:50 AM
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