This is an interesting comparison to judge the runaway executive salaries in this country. It turns out that Walmart CEO Michael Duke’s $35 million annual salary constitutes an hourly wage equal to the annual salary of the average Walmart employee.
New Walmart employees are paid $8.75 an hour — a gross salary of $13,650 a year. Thus, over a single lunch, Duke makes the yearly salary of one of his workers.
Walmart director of community affairs Steven Restivo sees nothing wrong with such a hefty salary: “I don’t think Mike Duke needs, as the CEO of a Fortune 1 company, needs me to defend his compensation package.”
The Institute for Policy Studies recently released a report stating that CEOs in the country’s top 500 companies make, on average, 319 times more than the average American worker. That is up from 30 to 1 in the 1970s.
This is a video of one of The Duke’s employee picnics:
Source: ABC.
http://www.hillbillyreport.org/diary/1699/rand-paul-and-the-right-to-work-for-less I wonder if he is going to help or hurt his father’s presidential chances.
“As much as this is unfair and unwarranted, this is still better than the ‘gubmit’ telling people what and how much they can make.”
the ‘gubmit’ IS telling people what and how much they can make.
It hasn’t been a free market for a long time. It is the ‘gubmit’ that squelches a lot of free trade by demanding inequity in how we do business. By laying on burdens and burdens of paperwork and requirements that are impossible to meet, lots of nurses end up working for private’ for=profit agencies or entities. The ‘oversight’ for medi-caid and medicare driven systems is ridiculous and oversight for private4profit medical anything is lacking. Add in the current fear driven litigation frenzy, WYSIWYG…our current healthcare ‘system. Seriously amok
And to just remove any and all oversight or presence is not only impossible it would be ridiculously damaging.
It is not really a free market.
As much as this is unfair and unwarranted, this is still better than the ‘gubmit’ telling people what and how much they can make.
Growing up, I used to think it unfair that a acid-high rocker made much more money than a dedicated brain surgeon, but I still preferred that to bureaucrats setting wage scales.
As Buddha suggests, oppose this with your wallet, although you will most likely be hurting the minimum wage ‘Mall-Wart’ worker instead.
Whatever the free-market will bear…
No apology required, Blouise.
As ever, one lives to be of service.
Buddha Is Laughing
1, July 3, 2010 at 9:05 am
Oooo.
I’ve been quoted.
In the words of Stimpson J. Cat, “Joy!”
But the best part is that I can stand by my statement much like Marie could stand next to her own head.
Until the the oxygen runs out.
Reason # 43 for not shopping at Wal-Mart.
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Thank you … I couldn’t remember who made the statement but it was pithy and on target so I should have known … my apologies for not giving you full credit.
You all should watch John Stossel’s video segment on “Greed”.
It will enlighten you to some things about top corporate salaries you did not know.
And Duke keeps making this despite Wal-Mart’s weakening sales figures. The usual libertarian canard is that CEOs are the “most productive” people, except they’re not.
Oooo.
I’ve been quoted.
In the words of Stimpson J. Cat, “Joy!”
But the best part is that I can stand by my statement much like Marie could stand next to her own head.
Until the the oxygen runs out.
Reason # 43 for not shopping at Wal-Mart.
“Hurricane GOP on the way” http://www.nationaljournal.com/njmagazine/cr_20100630_6929.php
Unfortunately it seems to be working for these folks still. Unions are on the decline. The Supreme Court favors corporations. The people that are in rebellion are the tea party folks who favor corporations. Their taxes are going up a little next year so they are selling the stock market and complaining but they already have accumulated so much cash that they are untouchable in many ways and they refuse to hire new workers. The new crop of republicans coming in in the fall will be even more corporate friendly than the blue dog democrats they replace.
Blouise,
How would you like your cake?
To quote an earlier poster from many months ago:
“Elitism works, until it doesn’t. Just ask Marie Antoinette.”
Where do I apply. But not all is good for the old CEO he go transferred to the E-commerce as people are not shopping at walmart as much. They have choices to make. Food or Housing, Gas or Insurance. Choices, real life choices…..