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.
Notice that $13,650 is not even close to 40 hours/week. $17,500 would be pay for 2000 hours. Try as little as 22 hours/week. Try even having to be on-call. Try split-shift and part-time.
Try needing to buy groceries at your employer using a food stamp card.
Last time I shopped there was for dress shoes (emergency) Pair shoes NOT SHAPED LIKE HUMAN FEET. Shaped like a cashew instead!!!
$8.75 an hour? Hell, when I started less than a year ago, they started me out at $8.10. I don’t think I need to say that Walmart is a real crap place to work. I am actively seeking other employment.
We are experiencing the largest disparity in wealth in this country since the Gilded Age. With stories like this, the gap will continue to grow, and the Middle Class will continue to shrink.
I will never disparage one because of one’s wealth. However, I see nothing wrong with workers earning a liveable wage, and $13K doesn’t cut it. Without those earning $8.25/hr, Duke wouldn’t enjoy the perks he currently receives.
Hope this guy loses – another republican who wants to cut wages for the lowest paid workers http://tpmdc.talkingpointsmemo.com/2010/07/mn-gops-emmer-cut-minimum-wage-for-waiters.php?ref=fpb
You do know, that the Walton Children control about 100 billon dollars between the four of them ….by them selves…what is 35 million compared to that?…but when you get unregulated markets and tariffs all your life you probably feel you are entitled to them…I can’t stand the Wal Mart Model of doing business…I will never shop in one….I have a hard time going into many of the big box stores but, Wal Mart takes the cake for me….