Friday, January 02, 2009

earning money

The Canadian Press carries this story:
A new analysis by the left-leaning Canadian Centre for Policy Alternatives concludes the country's richest corporate executives will have pocketed an average of $40,237 by 9:04 a.m. Friday morning.

"By the time your computer has finished booting up on your first day back after the New Year's holiday, the average CEO would have already banked what took the average Canadian worker an entire year's worth of work to earn," the report states.

"Many of the top 100 include Canada's big bank CEOs, who recently received billions in federal government bailout money to purchase mortgage loans."

Prepared by economist Hugh Mackenzie, the report finds the top 100 CEOs of publicly traded corporations averaged more than $10 million in pay apiece in 2007, the last full year for which figures are available.

Some facts about the top 100 Canadian CEO earnings (figures based on 2007 unless otherwise noted):
  • Average annual CEO earnings: $10,408,054
  • Increase over previous year: 22 per cent
  • Average annual pay for Canadians: $40,237
  • Number of CEOs to earn total income of Nunavut: 25
  • Point at which CEO earns annual salary of average Canadian: Jan. 2, 9:04 a.m.
"A lot of the CEOs have a compensation formula that still compensates them wonderfully while they're not creating value or even destroying value - laying off people and the like."
Roger Martin, dean of Rotman School of Management.

Kind of makes me sick... I gues we should start paying more for bank service fees, and telecom fees and all sorts of fees... only 22% salary increase... what a shame!

It's time to start speaking out, time to do something... this is criminal.

1 comment:

Walking Church said...

We may want to now call Pastor's - CEO's...they would get more money!

I am more convinced that true Spiritual Men/Women of Jesus are not valued least expressed in human quantitative salary terms.

God's payroll is unlike human understanding or value.