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How Many Firefighters Does It Take to Pay a CEO?


By FZ - Posted on 28 April 2011

Originally posted at AFL-CIO Executive Paywatch:

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. Corporate CEOs are literally hoarding their company’s cash—except when it comes to their own paychecks.

In 2010, Standard & Poor's 500 Index company CEOs received, on average, $11.4 million in total compensation— a 23 percent increase in one year.[1] Based on 299 companies’ most recent pay data for 2010, their combined total CEO pay of $3.4 billion could support 102,325 median workers’ jobs.[2]

Fortunately, the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act contains new tools to help limit runaway CEO pay.  Shareholders now have a “say-on-pay” vote on executive compensation, and companies must disclose the ratio of CEO-to-worker pay at each company.

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