Friday, September 01, 2006

Labor Day, 2

We continue our reflections on Labor Day with this article comparing the salaries of some CEOs with those of army privates.
As soldiers have died in displaying personal patriotism, the pay gap between soldiers and defense CEOs has exploded. Before 9/11, the gap between CEOs of publicly traded companies and army privates was already a galling 190 to 1. Today, it is 308 to 1. The average army private makes $25,000 a year. The average defense CEO makes $7.7 million.

The entire article is worth reading, and we will follow it tomorrow with some comments on executive compensation and Catholic social teaching.