"Exorbitant CEO pay packages have drawn criticism from investors who say they too often coincide with lackluster performance and declining stock prices. They also are a hot-button issue with workers who point to studies showing U.S. income disparity is widening.
"The Institute for Policy Studies, a progressive think tank in Washington, D.C., notes that if the minimum wage had risen at the same pace as CEO pay since 1990, it would be worth $22.61 an hour today. Instead, the federal minimum wage will rise to $5.85 July 24, the first increase in a decade.
"'We'd like to have more of a level playing field," said Washington state Treasurer Michael Murphy. "Yes, we do want to compensate CEOs, but not to the point that it's hundreds or even thousands times more than the rank and file."
"Murphy is a member of the Washington State Investment Board, which manages the investments of more than 35 public funds with $79 billion of assets. He supports the "say-on-pay" [awaiting US Senate passage] proposal as a way "to get back to normalcy."
No comments:
Post a Comment