Monday, April 10, 2006

Good Morning Monday !

He gets up early about seven o’clock
The alarm goes off and then the house starts to rock
In and out of the bathroom by seven-o-three
By seven-ten he’s down stairs drinking his tea

Ray Davies, The Kinks “Rush Hour Blues”

As your alarm jars you awake this morning, just think that the CEO of your company, if it’s not you, is making approximately 700 times your salary. Compared to the 56 times the CEO was making when your dad or grandfather was working.

A CEO friend told me he does not give employees a rise every year automatically. “Has the employee improved in their position by 2-6 percent every year?” I am not sure there is any kind of measurement for that, but I would say keeping a talented and trained employee is probably worth the minimum increase every year.

The article in the Sunday New York Times Business section opens with the story of a 30-year employee who started in 1977 at $6.40 an hour and today is making $13.25 an hour. The CEO of this unconscionable company (ConAgra Foods) was given $45 million during his eight years at the helm, and was given an estimated $20 million retirement package as he walked out the door.

Those of us hustling off to the office this morning, according to the March 25 Wall Street Journal are leaving earlier. I know I am. The reasons include beating traffic to getting a jump on ever more busy days. The article says, “The shift to sunrise comes thanks to everything from heavier rush-hour traffic to BlackBerry overload that has left predawn as the last refuge for many people.”

So as we sip our coffee, tea or juice, just remember we are sleeping less, working more and watching the middle-class disappear into the gap between the rich and poor.

Happy Monday and enjoy your week!


Anonymous said...

Even accounting for inflation, that's an atrocious rate of salary increase.

Janet said...

Not only do all bosses make more, they usually make more for doing less. Now to me that's the REAL irksome part.:(

Sophie said...

when will americans wake up and smell the inequality? no other industrialized country has such a widening gap.

Anonymous said...

Not normally an Oprah watcher but she's been on this soapbox lately. She's feigning outrage regarding the working poor...she who makes $81,600 a DAY. She's becoming as insulated from reality as Michael Jackson. How can she guilt the rest of us about not doing enough to help while she continues to pay people to shelter her obscene wealth? I just needed to vent.