In 1970, average executive pay at the nation’s top companies was 28 times the average worker income, according to the Frydman-Molloy data and numbers provided by Emmanuel Saez at the University of California at Berkeley. By 2005, executive pay had jumped to 158 times that of the average worker.
Since revealing these growing disparities would be embarrassing to all and sundry, there is some serious lobbying going on to ensure that executive compensation would not be released into public domain.
A group backed by 81 major companies — including McDonald’s, Lowe’s, General Dynamics, American Airlines, IBM and General Mills — is lobbying against new rules that would force disclosure of that comparison.
The companies and their Republican allies in Congress call comparisons between the chief and everyone else in the company “useless.”
Yeah, that’s the ticket.