Via Beyond the Chron: CEOs to Workers: More for Me, Less for You
Minimum wage workers
CEOs to Workers: More for Me, Less for You Big company CEOs got a 23 percent raise last year and corporate profits are at record highs. But the minimum wage has less buying power now than in 1956 - the year Elvis Presley first topped the charts, videotape was breakthrough technology and the Dow closed above 500 for the very first time.
It’s no accident wages are down while corporate profits are up. As JPMorgan’s July 11 "Eye on the Market" newsletter put it, "Reductions in wages and benefits explain the majority of the net improvement in [profit] margins - US labor compensation is now at a 50-year low relative to both company sales and US GDP." [more]->
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