Tuesday, August 31, 2004


CEOS SHIP OUT JOBS, RAKE IN DOUGH: According to a study on
executive compensation being released today, "Chief executives of U.S.
companies that outsourced the greatest number of jobs reaped bigger pay
and benefits last year
." The U.S. Institute for Policy Studies and the non-partisan United
for a Fair Economy found in their study of executive salaries that CEOs
of the leading outsourcing companies earned $10.4 million last year, 28
percent more than the $8.1 million average CEO compensation. Paychecks
of CEOs
at 50 U.S. firms outsourcing the most service jobs jumped by an average
of 46 percent, compared to just a 9 percent average raise among CEOs at
the 365 big companies overall. The study calculated that the "U.S.
minimum wage would be $15.76 an hour, instead of the current $5.15 an hour
if workers' wages had gone up as much as CEO pay has since 1990." Check
out American Progress's graphic illustration
(http://www.americanprogress.org/site/pp.asp?c=biJRJ8OVF&b=139507) of
our "upside-down economy."