Disparity between CEO salaries and workers is getting out of hand, says writer
I have worked in business management all my life but I want to express my feelings of how much CEO greed is harming middle class America’s dreams. I read a recent statistic that the American CEO’s compensation is up to 475 times that of their company’s average worker. Many Americans work long hours and still can’t earn enough to pay their rent/mortgage, afford college for their children and purchase necessary health insurance. Most families require both parents to work or have second jobs. This, in turn, reduces the quality time parents spend raising their children.
Guess what? CEO’s are NOT going to change this system on their own accord. Politicians are NOT going to bite the hand that feeds them. We, the American people, have to do it for them. I’ve heard many people complain about this issue but nothing ever seems to get done. I am proposing one idea to rectify this problem.
Suppose we set up a panel or committee made up of former business leaders or retirees to track specific businesses and their ratio of CEO pay (including stock options and bonuses) vs their average worker? This information is readily available on many websites. If company “A” CEO’s ratio is 400 to 1 and competing companies “B, C & D” are lower, we can boycott company A’s product until adjustments are made. Or, if all CEO compensation within a specific industry is beyond acceptable levels (for ex: 100 to 1) we can boycott. This may not work in every instance but we can we lose by trying?
If this succeeds in one case, CEOs may begin to get the message and adjust the problem before it’s forced upon them. We must let these business “leaders” know exactly how we feel and hit them where it hurts.
The American public and consumer has tremendous power and influence if we harness it properly.
Valentino Ferro