Wednesday, November 24, 2010

On Earned Income

Obsidian Wings: the producers: "Who else makes big bucks?  C-level executives, especially in very large / very profitable corporations.

The CEOs of the Forbes 500 took home a collective $5.7 billion in 2008, the crappiest economic year in living memory.  That's $11.4 million each.  It's also 1% of total revenue and 3% of total profit of their companies.

I'd like to dwell for a second on that last stat.  One person took home 3% of total revenue, and 1% of total profit, on average, for each of the 500 most profitable corporations in the US, in 2008.

One person.

Note that these are all or almost all publicly traded companies. That means IT'S NOT THEIR F***ING MONEY."

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