CEO Pay

Breaking News sent by Noni Mausa:

OTTAWA — By 10:33 a.m. Wednesday, Canada’s top 100 CEOs had already earned the same amount of money that will take the average full-time worker all year to make, according to a left-leaning think-tank.

The Canadian Centre for Policy Alternatives (CCPA) said in a report that these corporate elites made $39,998 by mid-morning Wednesday, based on an assumption of nine hours and 33-minutes worth of pay based on an average annual salary of about $8.5 million.

…

The report added that by 1:04 p.m. New Year’s Day, these CEOs had already earned what will take a minimum-wage earner all year to make.

My guess is that American top 100 CEOs didn’t have to wait until Wednesday to bring in what the average American will make over the coming year.