“Duke Energy and Progress Energy merged. It was not good for Bill Johnson, who was the former CEO of Progress Energy because he was fired after a day, or decided to step down, as they say.
Well, don’t feel too bad for Bill Johnson because he got $44.4 million for that one day’s work.Do you know how much that comes out to? If he worked an eight hour day, which I am not convinced of, it would come out to $5.5 million per hour.
How do you like them apples?
Now CEO pay is outrageous: that’s a whole new level. In fact, when you look at CEO pay, do you know how much it is larger than that of the average worker?
Three hundred and eighty (380) times more.Now that is not how it always was. It used to be forty (40) times more than that of the average worker. Everybody knows that the CEO is going to get paid more. This is an outrageous amount more.
And in fact in the last thirty (3) years, did you know that the CEO’s pay has gone up one hundred and twenty-seven (127) times faster than your pay?
So when they say it is trickle down, do not worry, eventually it will get to you, no, not really. It does not get to you at all. It goes one hundred and twenty-seven (127) times more to the CEO.Why?
They have rigged the rules. They get to pick their own boards. The shareholders cannot even vote. They are the owners of the company.
And look at this: do you know how much it takes for a CEO to buy a gallon of milk? 0.01 seconds. For the guy that is making minimum wage, it takes a half of an hour of work.We got to fix this system.
It is broken.”