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If we took the 29 million the GM CEO was paid in 2021 and broke that up equally across the roughly 167,000 employees they each get an extra $173-174 dollars for the year.
They are getting paid too much but their salary isn't enough to correct the shortages in worker pay. There are other places that need to be looked at in addition to CEO pay to find the money workers deserve.
CEO pay, stock buybacks, likely a large company savings, all the C-suite executives, and more im sure.
One of the UAW's demands is $2 per employee for every 1 million in stock buybacks.
likely a large company saving
This is what should be talked about. Cash-on-hand is public knowledge of publicly traded companies.
Ford has north of $40B in the bank.
Now do that for the president, vp, directors, and board, hell the whole Suite is over payed, not just the ceo
You'll still end up giving people an extra $10 fir the week. It's bonuses, the inefficient packages made for "consultants" who are doing the job of regular employees at 3x the price. Executive pay isn't what is behind the issue here.
Sure, but the point still is valid, the difference is shameful
While the OP is about CEO to lowest employee pay, they are hardly the only overpaid people.
Even if you take the whole executive suite it isn't going to amount to much. The real areas to focus on are the perks, the projects that get handled by "consultants" that were ex-employees who did that same job for less before etc. If they really want to pay these workers it's going to make more sense togo after other things in addition to high pay.
And your point is? Obviously Reich knows this. He's talking about the way these companies are set up to funnel ridiculously disproportionate salaries to those at the top, he's not literally arguing that redistributing CEO pay will somehow magically solve the problem.
Your point is accurate, it's just irrelevant nitpicking at the cost of grasping what's really being said.