CEOs make mad bank in Canada – Canadians notice

Good to see our smiling friends to the North are having their own problems with Laissez-Faire Capitalism.

From CTV.ca:

By the time most Canadians drag themselves into work on Tuesday after the holidays, the country’s highest-paid CEOs will already have earned the average employee’s annual salary.

By 9:46 a.m. Tuesday, the 100 highest-paid private-sector executives will have earned an average Canadian’s salary of $38,010, says a new study by the Canadian Centre for Policy Alternatives.

For minimum-wage workers, the country’s top earners made their entire salary average of $15,931 by New Year’s Day.

“When you say that the average CEO made $9 million in 2005 and the average Canadian made ($38,000), the comparison between those things is so far into the stratosphere that I think people have trouble just coming to terms with what the comparison means,” Hugh Mackenzie, an economist with the independent research institute that focuses on issues of social and economic justice, told The Canadian Press.

Actually, what’s most impressive is that the media in Canda has noticed. One wonders if they take it with a shrug of the shoulders like most Americans do. Hell, it probably only takes a couple hours for the top-paid CEOs in the U.S. to make the average employee’s annual salary. Yet no one makes much a fuss. And this doesn’t seem to be the type of thing that self corrects.

–WKW