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CEOs Make 231-Times More than Average Workers

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  • Description

    FBN's Lou Dobbs on the pay gap between CEOs and workers.

  • Duration 4:53
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This transcript is automatically generated

So on average CEOs make 231.

Times more than the average worker 131 times more and that's a lot in the -- Kids would be average salary being eleven million dollars not a bad -- if he can get -- -- that is it fair.

Lou Dobbs joins us with his.

-- -- 231 times what we are my best.

The yeah.

I certainly expect to be it would only be right structure that.

You and you are paid I would assume on some sort of average fair basis right.

Yeah I don't know I don't know how do you quantify that -- -- why -- we have never been able to quantify fare well.

It did you use the word fair and in Shanghai that area and and I just have a laugh because -- quit since when did bear -- under the vocabulary -- fellow at the level that passed.

You know what is what is what works what -- -- what drives business what creates.

What innovate I mean that's what.

That's -- CEOs and their boards are expected to do by their shareholders.

231 times the average.

Pay of an employee and a corporation.

Frankly is relatively low by historical standards we've seen that harbor for years.

In the four to 500 range of top at one point is up to 700.

Is it fair I don't know you tell me is the company immensely profitable is that CEO doing great things is he -- -- driving that company forward again aligning the interest of shareholders.

With the stakeholders which include obviously importantly.

And I would -- even say.

-- primarily.

The employees of the company.

And I know there's -- question yeah I thought instead train these people down you know why can't we emulating that you look at somebody like Howard shelves -- Starbucks you grew up in public housing you look at somebody like Lloyd Blankfein read very humble beginnings as well in public housing in Brooklyn.

You know rather than -- -- say handle all of those temperatures folks who were born wealthy went to prep schools.

And then you know had inherit the business I mean that doesn't sound -- does that are.

So I'm not proponent of the occupy wall Santa keep blah and I'm not acts in this whole incoming -- reality -- that the administration's anti -- but.

It's the rate of increase is in the cases having to pay the increase is right sure -- 725%.

Income growth for CEOs Obama regularly -- only is under 60% right problem just.

Do little that is a huge disparity and if the company's growing and -- in expanding and if CEOs reaping all the rewards and the workers.

We know they've been trimming costs and laying off -- so -- I didn't I'm not and you you're gonna say that but -- you know it's I don't think.

Yeah she's getting very close economy.

Still energy and food I would never say that the -- the fact is an annual run rate of increase we're looking at a we'll -- -- -- -- that maybe that's a question why does the rate I think -- such disparity there are.

I think one of the reasons is we've gone through the worst economic reversals since the Great Depression over the course the last four years that's certainly part of it.

The secondly we have gone through and egregiously generous period of time.

Going back to the 1970s.

And which stock options restricted stock.

Converted wanted in the hired help IE CEOs management into owners.

In an effort to a lot of name.

Those interest between management.

Ownership.

And the broader shareholders also -- you section of obviously the category ownership.

So I I think there's probably been a pendulum swing that is from perhaps arguably.

Distorted somewhat in history because of all that is and so it.

The real issue here is one of the public policy is one of the business practices that are stifling.

Income growth wage and compensation growth gap up for working men and women and our middle class those are the real questions.

And those are the questions not being answered in the business media we've got in on the trifling nonsense about while what's fair what's not.

What other practices the policies that are leading to the results that which we all find you know -- -- extraordinarily troubling.

Because we want the middle class of this country growing not being pressured and to be dwindling before -- eyes.

And we want the American dream available to every single American.

That and every CEO wants that every worker wants that everyone everyone in the media wants happen.

They're reluctant to talk about the real issues they wanna go off on something called fair you know it's it's -- I feel better.

-- thanks so much I deal.

I didn't try just download the I predict a daily -- session also never cure office space clearly you can see live here everyday at the same time it's not only show.

Congress one step closer to holding attorney general in contempt over fast and furious bombshell new developments that's coming up at seven and 10 PM eastern go -- police.

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