CINCINNATI — The following article was originally published in the Ohio Capital Journal and published on News5Cleveland.com under a content-sharing agreement.
Looking across the S&P 500, the average CEO earned $18.3 million in 2021 — a $540,000 increase over the prior year, according to the report. Meanwhile, their average employees earn $58,260 — a $1,303 increase. For workers, this amounts to a real wage decrease given historic levels of economic inflation.For instance, Bath & Body Works, a New Albany based company that sells various beauty products and fragrances, paid CEO Andrew Meslow $17.7 million in 2022.
More than half of Kroger’s employees are part-time workers, the company said in a financial statement. In a speech last week, AFL-CIO Secretary Treasurer Fred Redmond characterized the trend as “greedflation,” arguing corporate profit secret behavior is to blame for the inflationary economy.
Yes well but don’t forget it takes uncommon genius and education to sit at the head of the boardroom and say, “Sell them less of our product at a higher price.” Normal people just aren’t smart or talented enough to do that.