Sounding the Pay Gap Alarm

Walt Barnhart profiles Ken Monfort, one of the country's lowest-paid CEOs, calling attention to out-of-whack CEO pay:

"According to a study for the Institute for Policy Studies and United for a Fair Economy, in 2007 S&P 500 CEOs averaged $10.5 million, or 344 times the pay of typical American workers. In 1981 the average pay for the top 10 U.S. CEOs was $3.5 million. Monfort found that preposterous - and dangerous.

"Tremendous monetary rewards, too often with little risk, too often while serving on eight boards of directors running three or four charities and sporting a 5 handicap, and I wonder how they can be worth so much," he said in 1987. "And how does it happen? It's simple. You hire a consultant that tells you that you are underpaid compared to your peers so you catch up and it becomes an ever increasing comparison."

Read the full article in the Denver Post.


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