The money will roll right in
Every year, the folks at the Washington, D.C.-based Institute for Policy Studies team up with their cohorts at United for a Fair Economy, also based in D.C., to produce “Executive Excess,” a report on how CEO salaries are increasingly out of step with the pay of the average worker. This year, the report includes a special section on war profiteering and the pay gap between GIs and civilian defense contractors.
Average annual CEO pay at the top 367 U.S. corporations in 2004: $11.8 millionRatio of CEO pay to that of the average production worker in 2004: 431-to-1
Ratio of CEO pay to that of the average production worker in 1990: 107-to-1
Hourly minimum wage today, had it risen as fast as CEO salaries: $23.03
Number of women among the 150 highest-paid CEOs since 1990: 0
Number of non-white males among the above: 1
Average CEO pay increase in 2004: 7 percent
Average CEO pay increase for top defense-contractor CEOs in 2004: 200 percent
Ratio of median pay for defense CEOs vs. military generals: 23-to-1
Ratio of median pay for defense CEOs vs. Army privates: 160-to-1
Pay of David Brooks, CEO of bulletproof-vest contractor DHB Industries: $70 million
Number of DHB vests recalled as ineffective by the U.S. Marine Corps: 5,277
Pay of Halliburton CEO David Lesar in 2004: $11.4 million
Amount government auditors suspect Halliburton overcharged in Iraq: $1.4 billion
Percentage of U.S. contracts in Iraq granted to Halliburton: 52