Comment Bad Idea (Score 1) 1216
In Upstate New York State the minimum wage in $8.25 per hour, and x12 is $99 per hour or $205,920 per year based on a 40-hour work week. In theory, that is the same amount for the CEO of a super-regional bank as we as the POS community bank across the street. Same for the CEO of the auto parts store versus the CEO of Ford. How does one differentiate between a CEO managing 100 billion versus 1 billion? Or 1.8 trillion versus 1 billion. Don’t tell me it’s the market because setting the maximum pay at x12 removes the market, IMHO. I think you’d get better results by modernizing the corporate code. That is, stop treating people, executives and their boards, as untouchable unless they steal from the till. Make people responsible for more than profits and I maybe you’d have your answer.