Last week, the CCPA revealed that the top 100 CEOs in Canada earn, on average, $7.96 million a year -- or 171 times more than the average Canadian worker.
Business executives have a responsibility to contribute to a less divided Canada, at a time when the rich are getting richer and the middle-class is losing its share of the economic pie.
Today the CCPA released its annual look at CEO compensation, and found that by noon on January 3rd, Canada's Elite 100 CEOs will have already pocketed $44,366.
We all know that the wages and compensation individuals receive in private competitive markets reflects their productivity, unless pesky unions and government regulations get in the way.
Despite a serious economic downturn, the business elite earned far more than the average Canadian in 2009. It takes a CEO just a few hours to make what it takes the rest of us a year to earn.
With the top 50 CEOs making 219 times the pay of the average worker in 2009, their compensation has little to do with their ability and everything to do with their positions as the ruling elite.