Michigan's economy is crumbling, while its executives get richer
May 04, 2007
How do you send a message to Michigan's top executives that they are getting paid too much?
Read this story in today's Detroit News about how the most highly paid executivess at Michigan's publicly traded companies had their average compensation bumped up by 88 percent over 2001.
The average compensation was $7.1 million.
Chew on this from the Detroit News story a little bit and then share your thoughts:
- The average weekly compensation of a Michigan Fortunate 50 member is 174 times that of what the average Michigan worker collected in 2006, $784.34 a week.
By contrast, Mulally's (Ford CEO) 2006 package worked out to $541,990 a week over a year, while Manoogian earned $332,560 weekly.
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