CEO Pay Increases 23% While Middle and Lower Classes Sink

The inequality in our country often astounds me.  This New York Times article today simply confirms my worst fears about corporations profiting from the declining (precipitously declining or even collapsing might be a better description) economy.
The final figures show that the median pay for top executives at 200 big companies last year was $10.8 million. That works out to a 23 percent gain from 2009. The earlier study had put the median pay at a none-too-shabby $9.6 million, up 12 percent.
In my bankruptcy practice as a bankruptcy attorney here in Ventura County, I am seeing more and more families fall under crushing debt.  Later in the article, the Times reports:
The average American worker was taking home $752 a week in late 2010, up a mere 0.5 percent from a year earlier. After inflation, workers were actually making less.

Let's put that differential in perspective.  

The average CEO at the top 200 corporations earned 277 times the average American salary.

In the meantime, 450 people filed for Bankruptcy protection in the Ventura / Santa Barbara / San Louis Obispo areas.

Mansfield Law Office
Andrew S. Mansfield