CEOs get filthy rich by exploiting workers
“Executive pay on the rise again.” This article in The News on June 29 hopefully upsets many people in the Buffalo area. Twenty-five out of 56 executives at Western New York’s publicly traded companies received a 10 percent increase in total pay. National Fuel Gas had four executives hauling in over $1 million and Sovran Self Storage had six executives receiving over $1 million.
How can these executives sleep at night realizing that the average hourly pay for their hard-working employees, adjusted for inflation, slipped 0.1 percent in May? I hope these 56 executives living in Western New York read the article carefully and start thinking about their hard-working employees, who certainly did not get a 10 percent increase in pay.
Our politicians need to develop some policies that would limit the pay increases for executives and increase the wages of our workers who are responsible for making the companies succeed. Without these workers, the executives would not be getting annual salaries of over $1 million.