Friday, July 2, 2010

Good question: How can Walmart's CEO sleep at night?

A Chicago alderman points out that Walmart's CEO will earn more in an hour than his workers will earn in a year, ABC News reports.

By Ed Smith's math, the CEO of Walmart earns more in an hour than his employees will earn in a year.

Smith, an alderman in Chicago, presented posters at a city council meeting showing that Walmart CEO Michael Duke's $35 million salary, when converted to an hourly wage, worked out to $16,826.92. By comparison, at a Walmart store planned for the Windy City's Pullman neighborhood, new employees to be paid $8.75 an hour would gross $13,650 a year.