Vail Daily letter: Pay inequities
August 21, 2013
In most states the minimum wage is $7.25 per hour. No one can seriously claim that's a living wage for a single person and cetainly doesn't leave room for any contribution to famiy support.
Fast-food restaurants contend they couldn't possibly stand an increase in the minimum wage or the cost of providing health benefits to their workers who are the backbone of their industry. That's patently untrue as they remain in business in the states with higher minimum wage laws, including Connecticut at $8.25 per hour and scheduled to go to $9 in 2015, and across the continent, California at $8. At last report Mickey D was flourishing in both states.
Mickey's President James A. Skinner is retiring this year, so the board saw him off with a nice little compensation package of $27,741,408. Over the past 4 years he has averaged $7,500 per hour and he and his board can't find it in their heart to pay their workers more than $7,25 per hour?
How do you spell greed-avarice?
Of course, in addition Mr. Skinner also receives other perks such as use of company jets and he and his wife receive a complete physical each year at company expense, but the company can't afford medical care for the front line employees.
How long before our lawmakers emulate Switzerland and adopt a law limiting executive pay to no more than 12 times that of the company's lowest paid employee. Bet that would make an increase in the minimum wage possble!!