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CEOs Who Makes Hundreds Of Times What Their Workers Do

Even though the gap between executive and entry-level worker pay has shrunk ever so slightly in the past couple of years, it’s still not unusual for the CEO of a large public company to earn more per day than some of his employees earnover the course of an entire year.

Fifteen examples:

CVS Caremark (CVS)
Thomas M. Ryan: $30.4 million (2009 Compensation)
Starting Cashier: $8/hour, $20,800/year
One CEO = 1,461 entry-level employees

AT&T (T)
Randall Stephenson: $29.2 million (2009 Compensation)
Starting Sales Associate: $10/hour, $26,000/year
One CEO = 1,123 entry-level employees

Read more…

via 247wallst.com

It does not need to be this way. One example is Steve Jobs whose annual salary as CEO of Apple is $1.

It is the Board of Directors and the Shareholders of these companies that allow this to happen. If ever there was an indication that we live in a class-based system this is it.

Filed under  //  business   economics  
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Ford Said to Plan End of Mercury After Seven Decades (Update1) - BusinessWeek

Ford Motor Co. is preparing to wind down the Mercury line, created in 1939 by Edsel Ford, after sales plunged 74 percent since 2000, said two people familiar with the plan.
via businessweek.com

What took them so long?

Filed under  //  Auto Industry   business   Ford   Mercury  
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Scientists Create First Synthetic Cell - WSJ.com

Heralding a potential new era in biology, scientists for the first time have created a synthetic cell, completely controlled by man-made genetic instructions, researchers at the private J. Craig Venter Institute announced Thursday.

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0520live2
Tom Deerinck and Mark Ellisman, National Center for Microscopy and Imaging Research, University of California, San Diego

Scanning electron micrographs of M. mycoide

"We call it the first synthetic cell," said genomics pioneer Craig Venter, who oversaw the project. "These are very much real cells."

Created at a cost of $40 million, this experimental one-cell organism, which can reproduce, opens the way to the manipulation of life on a previously unattainable scale, several researchers and ethics experts said. Scientists have been altering DNA piecemeal for a generation, producing a menagerie of genetically engineered plants and animals. But the ability to craft an entire organism offers a new power over life, they said.

via online.wsj.com

Is this a good idea? One only needs to look at the oil spill in the Gulf to recognize the hubris with which we approach technology. What is the equivalent disaster for synthetic cells?

Filed under  //  business   science  
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