Fast Food CEOs Make 1,000 Times More Than Their Typical Workers: Report
David Novak, the CEO of YUM! Brands, which owns Taco Bell and KFC, took home more than $22 million last year after exercising stock options, according to proxy statements. The average full-time fast-food worker, by comparison, would have made about $19,000 on the year. [...]
The CEO-to-worker pay ratio at YUM! is just one example of the yawning income inequality found throughout the fast food industry, according to a new report from Demos, the progressive think tank, entitled "Fast Food Failure: How the CEO-to Worker Pay Disparity Undermines the Industry and the Overall Economy."
"It's true in many industries but fast food is the primary example: The gains from economic growth are being entirely awarded to people at the top of the income scale," Catherine Ruetschlin, author of the report, told HuffPost. "It's not a surprising finding that it's the worst industry within the worst sector, because that's where we're seeing the cracks forming."
Sign up for our emails to stay updated on what we're doing and how you can help.