No less a capitalist than Henry Ford believed in paying his workforce enough so that the men who built his cars could buy his cars too. At McDonald’s, employees are encouraged to apply for food stamps if they aren’t making enough to eat.
If you want a glimpse of super-sized pay inequality, look no further than America’s fast-food industry.
Nowhere is company-level pay disparity more apparent than in fast food, where CEOs reportedly take home $1,000 for every $1 earned by their typical employee.
Domino’s Pizza boss J Patrick Doyle is getting too large a slice of the pie, shareholders will tell the company’s board at the fast food chain’s annual meeting on Tuesday.
The two largest shareholder advisory groups, ISS and Glass Lewis; CalSTRS, California’s $183bn teachers’ pension fund; and Change to Win investment group, which advises trade union-sponsored pension funds, have all voiced concerns about compensation at the pizza company ahead of Tuesday’s annual shareholder meeting in Ann Arbor, Michigan.
The American economy overall is ferociously unequal, but some sectors are more unequal than others. A new study from the left-leaning think tank Demos looked at CEO-to-worker compensation ratios across the labor force in an attempt to determine where inequality is most concentrated. The answer probably won’t surprise you.
