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	<title>Minnesota Independent &#187; Daniel Murphy</title>
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	<link>http://minnesotaindependent.com</link>
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		<title>CEOs cushioned from downturn in 2008</title>
		<link>http://minnesotaindependent.com/32160/ceos-fared-better-than-workers-in-2008</link>
		<comments>http://minnesotaindependent.com/32160/ceos-fared-better-than-workers-in-2008#comments</comments>
		<pubDate>Tue, 14 Apr 2009 20:44:10 +0000</pubDate>
		<dc:creator>Paul Schmelzer</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Economy/Finance]]></category>
		<category><![CDATA[Afl-cio]]></category>
		<category><![CDATA[Atk]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Daniel Murphy]]></category>
		<category><![CDATA[Douglas Baker]]></category>
		<category><![CDATA[Ecolab]]></category>
		<category><![CDATA[Robert Ulrich]]></category>
		<category><![CDATA[Target]]></category>

		<guid isPermaLink="false">http://minnesotaindependent.com/?p=32160</guid>
		<description><![CDATA[<a href="http://minnesotaindependent.com/wp-content/uploads/2009/04/db_ceo.jpg"><img class="alignleft size-thumbnail wp-image-32162" title="db_ceo" src="http://minnesotaindependent.com/wp-content/uploads/2009/04/db_ceo-150x147.jpg" alt="db_ceo" width="150" height="147" /></a>Last year was abysmal for American workers, right? Not if you&#8217;re a CEO. Reuters reports that <a href="http://finance.yahoo.com/news/More-CEOs-got-pay-hikes-than-rb-14921297.html?sec=topStories&#38;pos=5&#38;asset=&#38;ccode=" target="_blank">more CEOs saw pay increases last year than saw pay cuts</a>. On top of that, &#8220;the median salary for CEOs of&#8230;]]></description>
			<content:encoded><![CDATA[<p><a href="http://minnesotaindependent.com/wp-content/uploads/2009/04/db_ceo.jpg"><img class="alignleft size-thumbnail wp-image-32162" title="db_ceo" src="http://minnesotaindependent.com/wp-content/uploads/2009/04/db_ceo-150x147.jpg" alt="db_ceo" width="150" height="147" /></a>Last year was abysmal for American workers, right? Not if you&#8217;re a CEO. Reuters reports that <a href="http://finance.yahoo.com/news/More-CEOs-got-pay-hikes-than-rb-14921297.html?sec=topStories&amp;pos=5&amp;asset=&amp;ccode=" target="_blank">more CEOs saw pay increases last year than saw pay cuts</a>. On top of that, &#8220;the median salary for CEOs of 200 large corporations increased by 4.5 percent to $1.08 million,&#8221; according to a new survey released Tuesday by the AFL-CIO, and &#8220;<a href="http://staging.aflcio.org/corporatewatch/paywatch/pay/index.cfm" target="_blank">CEO perks went up, on average, 12.5 percent in 2008 to $336,248</a> — or nine times the median salary of a full-time worker.&#8221; <span id="more-32160"></span></p>
<p>Coinciding with the survey&#8217;s publication, the labor organization launched the <a href="http://staging.aflcio.org/corporatewatch/paywatch/ceou/index.cfm" target="_blank">Executive PayWatch Database</a>, a searchable Web site that shows how 2008 executive compensation compares to earnings by workers in other fields &#8212; or how much CEO pay could provide in, say, health insurance. For instance, <a href="http://staging.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=ATK&amp;pg=1" target="_blank">Daniel Murphy, Jr.</a>, chief of Edina-based defense contractor ATK, raked in total compensation of $7,221,396 last year, according to AFL-CIO data,  <a href="http://staging.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=ATK&amp;pg=4" target="_blank">equivalent to the combined annual compensation of 18 U.S. presidents</a>. Ecolab CEO Douglas Baker, Jr., took home 25 percent less in 2008 than in the previous year, but his $7,157,832 compensation package breaks down to <a href="http://staging.aflcio.org/corporatewatch/paywatch/ceou/database.cfm" target="_blank">$57 made every minute</a>.</p>
<p>A big gainer: Target CEO Robert Ulrich made ten percent more in 2008 than in 2007. His <a href="http://staging.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=TGT&amp;pg=1" target="_blank">$20,106,361 package</a>, if put to other uses, could provide <a href="http://staging.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=TGT&amp;pg=1" target="_blank">health insurance for 4,724 uninsured workers or a year&#8217;s worth of daycare for 2,838 working moms</a>.</p>
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