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Executive Compensation
U.S. top corporate executives pay as a multiplier of their average employee pay in 1975: 40 times.
U.S. top corporate executives pay as a multiplier of their average employee pay in 1995: 200 times.
Reference: New York Times, Feb 26, 1996.
U.S. top executives pay as a percentage of corporate profits in 1953: 22%.
U.S. top executives pay as a percentage of corporate profits in 1987: 61%.
Reference: The End of Work, Jeremy Rifkin, Putnam, 1996.
Gap Between Rich & Poor
Portion of the wealth created 1983-1992 in the US received by richest fifth of the population: 99% Reference: US Labour Secretary and Harvard Economist Robert Reich, reported in The International Herald Tribune, Jan 22, 1997.
Income of wealthiest 10% of Canadian families compared with poorest 10% in 1973: 21 times higher
Income of wealthiest 10% of Canadian families compared with poorest 10% in 1996: 314 times higher
Reference: Georgia Straight, April 22-29, 1999
Increase in the disposable income of the richest 10% of Britains from 1979-1991: 62%
Of the poorest 10%: 17%.
Reference: The Undeclared War: Class Conflict in the Age of Cyber-capitalism, James Laxer, Viking 1998.
1997 combined personal assets of the three richest people in the USã Bill Gates, Warren Buffet and John Walton (and family)ã $94 billion
Number of the poorest people in the US that have combined financial assets less than the three richest: 100 million
Reference: Forbes Richest 400, 1997 edition, and Money: Who Has How Much and Why, Andrew Hacker, Scribners, 1997
Personal assets in 1996 of the three richest Canadians, Kenneth Thomson, Arthur Irving (and family) and Charles Bronfman: C$18.6 billion.
Reference: Financial Post
Child Poverty
Increase between 1989 and 1996 of the number of children living in poverty in Canada: 58%
Portion of the 1.5 million Canadian poor children in 1996 who had at least one parent employed full-time: 30%
Reference: 1997 Report Card, Campaign 2000 for the Elimination of Child Poverty.
Decrease in real median incomes for young US families (parents under 30) between 1973 and 1994: -33%
Decrease for young black families the between 1973 and 1994: 46%.
(For comparison: decrease in per capita income during the great depression 1929-1933: 27%.)
Reference: "Rescuing the American Dream: Halting the Economic Freefall of Young Families with Children," Children's Defense Fund, 1997.
Southam/Hollinger
Jobs cut at Southam from 1992 (when Conrad Black became co-controlling shareholder) through 1997 2115 (27%)
Reference: Southam Annual Reports
Conrad Black's executive compensation from Hollinger in 1997: $5.8 million
Reference: CHUM Radio, April 27, 1998.
Value of Conrad Black's portion of the December 1998 Southam special dividend to shareholders of $530 million (through 50% ownership of Hollinger): $189 million
Reference: The Globe and Mail, Dec 3, 1998 and Shades of Black, Richard Siklos, Reed Books, 1995.
Value of Conrad Black's portion of April 1997 Hollinger special dividend of $140 million for its shareholders, received $70 million.
Reference: The Globe and Mail, April 23, 1997 and Shades of Black, Richard Siklos, Reed Books, 1995.
Globalization
Jobs cut between 1986 and 1996 at 33 of the largest companies in the Business Council on National Issues (BCNI), the Canadian free trade lobby group: 216,000 (35%).
Increase in their revenues during the same period: 34%.
Reference: Monitor, The Canadian Centre for Policy Alternatives, October 1997.
Total number of Indonesian workers making Nike shoes who had combined earnings less than Michael Jordon's $20 million Nike endorsement fee in 1992: 30,000
Reference: No Sweat, ed. Andrew Ross, Verso, 1997.
Number of poorest countries in the world that the ten largest global corporations had a combined income greater than in 1994: 100.
Reference: UN Human Development Report, 1997.
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