Tagged: income

Detroit has the third highest average annual income out of the 51 largest metropolitan areas in the country.

Shocked? Let me explain.

Forbes Magazine and the Praxis Strategy Group re-ranked the incomes in these 51 cities after adjusting for cost of living. Not surprisingly, it turns out a dollar goes a lot farther in Detroit than in, say, New York City or Boston.

A report from the Institute for Policy Studies looked at CEO compensation from the 50 companies that layed off more workers during the recession. They found the CEOs at these companies are paid more, on average, than the average pay for the CEOs running to top 500 companies in the U.S. (S&P 500).

Sarah Anderson is the lead author of the report.  She says,

"CEOs are squeezing workers to boost short-term profits and fatten their own paychecks."