March 14th, 2018 
Awake Goy Del Monte Produce, makers of the beloved fruit cups present in every elementary school, paid their CEO 1,465 times more than their typical employee last year. CEO Mohammad Abu-Ghazaleh made $8.5 million, while their median employee, located in Costa Rica, made $5,833.
Del Monte had to reveal this astounding information as the result of a new regulation requiring publicly held firms to report their CEO-worker pay gaps. Corporations fought tooth and nail for nearly eight years to squelch this regulation — to no avail. Now, the American public will finally know more about the companies that dominate their lives.
We’ll now be able to know the gap between what top executives make, what their typical employees make, and, in some cases, more information on the location of their employees. In the case of Del Monte, for example, the firm report that 80 percent of their employees are based in Costa Rica, Guatemala, Kenya, and the Philippines, while the remaining 20 percent are scattered in 33 other countries.
We know all of this thanks to the Dodd-Frank financial reform bill which laid out requirements that public U.S. companies had to report the ratio between their CEO’s pay and that of the median worker. The SEC finally approved this regulation in 2015. The ratios that are just now starting to trickle out paint a disturbing picture of corporate greed.
The problem of CEOs making crazy amounts of money is nothing new. Average pay ratio levels among all large U.S. firms have been growing since the 1970s, and were around 347-to-1 in 2016 —about eight times the level back in 1980. The new pay ratio data reveals how truly wide the gaps are within specific companies.
After Del Monte, Marathon Petroleum has the second-largest pay ratio reported so far, at 935-to-1. The fourth-largest oil and gas company in the United States paid their CEO, Gary Heminger, $19.7 million dollars last year for overseeing a company making money hand over fist refining tar sands oil, polluting their neighbors, and running unsafe refineries that hurt their employees.
Marathon’s median worker made only $21,034 last year.
Source Article from https://popularresistance.org/del-montes-pay-ratio-is-largest-to-date-at-14651/
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