The media seems to thrive on establishing polarization within our United States. I have written letters previously on this subject. The May 28 edition of this newspaper is another example as to how information is emphasized in a misleading way.
On the front page, in the promo space on the top of the page, was the following: “Doing very well. CEOs got an average $10.5M pay raise last year. Nabors Industries Anthony Petrello was highest paid at $68.2M./9A.” To someone who didn’t get a raise last year, may not have had a job or was living on a fixed income, such an increase as $10.5 million is bound to get his blood boiling.
But if the reader took the time to read the reference on page 9A he might get a different perspective. The article is titled: “Stock market boosts CEOs’ median pay.” In the second paragraph: “The head of a Standard & Poor’s 500 company earned a record $10.5 million, an increase of 8.8 percent from $9.6 million in 2012 ...” The year-to-year increase was $900,000 which is a far cry from $10.5 million cited on the front page. This is still a big number to those listed earlier who did not get a pay raise.
So would your editorial staff explain which of these two articles are correct?
And before we run out and tar and feather Petrello, the page 9 article explains that “... Petrello’s pay ballooned as a result of a $60 million lump sum that the company paid him to buy out his old contract.” Sounds familiar doesn’t it. This is something like what happens in professional sports when a team buys out a player’s contract.