Dear friends and members,

Today the CCPA released Timing is Everything: Comparing the earnings of
Canada's highest-paid CEOs and the rest of us by CCPA research associate
Hugh Mackenzie. The study finds that by 9:46AM on January 2nd Canada's 100
highest-paid CEOs will have reaped, on average, $38,010 in pay. That equals
the average annual earnings of workers in Canada. By 6:00 they will have
pocketed nearly $70,000. The news release for the study is pasted below.
The entire study can be downloaded from the CCPA web site at
http://www.policyalternatives.ca and at the Growing Gap web site at
http://www.growinggap.ca

With warm wishes for the new year,
Bruce Campbell

FOR IMMEDIATE RELEASE
January 2, 2007


No New Year's hangover for top CEOs

TORONTO - By 12:13 pm on New Year's Day, while many Canadians were still
nursing a hangover, Canada's 100 highest paid CEOs had already pocketed
what will take minimum wage workers the rest of 2007 to earn.

The clock keeps ticking. By 9:46 am Jan. 2, as most Canadians begin another
year of labour, Canada's 100 highest paid CEOs will have reaped, on
average, $38,010 in pay.

"That equals the average annual earnings of workers in Canada,” says Hugh
Mackenzie, research associate with the Canadian Centre for Policy
Alternatives (CCPA). "And it will take them all of 2007 to earn it.”

By the time Canadians tune into the 6:00 news Jan. 2, Canada's 100 highest
paid CEOs will have pocketed nearly $70,000. The highest paid CEO will have
pocketed more than $570,000.

"If time is money, are Canada"s 100 highest paid CEOs really worth more in
a day than most Canadian workers are in a year?” asks Mackenzie.

“People wonder what the growing gap between the rich and the rest of us
looks like. This provides us with a pretty good snapshot of how unevenly
the Canadian workforce is valued these days.”

-30-

Timing is Everything: Comparing the earnings of Canada's highest-paid CEOs
and the rest of us is availalble on the CCPA web site at
http://www.policyalternatives.ca or http://www.growinggap.ca

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