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News Note: Is Frank Stronach 688 years old?
Magna CEO attributes longevity to not smoking, not drinking and working long hours at minimum wage. And it must be working, because he doesn't look a day over 687.
CCPA / CALM - Auto parts magnate Frank Stronach has tried to justify his $43.2 million salary (the highest in the country) by saying he's smart, and he's worth it. He recently made the following claim: "If I added up all the hours I've spent working over the past 40 years, I probably haven't made much more than the minimum wage."
Is this possible? Or is it just hyperbole? Let's do the math.
Stronach hard at work at his minimum wage job |
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At the highest minimum wage in Canada ($7 an hour, in British Columbia), it would take Stronach - even if he could work 24 hours a day, every day of the year - 688 years to earn $43.2 million! He doesn't look that old.
To view it another way, if the Magna International CEO had worked every hour of every day for the last 40 years, his $43-million-plus salary would amount to about $123.20 an hour.
Maybe Stronach can tell us where he finds a minimum wage like that. We'll gladly pass the information along to those who now have to settle for $7 an hour, or less.
From www.calm.ca/humour.html.
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