Last fortnight the Securities & Exchange Commission released figures showing that 89 executives of General Motors, each receiving at least $20,000 a year, made nearly $3,000,000 in 1934 (TIME, Dec. 16).
Last week the Automobile Manufacturers Association reported that 3 20,000 workers in the automobile industry will this year receive $411,000,000, nearly 30% more than they were paid in 1934. Average wage per hour is 76ยข, higher than in 1929, and average earnings per week worked are $26.99. Passenger car sales in November totaled 215,000 units, biggest November in the industry's history. But by...
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