On Tuesday The [Lowell] Sun had a front page article, "UMass salary spurs protest". While the former President of the UMass System, Mr Jack Wilson, wouldn't have been in the top 1% in Lawrence, he would have been in Lowell, with his salary of $425Gs. And, he is getting that salary during his one year sabbatical, before he comes to UMass Lowell to teach, for only $261,000 pa. The "Top 1%" isn't just Wall Street scoundrels. It is more ordinary people, earning less that $1,000,000 per household per annum. Funny, that isn't how I envisioned it.
More interesting, per Sunday's New York Times, nation wide, you have to earn more than $380,000 (household income) to be in the top 1% Mr Wilson is in by about $45,000, which is just under the $50,000 median income of the famed 99%.♠
For Lowell, the number to put you in the top 1% is $336,000.
Not mentioned in the article, by Reporter Chris Camire, is that Adjunct Professor Nural Aman and others are represented by the UAW, a Labor Union. There is nothing wrong with that and maybe something good (we will have to ask George Anthes some time on "City Life"). I raise the point because the story is incomplete.
Regards — Cliff
♠ I am guessing that number would be a lot lower if it was the bottom 90%, rather than the bottom 99%.
10 months ago