Today we learn that in 2007 Wal-Mart's CEO Lee Scott made a whooping $29.7 million including his salary ($1.4 million), stocks (valued at $19 million) and $8.4 million in other compensation. His total compensation is up 27% from 2006. Now assuming Lee Scott works a full time schedule, he made roughly $14,279 an hour. Considering that an average Wal-Mart worker's hourly wage is $10.84, Lee Scott is making roughly 1,317 times more than the average associate. So the next time you hear that Wal-Mart 'can't afford' to give their workers a raise, or better benefits, or to pay a few cents more for safe goods, think about the 14 thousand dollars an hour they are paying Lee Scott.

Here's the article from the Associated Press via CNN Money:

Wal-Mart CEO gets $29.7 million for 2007, up 27 percent

NEW YORK (Associated Press) - Wal-Mart Stores Inc. Chief Executive Lee Scott received compensation valued at $29.7 million in 2007, up 27 percent in a year when company profits rose 12 percent, according to a regulatory filing Tuesday by the world's largest retailer.

Scott was paid a salary of $1.4 million, up from $1.3 million in 2006. The bulk of his compensation came in options and restricted stock that the Bentonville, Ark.-based retailer valued at $19 million when they were granted.

The CEO also received $8.4 million in non-equity incentive plan compensation and $431,446 in other compensation, including $101,208 for corporate air travel and $64,874 in a deferred compensation plan.

Wal-Mart reported net income of $12.73 billion for the past fiscal year, which ended January 31. Net sales totaled $374.5 billion, up 8.6 percent from the year before.

The Associated Press calculations of total pay include executives salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

The calculations don't include changes in the present value of pension benefits, and they often differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission. Wal-Mart listed Scott's total compensation as $31.6 million.