Yahoo Finance's Brad Smith breaks down today's leading headlines on Amazon, CEO pay, and the Yankee's Aaron Judge hitting a record-breaking home run.
BRAD SMITH: Amazon has stopped selling its video calling device aimed at kids known as the Amazon Glow. The $300 device allowed children to video chat while projecting graphics that responded to touch. Amazon unveiled the product at its hardware event last September and was only available by invitation. Then it was made available to the wider public in late March. The move comes as Amazon cuts back on spending across the company and as it freezes some corporate hiring.
Pay for US chief executive officers rose by over 11% from 2020 to 2021. That's according to a new report by the Economic Policy Institute. That means in 2021, CEOs were paid 399 times as much as the typical worker. For comparison, in 1965, CEOs were paid 20 times what the average worker made. CEO compensation rose 36% faster than the stock market during the 2020 to 2021 period. Compensation figures in this report, they include salary, bonuses, and long-term incentive payouts.
And New York Yankees player Aaron Judge hit his 62nd home run of the year last night, making history as baseball's greatest single season long ball hitter aside from Major League Baseball's steroid era. Judge hit an 88 per mile hour slider over left field wall in the first inning, where the ball was caught by an eager fan. Judge's milestone broke a tie with Roger Maris, who hit 61 shots in 1961 for the most hit in a single American League season. The Yankees poured out their dugout when the milestone happened to celebrate Judge.