
There was a headline in last week’s newspapers that caught my attention. It read, “Middle Class Wage Crisis Worse in North Carolina.” The story, written by Associated Press correspondent Emery Dalesio, highlighted findings by NC State University economist Michael Walden, in which he concluded that the collapse of middle class jobs in this century was worse in North Carolina than in the rest of the country. According to professor Walden, middle class jobs rose by 6% nationwide between 2001 and 2015, but fell by 5% here in the State. Communities that have lost textile jobs in large numbers accounted for much of our decline, and Winston-Salem was particularly singled out as having suffered from depressed wages.
Dalesio also referenced findings by UNC’s Maureen Berner, who added that the decline in middle class jobs and wages led to a “double-digit growth in the need for food distributed by non-profit organizations.” Her conclusion didn’t come as a surprise to me. Clyde Fitzgerald, CEO of Second Harvest Food Bank, had warned of this trend on many occasions over the past few years when appearing on my Triad Today television program. He spoke of the high rate of childhood hunger in the Triad, and of the challenges in keeping food bank shelves filled, and financial donations flowing.
What makes all of this bad news especially hard to swallow is that while many North Carolina families are still struggling to make ends meet, the income of wealthy people continues to rise at an obscene rate. In fact, former Labor Secretary Robert Reich and Senator Bernie Sanders have been railing against income inequality for years, even before the recession of 2008. So, just how bad is the disparity? According to the Bureau of Labor Statistics, in 1982, the average CEO pay was 42 times greater than that of his average worker, but by 2012, the Institute for Policy Studies estimated that the ratio had reached 364 to 1. And while I will never defend greedy corporations who overpay their CEOs to the detriment of their employees, at least those executives work in the private sector. Not so with another elite group of “one percenters”.
If you really want to get steamed about stagnant wages, then just take a moment to examine what today’s college coaches earn each year. For example, Duke University basketball coach Mike Krzysewski makes $9.6 million per year, and Michigan football coach Jim Harbaugh is paid about the same. Alabama football coach Nick Saban earns over $7 million annually, while Florida State’s Jimbo Fisher and Louisville’s Rick Pitino take home around $6 million each. But the pay rates and raises are also staggering for lesser known coaches in minor sports. According to a Washington Post story by Will Hobson from March of this year, the University of Virginia’s head women’s volleyball coach has seen her pay increase from $94,000 to $221,000 over the past ten years. Meanwhile the salary of West Virginia University men’s soccer coach rose from $66,000 to $188,000 per year, and Kentucky’s track and field coach went from earning $108,000 in 2006 to $429,000 last year. That’s a 298% pay raise! Not angry yet? Then consider that during that same period, the median pay for the average American worker rose by less than 1%.
The pay disparity at our nation’s colleges must also anger the men and women who have devoted their lives to providing academic instruction to students. According to the American Association of University Professors, the average salary of a full professor is $113,000 per year, while most instructors are lucky to be making half that amount. Even worse, their raises are few and far between, and when state legislators do approve a pay hike, it’s usually less than 5%. That’s a far cry from the coach who received a 298% pay raise.
So there you have it. Private sector CEOs make nearly 400 times the salary of the workers they haven’t yet laid off, while a growing number of college coaches earn anywhere from two times to 40 times more than the teachers who make it possible for those coaches to have a place to work. Pundits and politicians have suggested that higher taxes on the rich, and salary caps on coaches would make our lot in life easier. But the fact is, neither of those solutions would translate to more middle class jobs and higher wages for workers. That might only happen if President Trump makes good on one of his campaign promises: to incentivize companies who bring their factories and jobs back to America from overseas.
Until then, those of us in the dwindling middle class can either make do with what we have, or else try and get hired as a CEO or college coach. Excuse me while I dust off my resume.





























Posted July 18, 2017 By Triad Today#43 is 80!
I know this sounds silly, but I’ve come to believe that Richard Petty is the real-life Peter Pan. Throughout his career, Richard flew around tracks with ease. Kids of all ages followed him wherever he went. And, most importantly, he never grew old.
I first met the NASCAR King in 1979, and last month when we taped an interview for Triad Today, I realized that nothing had changed in all that time. He still takes flight, although now it’s in a jet. Kids of all ages still follow him around. And, he looks the same as he did 38 years ago. That’s why it’s difficult for me to believe that RP is 80 years old. Nevertheless, in honor of his birthday and of his groundbreaking career (which included 200 wins and seven championships), Triad Today will salute the ageless wonder in a special program this weekend. The half-hour tribute features an exclusive, in-depth interview with the King, as well as the first-ever joint appearance of Richard with his racing grandson Thad Moffitt, and Thad’s mom Rebecca Petty Moffitt. I began the show by asking Richard to recall the first time he got behind a wheel as a little boy.
Petty: The first time I ever remember driving at all was down on my uncle’s farm. He was getting up hay one day, and he had this old ’38 Ford flatbed truck, and they was throwing hay on the back of it. They put the truck in granny gear, and pulled out the throttle so it sort of crept along. They put me up there and I was standing in the seat, just holding the wheel straight ’till they got to the end of the road. Then they jumped in and turned it around, and I came back. And that was the first time I drove a truck.
Longworth: Did that upset your momma when she found out?
Petty: Well they didn’t tell her I don’t think (laughs). They got the field cleaned up, that was the main thing.
Longworth: Did your daddy encourage you to follow in his footsteps and become a race car driver?
Petty: I don’t think we ever had that conversation. When I was 18 I said, “Can I drive a race car?”. And he said, “Come back when you’re 21. You’re going to grow up a lot between now and the time you turn 21.” So I just kept working on his race car, and he was winning races and championships, and then one day, right before I turned 21, I said, “OK, I’m turning 21.” And he said, “There’s a car over there in the corner. Get it ready to go.” And off we went to Columbia, South Carolina.
Longworth: In 1959 you were running at a track in Georgia, and you thought you had your first victory until you heard someone say something.
Petty: They flagged me the winner and flagged my dad second. I was in a ’57 Oldsmobile convertible, and he was in a ’59 Oldsmobile. I hadn’t been racing but about six months, so I was tickled to death to win. Then they told me someone was protesting the race. Come to find out it was my dad protesting. Sure enough when they checked the cards, they had left him out of a lap. Back then if you had a new car, there was a $500 bonus. I had a 1957, Dad had a ’59, so our company made $500 more when HE won than if I had won.
Longworth: Your daddy was pretty smart.
Petty: Yeah, he was pretty good, and Mother was standing right there taking the check, you know what I mean? (laughs)
Longworth: On a race day did you always have fun, or was it more like a job?
Petty: It was fun. Driving a race car was a hobby. We had done all the work on it during the week, and I had done everything that I had done back when I was a mechanic, except when it was time for the race, they put me in the car, and away I went. So you work all week to be able to do your hobby, like you work all week so you can go play golf on Sunday. I worked all week so I could go racing on Sunday. That was the fun part.
Longworth: You had a lot of scary crashes. When you would get back in the saddle for the first race after a crash, were you ever a little bit afraid?
Petty: No. You was just that much more determined to overcome the problems you had before. I’ve never been afraid of a race car. Things happen so fast that you don’t have time to be scared. And when it’s over with, there’s no need of being scared.
Longworth: You always stayed around after each race to sign autographs, whether you finished first or tenth. Why did you do that when other drivers wouldn’t?
Petty: I look at it from the standpoint that the fans are the ones that’s paying me. The fans had to buy the tickets so the promoter would have money to pay us. So every time I would sign “Richard Petty”, I would say “Thank you for being a race fan”. I didn’t care if you were a Richard Petty fan or not. As long as you bought a ticket, then I would say, “Thank you.”
Longworth: You’re 80 years old now. What if the phone rang and they said, “Richard we have a problem and we need you to drive this Sunday.” Could you still race?
Petty: I’d try (laughs). I don’t think I’d tell ’em “No”. I think I’d go try.
Spoken like a good old boy who never grows old.
The complete interview with Richard, plus information about his family Foundation, the Petty Museum, Petty’s Garage, and Victory Junction Camp, can be seen this Saturday at 7:30am on abc45, and Sunday at 11:00am on MY48. Audio of the program will also be broadcast Saturday at 11:30am on 600AM WSJS.