This will make your holiday brighter: CEO pay up 36.5%

GMI Ratings, a corporate governance watchdog, has released the results of its latest survey of CEO pay for fiscal 2010. It found that CEO compensation for companies in the S&P 500 rose by a median of 36.5 percent. Three of the 10 highest paid CEOs work in the health-care industry, including the top two.

According to the GMI survey, the best-compensated CEO in the country in 2010 was John Hammergren at McKesson, the world’s largest health-care company, with a total compensation package of $145 million. Under Hammergren’s contract, he will also collect $469 million as severance. Quite a “reward for performance” system there, when your “penalty” for getting fired is almost half a billion dollars.

Here are the Top Ten:

ceopay

“The 36.5 percent increase in realized compensation is particularly notable when it’s put in context of the modest growth of the economy in 2010 and general public company performance last year,” according to Paul Hodgson, chief communications officer and senior research associate at GMI.

“Particularly notable.” Yes, I suppose that’s one way to describe it.

And as GMI further notes, “In several notable cases, performance objectives that were not met in 2008 and 2009 were satisfied in 2010, though often only because the targets had been reduced. For that reason, during 2010, a modest economic recovery led to a rebound for many CEOs resulting in the annual cash bonuses.”

When you can’t meet performance targets, you merely lower the targets and ka-ching!! Gotta love it, right?

And the best is yet to come. According to The Guardian, GMI Ratings “is expecting a rash of massive stock option bonuses as many firms awarded their top executives big option deals when the stock markets hit their lows in 2007-2008.

“There’s still a lot of money just waiting in the market,” said Hodgson. He described the upcoming awards as a “bombshell” likely to dwarf this year’s figures.

– Jay Bookman

374 comments Add your comment

1811/0311

December 16th, 2011
11:34 am

“Ineptocracy (in-ep-toc’-ra-cy) – a system of government where the least capable to lead, are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.”

stands for decibels

December 16th, 2011
11:39 am

But but but we’re bankrupt, Jay!

Finn McCool (Run Newt, run! You da man!)

December 16th, 2011
11:41 am

Mr. Gabelli has to be pissed. Coming in last in Jay’s list. He should try harder. It’s his own fault he isn’t making as much as the first 9.

Jm

December 16th, 2011
11:43 am

Shareholders are getting screwed

Not the other taxpayers

Jm

December 16th, 2011
11:44 am

Complain to Obama the 1%er

JWM

December 16th, 2011
11:46 am

Jay, you must remember the golden rule- He who has the gold makes the rules. As it always has been, and always will be, unfortunately…

Jm

December 16th, 2011
11:47 am

Government actually gets more tax revenue by paint single individuals large sums rather than spreading it around

Has to do with that graduated tax bracket thingy

More revenue for government. Jay you should be ecstatic.

Kamchak

December 16th, 2011
11:49 am

WEALTH ENVY

Just thought I’d get that out of the way early.

John

December 16th, 2011
11:50 am

Wow, Jay sounds angry.

kayaker 71

December 16th, 2011
11:50 am

And which one of you liberal whiners would not give their left nut to change places with any of the nine?

Thomas

December 16th, 2011
11:50 am

Above is egregious but the below is a little more “breaking”- especially to those who are steadfast in their unwarranted protectionism of fannie and freddie.

The Securities and Exchange Commission has brought civil actions against six former top executives at the mortgage giants Fannie Mae and Freddie Mac, saying that the executives did not adequately disclose their firms’ exposure to risky mortgages in the run-up to the financial crisis.

Keep Up the Good Fight!

December 16th, 2011
11:51 am

Well those poor CEO’s are certainly sharing in the sacrifices made by Americans. :roll:

ATF

December 16th, 2011
11:51 am

It is amazing that we have managed to make the health of the U.S. economy immaterial to the health of major U.S. corporations.

Kamchak

December 16th, 2011
11:52 am

And which one of you liberal whiners would not give their left nut to change places with any of the nine?

That would be me.

Thomas

December 16th, 2011
11:52 am

Interesting on the President of Cox/AJC below

#154 Jim Kennedy
03.10.10, 06:00 PM EST
Grandson of Cox Enterprises founder James M.

Previous: David Geffen Next: Karl-Heinz Kipp
Net Worth: $5.0 bil
Fortune: Inherited
Source: Cox Enterprises
Age: 62
Country Of Citizenship: United States
Residence: Atlanta, Georgia
Education: U of Denver, Bachelor of Arts / Science
Marital Status: Married, 3 children

Jay

December 16th, 2011
11:55 am

Thomas, you beat me to it on the Fannie/Freddie/SEC story. I’m planning to post on that this afternoon.

vinny

December 16th, 2011
11:56 am

Slow news day, Jay? All you can come up with is more liberal bedwetting wealth envy? Did these people break any laws, or ar you just trying to stir up the liberal mob?

Stephenson Billings

December 16th, 2011
11:56 am

stout

December 16th, 2011
11:56 am

Hmpff, more CEO pay whining. If you don’t have stock in the company as a shareholder and go to shareholder meetings where you can vote on things in the company, you have zero say in CEO pay. Period. And where’s all the whining about the $15 trillion in debt? {cricket chirp}
But give it up for the GOP on the budget deal telling the liberals to stick it on those stupid CFL bulbs and banning traditional incandescent bulbs. Democrat liberals can stay the out of my light bulb sockets. Now I just feel bad for buying so many traditional real light bulbs and hoarding them.

Now let’s talk about wealth, shall we? Here’s a little fact you won’t be seeing liberals report. Of the wealthiest top 10 Congresspeople, 6 (SIX) are Democrats. Of the top 5 wealthiest, 3 (THREE) are Democrats. And you liberals sit back and whine about CEO pay – private pay not government/taxpayer dollars pay mind you.

But that’s okay, liberals will tell you that companies are not hiring because they are being greedy and sitting on their cash. Well, as usual when dealing with liberalism, the truth is another matter. Try a shortage of skilled workers. Great job, liberal-run government schools…

http://www.ft.com/intl/cms/s/0/6d586922-21f0-11e1-8b93-00144feabdc0.html#axzz1giXDVfPT

F. Sinkwich

December 16th, 2011
11:56 am

What’s the big deal?

Solyndra got $550 million of taxpayer money and the lib ilks around here yawned.

Guy Incognito

December 16th, 2011
11:57 am

but, but, but…….The CRA had NOTHING to do with the collapse. Bwany said they were solid!

Finn McCool (Run Newt, run! You da man!)

December 16th, 2011
11:57 am

SEC, no time like the present to start pressing charges.

harvey

December 16th, 2011
11:57 am

You liberals jealous much!? Must be hard to go around envying everyone. Work harder, succeed more, and hey, you might just become a conservative.

Jay

December 16th, 2011
11:58 am

“If you don’t have stock in the company as a shareholder and go to shareholder meetings where you can vote on things in the company, you have zero say in CEO pay. Period.”

Of course, if you DO have stock in the company and DO go to shareholder meetings, you STILL have zero say in CEO pay. Period.

Kamchak

December 16th, 2011
11:59 am

If you don’t have stock in the company as a shareholder and go to shareholder meetings where you can vote on things in the company, you have zero say in CEO pay. Period.

Not this crap again.

:roll:

Mick

December 16th, 2011
12:00 pm

**you might just become a conservative.**

That would be known as devolution…

steve

December 16th, 2011
12:00 pm

Jay… when are you going to do an article on how much federal employees make? Or how about the total compensation for Freddie and Fannie execs this year?

Stephenson Billings

December 16th, 2011
12:00 pm

Hmmmm…. and I was told they didn’t have anything to do with the “housing crisis/bubble” (sorry, couldn’t wait til later):

“In the lawsuits, the SEC said Syron, Mudd and others understated the lenders’ exposure to subprime mortgage loans. From 2007 to 2008, Freddie Mac executives said the company’s exposure was between $2 billion and $6 billion when it was actually as high as $244 billion, according to one SEC complaint. From 2006 to 2008, Washington-based Fannie Mae executives said the firm’s exposure to subprime mortgage and reduced documentation loans was about $4.8 billion when it was nearly 10 times greater, according to the regulator. “

Jay

December 16th, 2011
12:01 pm

What’s the CRA have to do with any of this, Guy?

Or are you just throwing out distractions such as Solyndra, CRA, Fast and Furious, teleprompter, etc.?

Guy Incognito

December 16th, 2011
12:01 pm

‘According to the lawsuit, Fannie told investors in 2007 that it had roughly $4.8 billion worth of subprime loans on its books, or just 0.2 percent of its portfolio. The SEC says that Fannie actually had about $43 billion worth of products targeted to borrowers with weak credit, or 11 percent of its holdings.’

Wow! Just Wow

Kamchak

December 16th, 2011
12:02 pm

Jay… when are you going to do an article on how much federal employees make?

steve… when are you going to blogspot.com and starting your own blog?

F. Sinkwich

December 16th, 2011
12:03 pm

One of the great things about this country is its ability to correct mistakes it makes.

“The majority of Americans believe that President Obama should not win reelection and his job approval stands at a new low, throwing into doubt his chances to earn reelection, according to a new AP/GfK poll. More than half of Americans — 52 percent — said that President Obama should be voted out of office, a record high. Only 43 percent say he deserves a second term.”

RB from Gwinnett

December 16th, 2011
12:03 pm

“Fortune: Inherited
Source: Cox Enterprises”

Make sure you share your disgust with him hoarding all the wealth at your epense when you see him at the company Christmas party Jay!

Road Scholar

December 16th, 2011
12:03 pm

Kamchak: I’ll join you. Pass the saltines and vienna sausages.

Jay, could you share with us again the companies mean personal salary of their workforce and the % of that salary that these CEO are making? A comparison to European and Asian and South American CEO’s/laborer would be appreciated. While I support capitalism, is anyone worth the salaries onthe chart? Why? “And because they can” is not a valid reason.

Joseph

December 16th, 2011
12:05 pm

Man more tax money down the drain. Ohhh I forgot they are private companies that can pay their people whatever they want…. You leftys are so brilliant Jaybird….. It’s none of your business as to what these folks make… Now if they were getting tax dollars to pay their salaries it would be different….

Mr_B

December 16th, 2011
12:05 pm

Yaker71: “And which one of you liberal whiners would not give their left nut to change places with any of the nine?”

I’m with Kam. Would I like to be better off than I am now; sure. But I can’t even begin to imagine how I’d use a fraction of 145M.

Guy Incognito

December 16th, 2011
12:05 pm

Jay,

Sorry, I meant to channel Maxine Waters, and her praise of Franklin Raines. The “wonderful leadership” and all.

My Lo Mein reheating caused me to mistype

Kamchak

December 16th, 2011
12:06 pm

While I support capitalism, is anyone worth the salaries onthe chart?

Because the are “job creators”, silly.

Too bad they aren’t “career creators”.

For the people of this country.

Billybob

December 16th, 2011
12:07 pm

yawn Jay, would you like my top ten list of the most obnoxious radical liberal opinion guys in america who are overpaid……Finn……part of the problem was gov’t laying the groundwork towards the problem and the other part of the problem was the gov’t not enforcing the laws and rules to never let the problem start…..do you see a pattern here…..big gov’t + power hungry people – values,honesty,integrity = 16 trillion in debt and obama/bookman class warfare……current dem party and hussein are no defferent than banana republic politicking…..sad really

godless heathen

December 16th, 2011
12:08 pm

Noted that the Top 2 are in the Health Care racket, not the hated defense contractor or oil company.

Get Real

December 16th, 2011
12:08 pm

Gerbil Envy

Just getting it out of the way….

Billybob

December 16th, 2011
12:09 pm

Jay,
Facts are distraction to you and the radical left huh? Very revealing statement my friend……it’s easy to expose a liberal

Kamchak

December 16th, 2011
12:09 pm

Mr_B

I’d like to have 145M.

I just wouldn’t like to be a CEO.

Jay

December 16th, 2011
12:09 pm

It’s a well-run privately held company, RB. As the owners, they can do with it as they please, and they do pretty well, as you note.

I think there’s a big difference with publicly owned companies in which the CEOs in question are supposed to be employees of the shareholders, yet manage to squelch shareholder oversight and pay themselves enormous sums.

Get Real

December 16th, 2011
12:10 pm

Or are you just throwing out distractions such as Solyndra, CRA, Fast and Furious, teleprompter, etc.?

Distractions…..wow, keep that head buried Jay

AmVet - Just say no to the War Pigs.

December 16th, 2011
12:11 pm

First of all, unlike like taxes, which only help the parasite class, gargantuan and perverse executive “salaries” are immaterial, as the costs do NOT get passed on to the consumers.

Secondly, class warfare!! (Which is actually good for America. Especially if you are in the right class.)

Thirdly, those are the winners and job producers! (Thank goodness they have played a huge role in keeping working, middle class Americans from having flat-lined wages for the past four decades.)

And welcome back, Scout.

Hope you are all ship shape…

Jay

December 16th, 2011
12:11 pm

Guy, if they could find a way to force Raines to disgorge what he got, I would be all for it.

Redneck Convert (R---and proud of it

December 16th, 2011
12:11 pm

Well, good for the CEOs! Maybe the rest of us will get Trickle Down in a few years. I know that with all that money they need beer once in a while just to sellabrate.

We’re not getting a pay raise down at the warehouse. The co. says we got to sacrifice. But we’re each getting a turkey. Mine will be 18 lbs., enough to feed a family of four and a couple guests. I just can’t figure out, what with all the sacrifice, how the boss manages to drive a new Mercedes-Benz S class and belong to two country clubs. He must save and do without like crazy. Me, I like the creature comforts like Skoal and Red Man and a bag or two of fried pork skins.

Have a good p.m. everybody.

Thomas

December 16th, 2011
12:11 pm

Jay- look forward- don’t forget W’s boy Hank Paulson and his majical hand out of inside information to hedge funds. You may also want to back track into his infamous 2008 speech sending freddie and fannie to the grave where he announced “he was aware a few commnuity banks held the preferreds” only later to find out the PRDs were a large component of community bank capital. He was no more qualified for the position than Corzine was for MF.

RB from Gwinnett

December 16th, 2011
12:11 pm

The lie Jay isn’t telling you all is how much of that compensation is in the form of stock options. He wants to brag about the stock market increasing by 50% since Obama took office and then he wants to whine about people who make money from it when it does.

Stop lying to the people of Atlanta, Jay. They deserve better.

Stephenson Billings

December 16th, 2011
12:12 pm

“is anyone worth the salaries onthe chart? ”

Anyone is only “worth” how much someone is willing to pay you whether it be a CEO, professional athlete, movie star, or you or me….

Mick

December 16th, 2011
12:12 pm

billybob

The only thing you can expose is…..yourself, in the meantime keep trying…

Paul

December 16th, 2011
12:13 pm

Lower the goals so you can meet them. Gotta love it.

Of course, I’m sure they do the same for middle management and rank and file workers, don’t they?

Seriously, this is an obscenity. There is no rational link between executive capability, performance, company results and compensation. None. It’s robber baron looting.

It also puts to the lie how overregulation, uncertainty and Obama policies are stifling business. Business is doing just fine when you can pay people tens of millions of dollars in a stagnant, mired, bleak economy.

It’s also another reason to tax executive compensation packages at standard IRS earned income rates, regardless of the type of compensation paid. Translation: no more cap gains dodges. It’s all at 35% marginal, ’cause 39.5% advocated by Democrats and decried by Republicans would be so horrifically confiscatory that all the top talent would flee and retire.

Welcome to the Occupation

December 16th, 2011
12:15 pm

Only one solution to this:

Uprising

Mick

December 16th, 2011
12:17 pm

paul
**Seriously, this is an obscenity. There is no rational link between executive capability, performance, company results and compensation. None. It’s robber baron looting.**

I have never read anyone put this culture of wealthy greed merchants in their place so perfectly, in so few words, you are the man…

YAWN

December 16th, 2011
12:18 pm

YAWN..so what is going to change with this article in print? NOTHING…been this way since corporate America took over America…get use to it..focus on your own life..and not the rest of the wheel that keeps turning..whether your dead or alive!

scrappy

December 16th, 2011
12:20 pm

Well, this is one of those things where there just isn’t something quite right. Sort of like Porn, I can’t define it, but know it when I see it. What I see here is something out of control wrong, not wealth envy, and not anti-capitalism, yet un-definable.

Anyway to track the out of control rising costs of health care in this country with the out of control rising salary to the CEOs?

Michael

December 16th, 2011
12:20 pm

I would be interested in the marginal tax rates of the characters listed above. I would also be interested in comparing their marginal tax rate with a sergant coming home from his third tour in Iraq. Since I imagine several of them have a lower marginal tax rate, I would like to know what they did that is more valuable to America than a sergant coming back from his third tour.

GT

December 16th, 2011
12:21 pm

I think one of the real problems in America is the public does not understand the meaning of a public corporation. They think all this money is private. This is the center of our problem.

AmVet -

December 16th, 2011
12:23 pm

No worries.

Suicidal, dirt poor neo-cons LOVE paying LOTS more than they have to for everything from health insurance to auto parts.

You see, the guppies are only helping out the struggling billionaires who are looking after their family’s best interests..

Republicans have got to be the most dense group of people in the history of……… people.

Kamchak

December 16th, 2011
12:23 pm

The lie Jay isn’t telling you all is how much of that compensation is in the form of stock options

Had you clicked on the supplied link you would’ve noticed theses two paragraphs:

Realized compensation includes total annual compensation, change in pension and non‐qualified deferred
compensation, value realized in exercising options and vesting of other equity and any payments from a
vested retirement plan.

Bonuses, equity profits, pension payments, and perquisites, also known as “all other compensation”, were
considerable among the highest paid CEOs. Time‐based equity grants and discretionary bonus payments
helped fuel some of the most sizeable compensation packages. Substantial increases resulting from pension
payments and other deferred compensation also accounted for significant portions of realized
compensation.

Perhaps you can get further notes from those that actually do their work, after class.

Devil's Advocate

December 16th, 2011
12:24 pm

Actually, it’s not about liberal vs conservative or wealth envy. This is about private businesses acting responsibly. I’m a fan of risk/reward and bonuses paid on results. That way if a private company is making large profits there’s actually money to distribute to executives and anyone else they deem worthy. What I cannot stand is when a company lives at break even or operates at a loss and STILL pays crazy high salaries, bonuses, and other forms of compensation. The whole “work harder and earn your way up” argument goes out the window when you compensate poor performance.

The real kicker is severance packages for people fired for performance reasons. If you are firing someone for not doing an adequate job, why pay them a large sum of money beyond their salary? Yeah, I’d love to be rewarded for being a crap employee. Talk about motivation to do one’s best…

I’m sure the people who support rewarding bad performance are the same parents who buy the kids of a winless team the largest shiniest trophies available. Hey, we can all look like winners even if we aren’t!

Fedup

December 16th, 2011
12:25 pm

There is the librul Warren Buffett tax the hell out of these guys. They don’t produceanything except con and bribe the board members to oay that amount of money. Any left nut can do their job.

Doggone/GA

December 16th, 2011
12:28 pm

“The lie Jay isn’t telling you all ”

If it’s a lie, and Jay IS NOT telling us…what’s to worry about?

Doggone/GA

December 16th, 2011
12:28 pm

“This is about private businesses acting responsibly”

A company that has publically traded stock is NOT a private company

AmVet -

December 16th, 2011
12:30 pm

scrappy, you are correct.

Something is VERY, VERY wrong with this perverted version of capitalism.

Essentially it was officially destroyed by corporate interests in 2008.

Let’s see if I can get one of our yawning fiscally conservative economically liberal experts here to countermand one thing about this quote from 135 years ago.

(LOL, like that is ever gonna happen!)

The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. Corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed.

Welcome to the plutocracy.

USMC

December 16th, 2011
12:30 pm

Jay Bookman’s Wealth Envy INSANITY! :-)

-right out of the “Communist Manifesto” by Karl Marx

“A hatred and envy of capitalism, wealth, privilege and success may also motivate socialists.”

^^^^^^^^^^sounds familiar on this blog, doesn’t it^^^^^^^^^^^^^^

Paul

December 16th, 2011
12:31 pm

Michael

If the pattern holds, the minority of compensation is salary, taxed at anything over $379,150 adjusted gross income (after deductions) at 35%. The bulk would be in stock and options and would be taxed at much, much, much lower rates.

It’s one reason why top-earner pay has skyrocketed over the last few decades and middle-income earnings have been flat.

Keep Up the Good Fight!

December 16th, 2011
12:32 pm

This is about a form of theft from the shareholders that is permitted because the lobbyist paid by the corporations are working for the benefit of the CEOs and corporate management and NOT for the benefit of all shareholders and the rights and protections of minority shareholders have continually been weakened.

Question Man

December 16th, 2011
12:33 pm

But aren’t they the job-creators?

RB from Gwinnett

December 16th, 2011
12:33 pm

Kammie, I don’t need to look at the link or all that crap you posted to know what makes up the $145MM income package. That sort of thing is common knowledge to people who actually work in the real world.

Maybe instead of whining endlessly about what other people are paid, you armchair qb liberals on here could start your own company and make your own decisions about what to do with your bounty. You could give it to charity, save the whales, PETA, that homeless guy by the freeway, whatever your little benevolent hearts desire. The only thing stopping you is your complete lack of work ethic and unwillingness to work more than 10 hrs/week. Besides that, I’m sure you’ll do well!!!

USMC

December 16th, 2011
12:33 pm

What Motivates Socialists…….
http://www.ourcivilisation.com/cooray/vilify/socialis.htm
(LIKE JAY BOOKMAN and the other Leftwing FRinge Kooks)

Filter

December 16th, 2011
12:34 pm

What is most confusing to me is the contradiction that these figures bring to light.

For months (dare I say years) the GOP has been insisting that the Obama Administration was a wet blanket on the ability of job creators to make profits and therefore create jobs, was killing business, was overregulating business out of business etc .

But if the heads of these companies have been able to increase CEO pay more than 36% then doesn’t that actually prove the opposite of they have been saying. Am I missing one of the talking points that explain away this contradiction by further vilifying the opposition?

Stevie Ray

December 16th, 2011
12:34 pm

JAY,

Who cares what C-Suiters are compensated? Do you take all of your tax deductions or overlook some in order to be a good governed citizen. None of anyone’s business but stockholders.

I’m looking forward to how you can spin the FM/FM debacle into a conservative cross to bear….this will be a tricky wicket even for you…this will be one of the more entertaining debates so take your time on this one…

Question Man

December 16th, 2011
12:35 pm

And don’t some people wonder why health care is so expensive?

Mick

December 16th, 2011
12:35 pm

usmc

Are you another paycheck to paycheck gopher in awe of the rich man’s club? You know, the club that you see but cannot enter?

Jerome Horwitz

December 16th, 2011
12:35 pm

To the earlier poster whining about the incandescent light bulb thingy – it was a Bush era mandate (2007). Please whine about the correct president next time. Thank you.

While I find this mind numbing as CEO pay sky rockets middle class earnings remain stagnant it really is none of my business. Stockholders and Boards set the pay. They need some testicular fortitude in dealing with these people.

Paul

December 16th, 2011
12:36 pm

USMC

It was really informative, reading your “Jay Bookman’s Wealth Envy INSANITY! -right out of the “Communist Manifesto” by Karl Marx “A hatred and envy of capitalism, wealth, privilege and success may also motivate socialists.”

right after AmVet’s quote. I had absolutely no idea Abraham Lincoln hated capitalism, envied wealth, privilege and success.

Mary Elizabeth

December 16th, 2011
12:36 pm

YAWN@12:18

“YAWN..so what is going to change with this article in print? NOTHING…been this way since corporate America took over America…get use to it.”
—————————————-
No, we must never “get used to it.” And there is something that you can do – today – to try to change it. Sign the petition in the link below, as I did, that is trying to change a concentrated attempt to keep poorer Americans, college students, and the elderly from casting their votes in the next presidential election. This is a deliberate plan, through Republican governors and Republican statehouses, to suppress Democratic votes, which reminds one of Jim Crow poll tax tactics. As Americans who pride ourselves on our right to vote, we should all be ashamed that this is even happening in America today. This is what power and corporate wealth, if not properly regulated, can do to our basic American democratic tenets. As I have posted previously, Thomas Jefferson warned against wealth and power being centered in the hands of only a few, if we want to sustain our democratic Republic.

http://kochbrothersexposed.com/voterid/

Stevie Ray

December 16th, 2011
12:37 pm

AMVET,

Have you ever considered any information that is contrary to your views or are your frightened to venture out of your comfort zone (aka middle of the herd) ? How exactly to you want the government to get involved in executive pay?

Doggone/GA

December 16th, 2011
12:37 pm

“Stockholders and Boards set the pay. ”

as Jay has already pointed out, stockholders have NO say in CEO compensation. None.

McPants

December 16th, 2011
12:37 pm

I stopped reading this article after seeing the term “holiday” used incorrectly in the title. We celebrate CHRISTMAS here in America, folks! Even if you don’t celebrate with presents/trees/decorations, your kids still don’t go to school and you can’t get your mail or go to a bank.

Guy with the handle “stout” summed it up well.

Merry Christmas to all!

RB from Gwinnett

December 16th, 2011
12:37 pm

Jay, that distinction between a private company and a public one is chicken s***. You liberals have never once in the public forum limited your hatred for rich people to only those working at public companies. Everybody making more than what you deem is “enough” is hated and vilified by your class all the way up to the POTUS and it’s pathetic.

Welcome to the Occupation

December 16th, 2011
12:37 pm

USMC: “A hatred and envy of capitalism, wealth, privilege and success may also motivate socialists.”

Playing fast and loose with the quotes there, USMC? :)

AmVet - Just say no to Republican fascists.

December 16th, 2011
12:38 pm

Shareholder authorization should be required for top executive compensation packages at each annual shareholder meeting. Stock options, which now account for about half of the executive compensation, should be counted on financial statements as an expense. Tax deductions for compensation 25 times above the compensation received by the lowest paid worker in a corporation should be eliminated, as recommended by the famous business guru Peter Drucker.

http://tinyurl.com/5ovk5t

Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power. ~Benito Mussolini

Doggone/GA

December 16th, 2011
12:38 pm

“Have you ever considered any information that is contrary to your views or are your frightened to venture out of your comfort zone”

Return question: have you?

Paul

December 16th, 2011
12:39 pm

RB from Gwinnett

“Maybe instead of whining endlessly about what other people are paid, ”

So… what rational mechanism sets CEO compensation cited at that level? Overall company performance? If so, then why were performance targets reduced for execs while compensation increased?

Doggone/GA

December 16th, 2011
12:39 pm

” stopped reading this article after seeing the term “holiday” used incorrectly in the title. We celebrate CHRISTMAS here in America, folks! ”

You forgot New Years

NotAcceptingBS

December 16th, 2011
12:39 pm

Wait, is this the SAME rich that worked hard and sacrificed to make mega-dollars? No, the ceo’s today have learned to work little, make contacts and create an atmosphere where cronyism works. After all, isn’t looking for the easy way out the American way?

AmVet - Just say no to Republican fascists.

December 16th, 2011
12:39 pm

Happy Hanukkah, McPants.

Keep Up the Good Fight!

December 16th, 2011
12:40 pm

Ahhh… A War on Christmas Arm Chair General! Guess someone won’t be going to the RNC HOLIDAY Party! :lol: :lol: :lol: :lol:

Kamchak

December 16th, 2011
12:40 pm

I don’t need to look at the link or all that crap you posted to know what makes up the $145MM income package.

But you do need to look at the link in order to refute your assertion that somehow Jay was lying.

Oh about that 10/hrs a week thingie.

As a self employed construction worker it was at least 10/hrs. a day.

Devil's Advocate

December 16th, 2011
12:42 pm

Doggone/GA

You are correct. It’s easy to get caught up in the entity war between government (politicians) vs corporation (executives, BOD, and mega stockholders/lobbyists) vs small potatoes (modest stockholders, remaining employees, individual consumers).

While “public”, these corporations do not set salaries and compensation packages based on input from “the public”.

Jay

December 16th, 2011
12:43 pm

RB, I have never expressed anything close to hatred for people who happen to be rich. That would be crazy, like hating people because their eyes are green.

Nonetheless, you cling to your angry fantasy, which I don’t find at all surprising. I honestly cannot remember a single post by you in which the dominant tone was NOT anger.

Mick

December 16th, 2011
12:43 pm

rb

Mind reading much? Just because one does not agree with the obscene amounts of money that the few are accumulating doesn’t mean that it’s hate. How much is enough? Is it true that the one who dies with the most toys, wins? Get some damn perspective before broadstroking hate and applying it to all who recognize this imbalance is getting way out of control…

Doggone/GA

December 16th, 2011
12:46 pm

“While “public”, these corporations do not set salaries and compensation packages based on input from “the public”.”

Ummm…just who do you think buys their products?

Keep Up the Good Fight!

December 16th, 2011
12:46 pm

As a self employed construction worker it was at least 10/hrs. a day.

Yeah but if you just wore the hard hat and stood on a stage with a policeman and an indian you could be earning big bucks :D

If you wear a hard hard and pose for a picture with a set of plans for an annual report, you can be earning millions and millions even if you can’t really do the work or read the plans. :D

AmVet - Just say no to Republican fascists.

December 16th, 2011
12:47 pm

Paul, perhaps there is a secret CEO union we don’t know about. Kind of like the player’s union in professional sports.

Having a great year? You get lots and lots of incentive bonuses.

Having a gawdawful year, no problem! You still get paid enormous sums to be a loser. Usually for many years in advance, to boot. Until the owners have to eat your salary and pay somebody to take your sorry ass off of their hands.

And then you can always hold out and ‘renegotiate’ your contract if the zillions you’re currently getting still aren’t enough to assuage your piggishness.

These fat cats need some reverse incentives.

You hit .300? You get an extra 100 grand.

You hit .250? You forfeit a hundred.

This would be a great idea for executive compensation as well.

But with the ever resourceful creative accounting available today, the already avalanching corproate crime wave would grow even bigger, I’m sure…

Welcome to the Occupation

December 16th, 2011
12:47 pm

Jay: “RB, I have never expressed anything close to hatred for people who happen to be rich. That would be crazy, like hating people because their eyes are green”

Well I wouldn’t go that far. The ability of these people to accumulate wealth, even as they’re dismantling their companies and destroying jobs (in many cases) is a thoroughly POLITICAL phenomenon, namely because they are directly tied to corporate governance laws and regulations, which in turn are purely political animals and products of fiercely contested policy decisions. So let’s not talk about corporate CEO wealth accumulation as just a “natural” outcome of some natural historical or economic process.

Keep Up the Good Fight!

December 16th, 2011
12:48 pm

While “public”, these corporations do not set salaries and compensation packages based on input from “the public”

Neither are they set based on real input from the owners (shareholders) or based on real performance.