Mega-Million Dollar CEO Payouts

Mega-Million Dollar CEO Payouts

www.abcnews.go.com

As Washington lawmakers debate as massive, $700 billion, bailout for Wall Street firms that invested in mortgages, CEOs have come under new scrutiny for their multi-million-dollar salaries, even when their companies have suffered.

The bailout plan is likely to have limits on the so-called "Golden Parachutes" for executives forced to leave.

ABC News, in collaboration with James F. Reda and Associates, complied a list of some of the companies in the headlines today and looked at just how much money some of these CEOs are taking home.

(visit the link for the full news article)


Related News Links:
www.forbes.com
money.cnn.com
people.forbes.com
www.wsws.org

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Mod Edit: Title fixed to reflect original article
Mod Edit: Breaking News Forum Submission Guidelines – Please Review This Link.


[edit on 5/10/2008 by Badge01]

I searched ATS to see if this topic was covered yet and the search said 0 results. So...


*Richard Fudd Net Worth $1.0 billion
www.forbes.com...

**John Mack has just taken home $40 million.
money.cnn.com...

*** Lloyd Blankfein Salary $600,000.00 Bonuses $28,985,474.00
people.forbes.com...

**** Henry Paulson Worth 700 Million.
www.wsws.org...

I got tired on checking after this one...

www.abcnews.go.com
(visit the link for the full news article)


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Mod Edit: Title fixed to reflect original article


[edit on 5/10/2008 by Badge01]

reply to post by TheRooster


Good thread

This is something that normally gets ignored by the mainstream press,so hopefully this time they won't let it disappear and they won't stop harassing the government for answers that the people have a right to know.

Well, that was disappointing. I thought this was going to be a thread about the salaries of those in congress, which were the ones who caused this mess.

Originally posted by LowLevelMason
Well, that was disappointing. I thought this was going to be a thread about the salaries of those in congress, which were the ones who caused this mess.

They may have been instrumental in the success of this crime, and certainly demonstrated a treasonous disregard for the constitution; but they did not "CAUSE" this mess. They could have fought it, refuted it, and struggled against it - they didn't. It's too late, their failure has become total - to the ruin of this country.

But the cause - the architects - are STILL evading scrutiny. The transnational bank cartels and their corporate allies.

We cannot win this economic war by fighting the shadows of the enemy. The enemy is the corporate dogma of profit - dehumanizing everything it touches.

Therein lies the root of the cancer we face. The bankers truly are the arm of enemy. Without their power to manipulate the value of our currency, they are nothing.

I am in of the mind to e-mail these people and ask for school money.They will probably laugh at me though.I hope people get outraged at this.

My latest and greatest example of this graffe was the interim ceo of citibank who worked for '20' days, and was paid off 20 million dollars.
No problem there!

Assuming Congress will conduct hearings to hold these criminals accountable, a list has been comprised (starting with the greediest dirt bag first) to assist them with the issuing of subpoenas.

With my compliments, list number one:


And list number two:


[edit on 10/5/2008 by TheRooster]

Its sickening!
The company i work for is like these people although on alot smaller scale.They are now constantly trying to sell a sob story to us employees about how we are not making any money and things are tight.They are laying off staff and not replacing staff through attrition.So all the remaining staffs workload has gone up throughout the company and of course without an increase in pay.They are cutting back everywhere even on essentials.
However the top CEO and upper management are still on ludicrous salaries and bonuses that seem to go up but never down and they still have management meetings where they all get flown to flash resorts for a few days and do things like heli-fishing for "bonding exercises" and dream up stupid catch phrases to yell at us lower employees when they get back, the latest one is "non-compliance" as in "ill write you up for being non-compliant" or "we fired him because he was non-compliant".
Its sickening because if they all took just a small pay decrease or smaller bonus than most employees could have a small pay increase or better equipment to work with.The top guys are all millionaires anyway and have all their fingers in alot of pies so it wont really effect them but would make a big difference for us slaves, i mean employees.

I think i just ranted all over your thread rooster but i feel i little better lol.

I have heard that the bill "limits payouts to CEO's" but I haven't heard just how it limits them. With how big of a scam this bailout has been, I wouldn't be surprised if it was something like a $40 million dollar cap.

Does anyone know exactly what the limitations are?

This has always been a problem and been a bugbear of mine for a long time. It's certainly been a serious issue with some of the firms that have been privatised in Britain since the 1980s.

It's been pointed out to me several times by staunch capitalists in the past that these kinds of 'rewards' are important in order to attract the right people for the job, and that my (not so) pretty, little socialist head shouldn't worry it too much.

Personally, I think it's obscene, particularly when you're aware of what people earn in other fields where they're risking their own lives or saving the lives of others as part of their job description.

Reading through those lists, I honestly wonder how much money a person actually needs. Perhaps I've just got simple tastes or something.

reply to post by Azador


Allow my thread to carry your burden so you may rest a while. Get it off your chest, do not allow these people to suck the life out of you when you are on YOUR time!

I worked for an employer that cut a few hundred jobs right after they hung six million dollars in artwork on the walls, and no it was not a museum.

I feel your pain. Take pleasure in knowing these people are chasing something they will never catch, no matter how much money they accumulate. You have what they seek, I can tell by your post.

Please feel free to dump on my thread anytime. Cheers to you.

Originally posted by Merriman Weir


Reading through those lists, I honestly wonder how much money a person actually needs. Perhaps I've just got simple tastes or something.

These people all have one really bad thing in common...

They are addicted to more. More money, more cars, more homes, more women, etc... And like all addicts, it's more that usually kills them. I know, I was one of them. And then I had a kid, and it hit me...

This is exactly why our world is in Chaos. The only goal is making money at any cost. Pure greed.

Add up all the money that all the bank robbers in all our prisons took in the last 100 years and these people take more in a couple days. As long as all they talk about in the media is OJ, Brittney, dope wars & energy wars - all the real crimes by the real criminals go unchallenged.

Instead of doing something constructive that makes our world better and getting fair compensation equal to what they give, they rape & pillage our corrupt money system to take as much value as they can from the workers of the earth through their trickery of moving money around & buying and selling. They take all they can get regardless of the future costs.

They are the world criminals performing the crimes of the century and they own our governments and all law enforcement. They wish to enslave you before you wake up & decide to begin to spill their blood and cleanse the earth.


[edit on 6-10-2008 by verylowfrequency]

Jelousy is an evil mistress.

You folks hate these CEOs simple because you dont command the same respect or pay that they can.

It isnt the fault of the CEOs that they are paid this much, its institutional failure.

The solution to correct this was to allow the banks to fail. How long can a failed bank continue to pay massive amounts to CEOs?

Dont tell me that any one of you wouldnt accept their paychecks if you were offered this kind of money...frankly I find this streak of hate from main street towards those who are successful in life rather distasteful.

reply to post by 44soulslayer


It's a complete system breakdown and nobody cares as long as they get their piece of the pie before it's all gone. Just because we've all been indoctrinated to worship money doesn't mean we all have to buy into the system. Once we're in it were stuck - it doesn't mean we can't bitch about it.

The only reason there was a bailout is because nobody over 50 can afford to start over again and doesn't want to see a complete collapse that could take 10-20 years to recover from. Those who have nothing or are younger have less to lose so the pain would be easier, but instead they will be the ones paying because their future has been sold.


[edit on 6-10-2008 by verylowfrequency]

Originally posted by 44soulslayer
Jelousy is an evil mistress.

You folks hate these CEOs simple because you dont command the same respect or pay that they can.

It isnt the fault of the CEOs that they are paid this much, its institutional failure.

I don't buy that because I think it's fairly apparent to everyone - conspiracy theorist or not - that these CEOs have the influence to ensure this institutional failure exists in the first place. I think, rather than be an innocent party just as caught-up as everyone else is in this mess, they actually encourage the mechanisms that perpetuate this "institutional failure".

You know what? If it means I had to ruin the lives of so many people and short change millions, I'm glad I don't have that "respect" or "influence".

Also, I find the idea of "respect" a little weird when it comes to these CEOs. Seriously, who actually "respects" them? They're practically loathed on a universal level by both not only the people who's lives their messing up, but also people who actively play the same game as the CEOs themselves as they view the CEOs as being in the place that they want to be.

I'm positive there's more people on this forum - including American capitalists - that would happily see the heads of these CEOs skewered on spikes around the doorways of banks - or at least in jail - than there is that respect. I think it's safe that this is a good reflection of people outside this forum too.

Respect? Ugh!

[edit on 6-10-2008 by Merriman Weir]

Reply to 44soulslayer

I am not at all jealous of their money or lifestyle and i actually declined to apply for a current management position they asked me to have a go for.I have plenty enough money for my needs and sure more is better but its not worth selling my own principals for.Also ive kinda been there done that still got the t-shirt and its very unfulfilling.
I have something alot better that keeps me coming back to my job day in and day out the respect and admiration of my boss and peers and others within the company.

[edit on 6-10-2008 by Azador]

[edit on 6-10-2008 by Azador]

Originally posted by 44soulslayer
Jelousy is an evil mistress.

You folks hate these CEOs simple because you dont command the same respect or pay that they can.

Jelousy? Perhaps for some here but count me out. My first wife was loaded, only daughter to a mega millionaire. The man was so consumed with "more" he was basically a money hermit. His children grew up around him and he was so focused on money he missed it.

I know what it's like to have big money, live in a fancy house, drive a fancy car, wear fancy clothes... for those who are not consumed by this crap and see it for what it truly is or sell out to it, it's a curse. Every year around tax time I was summoned to the attorney's office to sign off on our return, which usually meant signing a check to the IRS that was about 6 or 7 times my annual salary. I signed it surrounded by an army of tax attorneys and CPA's. Every year around the same time it was a paranoid hell trying to keep the govt from getting "more".

So jelousy? Not this kid!

Jealousy.

Interesting evocation of an emotional response.

We, who are the little people, those who actually produce something in exchange for our 'wages' or 'salary' are just jealous.

There is so much wrong with that perspective that I would have to write a book to address it.

When the board of the institution in question gathered to 'attract' the 'right person', who determined their value? What makes the right person worth enough money to bank the payroll for the whole company?

It's a comic tragedy that one could ever find a 'rationale' to justify having a single employee (aren't they - employees?) represent more value than all the productive elements combined.