Are CEO’s too well paid?
Hoboken411 reader Halley Wolowiec had a case of nausea after seeing how much money these CEO’s were making. While I don’t think she’d feel the same way if she were a CEO – do you think CEO’s are overpaid?
It made me sick
“It almost made me puke. I found this information in the Monday, October 6th issue of USA Today in the Money section. The Headline reads: Money is available; how will it be spent?
The following is the total take-home pay (in millions) for top financial CEO’s involved in the credit crisis. Take home pay is defined as salary, bonus, cashed-out options etc.. for a given year.
- AIG: Martin Sullivan – $25.4 Million
- Bear Sterns: James Cayne – $42.3 Million
- Citigroup: Charles Prince – $41.5 Million
- Countrywide: Angelo Mozilo – $361.7 Million
- Fannie Mae: Daniel Mudd – $11.6 Million
- Freddie Mac: Richard Syron – $13.0 Million
- Goldman Sachs: Lloyd Blankfein – $76.2 Million
- Goldman Sachs: HENRY PAULSON – $106.4 (for seven years)
- JPMorgan Chase: James Dimon – $80.1 Million
- Lehman Bros.: Richard Fuld – $186.6 Million
- Merrill Lynch: Stanley O’Neil – $66.0 Million
- WAMU: Kerry Killinger – $36.0 Million
The same issue states that Henry Paulson is requesting that outside consultants be hired as “asset managers” because his administration..get this…doesn’t have the expertise to devise and execute a program. OUR SENATE just gave over 700 billion of OUR tax dollars to this man.
Anybody want to move to Vancouver?“
Speaking of AIG
Did anyone see this article how AIG executives spent nearly half a million dollars at a resort after they were “bailed out?”
“Less than a week after the federal government offered an $85 billion bailout to insurance giant AIG, the company held a week-long retreat for its executives at the luxury St. Regis Resort in Monarch Beach, Calif., running up a tab of $440,000, Rep. Henry Waxman said today at the the opening of a House committee hearing about the near-failure of the insurance giant.
Showing a photograph of the resort, Waxman said the executives spent $200,000 for rooms, $150,000 for meals and $23,000 for the spa.
“Less than a week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation,” Waxman said. “We will ask whether any of this makes sense. “