[Head banger] Thursday, February 05, 2009 12:19:04 AM
paying CEO's in stock sounds like a great idea, as most people have only the stock market to invest in for retirement, and the failing stock market is the reason that DB plans are on the way out. generaly they are vested for longer term employees, which may explain the CEO stat. personaly I was glad to see a DC plan come to my workplace, much more cash for me. [Show/Hide Quoted Message](Quoting Message by ronhartsell from Wednesday, February 04, 2009 6:16:11 PM)
ronhartsell wrote:
...here are some examples of what I'm trying to relate...these figures are a couple of years old now, but you'll get my point...
...Pay for the average CEO at a "S&P (Standard & Poor) 500" company is now 430 times that of the average US worker.
...More than one in four of nearly 200 large firms surveyed by Equilar Inc. granted raises of at least 25% to their CEOs.
...A survey of 350 companies by Mercer Human Resource Consulting found that the median CEO earned $975,000 in base salary and $6 million in total compensation.
...Defined benefit pensions for workers are under attack, as only 21% of private sector workers are covered by such plans. Meanwhile, 69% of "Fortune 1000" CEOs have defined benefit plans.
...Richard D. Fairbank of Capitol One Financial Corp. tops the list of CEOs cashing in on huge stock options. He earns no salary or bonus, but his return on options in 2006 amounted to over $18 million. His options payout the year before? $249.3 million!!
...Institutional Shareholder Services (ISS) reported that software maker Ariba Inc. paid CEO Robert M. Calderoni $104 million - a 75% increase over the previous year - while the company's returns to shareholders fell 39%.
...US investors singled out executive compensation as their top concern over the next year, according to another ISS survey.
This is what I'm talking about when I state - CORPORATE GREED!!!
