Member Section => Down Range Cafe => Topic started by: rojawe on September 30, 2008, 07:52:05 AM
Title: What the Poor CEO'S make on our Misery
Post by: rojawe on September 30, 2008, 07:52:05 AM
See How Much These Big-Name CEOs Took Home Each Year By ZUNAIRA ZAKI ABC NEWS Business Unit —
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.
CEO Cash Salary Stock, Other Pay Total Pay Lehman Brothers
2007 Richard Fuld $5,000,000 $66,770,000 $71,770,000 2006 Richard Fuld $7,000,000 $55,323,679 $62,323,679 2005 Richard Fuld $14,500,000 $89,500,000 $104,000,000 2004 Richard Fuld $11,000,000 $24,300,000 $35,300,000
Morgan Stanley
2007 John Mack $800,000 $16,431,500 $17,231,500 2006 John Mack $800,000 $6,321,000 $7,121,000 2005 John Mack $337,534 $30,000,000 $30,337,534
Goldman Sachs
2007 Lloyd Blankfein $27,600,000 $15,500,000 $43,100,000 2006 Lloyd Blankfein $27,800,000 $15,700,000 $43,500,000 2006 Henry Paulson $129,087,000 $34,900,000 $163,987,000 2005 Henry Paulson $600,000 $3,363,422 $3,963,422 2004 Henry Paulson $600,000 $11,660,000 $12,260,000
Bear Stearns
2006 James Cayne $17,300,000 $14,800,000 $32,100,000 2005 James Cayne $12,900,000 $10,300,000 $23,200,000 2004 James Cayne $10,200,000 $9,500,000 $19,700,000
Merrill Lynch
2007 John Thain $15,800,000 $0 $15,800,000 2007 E. Stanley O'Neal $584,000 $161,000,000 $161,584,000 2006 E. Stanley O'Neal $19,200,000 $45,116,327 $64,316,327 2005 E. Stanley O'Neal $14,800,000 $3,120,000 $17,920,000 2004 E. Stanley O'Neal $700,000 $16,766,448 $17,466,448
Washington Mutual
2007 Kerry K. Killinger $1,000,000 $3,468,625 $4,468,625 2006 Kerry K. Killinger $5,100,000 $17,153,715 $22,253,715 2005 Kerry K. Killinger $4,600,000 $8,876,608 $13,476,608 2004 Kerry K. Killinger $2,900,000 $12,335,416 $15,235,416
AIG
2007 Martin J. Sullivan $10,200,000 $5,647,439 $15,847,439 2006 Martin J. Sullivan $16,900,000 $5,838,656 $22,738,656 2005 Martin J. Sullivan $7,750,000 $159,000 $7,909,000 2004 M.R. "Hank" Greenberg $1,400,000 $12,002,880 $13,402,880
Fannie Mae
2007 Daniel Mudd $3,200,000 $5,200,000 $8,400,000 2006 Daniel Mudd $4,400,000 $2,290,000 $6,690,000
Freddie Mac
2007 Richard Syron $5,590,000 $0 $5,590,000 2006 Richard Syron $5,150,000 $0 $5,150,000
Funny how they went back to 2004 and 2005 on everyone but Freddie and Fannie.
Could it be because the campaign manager for Ummm Uhhhhh was there then? Do you think the MSM might be trying to hide that? ::)
Hit.
Title: Re: What the Poor CEO'S make on our Misery
Post by: shooter32 on September 30, 2008, 08:38:01 AM
Wow!!
Do we, Cheat'm & How >:(
Title: Re: What the Poor CEO'S make on our Misery
Post by: ccd on September 30, 2008, 12:40:12 PM
CEO pay is determined entirely by a Board of Directors. Unfortunately these boards for the most part are clueless people (political payoffs) who are not up to the task. If you don't like their pay don't buy that companies stock or elect different board members, problem solved using good ol' capitalism.
Title: Re: What the Poor CEO'S make on our Misery
Post by: Fatman on September 30, 2008, 12:58:13 PM
Quote
In the aftermath of the U.S. government takeover, attention has focused on three Democrats with close ties to Obama who served as Fannie Mae executives: Franklin Raines, former Clinton administration budget director; James Johnson, former aide to Democratic Vice President Walter Mondale; and Jamie Gorelick, former Clinton administration deputy attorney general.
All three Obama-related executives earned millions in compensation from Fannie Mae.
Johnson earned $21 million in just his last year serving as Fannie Mae CEO from 1991 to 1998; Raines earned $90 million in his five years as Fannie Mae CEO, from 1999 to 2004; and Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003, according to author David Frum, a fellow at the American Enterprise Institute.
All three have been involved in mortgage-related financial scandals.
In 1998, according to the Washington Post, Gorelick, as Fannie Mae vice chairman, received a bonus of $779,625, despite a scandal in which employees falsified signatures on accounting transactions to manipulate books to meet 1998 earning targets. The moves, in turn, triggered multi-million-dollar bonuses for top executives.
Gorelick was embroiled in another controversy over an alleged conflict of interest when a 1995 memo she authored as deputy attorney general surfaced while she was a member of the 9/11 commission.
The memo, which became known as the "Gorelick Wall," appeared to establish barriers that barred federal anti-terrorist criminal investigators from accessing various federal records and databases that may have assisted them in their criminal investigations.
According to the Associated Press, Raines and several other Fannie Mae top executives were ordered in a civil lawsuit to pay nearly $31.4 million for manipulating Fannie Mae earnings over a period of six years to trigger their massive bonuses.
Raines was also forced in the settlement to give up Fannie Mae stock options valued at $15.6 million.
Last year, the Securities and Exchange Commission alleged Freddie Mac had engaged in accounting fraud from 2000 to 2002, imposing a $50 million fine on the company and on four executives fines for amounts ranging from $65,000 to $250,000.
Raines currently advises Obama on housing policy.
Pow!
MSM has Obamanesia.
Title: Re: What the Poor CEO'S make on our Misery
Post by: CurrieS103 on September 30, 2008, 12:59:04 PM
+1
Title: Re: What the Poor CEO'S make on our Misery
Post by: jnevis on September 30, 2008, 01:22:48 PM
To bad most "average" voters, and ALL Obama supporters (Not-so-athletic supporter??) :-X will dismiss any of this as just blame-game politics and vote him in anyway.
Title: Re: What the Poor CEO'S make on our Misery
Post by: CJS3 on October 01, 2008, 07:23:22 PM
So What? More power to em. If I could rangle a multi million dollar salary I'd take it in a heartbeat. It's called capitalism. I don't hear any angst about entertainers or sports figures. How much did A-Rod make last season?
Title: Re: What the Poor CEO'S make on our Misery
Post by: Teresa Heilevang on October 28, 2008, 02:21:28 AM
Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.
At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.