More CEOs received pay hikes than cuts in 2008.
By on Apr 14th, 2009 at 3:19 pm
More CEOs received pay hikes than cuts in 2008.
According to a new AFL-CIO survey of 946 companies, last year, 480 executives received pay raises, while 463 received pay cuts. Furthermore, the “median CEO salary rose 7 percent in 2008. CEO perks at the companies surveyed also went up, nearly 13 percent to an average value of $336,246, according to the survey. Of CEOs whose compensation increased, the average was $5.4 million, including salary, bonuses and stock options.” Today, the AFL-CIO also launched a new Executive PayWatch site.
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Rewarding execs for running the economy into the ground?
That’s as absurd as electing a moron for President in 2000…. oh wait, bad example…
April 14th, 2009 at 3:22 pmWish my pay went up 7 percent.
April 14th, 2009 at 3:23 pmIf a CEO has done a good job and the corporation has done well as a result, I have no problem with him receiving a pay raise (although 7% is better than I ever expect to get, even if I do the most outstanding job my employer has ever seen).
What would be meaningful to me is a pay survey of CEOs whose companies didn’t do so well last year. If their pay raises are averaging 7%, there’s something wrong with that picture.
April 14th, 2009 at 3:35 pmNice. When is the last time YOU got a 7% increase? You are lucky to get 4% – if you get anything. Jeebus cripes on a crisp.
April 14th, 2009 at 3:41 pmI don’t have a problem with capitalism or people earning lots of money but how much is enough?! Where and when does the greed stop? I’m glad that Obama is making moves to cap CEO salaries. No more rewarding failure. It’s also a good thing that AFL-CIO has launched the Executive Paywatch site.
April 14th, 2009 at 3:50 pmThe amazing thing is how many working people have been sucked in by the propaganda that this is a good thing.
These same fools see Unions as the enemy of the working people.
No man is so enslaved as the slave who believes he is free.
April 14th, 2009 at 4:05 pmIronically, JP Morgan CEOs dont follow their namesakes view…
April 14th, 2009 at 4:07 pmWORKERS OF THE WORLD: UNITE!
April 14th, 2009 at 4:19 pmI reckon too much credit ( and blame ) is attributed to the CEO, when in many cases it’s the CAO who’s more meritorius, ( or blameworthy ) for a company’s stature.
Think Enron, for example.
April 14th, 2009 at 4:19 pmGlad to see that Bush and the republicans dropped the avg CEO to worker pay 34% since Clinton left after 2000. On the other side by the time Clinton left office after 2000 it had gone up 390% since 1990!
April 14th, 2009 at 4:31 pmI dont have a problem with capitalism either when its two companies competing to produce the lowest price product [while providing a decent living wage] but subsidies, no-bid contracts and lobbying congress for legislation for competitive advantage, or earmarks for crony/pet projects, or bailing out whats basically gamblers isnt, I think, capitalism
April 14th, 2009 at 4:31 pmAdd WellPoint to the list. CEO Angelo Braley’s compensation went from $9.1 million to $9.8 million. Her company’s stock price dropped from $80 a share to $40.
That wonderful “pay for performance” is coming soon to education and healthcare.
April 14th, 2009 at 4:48 pmDid the CEO’s who made more money have a contract stipulating this? Were their companies successful? Did they receive TARP money?
This is a news story? Looks like journalistic malpractice. OOOOHHHH those eeeeeevvvvviiiillll CEO’s! My brother-in-law is a CFO. He received a nice raise and bonus. He earned his company and additional 8 million dollars this year. I guess a ten percent raise on a $500,000 salary along with an $80,000 bonus is reasonable. GROW UP! Better yet, GET A JOB!!!!!
April 14th, 2009 at 5:00 pmCoherent as ever.
April 14th, 2009 at 5:17 pmHmm..
This is a case of the pot calling the kettle black.
Greedy labor unions are the problem. Mob rule witha strike mentality does not lend to American greatness. America is great DISPITE the labor unions.
Unions have caused the demise of a once great company – GM.
Fire all union employees.. Hire real American workers not socialist in disguise.
April 14th, 2009 at 6:09 pmBgBalla Says: Hmm..
This is a case of the pot calling the kettle black.
Greedy labor unions are the problem.
Actually the head of the UAW makes only a bit over a hundred thousand a year
April 14th, 2009 at 10:57 pmYou know what BgBalla. I once was a union member and started out at about 8 bucks an hour working in the Airline industry. After I obtained my license, not thru the union, I made about 12 dollars an hour back in 1988.
Thats greedy?
April 14th, 2009 at 10:59 pmI was born in America and I worked quite hard repairing large jet aircraft for many companies from Braniff to Federal Express in un-airconditioned hangers, in the cold and the rain, in the heat and the humidity. It was not socialism, I worked for my pay, I got a 30 minute lunch, unpaid and two 15 minute breaks.
You really just dont know what you are talking about here.
April 14th, 2009 at 11:04 pmThe Dallas Morning News’ CEO gave himself a raise from $150,000.00 to $600,000.00 in January this year. Gave himself a $10,700,000.00 bonus in December and just fired 500 employees a week ago. Socialism indeed!! FOR THE RICH!
April 14th, 2009 at 11:17 pmkrystalview,
April 14th, 2009 at 11:42 pmHe saved the company about $50,000,000 per year – looks like that combined salary and bonus has a retun on investment of better then 4 to 1.
/snarkoff
retun s/b return
April 14th, 2009 at 11:43 pmOK Pat obviously senile dementia has set in. Time to see the nice young men that will need to take care of you soon.burun estetigi rent a car arac kiralama
April 18th, 2009 at 5:24 amsac ekimi