Sunday, May 03, 2009

Highest-Paid CEOs For 2008: AP's Top 10 List

Via The Huffington Post. The top earners among the CEO's:

The 10 highest-paid CEOs for 2008 at Standard & Poor's 500 companies based on calculations by The Associated Press. The analysis includes companies that filed proxy statements with the Securities and Exchange Commission between Jan. 1 and April 20. The total pay figures are rounded and are based on the AP's compensation formula, which adds up salary, perks, bonuses, preferential interest rates on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted last year.

1. Aubrey McClendon, Chesapeake Energy Corp., $112.5 million

2. Sanjay Jha, Motorola Inc., $104.4 million

3. Robert Iger, Walt Disney Co., $51.1 million

4. Lloyd Blankfein, Goldman Sachs Group Inc., $42.9 million

5. Kenneth Chenault, American Express Co., $42.9 million

6. Vikram Pandit, Citigroup Inc., $38.2 million

7. Steven Farris, Apache Corp., $37.2 million

8. Louis Camilleri, Philip Morris International Inc., $36.9 million

9. Kevin Johnson, Juniper Networks Inc., $36.1 million

10. Jamie Dimon, JPMorgan Chase & Co., $35.7 million
$112.5 million for a years work? And Obama is wrong to think that we need to do some redistribution of wealth?

Maybe taking more tax from that $112.5 million would discourage McClendon from continuing and force him to search for more lucrative work. I mean, that's the argument they always use isn't it?

Even if you taxed him at 50%, is it reasonable to expect McClendon to be able to live on $56.25 million a year? Hmmm...

They think we are mugs. And the supporters of the Republicans, the very people who think that they might also one day find themselves in McClendon's position - which is why the fight for less tax for the rich - are the most gullible mugs of us all.

It's a club to which we will never gain membership. But it's the hope of membership of that club which seduces stupid people into voting against their own economic interests.

Click title for source.

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