Thursday, April 1, 2010

CEO Pay Fell Less Than 1 Percent in 2009

Despite a near financial catastrophe, CEO barely dropped. The rest of us saw our tough going even tougher. It was like there was no near collapse of the economy for corporate America. We thank that fraud in the White House, along with the big business pawns in Washington, for this obscenity:

The median compensation for chief executives of 200 major U.S. companies fell marginally to $6.95 million in 2009, the Wall Street Journal said, citing an analysis by Hay Group management consultancy.

The median value of salaries, bonuses, long-term incentives, and grants of stock and stock options for the chief executives fell 0.9 percent, the Journal said.

It was only the third time since 1989 that total direct compensation has fallen for U.S. chief executives, the newspaper said.

In March, Reuters reported that U.S. consumer, financial and technology companies slashed bonuses for their chief executives by more than half in 2009, as companies moved to more closely tie executive pay to performance.
...full article

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