Rough economy cuts into pay for US CEOs: Study

Source: Economic Times India/Reuters

15 May, 2008, 1946 hrs IST, REUTERS

NEW YORK: CEO compensation at the biggest US corporations dropped sharply last year, reflecting in part the rough business conditions at top-tier banks and other large financial firms, a study has found.

The study, released on Thursday by consulting firm Mercer, a unit of Marsh & McLennan Cos Inc, is one of the most comprehensive reports to date analyzing chief executive pay data for companies' most recently completed fiscal year.

The study looked at pay data in annual proxy filings for 350 companies of varying sizes and industries in the Fortune 1000.

CEO pay is always a contentious topic, but it has received increased attention from shareholders amid the subprime mortgage meltdown and has been discussed on the US presidential campaign trail, with Democrats Barack Obama and Hillary Clinton and Republican John McCain all taking aim at well-paid CEOs.


Read more: http://economictimes.indiatimes.com/Rough_economy_cuts_into_pay_for_US_CEOs/articleshow/3044076.cms

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:nopity:

Imagine the horror of scraping by on $40 million instead of $90 million! I may light candles for them at church.

Sending jobs overseas = less people with money to spend = less money spent on products = less profits = less money for CEOs based on profits.

Looks like they made their own bed to me.

Rp

You got that right

"Median total direct compensation for CEOs in this group was nearly $14 million in the fiscal year covered by the proxy, Mercer said. The pay tally includes an executive's base salary, annual cash bonus and the expected value of long-term incentives such as stock options and performance shares granted in the fiscal year covered by the proxy."

Now it takes them a day and a half to make what I earn in a year!!!!


Horrors!! The terrorists have won!!! Red alert!!!! Red Alert!!!!!


Anyone who needs the sarcasm smiley here, check your IQ....

those fat cats could stand to lose a few pounds while the rest of the world is on starvation rations.

After they have been letting people go and off-shoring jobs, barely paying the employees in the states that they still have a decent living wage, I am supposed to feel sorry for their "drastic" decline in wages???? Seriously, what did the greedy bastards think would happen when there would be few left who could afford their services? Oops, I forgot, their greed somehow clouded their foresight and common sense. It's all bull anyway because I doubt that getting millions each year in salary, bonuses and other compensation means that they are hurting in any way.

I thought I might set up a table outside the front door of the local homeless shelter and get the clients to give $$ so that these CEO's don't wind up on the street, too.

And the poor CHILDREN. OMG. Will they have to give up their Beemers?????

if the fat cats don't stay fat, it means the trickle down economic plan will no longer work
and none of us will have money... :scared:

don't you get it?
Bush made it real clear thats how it works...

Boo f'ing hoo....

greedy fucks the lot of them...

excuse my language...

There's more work to be done! Vote McCain, because no billionaire should be left behind.

After all it's not like they fucking work. The little people are the ones doing the work. Spread the money amongst the little people.

NOW it's a crisis. :eyes:

he may need to pass more tax cuts for the poor wittle billionaires ;(

Poor little CEO's! Down to their last couple of million bucks :sarcasm: How can they afford to keep up the payments on their second and third mansions? They just might have to sell them so they can gas up their Hummers. :nopity:

:cry:

:nopity:

horrible tragedy? The poor helpless powerless little things.