Search This Blog

Sunday, January 22, 2012

1 % has 100 million dollar safe net, what you got?

It's not just executive compensation that's on the rise. A very solid number of executives at major corporations have also received payouts that Mother Jones calculates would be equal to the earnings of 203 lifetimes for a median income American.

More than 21 CEOs received severance or "walk-away" packages worth $100 million or more since 2000, a recent report from GMI has found. The report calculated the CEOs severance, or Golden Parachute as it's come to be called, by combining the various forms of compensation executives receive including a year's worth of annual base salary, stock option profits, stock awards, bonuses, benefits and perquisites, pensions and other deferred compensation. All told, the golden parachutes of the 21 CEOs were worth a combined $4 billion.

No comments:

Post a Comment