9 gigantic bonuses that make yours look like chump change

[ChromeFoundry]

June 29, 2011 03:56 PM ET
NETWORKWORLD - By Ann Bednarz, Network World

9 gigantic bonuses that make yours look like chump change
Seven-figure cash bonuses sweeten tech CEOs' pay packages

CEO PAYDAY: http://www.networkworld.com/slideshows/2011/042811-ceo-pay.html">What tech's top execs raked in for 2010

Across all industries, CEO compensation had tapered off the last couple of years but came climbing back in 2010. In particular, cash bonuses grew significantly, according to The Wall Street Journal/Hay Group 2010 CEO Compensation Study.

The study, which looks at compensation for CEOs at 350 of the largest U.S. companies, found that base salaries remained flat at $1.1 million - but annual incentive-based bonuses increased by 19.7% to $2.2 million. The sharp gains in bonus amounts led to a 12.8% increase in overall cash compensation.

Who: IBM CEO - Sam Palmisano
Bonus amount: $9 million
Total 2010 compensation: $31.7 million

Who: Oracle CEO - Larry Ellison
Bonus amount: $6.5 million
Total 2010 compensation: $70.1 million

Who: Motorola Solutions CEO - Greg Brown
Bonus amount: $5.9 million
Total 2010 compensation: $13.7 million

Who: AT&T CEO - Randall Stephenson
Bonus amount: $5.1 million
Total 2010 compensation: $27.3 million

Who: Apple COO - Tim Cook
Bonus amount: $5 million
Total 2010 compensation: $59.1 million

Who: Cisco CEO - John Chambers
Bonus amount: $4.6 million
Total 2010 compensation: $18.9 million

Who: Sprint Nextel CEO - Dan Hesse
Bonus amount: $4.4 million
Total 2010 compensation: $9.1 million

Who: Verizon CEO - Ivan Seidenberg
Bonus amount: $3.9 million
Total 2010 compensation: $18.2 million

Who: Symantec CEO - Enrique Salem
Bonus amount: $3.1 million
Total 2010 compensation: $9 million


Source: http://www.networkworld.com/news/2011/062911-bonuses.html?page=1

[pacalo]

1. And that isn't counting the bonuses of executives under the rank of CEO.

This must be a big part of the reason they need big tax breaks, because the profits sure aren't going toward creating jobs.

[lpbk2713]

2. There must have been a big tradeoff.

How many lower level employees were fired and how many other employees'
badly needed benefits were taken away to make up for this windfall?

[originalpckelly]

3. And how much money did the shareholders make?

Bonuses are for those who work. The shareholders own. I'm more worried about them.

[dkf]

6. This money should be going to pension plans and 401ks.

This is why the State pension plans are underfunded.

[originalpckelly]

7. Even 100 mil is not enough to save them.

It's the sapping of the economy by the investor class that doesn't do anything that is stealing money.

They are the ones who put up the executives as the poster boys for the problem, when they are the ones pulling the puppet strings.

[dkf]

9. That is a total of $257 million.

It's not chump change.

[damntexdem]

4. Well, they would except for one thing: I'm not getting a bonus.

And zero ALWAYS looks like chump change.

[patrice]

5. K&RRRRRRRRRRRRR!

[RadiationTherapy]

8. Top Income Tax Bracket: 379,000.

Well, goll-eee Mr. Economics-Person, how DOES this ALL work? hyukhyukhyuk!

[Canuckistanian]

10. Bonuses? What are they?

Is that like some kind of voucher?

[Initech]

11. I know how to solve this: companies that pay their CEOs that much get taxed 150% of that.

That'll force 'em to think twice about that undeserved $20 million bonus. :grr: :mad: :grr: :mad: :grr: :mad: :grr: :mad: :grr: :mad: :grr: :mad: :grr: :mad: :grr: :mad:

[OhioChick]

12. That's fucking disgusting...

I can't remember the last time I got a pissy-ass bonus. :mad: