CEO Compensation Increases Despite Firms' Troubles

Companies may be floundering, but some chief executives continue to see their pay checks grow.

According to Crain's New York Business:

Amid the deepest economic collapse in generations, corporate America is coming up with a novel way to justify extravagant executive pay: Ignore the bad news.

Companies that sank into the red last year are looking past a host of business expenses, ranging from asset write-downs to higher-than-expected operating costs, to rationalize paying brass even more than they got in flush times."

Among those who have seen their pay increase as their company's performance slips is the New York Stock Exchange's Duncan Niederauer and Loew's CEO James Tisch.

• • •

Some companies are employing an intriguing strategy: ignore bad news. The New York Stock Exchange and Loews are increasing pay to top brass even as their firms flounder.

Comments

[ichan]

F*ck them already. Just nationalize already, and kick those bums out.

[spinns17]

lol what a joke

[nellie]

1 bonus @ $20 million = 400 jobs @ $50,000.

[Paralogos]

Not quite true, of course. The burdened cost of an employee goes beyond his salary. But it still comes out to hundreds of jobs' annual cost.

[somsoc]

These 'people' are repugnantcans they make Nero look mild, he only played the fiddle, these guys steal from the people and claim they are entitled to the money -- after losing billions. Can we say racketeering ??

[rabiddog6708]

Where are the shareholders? Oh, that's right.....­.those with venough stock are Repub sc.um like the CEOs so they don't give a cr.ap.

[babyboomerorig]

They raised all their interest rates to cover this.

These people are shameless.

[FairTalk]

Trickle up?

[vietveter]

Well yeah......­... it has worked so well for the last eight years

[lowgear]

I’m running for treasury secretary. No more of this namby-pamby stuff.

Real solution follows:

If you have a net worth of one million dollars or more (hey, we're not totally heartless); then you guys take all their monies and property over this amount, sell it all and divide it amongst us.

[tiko l]

The last raise I got was 2.14%, and it was my first raise in 6 years!!!!!!

[Realization]

Time for 95% marginal tax rates until the system gets back on track. Any pay over maybe $500,000 per year (all inclusive) should be subject to binding stockholder vote.

[BJD44]

GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.
GREED.....­.

SICK.

[BJD44]

Well, now I know for a fact that I'll no longer be shopping
at Lowe's....­.. you've officially lost my business..­........

[roger37]

That's Leow's. Different company.

Lowe's actually supported the BHO campaign, while Home Depot management has been Bush supporters for years. That's who to boycott.

[PepperzMom]

Lowe's = home improvement chain

LOEW's = movie theater chain.

From Wiki:
Loews Cineplex Entertainment
From Wikipedia, the free encyclopedia

Loews Theatres, aka Loews Incorporated, founded in 1904 by Marcus Loew, was the oldest theater chain operating in North America until it merged with AMC Theatres on January 26, 2006. From 1924 until 1959 it was also the parent company of Metro-Goldwyn-Mayer Studios. The Loews name is still used by AMC in some markets.

The company was originally called "Loew's", after the founder, Marcus Loew, until 1969 when the Tisch brothers acquired the company.

[newshawk14]

If you wonder how companies can increase executive compensation in a downturn, you need look
no further than the executive compensation committee. I asked my younger sister, who is the head
of human resources for a large corporation, if the executive compensation committee isn't really a
circle jerk. Once she stopped laughing, she admitted that was a pretty accurate description.

[breakingpoint]

I'm beginning to thing Americans enjoy being slaves

They just haven't had enough of these guys yet

[Glengray]

So Americans woke up one-day and discovered that their so-called Democracy of rule of the people, for the people and by the people isn't what its' made out to be. We all found out that its really an Oligarchy (i.e. rule by a very powerful elite few). So in reality, we're really no different from say, the Kingdom of Saudi Arabia where the people don't really have a say in their government. The only difference is that Americans like to pretend that they have a democracy, while Saudi Arabia freely admits their form of government.

Wake up and smell the coffee Americans, we don't have a political system that functions. Just a bunch of crooked few that tax you illegally and spend it when and how they please.

[ObamaSheeple]

What form of government do you suggest? Be specific.