Highest-Paid CEOs For 2008: AP's Top 10 List

The 10 highest-paid CEOs for 2008 at Standard & Poor's 500 companies based on calculations by The Associated Press. The analysis includes companies that filed proxy statements with the Securities and Exchange Commission between Jan. 1 and April 20. The total pay figures are rounded and are based on the AP's compensation formula, which adds up salary, perks, bonuses, preferential interest rates on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted last year.

1. Aubrey McClendon, Chesapeake Energy Corp., $112.5 million

2. Sanjay Jha, Motorola Inc., $104.4 million

3. Robert Iger, Walt Disney Co., $51.1 million

4. Lloyd Blankfein, Goldman Sachs Group Inc., $42.9 million

5. Kenneth Chenault, American Express Co., $42.9 million

6. Vikram Pandit, Citigroup Inc., $38.2 million

7. Steven Farris, Apache Corp., $37.2 million

8. Louis Camilleri, Philip Morris International Inc., $36.9 million

9. Kevin Johnson, Juniper Networks Inc., $36.1 million

10. Jamie Dimon, JPMorgan Chase & Co., $35.7 million

Comments

[DrFitz]

It's an absolute scandal that FOUR of the top 10 are from the financial services industry. They are absolutely unbelievable. Pitchfork time.

[ProudlyConservative42]

These are awful, awful people.

[helonias]

The top 10 people not getting into the kingdom of heaven

[keepyourheaddown*]

thats right... it is easier to fit through the eye of a needle
than for a rich man to get into heaven...

[schatsie]

TPM has the link to the IRS analysis or whatever where the top 400 people grossed over 250 million each, these are the small guys, think about Warren, he is on more Boards than anyone would want to know... and Colin Powell and Bush and Cheney and Rice....They funnel the income into capital gains and dividends.. and reward each other...

[notAMoron]

Only Aubrey McClellan makes it onto the list of the top 400 tax payers in america, a club where you need to make $110.6MM or more.

http://curiouscapitalist.blogs.time.com/2009/04/15/the-400-richest-americans-and-their-terrible-tax-burden/

[mrfreeze]

HP just posted a most fascinating little piece on the AIG bonuses:

http://www.huffingtonpost.com/2009/05/02/liddy-letter-aig-plans-to_n_195225.html

For those of you who would apologize for the amorality and utter condescension of the ruling financial class in this country.....enjoy.

By the way, I would truly like to know what those employees did to EARN their bonuses.

[vagabondvet]

That's what happens when you bail out companies. I would interpret billions of free dollars from the government as a good year too.

[notAMoron]

"For those of you who would apologize for the amorality and utter condescension of the ruling financial class in this country.....enjoy."

The greatest irony is that all the people who hate on businessmen have no problem with the money doled out to celebrities and athletes. The payroll for the NBA and MLB is higher than the total amount paid to the CEOs of the S&P 500 companies but no one has a problem with that. They think that the ball players have higher moral ground and do more for our society than these guys.

The top guy on that list is no different than Roy Huffington was 50 years ago with HuffCo.

[mrfreeze]

notAMoron - I couldn't agree with you more on this point. We live in a winner-take-all system. Unfortunately, the very people who benefit the least from the bonuses, salaries and graft are more than happy to step up and defend the system.

[ratface]

These salaries are a reward from Congress to whom they give small amounts for their campaigns...did you notice that the CC bill they just passed doesn't even take effect for a YEAR !!
Giving them plenty of time to rack on the charges............throw your damned CC cards out and listen to them scream........even if you pay in full every month, they are making money on you.....while they sleep you all are using those cards.

We need a wholesale sweep on salaries from the top down.........When you see how they spend that money on multiple mansions, yachts, planes, diamonds, furs, designer this, designer that......you just have to laugh, they get grey just trying to figure out what the hell to spend it on.........!!!!!!

We have 15 DEMOCRAT SENATORS TO BE REPLACED who voted with the Banks on the Bankrupcy Bill........start getting some new people lined up..........

[kedikat]

so these ten guys wages could also be the wages of 13447 people making $40000 a year.
10 people, worth as much as at least 13447 people.
And $40000 a year is a pretty decent wage.
Between the 10 of them, I bet they have laid off more than 13000 people.
And I bet they sleep great.

[mrfreeze]

kedikat - But some here on this thread would argue that none of us has the right to restrict what executives make!!!! Somehow, they believe that we don't have a right to judge what's FAIR or not. Gosh, don't you think you're being kind of hard on those poor executives?

[vagabondvet]

Fair is subjective. It's impossible for anything to be universally fair, because everyone has different needs and wants.

[J G H]

Try this one. Add together the salaries of the President, Vice President, 14 Cabinet members, the Chief Justice of the Supreme Court and the 8 Associate Justices, all 100 Senators, and all 435 Members of the House of Representatives, and you come to about $81 million.

While we aare at it, Babe Ruth was criticized for making more than Calvin Coolidge (Ruth said he had a better year); today just about anyone on the roster of a Major League club is making more than the President, and some are making more than the above list, minus the Members of the House. We have a system which has gotten seriously out of balance.

[vagabondvet]

People in government do not create wealth; they take money from the people. Why should they make more money?

[scottarino]

How can we all trust this list? how can we all be sure the the corporate devils at the Associated Press are really telling us the truth....forget it, even I couldn't keep up the false outrage of newbie liberals exercising their phoney anger at any given entity.

[grata2ude]

This isn't a conservative or liberal issue. Its about failure being rewarded and that reward money is coming from the pockets of the middle class in this country. Those very rich execs are given every loophole in the book to hold onto their millions . What did the taxpayers get? Robbed.

[Bafun]

The republicans leitmotiv: when you work hard you achieve success. These people for sure work very very very hard.....ridiculous

[PhilipTaylor]

CALL FOR JUSTICE!

Save Our Country=Properly identifies Financial Improprieties & Exploitative Acts
Punishes=Financial evi1 like Blue Co11ar Crime=Burg1ary, r@pe and m_rder
He!nous Acts=Go unpunished because they are "Financial" rather than Physical?
People Escape Justice=Because attended Ivy League School rather than Community College? Justice=For all!
Create=New Humanitarian Capitalism that rewards Honorable Merit rather than Gamesmanship Penalizes=Ruthlessness, Deception, Exploitation, and Fraternally Protected Incompetence
To Accomplish=Decent People Must Unite across Ideo1ogy, R@ce, Re1igion, Geography, Class
Act NOW w/Prudence=Day coming=Laws NO longer tolerate Uprising against corrupt masters
People Who Care=Must make Larger Commitments to Organize for political/institutional redress

[munki]

Do they really deserve it?

for doing a poor job?

[mcfried]

I don't care too much about the others but the CEO's from the Financials are completely unacceptable. This is the top 10 list given their abysmal performance it's like the Detroit lions being the highest paid team in the NFL - only worse because we paid for it.

[PhilipTaylor]

Wall Street Bailout=Greatest Heist in Monetary History

Obama Campaign="Economic crisis result of deregulation+trickle-down economics last 30 yrs"
Obama Campaign="Trickle Up for Middle Class"="Reinvesting in Main Street+Manufacturing"
"REAL DEAL"=Main Street Pain/Suffering Versus Wall Street Record Gains in April 09
WS Heavy Hitters=Gloves OFF=Lobby hard WS agenda
$100 donations/volunteers=Take Glove Off for "Change We Can Believe In"=Help Obama
Wall Street=funded Obama's campaign+Inauguration+Speaking fees closest advisers
Obama mania=Overlooks Summ+Geith in charge=Reassure WS's top-down recovery
Summers 1991=deregulation, privatization, market's always supreme BUT Reaganism is D_ad!
SummGeith=bailout=crony capitalism=can"t sell bailout Hedge Funds, so buy Banks" toxic debt
Outrage=CEO bonuses&Washington+collusion+Wall St Elites=bvrned down global economy
Stiglitz+Krugman+Others=Outrage=Criticize from sidelines NOT part of administration
Summers=gatekeeper for Obama=Defining Narrow debate=Nothing New Allowed
Obama Team=Trapped in thinking that created Crisis=Serious Problem
Solution=Nationalize banks+break them up=Use Main Street Rage=FDR passed Glass-Steagall
Summ+Geith=trading favors between corporate-political elites for Wealth/Power=No Change
Taxpayers=So much risk+debt=Crisis down road=Justify cutting social security+health care
Main Street Rage=Principled Alternative=hopeful sense "our time has come"
Outrage=Not one Banker in Jail=Europe Demonstrations against Bankers
Grassroots=spontaneous revolt against Elites+Principled Anger=Demonstrations
Obama=no excuse for Not re-regulating=$Trillions out&then regulate months later=Corrupt
Obama"s leverage when handing banks money="You want a bailout then here are the new rules"
Impenetrable culture=Washington-Wall Street=Own ears of Congress+Obama policymakers
Hedgsters+Banksters=Say what policy(s) work=always behind scenes Congress&Obama
Main Street Middle-Class Versus Wall Street-Washington Status Quo Juggernaut=Toxic CRISIS

[smarternu]

Nice to see the Cancer Company (No. 8) is still doing so very well.