Saturday, January 28, 2012
Dan Kloeffler, ABC News
Submitted by: Kevin J. Ziruolo

Study Finds 21 CEOs Paid $100 Million Plus Golden Parachutes

Golden parachutes are disgusting contractual provisions that compensate executives handsomely after they have "walked away" from their job, typically for being fired.

[ABC News] According to the GMI Ratings Report, 21 CEOs received more than $100 million each in "'walk away" packages. In all, companies like GE, Exxon Mobil Corp., AT&T and Home Depot Inc., have collectively provided nearly $4 billion in golden parachutes. But according to Paul Hodgeson, those figures could be on the low-side.

Keep in mind, these obscene compensation packages do not include normal salary, benefits, or perks of the job.

Five biggest golden parachutes:

  1. General Electric - John F. Welch Jr., 1981-2001, $417,361,902.00
  2. Exxon Mobil Corp. - Lee R. Raymond, 1993-2005, $320,599,861.00
  3. UnitedHealth Group - William D. McGuire, 1991-2006, $285,996,009.00
  4. AT&T - Edward E. Whitacre Jr., 1990-2007, $230,048,463.00
  5. Home Depot Inc. - Robert L. Nardelli, 2000-2007, $223,290,123.00
Posted by Editor on 01/28/12 at 05:06 PM •  (0) Comments

Tags:  wealth, ceo,

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Vile Quotes

"America does not have an aristocracy or a plutocracy."
Art Pope