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Fri Apr 13, 2012, 03:49 PM

Goldman Sachs CEO gets $16.2 million pay package

Source: Reuters

(Reuters) - Goldman Sachs Group Inc Chief Executive Lloyd Blankfein's compensation increased 14.5 percent to $16.2 million in 2011 despite a sharp decline in profits and share price during the year, leaving the bank open to more attacks on its pay policies.

Blankfein's pay boost includes stock awards from previous years that vested in 2011, and therefore does not reflect the amount that Goldman's board awarded him strictly for the company's performance last year.

Goldman offered another figure, $12 million, as the amount Blankfein received for his performance last year. That number reflects a 35.5 percent decline from 2010, when Blankfein received $18.6 million in performance pay.

The $16.2 million figure comes from a formula the U.S. Securities and Exchange Commission requires companies to use when reporting pay packages in proxy filings, where Goldman detailed Blankfein's compensation on Friday.

Both the SEC's formula and Goldman's formula include a $2 million salary and a $3 million cash bonus. The SEC formula also reflects $454,332 Blankfein received last year in benefits and perks, such as life insurance and a car and driver.

Read more: http://www.reuters.com/article/2012/04/13/us-goldman-compensation-idUSBRE83C0UP20120413

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Reply Goldman Sachs CEO gets $16.2 million pay package (Original post)
MindMover Apr 2012 OP
bluesbassman Apr 2012 #1
aquart Apr 2012 #2
bluedigger Apr 2012 #3
sarcasmo Apr 2012 #4
unkachuck Apr 2012 #5
sarcasmo Apr 2012 #6

Response to MindMover (Original post)

Fri Apr 13, 2012, 03:53 PM

1. Hey, it's tough steering a boat with no rudder.

Unbelievable hubris.

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Response to MindMover (Original post)

Fri Apr 13, 2012, 04:05 PM

2. I'm not greedy. I want my gov't to get 90% over ten million.

Buffett pocket change only applicable to first ten million.

BECAUSE I AM REALLY GETTING PISSED OFF.

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Response to MindMover (Original post)

Fri Apr 13, 2012, 04:14 PM

3. He's not even trying.

Think how much he could make if he bankrupted them!

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Response to MindMover (Original post)

Fri Apr 13, 2012, 08:14 PM

4. Makes my stomach turn.

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Response to MindMover (Original post)

Fri Apr 13, 2012, 09:43 PM

5. and what kind of taxes....

 

....does uncle lloyd pay on his $16.2 million? 15%?

....but let's cut SS, Medicare and Medicaid cause we're broke....there's class warfare here, not only in compensation but also in societal obligation....

....we're being carpet-bombed by wall-street scum, corrupt politicians and an economic system that makes a mockery out of fairness and justice....

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Response to unkachuck (Reply #5)

Sat Apr 14, 2012, 09:45 AM

6. I would bet even lower than 15%

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