HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » 10 outrageously lavish CE...
Introducing Discussionist: A new forum by the creators of DU

Wed Jan 16, 2013, 01:39 PM

10 outrageously lavish CEO perks

http://money.msn.com/investing/10-outrageously-lavish-ceo-perks

While many Americans continue to struggle with shrinking pay, the sputtering economy hasn't slowed the gravy train in corner offices.

The value of CEO perquisites -- goodies like personal use of the corporate jet, cars and drivers, gyms and extra retirement contributions -- jumped 8.6% in 2011, the most recent full year of data available, says a recent study by Equilar, an executive compensation data firm. (Visit the firm at equilar.com). CEOs at Fortune 100 companies got a median $248,638 worth of perks.

In other words, in perks alone CEOs got almost five times the U.S. median household income, which shrunk 1.5% to $50,054 in 2011. (CEO pay was also up lot, rising 6.6% to $9.6 million at Standard & Poor's 500 ($INX) companies, says Equilar.)

"Giving out more perks to executives while most employees are struggling with stagnant pay, cuts in benefits and unemployment adds insult to injury," says Jennifer O'Dell, of the Laborers' International Union of North America.

Boards are so generous that perks alone can add up to more than what most people make in a lifetime, points out Stephen Lerner, a former union organizer for the Service Employees International Union. Jeff Bezos at Amazon.com (AMZN) and Larry Ellison at Oracle (ORCL), both multibillionaires, each got more than $1.5 million for home security alone. "It is obscene," says Lerner, who adds, "CEOs are the new royalty."

2 replies, 758 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply 10 outrageously lavish CEO perks (Original post)
antigop Jan 2013 OP
sharp_stick Jan 2013 #1
antigop Jan 2013 #2

Response to antigop (Original post)

Wed Jan 16, 2013, 01:52 PM

1. That's what happens

when CEO's routinely sit on each others boards and vote up the salary and perk list.

It's a great inside scam and they've passed it off beautifully as "well we've got to compete in salary to hire and retain the best".

Reply to this post

Back to top Alert abuse Link here Permalink


Response to sharp_stick (Reply #1)

Wed Jan 16, 2013, 02:02 PM

2. Yep. nt

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread