Pay soars for Wall Street CEOs

[Aidoneus]

Pay soars for Wall Street CEOs
By Jamie Chapman
1 April 2004

While over two million US workers received pink slips last year, Wall Street chief executives treated themselves to some of their fattest pay packages ever.

Leading the pack was Citigroup’s Sanford Weill, who was paid $44.6 million—$122,000 a day including Saturdays and Sundays—for his work as chairman and CEO of the world’s largest financial services company. The cash portion of his 2003 package came to $30 million ($1 million in salary plus a $29 million bonus), an unprecedented amount according to corporate compensation analysts.

--snip--

The combined total doled out to Citigroup’s top three executives came to over $102 million.

Elsewhere on Wall Street, Merrill Lynch’s president and CEO, E. Stanley O’Neal, received his largest paycheck ever at $28 million—half in cash, and more than triple his 2002 pay. O’Neal is credited with boosting Merrill Lynch’s profits to a record $4 billion last year after cutting over 20,000 jobs at the company.

--snip--

http://www.wsws.org/articles/2004/apr2004/ceo-a01.shtml

[Jim Sagle]

1. Well of COURSE their pay soared.

The whole point of firing their workers is to grab their pay! Duh!

[keithyboy]

2. And the Freepers believe the Republicans really care about them?

Hahahahahaha...

[porkrind]

3. CEOs to Freepers:

Keep swallowing all the wedge issues we throw at you to distract you while we steal you blind. My, my, Freeper, you are so sexy, smart and handsome, and god loves you more than liberals because you are just better than them.

By the way, thanks for working long hours for serf wages, with free overtime and no health insurance. Don't worry that your job is being exported to India, there will always be a place for you at McDonalds or WalMart. Thanks a bunch for your loyalty!!

Sincerely,

Neocon fascist CEOs care of the Republican Party. :hi:

[LoZoccolo]

4. And /we're/ the 'elitists'!

There was a thread on there a long time ago about how Dean was getting all these contributions and someone said that Bush* gets his through small donations from ordinary people.

WAR IS PEACE.
FREEDOM IS SLAVERY.
IGNORANCE IS STRENGTH.

[sandnsea]

5. It's what they say

Republicans. It was to point out how statistics can be skewed. You can have 1,000 people giving $20 a piece, and a few people giving HUGE donations, and still have the math look like you're being funded by small donors. That's how they come up with their tax cut numbers too. And confuse over 50% of the people who now think their taxes are going to increase when we're really only talking about 2% of the population. They play with numbers and there was no way of knowing, at the time, whether Howard Dean was doing the same thing.

http://www.opensecrets.org/pubs/bigpicture2000/overview/donations.ihtml

[City Lights]

6. Makes me

:puke:

[Mayberry Machiavelli]

7. Employment #'s not so great, but the "Kozlowski/Lay" Index of # of multi-

million dollar birthday extravaganzas thrown by megamillionaire CEO's is doing great, and that's the REAL measure of the health of our economy. Didn't Elaine Chao (Sec Labor) say that "the stock market is the final arbiter when it comes to the economy?"