Report: 25 Firms Paid More In CEO Pay Than Taxes In 2010

http://www.lex18.com/news/report-25-firms-paid-more-in-ceo-pay-than-taxes-in-2010/

(AP) - Twenty-five of the 100 largest U.S. corporations paid their chief executives more last year than they paid in federal income taxes, according to a report released Wednesday.

The nonprofit Institute for Public Accuracy says the 25 CEOs averaged $16.7 million in salary and other 2010 compensation.

Most of the companies they ran, meanwhile, came out ahead at tax time. They collected tax refunds that averaged $304 million, based on a review of public filings. The think tank says the 25 firms that paid out more in CEO compensation than U.S. taxes reported average global profits of $1.9 billion.

The institute, based in San Francisco, describes itself as a national consortium of independent analysts and activists with progressive views who work with social movements to challenge corporate influence and military power.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Yawn.

The board of directors (elected by the shareholders) of a corporation are the ones who set the pay for a CEO and other officers of a corporation. Also, they are under contract once they hire the CEO (or other officers) to pay them the rate they hired them at.

CEOs averaged $16.7 million in salary and other 2010 compensation.

Plus, they never mention what that compensation is. Shares? What? There's a lot left out of this article.

So what? You think the board of directors cares about how much a CEO makes? If he's good and they want him, they give him what he wants.

You're not being serious? CEOs get all kinds of compensation and perks... company vehicle (even with a driver sometimes), private jets, shares, gas money, etc. The list goes on and on.

BubbleBliss wrote:So what? You think the board of directors cares about how much a CEO makes? If he's good and they want him, they give him what he wants.

It isn't a matter of "caring" but a matter of market value. It's no business of anyone's on how much a CEO makes other than the board of directors and the shareholder. The shareholder pay the salary, obviously.

BubbleBliss wrote:You're not being serious? CEOs get all kinds of compensation and perks... company vehicle (even with a driver sometimes), private jets, shares, gas money, etc. The list goes on and on.

That's what I meant (if you would read what I said). The article doesn't mention what the "compensation" is. It can be more than a salary. It most likely does.