"He doesn’t leave anything on the table, does he?" John Hammergren is the CEO of McKesson, a major healthcare system and pharmaceutical provider. He earned $145 million last year, not including an employer-contributed $13 million to his executive pension plan (the employee pension plan was shuttered in 1997, before Hammergren's tenure began), unlimited personal use of a corporate private jet, car and chauffeur, and other perks like a
lifetime personal assistant and office and financial counselor. In his ten years with McKesson, Hammergren has earned over $500 million. The Daily Beast dives into the extraordinary compensation of the 0.01%. If you're so inclined, the
EDGAR filing has the excruciating detail, including bits like this:
[more inside]
posted by disillusioned
on Jan 4, 2012 -
93 comments
Corporations don't dodge taxes. People do. "The report found that the CEOs of 25 major companies paid themselves more than their companies paid in Federal income taxes. Exhibit 1 on page 31 names and shames them (well, assuming they are capable of shame), and they include John J. Donahoe of eBay, Robert Coury of Mylan Labs, Jeff Immelt of GE, and Robert Kelly of Bank of New York. The New York Times article on the report elicited some not-convincing rebuttals."
NYT version
[via]
posted by marienbad
on Sep 1, 2011 -
72 comments
"A ballet dancer needs a mirror to perfect her style, her technique. A singer needs the same -- an aural mirror."
In 1950 and '51, Japan’s first reel-to-reel tape recorders, the "
G-Type"
(for gov't use) and the "
H-1"
(for home use) were released by a company named Tokyo Tsushin Kogyo. Music student Norio Ohga was unimpressed by the wobbly sound of "
Talking Paper," so he wrote a note complaining to the firm's founders, who hired him. Mr. Ohga never achieved his original dream of becoming a baritone opera singer, but the future President of TTK, (later renamed Sony,) would still make an indelible, global impact on the world of music -- including the development and introduction of the compact disc. Mr. Ohga
died on April 24, 2011.
[more inside]
posted by zarq
on May 4, 2011 -
3 comments
Ken Lay & Enron. Bernie Madoff. Bernie Ebbers & WorldCom. What is it about CEOs that makes them uniquely capable of pulling off the most audacious & expensive kind of white collar crime?
Control Fraud Theory has the answer. Via the ever-enlightening
Bruce Schneier.
posted by scalefree
on Nov 8, 2010 -
37 comments
CEO of Russia's largest oil company in jail The guy sounds like a crook to be sure; but its an interesting contrast to the US. When was the last time in this country someone with limitless financial resources was thrown in jail? Is
Key Lay in jail? How about
Bernie Ebbers? (Worldcom getting
Iraq contracts is of course another story)
Jeff Skilling? With all the talk of crony-capitalism anymore its easy to get desensitized. But to get a reality check on how to treat toplevel white-collar crime from Russia of all places is sobering.
posted by H. Roark
on Oct 26, 2003 -
23 comments
It's all about shareholder value. Steve Jobs has received tremendous positive press for only accepting one dollar per year as payment for his CEO services at Apple. How does he do it, you ask? Well, he supplements his income by a) being a billionaire, and b) renting out his corporate jet to Apple, at a cost of over 1.2 million dollars, over the past two years. Which is an exceptionally generous rental fee considering that Apple itself paid $90 million for the jet, which it bought for Jobs in May of 2001. This data was disclosed along in the most recent quarterly report in which Apple announced layoffs of 260 employees, none of whom were given a jet.
posted by jonson
on Feb 14, 2003 -
13 comments
The scariest costumes this year represent those that crushed the dreams of many, bilked millions from strangers, and got away. Psycho Killers? Crazed Snipers? No, Forbes gives you:
CEO Halloween masks. I know the kids will love going as
Martha. It's a good thing.
posted by mathowie
on Oct 29, 2002 -
14 comments
This explains everything! Mystified by the recent flurry of corporate meltdowns? Do you find yourself thinking: "Are those CEOs CRAZY?" Well maybe they are!
posted by BGM
on Aug 29, 2002 -
14 comments
You've got Jail is a light hearted, easy summer reading and informative article which explodes the myth that malfeasing CEOs get sent to "Club Fed", a prison so minimum in insecurity that its really like an enforced vacation in the country rather than the
more typical round of
incarceration. Required reading for the Skillings, Rigas, Taubmens and every college student considering an MBA.
(So is the
MeFi fascination with Prison life an
idle one or am I keeping the wrong company?)
posted by BentPenguin
on Jul 30, 2002 -
5 comments
The CEO White House has yet another CEO with credibility problems. On Mr. O'Neill: "Administration officials "need to bring in someone with real credibility, with a good understanding of economics and who understands politics," said Stephen Moore, president of the Club for Growth, a conservative political action committee."
posted by nofundy
on Jul 18, 2002 -
2 comments
Cheney in Numbers. It's hard to spin hard cold numbers. Here's a few:
*Cheney's 2000 income from Halliburton: $36,086,635
Increase in government contracts while Cheney led Halliburton: 91%
*Minimum size of "accounting irregularity" that occurred while Cheney was CEO: $100,000,000 (One hundred MILLION dollars)
*Number of the seven official US "State Sponsors of Terror" that Halliburton contracted with: 2 out of 7
*Pages of Energy Plan documents Cheney refused to give congressional investigators: 13,500
*Amount energy companies gave the Bush/Cheney presidential campaign: $1,800,000
I
also loved this quote:
"Cheney and Bush want privacy for their conversations, but not for anyone else's." --Tony Mauro in USA Today, Feb. 27, 2002
posted by nofundy
on Jul 16, 2002 -
25 comments
Keep your CEO out of grad school. I found this article to be provocative. Can the performance of a CEO be judged by just one number (i.e., return to shareholders)? Shouldn't the study be controlling for size of firm, industry characteristics, economic cycle etc.? What do you think?
posted by SandeepKrishnamurthy
on Apr 29, 2002 -
2 comments
Who said execs have it rough?... Poor George Shaheen, former CEO of Webvan. His company expanded in to more markets than necessary, gobbled up HomeGrocer (I loved their commercials and catchy theme song - "Would you like to have something to eat") then spit Dallas and Atlanta out.
Here are sweet details of the deal Shaheen negotiated after stepping down last month. Under the terms of his retirement package, Shaheen will receive 50 percent of his base salary and target bonus for the rest of his life.
All to the tune of $375,000 a year for life.
Sob,
I wonder if Shaheen is Irish.
Just curious.
posted by lheiskell
on May 15, 2001 -
10 comments
Now, I have nothing but respect for Carly Fiorina. She's done an outstanding job at HP and deserves to be rewarded. But I've never understood this business of having the CEO also be the chairman of the Board.
The most important job that the Board of Directors has is to decide when to fire the CEO, which I emphasize that Ms. Fiorina does not deserve in the slightest
at this time. But that time may eventually come, as it does for all CEOs, and how the hell do you do it if the CEO you're trying to fire is also the chairman of the Board of Directors?
Would Corel be in the mess it's in today if Michael Cowpland had not been on its board?
posted by Steven Den Beste
on Sep 23, 2000 -
8 comments
