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Cashing In: The 10 Highest Paid CEOs and Their Compensation
Holy cash. The 10 highest paid corporate captains are raking in an astronomical amount of money, so much that it's difficult to conceptualize earning that much in one year. According to a new report from The Corporate Library, seven of the 10 made more than $100 million last year including salary and stock options.
Should White House Guests Pay For Their Own Meals?
Times have changed. On two recent occasions, CEOs of prominent corporations were asked for their credit cards to pay for a White House lunch to which they were invited. Surely they expensed the mid-day meals to their company accounts, but the instances have made news because they're without precedent.
How Money Are You: Powerful CEOs' First Jobs After College
Just like the many celebrities who started their careers in less-than-glamorous jobs, the CEOs of some of the largest corporations had to work their way up to rollin'-in-it status. It would be awesome to say your job is, oh, just running Yahoo or Microsoft, but you can't exactly step out of college and fill a CEO's shoes. How much do you know about CEOs' first jobs?
Two Women, Two Groundbreaking Fortune 500 Events
Big things are happening in big business. In one swoop, two history making events occurred and each of them is pretty remarkable. Anne Mulcahy, CEO of Xerox, has selected Ursula Burns as her successor and will officially transition on July 1.
Which Fortune 500 Companies Are Run by Women?
America's largest corporations make up the Fortune 500, and the overwhelming majority of these companies have male CEOs. But that doesn't mean you have to be a guy to be the big boss. Fifteen women have worked their way to the top of their game and earned the title of CEO.
AIG Gave Execs Lavish Retreat After $85 Billion Bailout
One of the visible side effects of the financial crisis has been greater attention on executive greed. A Congressional hearing on the credit crisis is taking a deeper look at the issues, and some digging into insurance giant AIG's habits has divulged some disturbing details.
Just one week after AIG was bailed out by the federal government, its life insurance subsidiary AIG General spent $442,000 on a week long retreat for top sales executives.
Guess How Much: WaMu CEO's Severance
Washington Mutual's CEO Alan Fishman was hired on Sept. 7, less than three weeks before the bank failed and was purchased by JP Morgan Chase. JP Morgan hasn't decided the fate of the newbie CEO, but we can bet if he gets the boot he'll walk with much more than the $60,000 he was paid during those three weeks.
Guess How Much: Millionaire CEO Compensation
Big companies have been making even bigger headlines these days, and all the recent economic drama has encouraged greater scrutiny regarding how much the CEOs of these companies are taking home.
Six figures would be nice for most individuals, but these executives have been taking home as much as nine figures! Can you guess how much some CEOs have made including base salary, stock, and bonuses?
Would You Abandon a $22 Million Golden Parachute?
The CEOs of Fannie Mae and Freddie Mac were refused the generous golden parachutes they'd been counting on when their respective enterprises were taken over by federal regulators, and most recently the replaced CEO of American International Group (AIG) voluntarily abandoned his $22 million severance package.
Robert Willumstad served as CEO to insurance giant AIG and could have taken his $22 million into a slightly early retirement at the age of 63, but he stated, "I prefer not to receive severance payments while shareholders and employees have lost considerable value in their AIG shares." What would you do in his position — would you walk away from this kind of package or take the money and move on?
Definition: Golden Parachute
Golden parachutes soften an executive's fall when the company she leads is acquired and there's a change in ownership, leading to the dismissal of the particular executive. The parachute is a predetermined amount in excess of an executive's normal compensation and may be a combination of stock options, bonuses, and severance pay.
Most recently, the term has appeared in the news because the CEOs of Fannie Mae and Freddie Mac were refused their golden parachutes when their companies were taken over by federal regulators.
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