SavvySugar

Cashing In: The 10 Highest Paid CEOs and Their Compensation

SavvySugar — Tue, 18 Aug 2009 04:30:30 -0700

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. Check out what the top dogs made in the list below.

Michael Jeffries, Abercrombie & Fitch Co.: $71,795,744
Eugene Isenberg, Nabors Industries Ltd.: $79,333,079
Mark Papa, EOG Resources, Inc.: $90,471,784
Bob Simpson, XTO Energy Inc.: $103,485,972
Aubrey McClendon, Chesapeake Energy Corp.: $114,286,867

See the rest of the list, including the absolutely ridiculous number one earner's compensation, when you read more.

Michael Watford, Ultra Petroleum Corp.: $116,929,392
John Hess, Hess Corp.: $159,566,940
Ray Irani, Occidental Petroleum Corp.: $222,639,705
Lawrence Ellison, Oracle Corp.: $556,976,600
Stephen Schwarzman, Blackstone Group: $702,440,573

Should White House Guests Pay For Their Own Meals?

SavvySugar — Sat, 01 Aug 2009 08:30:45 -0700

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.

White House spokeswoman Jen Psaki explained, "From time to time, White House guests are asked to reimburse for their meals in order to ensure there is no conflict or appearance of a conflict. That is consistent with our tough ethics rules, and we will continue the practice when appropriate."

How Money Are You: Powerful CEOs' First Jobs After College

SavvySugar — Fri, 12 Jun 2009 10:30:41 -0700

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? Take the quiz!

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Two Women, Two Groundbreaking Fortune 500 Events

SavvySugar — Fri, 22 May 2009 12:00:05 -0700

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. It's the first Fortune 500 woman-to-woman CEO hand-off, and Ursula's new role will make her the first African-American female CEO in the Fortune 500.

The two have been called "Xerox's Dynamic Duo" and worked together since 2001 when Mulcahy was appointed CEO, and the pair is credited with saving the company from bankruptcy. Burns will now take the reigns as chief, but Mulcahy will stay on as chairman. These two are role models as individuals and as a team - I hope more women will start supporting each other in the climb to the top, instead of bullying one another in the workplace.

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Which Fortune 500 Companies Are Run by Women?

SavvySugar — Thu, 30 Apr 2009 13:30:11 -0700

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. Do you know which Fortune 500 companies are run by women?

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AIG Gave Execs Lavish Retreat After $85 Billion Bailout

SavvySugar — Wed, 08 Oct 2008 04:00:33 -0700

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. The retreat took place at St. Regis Resort in Monarch Beach, CA, where the group rested (they spent $200,000 on hotel rooms), wined and dined ($150,000 was spent on food), and relaxed (there were $23,000 in spa charges). Are you wondering what the retreats were like before the bailout? Me, too.

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Guess How Much: WaMu CEO's Severance

SavvySugar — Thu, 02 Oct 2008 15:30:36 -0700

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. Can you guess how much Fishman could receive for his severance package?

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Guess How Much: Millionaire CEO Compensation

SavvySugar — Fri, 26 Sep 2008 08:00:43 -0700

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?

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Would You Abandon a $22 Million Golden Parachute?

SavvySugar — Wed, 24 Sep 2008 12:30:15 -0700

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?

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Definition: Golden Parachute

SavvySugar — Tue, 16 Sep 2008 15:30:31 -0700

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. The government has refused to pay out the fired executives, whose packages are estimated to total up to $25 million, and it's not clear what the CEOs may end up taking away. One thing is clear: The collapse of Fannie and Freddie has already impacted the CEOs' net worth - since March, Fannie's CEO's stake in the company went down to $683,000 from $23.7 million.

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