executive compensation

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Google CFO Gets $70M for Leaving Wall St.

Ruth Porat will be paid more than her Morgan Stanley boss

(Newser) - If Google paid its employees in gold, Ruth Porat would be getting more than 3,500 pounds of it for leaving Morgan Stanley to join the company. Instead, she's getting more than $70 million in stock bonuses and cash to become Google's new chief financial officer, reports the...

Marissa Mayer Fires High-Priced No. 2

Henrique de Castro will be getting a big payday

(Newser) - Marissa Mayer has fired COO Henrique de Castro, 15 months after she snatched him away from Google on an outsized four-year package worth an estimated $62 million. That was Mayer's first big hire as CEO, but he hasn't been able to boost Yahoo's flagging ad revenue as...

Netflix Gives Eye-Popping Raise to CEO

Reed Hastings gets rewarded for stock's meteoric rise

(Newser) - Netflix CEO Reed Hastings is being rewarded handsomely for the network's recent success in the original content game. The CEO's pay will jump 50% in 2014, according to regulatory filings spotted by Reuters . He'll make $6 million, split evenly between stock and cash. Other top executives will...

Almost 1 in 3 Bank Tellers Need Public Assistance

And that's costing taxpayers almost $900 million a year

(Newser) - You probably don't think of bank tellers the same way you think about, say, the fast food workers protesting today , but they, too, have ample reason to complain about their wages, a new report suggests. Nearly a third of tellers are on some form of public assistance, according to...

Swiss Voters Dump Plan to Ax Executive Pay

Salaries would have been capped at 12 times lowest

(Newser) - A measure that would have ensured bosses didn't make more in a month than their lowest-paid workers made in a year has been voted down in Switzerland. The 1:12 Initiative for Fair Pay, which would have capped executive salaries at 12 times that of their lowest-paid employee, was...

Let&#39;s Outsource Our CEOs




 Let's Outsource Our CEOs 
OPINION
Jul 2, 2013 1:21 PM CDT

Let's Outsource Our CEOs

Matthew Yglesias on the wild, and arbitrary, differences in CEO pay

(Newser) - It's not exactly breaking news that CEOs make a ton of money . But as Matthew Yglesias at Slate looked through a new database of CEO pay, he also noticed that CEOs' paydays are incredibly arbitrary; there's "certainly no clear link to corporate performance." But there are...

Public University Presidents Rake in Millions

Disgraced former Penn State boss Graham Spanier leads the pack

(Newser) - Last year, four public university presidents boasted compensation of more than $1 million, a study finds. At the top: Graham Spanier, the former Penn State president driven out by the Jerry Sandusky sex abuse scandal. Spanier made $2.9 million in the 2011-2012 fiscal year; part of that was his...

Yahoo Gave Marissa Mayer $1.1M Bonus After 6 Months

Plus restricted stock worth $13.3M

(Newser) - Marissa Mayer got a pretty sweet six-month anniversary gift from Yahoo: She spent just half of 2012 as CEO, and got a $1.12 million cash bonus for her troubles, CNNMoney reports. She also received restricted stock worth $13.3 million, according to company filings. This year Mayer, who started...

JPMorgan Cuts CEO Dimon's Pay in Half—to $11.5M

Meanwhile, traders at Morgan Stanley get IOUs

(Newser) - That sound you're hearing is probably Wall Street's tiniest violin playing for Jamie Dimon. As many expected , JPMorgan Chase's board slashed the CEO's salary in response to the "London Whale" disaster, dropping his incentive pay a backbreaking 53.5% to $10 million, leaving him a...

Obama: Romney's a Bullsh***er

President gives wide-ranging cover interview with 'Rolling Stone'

(Newser) - President Obama sat for a wide-ranging cover interview with Rolling Stone, and took a not-very-subtle jab at his opponent right off the bat, reports Politico , which notes the president's "genuine disdain" for Mitt Romney. When told by his interviewer that his 6-year-old told him to tell the president,...

Citi Shareholder Revolt Bad News for Other Big Banks

Wells Fargo, Bank of America may have reason to worry

(Newser) - Now that shareholders have rejected Citigroup CEO Vikram Pandit's $15 million pay package, all eyes are on Wells Fargo and Bank of America, both of which are holding their own "say on pay" votes in the coming weeks. The votes are required as part of post-financial crisis financial...

Number of CEOs Making $50M+ Climbs

May have been higher than ever last year

(Newser) - Two more executives last year joined what USA Today calls the "$50 Million Club," the group of executives who—you guessed it—make $50 million or more per year. Annual proxy statements filed this week show that compensation for Occidental Petroleum's Ray Irani was valued at $80....

MF Global Execs to Still Get Bonuses

COO, CFO, and general counsel stuck around to help trustee

(Newser) - MF Global may have gone down in a ball of flames, but its chief operating officer, chief financial officer, and general counsel are all likely to get six-figure performance-based bonuses anyway, the Wall Street Journal reports. All three execs stuck around after the crash to help trustee Louis Freeh deal...

Chrysler CEO Turns Down Pay for Second Year

Marchionne takes $0 home despite repayment of bailout loans

(Newser) - Chrysler made a $225 million profit last year but its CEO didn't get a penny of it, a regulatory filing reveals. Sergio Marchionne, widely credited with turning around the company's fortunes after its bankruptcy in 2009, declined a salary and bonus for the second year in a row...

Inside Bankers&#39; &#39;Malaise&#39; Over Slashed Bonuses
Inside Bankers' 'Malaise'
Over Slashed Bonuses
in case you missed it
Mar 3, 2012 7:00 PM CST

Inside Bankers' 'Malaise' Over Slashed Bonuses

Wall Street workers finding it difficult to get by, or so they say

(Newser) - Wall Street bankers received smaller bonuses this month, and it is really hard for them. If you're having trouble dredging up any sympathy, perhaps that's because you just don't understand what it's like to be in the 1%: "People who don’t have money don’...

Taxpayers Have Paid Millions to Defend Fannie Execs

FHFA has spent $37M on accused fraudsters since takeover

(Newser) - The US government has sunk almost $100 million into defending a trio of ex-Fannie Mae executives accused of securities fraud, including $37 million since the government took control of the firm, according to a regulatory analysis released today. The Federal Housing Finance Agency is on the hook for those costs...

Hey, Wall Street: Shut Up About Bonuses
 Hey, Wall Street: 
 Shut Up About Bonuses 
Matt Taibbi
Feb 9, 2012 1:06 PM CST

Hey, Wall Street: Shut Up About Bonuses

Matt Taibbi says bankers are still overpaid

(Newser) - Matt Taibbi was incredulous when he read a recent New York piece in which Wall Street denizens whined that Dodd-Frank was limiting their bonuses. "I watch what I spend," one banker lamented, "but my girlfriend likes to eat good food," which adds up fast. "Quelle ...

2011's Top-Paid CEO: Apple's Tim Cook*

*Assuming Jobs' successor sticks around 'til 2021, that is

(Newser) - The AP turned some heads yesterday when it reported that Tim Cook might have been the highest paid CEO in America in 2011, with total pay worth some $378 million. But the key word in that sentence is "might," notes Philip Elmer-DeWitt of Fortune . It's still not...

Netflix Boss' Stock Options Cut in Half

Reed Hastings pays for battered share price

(Newser) - Netflix CEO Reed Hastings is paying the price for the price hike / Qwikster debacle that has sent the company’s share price down 75% since July. Hastings' annual stock option allowance will be cut by 50%, bringing it to $1.5 million, the company revealed in a regulatory filing...

America's Top CEOs Had a Nice Fat 2010

How nice? Their compensation jumped 27% to 40%

(Newser) - Today, in Depressing Coincidences in Journalism, we're greeted with the news that nearly 50% of Americans are living below the poverty level or very close to it—and the news that America's top CEOs saw their 2010 pay jump a crazy 27% to 40%. The latter revelation comes...

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