CEOs Live the Good Afterlife

From private jets to bodyguards, they just keep taking

(NEWSER) - The CEOs of bailed-out banks and financial companies saw their perks and benefits—ranging from private jet use and country club membership to free parking and bodyguards—rise even at the height of the crisis last year. On average, the CEOs of the 29 biggest companies that received federal money got $380,000 worth of perks in 2008, and for half of them, that was an increase over the year before. Meanwhile, non-financial CEOs had their perks cut by 7%. More»

Corporations eliminate second-in-command roles to save on costs

(NEWSER) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while only 20 added. "The CEO wants to be closer to the action," one headhunter said. More»

(NEWSER) - More American CEOs than not received raises in 2008, Reuters reports. An AFL-CIO poll of 946 chief executives saw 480 with increased pay, while 463 took a cut. Salaries were up 7%, too; execs with raises earned an average of $5.4 million, while those who saw cuts took in an average of $3.9 million. The union hopes the results will spark a conversation on executive compensation. More»

Gov't measures to curb cash have backfired with strategies to win execs even more

(NEWSER) - Will the financial crisis slash the pay of executives who helped get us into the mess? Probably not, if past trends continue, writes David S. Hilzenrath in the Washington Post. When government in the past has fought to curb bosses’ cash flow, corporate boards have generally found a way to skirt the spirit of the rules—often making executives even more money as a result. More»

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 via the Guardian , which reports on an exclusive review of data released by GMI Ratings, in a survey of 2,647 US companies. Among its findings: More»