America the Beautiful. Hank hits a homerun or 198.

[jk]

Re: America the Beautiful. Hank hits a homerun or 198.

it's only dollars, jim.

[Jim Nickerson]

Re: America the Beautiful. Hank hits a homerun or 198.

Steve Jobs is top-paid CEO; hikes average 38 percent: report

http://ca.news.yahoo.com/s/afp/07050...xecutive_pay_2

Fri May 4, 3:54 PM

NEW YORK (AFP) - Steve Jobs of Apple was the top-paid US chief executive last year in 2006, receiving some 646 million dollars, Forbes magazine said.

Even though Jobs was paid a nominal one-dollar salary, the value of his stock options and other benefits made him the highest compensated CEO, the magazine said.

Forbes, in releasing its survey late Thursday, said the CEOs of America's 500 biggest companies got a collective 38 percent pay raise last year, to 7.5 billion dollars, or an average 15.2 million dollars.

Exercised stock options accounted for the main component of pay, or about 48 percent, Forbes said.


Number two on the list was Occidental Petroleum's Ray Irani with 321.6 million dollars, followed by Barry Diller at InterActive Corp (295 million), Fidelity National's William Foley (179 million) and Terry Semel of Yahoo (174 million).


Michael Dell, who retook the reins at Dell Computer, was sixth with a compensation package worth 153 million dollars.

With an outcry growing over extravagant pay packages for US corporate executives, Forbes said the highest-paid CEOs were not always those that delivered the most to shareholders.


Forbes said by its analysis, Apple's Jobs was 36th. Topping the list was John Bucksbaum of General Growth Properties, a real-estate investment trust. Over the past six years, Bucksbaum was paid 723,000 dollars a year while delivering a 39 percent annual return to shareholders.


At the bottom of the performance/pay rankings was Richard Manoogian, CEO of housing products maker Masco, with a six-year annual return of five percent and a paycheck averaging 11 million dollars a year.

[Jim Nickerson]

Re: America the Beautiful. Hank hits a homerun or 198.

Bull market hikes stock option payouts for CEOs
By Laura Mandaro, MarketWatch
Last Update: 2:53 PM ET Jun 9, 2007


SAN FRANCISCO (MarketWatch) -- Occidental Petroleum Corp. CEO Ray Irani topped the list of U.S. chief executives who made the largest gains from exercising their stock options last year, with a gain of $270.2 million, said the Associated Press Saturday.

The news agency said investment banks and energy companies were the sectors with the highest paid leaders.

[Jim Nickerson]

Re: America the Beautiful. Hank hits a homerun or 198.

http://news.yahoo.com/s/nm/20070829/...LNsdFrg8xkM3wV

CEO pay and benefits on the rise: report 08/29/07

WASHINGTON (Reuters) - Top executives at major businesses last year made as much money in one day of work on the job as the average worker made over the entire year, according to a report released on Wednesday.

Chief executive officers from the nation's biggest businesses averaged nearly $11 million in total compensation, according to the 14th annual CEO compensation survey released jointly by the Institute for Policy Studies based in Washington and United for a Fair Economy, a national organization based in Boston.

At the same time, workers at the bottom rung of the U.S. economy received the first federal minimum wage increase in a decade. But the new wage of $5.85 an hour, after being adjusted for inflation, stands 7 percent below where the minimum wage stood a decade ago.
"CEO pay, over that same decade, has increased by roughly 45 percent," the study found.

On average, CEOs at major American corporations saw $1.3 million in pension gains last year. By contrast, 58.5 percent of American households led by a 45- to 54-year old even had a retirement account in 2004, the most recent year these figures were available.

According to the report, between 2001 and 2004, retirement accounts of these average households gained only $3,775 in value a year.

The top 386 CEOs in the study took in perks, such as housing allowances and travel benefits, worth on average $438,342 in 2006. It would take a minimum wage worker 36 years to earn the equivalent of what CEOs averaged in just perks alone.

The 20 highest-paid individuals at publicly traded corporations last year took home, on average, $36.4 million. That's 38 times more than the 20 highest-paid leaders in the non-profit sector and 204 times more than the 20 highest-paid generals in the U.S. military.

American executives significantly out-earn their European counterparts, the study found. In 2006, the 20 highest-paid European managers made an average of $12.5 million, a third as much as the 20 highest-paid U.S. executives took home last year.

[zoog]

Re: America the Beautiful. Hank hits a homerun or 198.

http://news.yahoo.com/s/nm/20070829/...LNsdFrg8xkM3wV

CEO pay and benefits on the rise: report 08/29/07

Add to that, this bit on Minyanville:

The top private-equity and hedge fund managers made more in 10 minutes last year than the average U.S. worker made the entire year.

The 20 highest-paid fund managers made an average of $657.5 million, or 22,255 times the U.S. average annual salary of $29,500, a study released today said.

[Jim Nickerson]

Re: America the Beautiful. Hank hits a homerun or 198.

Add to that, this bit on Minyanville:

That's why some call it "America the Beautiful."

[Jim Nickerson]

Re: America the Beautiful. Hank hits a homerun or 198.

Here's the link to the reference Zoog put up

http://www.bloomberg.com/apps/news?p...utMDM&refer=us

Top Fund Managers Made 22,300 Times Average Wage, Study Says

By Ian Katz
Aug. 29 (Bloomberg) -- Top private-equity and hedge fund managers made more in 10 minutes than average-paid U.S. workers earned all of last year, according to a new study from two research groups.

The 20 highest-paid fund managers made an average of $657.5 million, or 22,255 times the U.S. average annual salary of $29,500, said the study, released today by Institute for Policy Studies and United for a Fair Economy. The study cited data from the U.S. Labor Department and Forbes magazine.

``The fact that these pay levels for fund managers are so out-of-sight is going to drive up pay at publicly traded companies,'' said Sarah Anderson, director of the global economy program at the Washington-based Institute for Policy Studies and a co-author of the study. ``There are people out there with a straight face claiming that public company executives are underpaid.''

The private equity boom in the past year has pushed the pay ceiling for fund managers ``further into the economic stratosphere,'' the study said.
Chief executive officers at large U.S. corporations averaged $10.8 million in pay last year, the study said, citing an Associated Press survey. Their weekly pay of $207,700 was about seven times the average worker's annual salary.

10-Minutes' Work

The study's authors said top hedge-fund managers are making more in a fraction of an hour than a typical worker makes in a year. The hedge-fund chiefs average $12.6 million a week, or $210,700 an hour based on a 60-hour week. That's $35,100 every 10 minutes, compared with $29,500 a year for the average worker.

The Institute for Policy Studies is a liberal non-profit research group that promotes alternatives to the ``corporate- driven approach to globalization.'' United for a Fair Economy, based in Boston, ``raises awareness that concentrated wealth and power undermine the economy'' and corrupts democracy, according to its Web site.

In 2006, the 20 highest-paid fund managers also made 3,315 times the average pay for the top 20 officials in the U.S. government's executive branch, including the president, the study said.

Hedge-fund compensation is ``fee-based and directly attributable to a firm's assets under management and performance,'' John G. Gaine, president of the Managed Funds Association, the Washington-based lobbying group for hedge funds, said in an e-mailed statement.

Hedge funds are mostly private and unregulated pools of capital where managers can buy or sell any assets, participating substantially in the profits of the money invested.

[c1ue]

Re: America the Beautiful. Hank hits a homerun or 198.

The power of OPM - other people's money.

It shouldn't be that surprising: heads I win (20% of profit), tails I win less (2% of money managed).

Check out Buffet's Gotrocks examples in his last 3 years of annual Berkshire annual reports:

http://www.berkshirehathaway.com/reports.html