10 outrageously lavish CEO perks

CEOs at Fortune 100 companies get nearly 5 times the money in extras -- including cars and drivers, jets and gyms -- that the typical US household earns in pay.

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Nov 28, 2012 1:42PM
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 When I was in B-school back in the 80's we spent a lot of time talking about our stakeholders.  They were your stockholders, employees, suppliers, customers.....basically everyone your company touched.  We were taught to consider all of them in our future careers as managers.  Then at night we would have cocktails with corporate raiders and junkbond peddlers.  It was like having an angel on one shoulder and the devil on the other.

 

30 years later guess who won?  I never hear stakeholder anymore.  It's only about what's the stock going to do in the next half hour.   We went from a country with a long term perspective to one that lives for the minute.  For those of you too young to remember, junk bonds were high risk bonds that investment banks loved to sell to finance hostile takeovers.  Companies that had been well run for 100 years  were systematically bought, chopped up, outsourced, looted and left as shells of their former selves.  It was fine because it was going to keep us competitive with the rest of the world.  Bullsh-t.  We tore down our house and sold it for firewood.  Now our jobs are all overseas and we are out in the cold.

 

 As long as we only reward short term results without regard for the consequences, we are going to have these piranhas running the show.

Nov 28, 2012 10:38AM
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We don't have a royal family in the US but we do have corporate royalty.  That's really the best way to describe these guys and how they get to where they are.  CEOs and board members are all in the same club.  They sit on each others boards, they recommend each other for more lucrative gigs, they essentially take care of each other.  It is like a big royal family.  Once you are in it, you are set for life.  Sure, you might screw up and have to be disciplined once in a blue moon but you're still in the family and you will never be poor again.  The worst that will ever happen is that you get exiled to the family estate out in the country where you can grow old in luxury and not embarrass the family again.

 

I love these posts saying that these guys must be worth it or the shareholders would get rid of them.  The stockholders have no more power over these guys than I have over the President, actually less.  They only answer to their boards and the boards are beholding to them because they are all in the same club.  The only time there is pressure is when another kingdom accumulates enough stock to overthrow you.  95% of the time, ownership is too fragmented for shareholders to have much say. 

 

Also, if you notice, a lot of these perks were for security.  While costly, it is a necessary expense for these guys. You don't make a lot of friends on your way up.  You surely don't want to bump into anyone you fired, ruined, or screwed for the sake of your career advancement.  So you need a lot of security to make sure someone doesn't kick your a-- or worse. All it takes is one guy from a closed plant with nothing to lose and you are toast. 

 

These guys don't have the same sense of guilt most of us do.  Frankly they couldn't sleep at night if they did.  So taking a jet doesn't seem out of line if the people you run with have jets.  Remember, they aren't comparing themselves to you, they are comparing themselves with other kings. 

 

Now I respect the guys that start their own companies and build their own kingdoms. They earned everything they have. It's the second generation CEOs that piss me off.  They were born on third base and think they hit a triple.

Nov 27, 2012 10:25PM
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Is this a surprise to anyone?  Upper level management of virtually every business is nothing but an exclusive whose primary objective is to steal (legally or illegally) as much money as they can get their greedy little hands on. 

 

The 1% could have probably gone on indefinitely with the normal greed that they used to have, but then they started to want every last dollar in the world.  Keep it up and the French Revolution II won't be far away.

Nov 28, 2012 2:00AM
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Comcast-NBC CEO's are the worst of all!!  They continually lay off workers and yet continue to reap pay outs, bonuses, .. SHAME
Nov 28, 2012 1:59PM
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This is exactly the problem with our country, corporatism. Folks we are on a slippery slope here. We the People is a joke right now. I say give me Liberty, not Democracy, not Corporatism. Is there no one for the common MAN. I say it is time to take back what our Forefathers Envisioned for US. No wonder everything Costs so much!!!!!!! We are the workers and they are the BARONS, it is slipping away!!! Time to STRIKE, we as a nation need to STAND TOGETHER and take it back. Like this post to show that you agree. Stop the Corporate GREED PROGRAM............ can we agree on THIS?
Nov 28, 2012 2:33AM
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i saw where a pro athlete had a $99 million contract, this person does opperate a company or hire employee's, and were all ok with it right! but a person who keeps a company going that provides jobs for tens of thousands does not deserve the same considerations as a person that hits a ball with a stick. love the logic, no surprise were going down.

slayerwulfe cave

Nov 27, 2012 11:21PM
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I got as far as #6. I just can't stomach anymore!
Nov 28, 2012 12:38PM
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Is it any wonder home security shows up so much on CEO perks?  They take millions upon millions of dollars for themselves and then try to justify why the ones catching the crumbs they throw deserve even less.  The 'Good Book' speaks of the greed of men. How they keep taking & taking more, yet their stomachs are never full.  They must be thinking of the need soon to have high walls with razed wire at the top and armed guards at every corner of their castle.  It appears that some of them do have a conscience. Unfortunately their love of money has become their god in many cases, trumping anything that is reasonable.
Nov 28, 2012 6:53AM
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CEO = Criminally Excessively Over-compensated!!  These big corporations today need to be busted up like Rockefeller was back in the day!!  I couldn't possibly spend a fraction of what these idiots make in one year over my entire lifetime.  If these jerks took a huge pay cut and paid taxes like the rest of us maybe things would be better and companies would not be going broke!
Nov 28, 2012 3:00PM
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One would think that if the boards were taking their jobs seriously they would find CEOs willing to work for less.  These guys are NOT that much smarter than the average executive.  They are just better connected.  Of course when you can decide who's on the board and the board decides how much you get paid I think the problem is obvious.

 

Kind of like congress voting on their own pay increases, only much worse.

Nov 27, 2012 7:53PM
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Bezos the man who was considered a bargain on salary in your last survey is demonized for his perks in this survey. Face it, they all find ways to maximize their earnings whether its perks, equity, or salary and there isn't one of them that is ashamed enough to stop feeding from the sty. 
Nov 28, 2012 12:57PM
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Stop buying their products and you will see a change immediately. Just look at the NFL when the substitute refs created an uproar. People threatened to stay away and the change happened immediately. If you don't like it do something about it. No body listens when we complain but will if you disrupt their sales. Money talks baby.
Nov 28, 2012 1:47PM
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These greedy SOBs could care less!   Here's the question, where's the Poll for raising taxes on  people making $250,000 or more?  Let's see it!  Are they for it or against it?  One would think by now at least one political talk show would mentioned it.  If my income were in that category, I would be for it!  Let's face it, people with those incomes have a tendency to blow big amounts of cash on leisure and "toys"!   Basic necessities, like paying the electricity bill, groceries, heat, water etc.... are never a issue.  For the middle class, these are burdens for most....however necessary.  So..if a tax hike succeeds for the ones making a quarter of a million dollars or more...b-o-o h-o-o! 

Nov 28, 2012 12:18PM
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Clearly the article will sicken or should I say P---  off anyone who reads it.  

 

However, a couple of other inequalities do exist; such as the perks our own state and federal government is given. Also, take a look at the so called sports industry that we as a society support and look at the ridiculous compensation packages these guys are receiving..

 

It's all crazy and not very fair but, in reality we the people support it because we do nothing about changing it.

Nov 28, 2012 2:01PM
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This kind of thing makes a mockery of those who do the real work; factory workers, construction workers, waiters, cops, teachers, etc. None of these bloated worthless egomaniac hogs (ceos, sports players, hedge fund pigs, etc.) are indispensable, as many and themselves believe they are; when they die or retire, the world simply carries on with their passing generally unnoticed. The truth is these bums are nothing but parasites who skim their living from the real work being done. If all the workers stayed home for one month these guys would have to actually start working to support themselves for a change.
Nov 28, 2012 2:16PM
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So now we should ask ourselves why this country is in such financial trouble.  Is it really because of some guy doesn't want a job so he collects food stamps and welfare?  Is it really the retired public employee collecting 18,000 a yr pension with medical benefits.  Seriously it's not because of a free phone or food stamps.  It's because the 1% want more, more than what was shown in this article, more than they could ever spend.  And yes , we the people continue to support this behavior and so it exist but what are we to do?  We could stop buying TV. We could stop owning two, three cars or even one if possible.  We could quit using computers for personal use, throw away outr cell phones,shut down the air conditioners, basically modifying our way of life and return to the past of say 100yrs?  Is this the sacrifices we have to make to curtail CEO greed?
     Successful people should be rewarded with wealth, that's the way it is here but things have become obscene and their greed is unhealthy for our country.  At least they should pay their share in taxes.  We should return to the wealthy tax rates of the 60's.  which was around 90%  and these people still could fly their own planes, they still had company cars with drivers , they still lived lavish life styles.
     The average MLB player back in the 60's was 50,000/yr. The average US median pay wasn't even 10,000. So lets call that a 5-1 ratio.Today they average 3.5 mil with the US average median pay of around 50,000, so that's about a 99-1 ratio.  That's OBSCENE
Nov 28, 2012 12:45PM
Nov 28, 2012 11:40AM
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Executive perk's,  public pension's , irresponsible "family planning", escalating crime. One can clearly see it's only a matter of time.  Uncle Barry, can you spare a dime ?

Nov 28, 2012 4:18PM
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What some here fail to see is there is a huge difference between greed and being successful.  Many CEO's these days will cut jobs rather than cut there own multi-million dollar salary or any of their perks to save jobs.    Some claim this article is an attack on being successful or working hard.  No, you miss the whole point.  It is about being humane, civil, and humble,  knowing when enough is enough, knowing how to give back to your work force, or society.  This nation was not founded on greed people.  It is going to be the demise of this great country however.
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