Here’s a little something to keep in mind when the caterwauling about Teh 1% gets too shrill.
Wall Street chief executive officer[s total compensation in 2011]:
Jamie Dimon at JPMorgan Chase & Co. (JPM) — $23 million [Profit - 18.976 billion (2011)]
John Stumpf of Wells Fargo & Co. (WFC) — $17.9 million [Profit - 15.869 billion (2011)]
Lloyd Blankfein at Goldman Sachs Group Inc. (GS) — $16.2 million [Profit - 4.442 billion (2011)]
Vikram Pandit at Citigroup Inc. (C) — $14.9 million [Profit - 11.067 billion (2011)]
James Gorman at Morgan Stanley (MS) — $10.5 million,
Brian Moynihan at Bank of America Corp. — $8.1 million.
Yep. That’s a pile of dough, eh?
Keeping in mind that JPMorgan made 4 [B]billion in the first two quarters of this year, Dimon’s salary is 0.00575 of that.
So what’s up with this?
Les Moonves, the CEO of CBS Corp. (CBS) — $69.9 million [Profit - 1.305 billion (2011)]
David Zaslav of Discovery Communications Inc. (DISCA) — $52.4 million [profit - US$ 669 million (2010)]
Philippe Dauman at Viacom Inc. (VIA) — $43 million [Profit - 2.136 billion (2011)]
Walt Disney Co. (DIS)’s Robert Iger — $31 million [Profit - 4.807 billion (2011)]
Jeff Bewkes, at Time Warner Inc. (TWX) — $26 million
Brian Roberts of Comcast Corp. (CMCSA)– $27 million
Now, I’m perfectly ok with the free market setting salaries and recognize that being CEO of a ginormous corporation and making it pay is rather a specialized talent. But to see some of these outfits prattling on about the eeevil 1% …*ptui*
Maybe next time the black-clad anarco-socialists will gather on Les Moonves’ lawn, eh?