JPMorgan CEO gets 35% pay raise to $27M amid cutbacks

[IDemo]

Source: USA Today

NEW YORK --Even as Wall Street braces for more cuts to jobs and bonuses, JPMorgan Chase CEO Jamie Dimon was paid $27 million in 2015, up from $20 million the year before, the company said Thursday.

The pay raise comes after JPMorgan announced record annual profits last week, thanks to cost-cutting that helped to offset stagnating revenue growth.

JPMorgan's board paid Dimon a $1.5 million salary, a $5 million cash bonus and $20.5 million in performance-based stock grants, the company said in a regulatory filing.

Last year, Dimon was paid a $7.4 million cash bonus and $11.1 million in stock awards. His $1.5 million salary has remained unchanged.

Read more: http://www.usatoday.com/story/money/2016/01/21/jpmorgan-ceo-gets-pay-raise-35-27m/79132018/

[SoapBox]

1. Argh....that fucking Jamie Dimon.

He belongs in handcuffs and an orange jumpsuit for crimes against Humanity.

[wordpix]

19. Allegedly a dem fwiw...asshats like this give our party a bad name

i wonder what tax haven he's hiding it in

[840high]

2. Sh*t - how nice.

[Proserpina]

3. And he deserves every penny of it--to pay his back taxes and reparations

My level of rage is out of control today....

[wordpix]

20. Let's hear Hillary and Bernie debate this!

[Proserpina]

22. She daren't go there, and he's too old-school polite to call her what she is.

[mountain grammy]

4. Sick just fucking sick.

[Stuart G]

17. + 1

[TrollBuster9090]

5. A $7.4 million BONUS.

$7.4 million cash bonus, and $11.1 stock award. Wouldn't it be nice to have one of those jobs where your BONUS' are TWELVE TIMES LARGER than your actually SALARY? For most people who are in a position to earn performance bonus', it usually means working 60 hours per week instead of 40, and getting an extra $500/month.

Gotta love corporate welfare.

[Igel]

18. Part of that is driven by the tax code.

There are nasty surtaxes on salaries over a certain amount.

This drives money from salaries to bonuses.

There are more taxes for cash payouts. This drives compensation towards stock options.

Both were the result of federal attempts to use the tax code to stop CEO compensation increases. People tend to find ways around regulations and rules intended to restrict their behavior.

It works for non-CEO compensation, too. For much of the last 20 years wages have remained flat. This is news. But compensation for a lot of jobs has increased because pre-tax/non-wage compensation has increased. So at my job I get paid a salary, but every year my compensation goes up even faster because my employer covers increased health insurance costs. (They could pay me the additional money so I could pay the insurance premium increases, but I'd be taxed on that additional pay amount. The result of this quirk in the tax code was to drive money into better health insurance plans, which then were castigated as "cadillac" plans.)

[wordpix]

21. I wonder if dimon wrote the code

Just like the oil and gas drillers wrote the MMS code before the BP blowout

[Deny and Shred]

6. USA ! USA !

Hooray for the cream of the crop that America has to offer! Suck it, peons, you had your chance to be rich, but didn't play the game as well. Don't cry. You had every bit as much a chance, but blew it due to your own choices. Your Fault!

Who wants to begrudge the guy from making money? That's all he's doing, right? Who is the card-carrying communist who disagrees with a run o' the mill capitalist eking out a living?

If the party was smart, they'd have cozy'd up to these humanitarians years ago. T'would make the world such a better place if We The People would just stop criticizing and kowtow to their brilliance.

[Plucketeer]

7. This is DISGUSTING in and of itself

but then they have the shit-in-your-face audacity to tell the $7.25 an hour folks about it. While I don't believe in an after-life, I'd like to know that if there actually IS such a dimension that the likes of Dimon spend it burning on a stake, but never dying from it.

[Divernan]

8. Bill wags his finger at us (& I shudder at where that finger has been).

Clinton is one a cadre of politicians and world leaders that Dimon, a registered Democrat, has befriended over the years. The list of political confidants, which includes former British Prime Minister Tony Blair and Chicago mayoral candidate and former investment banker Rahm Emanuel, has given Dimon high-level access to top policy makers over the years.

In fact, on the day Clinton took time to talk to Reuters, he was preparing to head to Washington to meet his wife, Secretary of State Hillary Clinton, for the White House state dinner with Chinese President Hu Jintao. Also invited by President Barack Obama to the event were Dimon and his wife Judy.

Clinton said it's important for politicians not to ostracize bankers and to seek the counsel of people like Dimon. But he also said Wall Street financiers have an obligation not to repeat the excesses that led to the financial crisis.[/div] (2011)
http://www.reuters.com/article/us-jpmorgan-dimon-clinton-idUSTRE7133CS20110204

Golly Bill, is a 35% raise amid cutbacks just a TAD excessive?

[hatrack]

15. Ooooh, that's gonna sting - way to go, Bill!

[Uncle Joe]

9. Kicked and recommended.

Thanks for the thread, IDemo.

[lsewpershad]

10. Bernie

Enough said.

[passiveporcupine]

11. Now I"m not disagreeing with the sentiments here but

I have to ask, how many of you feel the same way about movie stars, tV personalities (say Oprah), Big League sports stars, Music stars.

Is it OK for them to make as much money as they do, compared to all the other talent out there that works just as hard but doesn't make it to the top? Especially when they are all working on the same project. Like even the janitor of the studio, they deserve a decent share of the profits of a big hit, don't they? It's a collaborative effort. It can't be done without each person involved in some way.

Here are the 2015 incomes of the top two actresses and actors

Jennifer Lawrence: $52,000,000
Scarlett Johansson: $35,500,000

And the top two men

Robert Downey Jr.: $80 million
Jackie Chan: $50 million

You see, most people think it's OK to earn this much just because you are popular. They are not necessarily the most talented, but they are the most popular, so their movies bring in the bucks and they get the big bucks.

I don't think anyone should be making wages like this. I don't care how much money you bring to the movie companies, because those movies would not be made without all the other actors, all the staff working on the movie, etc. And they get peanuts compared to these big names. And that's not fair. If a movie brings in lots of money, it should be a collaborative (socialist) effort and everyone shares in the wealth (I don't mean equally, but more justly). But that's not the way it works...not in sports, not in music, not is film, and not on TV. Not in politics, and not in business.

We need to fight for equality for everyone, no matter where they work, or what their job is.

[Capt.Rocky300]

13. Not me.......

NO ONE should earn that much money. It's obscene. Especially when you consider all the First Responders who actually put their lives and their families' financial security (should they be killed) on the line nearly everyday get relative peanuts.

[wordpix]

25. +1000

[Capt.Rocky300]

27. I should have used the term, "paid" .......

earning is a whole different thing.

[DarthDem]

14. The Key Difference . . .

. . . is that people pay to see Jennifer Lawrence and Scarlett Johansson perform, as they do to see pro athletes perform. No one, as far as I'm aware, pays to see Jamie Dimon do his "work."

[hatrack]

16. Jennifer Lawrence doesn't lay thousands of people off and then get paid a bonus

She gets paid by already rich producers and executives rolling the dice so they can get even richer.

Dimon does lay off thousands, and then gets "performance" bonuses. Apples and oranges.

[Proserpina]

23. Nobody ever accused Jamie Dimon of being "popular"!

He would be flattered, if he knew.

[FiveGoodMen]

28. Progressive taxation would cover all of them

Put the 90% bracket back.

[Peace Patriot]

29. Yes!

[turbinetree]

12. And this hypocrite...........................

went to our fed treasury window and got tranches with the other criminals for 80 billion a quarter at .01% since 2009 and until the fed raised the rate to .25%, and at the same time, lent credit card rates and home mortgage rates ( credit cards 9-27% , homes at 2.75% - to 11%) to the citizens of this country through outlets usury laws in South Dakota on the creedit cards, because of the scams, that were written by these same crooks through the State of Delaware corporation business friendly state.


I know that I did this earlier but this is what Dimon and others of his ilk did---------------with no accountability and then he whines, and he doesn't have to pay any taxes on the stock options, until exercises and then its at a paltry 10% or lower depending on how he finagles the tax system

So Dimon go when Sanders gets elected ---------------------------- hide, leave the country and hide, because the public wants you in jail along with others



Honk----------------------for a political revolution Bernie 2016

[Politicub]

24. It's Bernie Sanders' fault

Because I said it is. So therefore I am right.