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(Dems force) House panel to hold hearing on CEO pay on May 25

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 01:58 PM
Original message
(Dems force) House panel to hold hearing on CEO pay on May 25
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BA02D6624%2DAD46%2D48BE%2DAE8B%2DEF8878351EA4%7D&dist=newsfinder&siteid=google

WASHINGTON (MarketWatch) -- Prompted by its Democratic members, the House Financial Services Committee will hold a hearing about executive compensation on May 25, the committee's top Democrat said Friday. Rep. Barney Frank, D-Mass., and other Democrats used congressional rules to force the hearing. Frank and others had requested a panel about executive pay at a prior committee hearing but the request was denied. The Securities and Exchange Commission has proposed requiring greater disclosure of CEO pay. Frank introduced a bill with similar aims last year.

...short blurb...

are they talking about Lee Raymond's $468 Million?? :eyes:

$144,573 a day for Lee Raymond, CEO of Exxon

One man who’s not worried about retirement is Lee R. Raymond. Lee R. is the CEO of Exxon and a man who, according to the New York Times, has a compensation package that works out to $144,573 a day. That’s a lot of money for someone who has never slam dunked a basketball or shared a scene with Angelina Jolie. Instead, Lee R. ran a company that sold gas and oil to, well, everyone.

Still, retirement is not a sure thing, even for rich people. Usually. But Lee R. has a surer thing than most rich people because Exxon shareholders granted him a generous pension. Still, pension plans are rife with uncertainty, so even pension promises to a CEO are not a sure thing. Unless you are Lee R. That’s because he has already received his pension plan in the form of the lump sum of $98.4 million. This has greatly reduced the uncertainty surrounding Lee R.’s retirement, even though he is still working. Of course, very few things in life are completely, 100% certain, particularly when it comes to financial planning. For example, Exxon could very well decide to give him more money.
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redqueen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 02:00 PM
Response to Original message
1. Love it.
Had to use a rule to force the hearing.

And after all that bipartisan BS Clinton put us through.
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MikeNearMcChord Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 02:29 PM
Response to Original message
2. Let's do it!
It's about time this issue came out. Let the repugs defend this!
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creeksneakers2 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 04:58 PM
Response to Original message
3. Republicans preach about capitalism
but sneak around when it comes to them. I don't believe shareholders like these big salaries, and shareholders ought to have the final say.
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JerseygirlCT Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 05:14 PM
Response to Original message
4. Disclosure is the key
I don't think we need to regulate CEO pay - but I think absolute openess -- full disclosure, not just salary but benes, and especially options and other side deals, need to be disclosed.

I would hope that there would be some greater pressure on CEOs to limit their greed... Am I a cock-eyed optimist?
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wicket Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 05:25 PM
Response to Original message
5. Lee R. Raymond, or as Bill Maher calls him: "FAT BASTARD"

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WhiteTara Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-12-06 09:42 PM
Response to Reply #5
6. the embodiement of Jabba the Hutt


Position Crime lord
Homeworld Nal Hutta; resident of Tatooine
Species Hutt
Gender Hermaphrodite<1> (male personality)
Height 3.9 meters long (approx. 13 feet)
Affiliation Criminal
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wicket Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-13-06 12:39 PM
Response to Reply #6
7. LOL
:rofl:
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