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Massey CEO's Pay Soared ($17.8M last year) As Mine Concerns Grew

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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-19-10 08:07 AM
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Massey CEO's Pay Soared ($17.8M last year) As Mine Concerns Grew

Massey CEO's Pay Soared As Mine Concerns Grew

by Howard Berkes

April 17, 2010


Massey Energy CEO Don Blankenship was paid $17.8 million last year even as some of the coal mines he supervised accumulated safety violations and injuries at rates that greatly exceed national rates.

That 2009 pay represents a $6.8 million raise over 2008 and almost double his compensation package in 2007.

Blankenship also has a deferred compensation package valued at $27.2 million at the end of last year.

The financial data is contained in Massey's 2010 proxy statement, which was filed with the Securities and Exchange Commission in advance of the company's May 18 annual stockholders meeting in Richmond, Va.

more...

http://www.npr.org/templates/story/story.php?storyId=126072828&sc=17&f=1001
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mod mom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-19-10 08:10 AM
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1. Capitalism at it's worse.
I heard on NPR that while the foreman were liable for possible prosecution the CEO was protected. This really pisses me off.
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mod mom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-19-10 08:10 AM
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2. oops dupe
Edited on Mon Apr-19-10 08:10 AM by mod mom
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