Massey CEO's Pay Soared As Mine Concerns Grew

[kpete]

Source: NPR

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.

Read more: http://www.npr.org/templates/story/story.php?storyId=126072828&ps=cprs

[depakid]

1. This guy needs to be deep inside a prison cell for the next decade or two

and there's little doubt that if the DOJ and IRS looked hard enough- or even looked at all, there'd be more than enough evidence to send he and his cohorts there....

[paparush]

3. I suggest he spend a considerable amount of his foreseeable future down one of his

abandoned mine shafts.

[depakid]

5. Lompoc would be just fine

And if we actually had a Justice Department willing to uphold the rule of law, that's whee people like Blankenship would be.

[denverbill]

2. Shits like this see the incomes go up 10,15,30, or 50% per year and whine about a 5% tax increase.

A 70% top marginal rate would make it a bit less tempting to screw safety improvements to enrich yourself.

[No Elephants]

4. Blood money.

[OhioChick]

6. Yes, literally n/t

[Omaha Steve]

7. I agree

K&R!

[ShockediSay]

8. So what do the corporatists take?

Whatever they can get away with!!!