IBM CEO's pay hit $21.2 million in 2009

[ChromeFoundry]

Source: ComputerWorld

March 8, 2010 09:46 PM ET

Network World - Sam Palmisano, chairman and CEO of IBM, was awarded a compensation package valued at $21.2 million in 2009, according to documents filed today with the U.S. Securities and Exchange Commission.

His total compensation rose slightly compared to 2008, when his pay package was valued at $21 million.

CEO payday: How much tech chiefs made in '08

Palmisano’s 2009 salary was $1.8 million, which is unchanged from 2008. He earned a $4.75 million performance-based cash bonus, down 14% from $5.5 million in 2008.

The bulk of his pay package came in the form of performance-based stock awards, which were valued at $13.5 million at the time they were granted (up 11% from $12.2 million in 2008).

Palmisano also received $1.1 million in perks and other compensation. His perks included personal travel on company aircraft of $320,065; use of company autos; financial planning; personal security; and other personal expenses.



Read more: http://www.computerworld.com/s/article/9167698/IBM_CEO_s_pay_hit_21.2_million_in_2009

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Yet, layoffs continue at IBM in the US.

[Turbineguy]

1. How will he manage

on such a paltry sum? I mean, one is expected to keep up a certain standard of living.

[OhioChick]

2. Outsources scores of US jobs overseas...yet makes $21.2 million in 2009?

WTF is wrong with this picture?

Oh...almost forgot...also begs Obama for a bailout. Disgusting.

IBM CEO begs Obama for bailout

http://valleywag.gawker.com/5078804/ibm-ceo-begs-obama-for-bailout

[sinkingfeeling]

3. You should see his retirement plan. IBM reduced my retirement benefit by $600 a month

back in 1999, exactly 4 years from my retirement date.

[xultar]

4. They laid off 10,000 employees in 2009 and will lay off 2,000 this year...PLUS

they offered their us employees jobs in India @ Indian wages and refused to pay relocation.

The fuckers.

[avaistheone1]

5. Disgusting and indefensible.

[OhioChick]

6. Hope you don't mind....I'm going to post this in GD. n/t

[bulloney]

7. I thought free markets and capitalism reward good performances and punish bad performances.

Any time someone plays the "socialist" card, I bring up crap like this to their faces. Most of these morons who decry socialism don't know what it is or how much it is a part of their lives.

One dolt I argued with recently was trying to tell me that the middle class has benefited and grown in the past 30 years, thanks to trickle-down economics. She admits being a Limbaugh fan.

I think I've flushed stuff down the toilet with more brains than that bimbo.

[ShortnFiery]

8. The IBM CEO and his ilk have MORE SAY about what our Nation does than President Obama.

They OWN us, i.e., large multi-national corporations. :puke: