Executives ride high on boom in energy (pay up 28% this year)

[elehhhhna]

Aug. 6, 2006, 12:39AM
Executives ride high on boom in energy


By TOM FOWLER
Copyright 2006 Houston Chronicle

The energy boom rang loud and clear through corporate suites in Houston last year where total pay grew 28 percent for the 100 top-paid executives at publicly traded companies.

The average pay package for the top executives in this energy-centric city was $6.9 million in 2005 versus $5.4 million in 2004, including salary, bonus and long-term incentives like stock options, according to data compiled for the Chronicle by Longnecker & Associates.

The increase was fueled in large part by a 68 percent jump in the value of stock option grants and a 23 percent increase in bonuses.

http://www.chron.com/disp/story.mpl/front/4096335.html


By TOM FOWLER
Copyright 2006 Houston Chronicle

The energy boom rang loud and clear through corporate suites in Houston last year where total pay grew 28 percent for the 100 top-paid executives at publicly traded companies.

The average pay package for the top executives in this energy-centric city was $6.9 million in 2005 versus $5.4 million in 2004, including salary, bonus and long-term incentives like stock options, according to data compiled for the Chronicle by Longnecker & Associates.

The increase was fueled in large part by a 68 percent jump in the value of stock option grants and a 23 percent increase in bonuses.

[Deja Q]

1. There's no peak oil. Only no-peak fleecing.

[acmavm]

2. Corporate executives: People who love the use the current economic

troubles to rake in more money for themselves. The lowest kinds of opportunists.

[HysteryDiagnosis]

3. That's over 3000 dollars per hour... not bad work if you can

justify it.

[Canuckistanian]

4. And they don't need to ask Congress for a raise

But Congress STILL gives them raises (tax breaks, subsidies, etc.)

[Sherman A1]

5. Now, now

The do have to kick back some in the form of campaign contributions, political dinners, golf outings (probably charged to the company) and such. Let's not be toooooo hard on them! Well, on second thought maybe just a little.......

[Canuckistanian]

15. Oh yes, almost forgot about that

Not.

[stevedeshazer]

6. So, even in Houston, there's no price to pay for the Enron debacle?

Grandma Millie lives. :grr:

[spotbird]

7. Not too long ago

I was at the home of one of the guys in the top ten for a charitable fundraiser he hosted. Tickets were $100 and up. The wine served was so offensively cheap that I looked at it, looked at him, and requested water. He then opened a good wine. I guess he had to eat beans and stale bread for the rest of the week to catch up.

[elehhhhna]

8. 9 years ago an Acquant. of mine was halfway up that list

of top paid execs in Houston at 400K/yr. She makes much more now but isn't anywhere NEAR getting on that list...the CEO wages have more than tripled.

[DallasNE]

9. 28% For CEO's and 2.8% For Hourly Workers

Not much trickle down there.

Locally, our newpaper headlined a minimum wage worker blaming Democrats for her not getting a wage increase. The paper also quoted her as saying she didn't care how much more money the wealthy would have received.

Frankly, this poor uninformed woman doesn't seem to realize that her employer, probably WalMart, can increase her wages without government action. Second, this woman probably does not realize that any State payments she might be receiving would be decreased by the amount of her pay increase. Lastly, she is unconcerned that there was no provision in the legislation to pay for the huge tax break for only the super wealthy, meaning more government deficits saddled on the backs of every American.

[bvar22]

12. The answer to that attack:

The Republicans CONTROL Congress, The Senate, The White House, and the Supreme Court...EVERYTHING!

ONLY the Republicans CAN raise the Minimum Wage. If the Republicans didn't raise the minimum wage in the last 10 years, its because the Republicans DON'T WANT to raise the Minimum Wage.

If YOU want to raise the Minimum Wage, vote for the Democrats in November.

REMEMBER, Right Now, the Republicans CONTROL Congress. The Republicans didn't raise the Minimum Wage!

[B Calm]

13. The working class are valuable labor who are working for

not so valuable wages...

[jpkenny]

10. this is what is so sickening about corprate rule in America.

the wealth is always amassed on the backs of the poor.

[B Calm]

11. The rich are rich only to the detrement of the working class! Screw

all corporate managment sociopaths, I hate them all!

[madrchsod]

14. i made 400 dollars in my 401k the last 2 quarters

that`s close to 50% gain in my account to bad i had to cash out

[Horse with no Name]

16. Somebody explain to me how this doesn't meet the criteria

for price gouging?