IBM CEO's pay hit $21.2 million in 2009

[OhioChick]

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.

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

IBM CEO begs Obama for bailout

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

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

[ShortnFiery]

1. Yes, the CEO of IBM and his moneyed elite ilk are our Nation's OWNERS, not the Politicians.

The politicians are merely "useful idiots" who give us little people the impression that our votes have meaning. They don't. :grr:

[LakeSamish706]

2. I wonder how the poor shit survives on that small amount! n/t

[ihavenobias]

4. You read my mind. n/t

[warm regards]

3. Alex Rodriguez did better than that @ $33,000,000

[girl gone mad]

7. Rodriguez has a natural ability that's rare and can't be easily duplicated.

There are only a handful of people in the entire world who can play at his level, particularly in so many different positions. That gives him an amazing amount of leverage with owners.

All this corporate fat cat has is a cozy relationship with the BOD. His skill set is entirely fungible. Any one of a million people could do what he does, and most would probably do it better.

[warm regards]

8. Really...? How can you be so sure?

[ChromeFoundry]

5. Offshore the rest of your US employees, Sam..

next year's pay can be a nicer chunk then.

Greedy SOB

[The Gunslinger]

6. They just laid off thousands.

I guess he'll make 30 mil this year

Disgusting.

[HipChick]

9. Insider told me...that 2,000 were laid off first Quarter this year..

however IBM's usual MO is to lay off just enough people close to SEC requirements for them to not to have to file it. Of course, they offered laid off workers relocation packages to India or where jobs were being outsourced, but you would have had to take local wages...that added total insult to the laid off workers..

[HipChick]

10. IBM offers laid off workers jobs in India

comments are interesting..

http://www.itbusinessedge.com/cm/community/news/sou/blog/ibm-offers-laid-off-workers-jobs-in-india/?cs=30229

Lots of companies help employees find other jobs within the company when their old jobs are being phased out. Not every company offers to move them halfway around the world. But IBM is.

Big Blue's Project Match will help laid-off workers get jobs in India and provide visa and travel assistance to get there, reports InformationWeek. It quotes the company's internal communications saying:

IBM has established Project Match to help you locate potential job opportunities in growth markets where your skills are in demand.

The always-entertaining Inquirer has another take on it, though:

Of course IBM weighed up the pros and cons, and came to the conclusion that because India is a hot country with cheap living costs and a diverse variety of food, it wouldn’t matter so much that you get paid diddly squat. ...

If India, doesn't float your boat, IBM offers to relocate you to China, Mexico, the Czech Republic, Russia, South Africa, Nigeria, and the United Arab Emirates or any other place where labour is cheap as chips.

An IBM spokesman told InformationWeek:

It's more of a vehicle for people who want to expand their life experience by working somewhere else. A lot of people want to work in India.

[Hannah Bell]

11. might be ok if you were young & single. less so if you had a mortgage & kids in school.