GE CEO Immelt receives $4 million bonus, $21.4 million total compensation

[somone]

http://www.bloomberg.com/news/2011-03-14/immelt-takes-4-million-bonus-first-since-financial-crisis-1-.html

General Electric Co. (GE) awarded Chief Executive Officer Jeffrey Immelt a $4 million bonus, the first he has accepted since the financial crisis, after consistent quarterly profit growth and two dividend increases in 2010. Immelt received a bonus of $5.8 million in 2007... Last year, GE profit climbed and the shares topped the S&P 500 for the first time since 2004. The company unlocked a war chest of cash to restart share buybacks, boost its dividend a total 40 percent and make more than $8 billion in acquisitions.

“This performance is a direct result of actions taken by Mr. Immelt and the GE leadership team over the last few years,” the management and compensation committee of the board wrote in a proxy statement filed today with the U.S. Securities and Exchange Commission.

Immelt, who works without a contract, received a 2010 salary of $3.3 million, unchanged since 2005, the Fairfield, Connecticut-based company said in the proxy statement. Total compensation under SEC rules, including a grant of 2 million options and a $6.2 million increase in pension value, was $21.4 million.

“Being a CEO can be pretty humbling,” Immelt, 55, wrote in the company’s annual letter to shareholders, released yesterday...

[DJ13]

1. Pocket Change We Can Believe In

:puke:

[sixmile]

2. Careful

There's a GE apologist trolling the boards tonight.

[DJ13]

4. Thanks

I love GE.

Oh, who am I kidding?

LOL

[Angry Dragon]

3. How many jobs did his company create??

edit: word change

[rurallib]

5. Where? In the US or China etc.?