A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors

 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
 Part 2 : America in the Twentieth Century  Encyclopedia of American Wealth

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  Part III-Chapter 18 : Hail to the CEOs  >   Index and Introduction  :    « Previous  1 2 - 3 - 4 - 5 Next »

Hail to the CEOs 

Introduction  (5 pages free)

Billionaire CEOs  (10 pages)
       Table 1 : Billionaire CEOs
Centimillionaire income CEOs  (9 pages)
       Table 2 : Centimillionaire income CEOs
       Table 3 : CEOs with centimillion dollar exit packages  (2 pages)    
Of good and bad CEOs  (8 pages + 3 tables)
       Table 4 : Top 10 Best CEOs
       Table 5 : Top 10 Worst CEOs
       Table 6 : Scoundrel CEOs
Enron : Climax of executive greed and deception  (12 pages)
Why CEOs are overpaid  (8 pages)

From the Encyclopedia of American Wealth :
       Thematic list : The richest American CEOs (2008)



As these lines are written we have been through the deepest recession in America’s history since the 1930s for a year. Triggered by the failure of sub-prime mortgage loans, the present crisis is generally blamed on the insatiateness of American consumers, a poor savings rate, the prevalence of greed over morality among top managers and the excesses of financial engineers, whose creative use of uncontrolled derivatives amplified the risks, instead of mitigating them.

The evolution of the American financial sector during the last 25 years and the creation of huge personal accumulations by investment bankers, fund managers and corporate raiders, will be treated in an extra chapter (19) to come. But the role of the greedy top executives of America’s largest corporations and their princely remunerations is subject of this one.

Indeed, the stellar rise of top executive compensation and notably the regal treatments of the CEOs, is a most controversial subject in light of the worldwide economic crisis and the apparent decay of corporate morality we are witnessing now.
As detailed in our thematic list, 140 CEOs of American corporations of the present or recent past have accumulated fortunes of $100 million or more, sometimes much more. (Table 1 : Billionaire CEOs).

Thanks to extraordinarily generous stock option schemes and soaring stock prices, quite a number of US CEOs have seen their personal incomes reach $100 million or more in peak years, a level which puts them on equal footing with America’s wealthiest capitalists. (Table 2 : Centimillionaire income CEOs)

In some cases, centimillion (or otherwise excessive) incomes eludes CEOs until they leave the company, usually after a number of disappointing years for the shareholders and frequently as a result of a merger. Thanks to golden parachutes and deferred compensation schemes, such “fired” CEOs often walk away with end of service and severance packages of $100 million and more. In one controversial case, end-of-service compensation even exceeded one billion dollars.
(Table 3 : CEOs with centimillion severance packages). 

Hail to the CEOs  >   Index and Introduction  :  « Previous  1 2 - 3 - 4 - 5 Next »

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