American Express paid CEO $27.3 million in 2008

[Zenlitened]

Source: MarketWatch.com

NEW YORK -- Financial-services firm American Express Co. said Monday that it paid Chief Executive Ken Chenault $27.3 million in 2008.

The compensation package included a base salary of $1.25 million and no cash bonus. Chenault also received $10.2 million of stock awards and $$7.9 million of stock-option awards.

In a filing with the Securities and Exchange Commission, American Express also disclosed that it paid Chenault $6.1 million in nonequity incentive pay, $640,711 for change in pension value and $1.2 million in "other compensation."

Other compensation included perquisites totaling $874,047, which included $134,2999 in "local travel benefits" and $414,702 for personal-aircraft use.

Read more: http://www.marketwatch.com/news/story/American-Express-paid-CEO-273/story.aspx?guid={1E90E25F-DE7C-46DD-AC74-BB16EFE7AAC4}

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And who can forget this little gem from back in December...

American Express Will Get $3.39 Billion in TARP Funds

(Bloomberg) -- American Express Co., the credit- card company that’s converting into a bank, will get $3.39 billion of fresh capital from the U.S. rescue fund to ensure its survival as the recession heads into a second year.

Link:
http://www.bloomberg.com/apps/news?pid=20601087&sid=afjV5RFxHw1s&refer=home

[kimmerspixelated]

1. What's wrong with this picture???

PLENTY!!!!!!!!!!!:mad:

[Rashel]

2. "perquisites" - they're so creative!

[OwnedByFerrets]

3. Most people I know wouldnt know what the hell to do with

Two Million Dollars a MONTH!! No one deserves this amount of compensation for a job. NO ONE.

[winyanstaz]

4. Any company that can afford to do this, deserves NO bailout

This is ridiculous. American taxpayers that are plunged into debt that they did not create in order to bail out companies that can afford to pay millions in compensations and bonuses and that can dang well afford to bail out their own asses deserve some help here.
Any company that paid out huge bonuses to their CEO's after crying out for help when they could afford to pay these kind of salaries and bonuses and did not put the money back into their infrastructure need to be prosecuted for fraud and they need to go to jail NOW.
They also need to be investigated for trying to defraud the American taxpayers out of their hard earned money in a desperate attempt to save their way too fat asses.
If I sound angry it is because I am furious at the debts placed on my family and friends and fellow Americans, on our children, our grandchildren and our born and yet unborn great grandchildren to pay off this giant rip-off and fraud.
I call bullshit!