A honey well?

[dieseltaylor]

AP calculates Mr Cote got compensation of $30.8million in 2008 - not bad going but one cannot but feel he may well have done the job for $2million.

But being both CEO and Chairman does give a lot of clout even if most recommendations are that CEO and Chairman are separate functions and should be held by different people.

http://www.google.com/hostednews/ap/article/ALeqM5gjBctJrSOUEqs9RES0Na-TMMI6fgD96SNA1O1

[costard]

And if he wouldn't do the job for $2 million, too bad; he shouldn't take the job. A bit like me asking for a three hundred percent raise at my job interview - there's no way it's going to happen. But somehow these CEO types managed to convince the rest of us that were worth the money...

The other argument I'm enjoying at the moment is the one about our kids paying for our governments running up huge debts (in order to prevent a financial catastrophe, a point which is always left out of the argument): the debts were incurred by the financial types who were earning huge salaries by implementing strategies that took short term gains in the full knowledge of the long term costs. For them to turn around now and say they had nothing to do with it is just an indication of their true worth - fertilizer grade human beings.

[gunnergoz]

Whatever else may be the cause for this trend, it is clear that not many companies see their employees as being any component of success and thus not worth rewarding to the degree they reward the CEO's.

[Wilhammer]

I am almost surprised that we don't have folks hunting down a killing these Chief Extortion Offenders - most of them do deserve being shot.

[dieseltaylor]

I always thought a multiplier of the lowest paid workers wages employed by the company is good limitation - but the theory falls over with the two man firm : (

[Michael Emrys]

I am almost surprised that we don't have folks hunting down a killing these Chief Extortion Offenders - most of them do deserve being shot.

Shot is too merciful. With the amount of greedy cynicism they exhibit, they should be hanged by their own entrails. Publicly.

Michael

[gunnergoz]

Whatever else you can say about these CEO's, they sure have big brass ones while the sheep in Washington try to cast about for a pair between them.

[dieseltaylor]

I do wonder if the wage inflation is a function of looking at sporting heroes and pop and film stars and seeing the obscene amounts they can get - without any apparent backlash. Running a major corporation would seem to be more arduous so should be well paid.

I would take a view that there are probably 10000 people who could do Mr Cots job as well and for less money. One could argue that athletes and pop stars are unique - but honestly if they did not exist would someone else be filling the role and being lauded by the media. You betcha there would. The media circus exists to give us little gods to worship and for women to endlessly gossip over. Given it will happen anyway why not do it more cheaply!

[Lars]

AP calculates Mr Cote got compensation of $30.8million in 2008 - not bad going but one cannot but feel he may well have done the job for $2million.

But being both CEO and Chairman does give a lot of clout even if most recommendations are that CEO and Chairman are separate functions and should be held by different people.

http://www.google.com/hostednews/ap/article/ALeqM5gjBctJrSOUEqs9RES0Na-TMMI6fgD96SNA1O1

Well,

Last year, the company posted net income of $2.79 billion, or $3.76 per share, compared with $2.44 billion, or $3.16 per share, in 2007. Revenue climbed to $36.56 billion from $34.59 billion.

He did figure out a way to make them an extra $2 billion in revenue last year.

Probably why that performance bonus kicked in, eh? Heck, if he were to keep making me that kind of money, I'd get him the private jet too.

[dieseltaylor]

I love your belief that Mr Cote was personally responsible for the extra $2billion rise. I have been monitoring Honeywell for the past few years and there has been nothing to suggest that any of the Honeywell divisions could not have performed aswell if Mr Cote was not CEO.

In fact if you wish to look at the figures you may wonder if Honeywell's continual purchase of successful companies forms a basis of the CEO's and Honeywells increased income. Sell parts but buy better parts and succeed. Not a terribly difficult strategy.

Edit. ITW or Illinois Tool Works is a similar sort of beast, admittedly only 17billion$ sales in a good year, see how there guy gets paid:

http://www.forbes.com/lists/2008/12/lead_bestbosses08_David-B-Speer_OP9X.html

Unfortunately again a CEO and Chairman jointly held by Mr Speer

[Lars]

You've been monitoring it, eh?

Hell, I can go drive down the road and look at it. Wife used to work there, matter of fact, along with quite a few other people I know.

They're rather big in this town. Moved the corporate headquarters due to the state's screwed up tax policies though. Can't blame them for that.