Bank of America CEO gets 73 percent pay increase in 2012

[dmcowen674]

2-19-2013

http://finance.yahoo.com/news/bofas-moynihan-gets-73-percent-220242981.html?l=1

BofA's Moynihan gets 73 percent pay increase in 2012



Bank of America Corp Chief Executive Brian Moynihan's pay increased 73 percent in 2012 from the previous year to $12.1 million

Bank of America's filings disclose only the stock portion of pay for Moynihan and other top executives in 2012. More details will be provided in the annual proxy filing this spring.

 

[dmcowen674]

Rewards for stealing from Americans

 

[Jaskalas]

Rewards for stealing from Americans

The President's reward for bailouts: re-election.

When are YOU going to change the system?

 

[UglyCasanova]

Rewards for stealing from Americans

Just out of curiosity, why do you make a post and then immediately reply to your own post instead of just including the commentary in the OP? I guess it doesn't matter, but it makes no sense.

 

[dmcowen674]

The President's reward for bailouts: re-election.

When are YOU going to change the system?

I am changing the "System".

I get people that support the destruction of the country super pissed off because their hatred of the country is exposed by me.

 

[cubby1223]

So, Mr. Thread Creator, please elaborate on your claim that he is being rewarded for stealing from Americans. Your response should be something more substantive than "I hate Bank of America."

I mean, make your case. I'll listen.

 

[Lithium381]

He's turning the company around just as fast as obama is turning around the country so why shoudln't he get a 75% raise?

 

[highland145]

I haven't looked at the #s for BoA but my bank is now raping every customer after congress decided to "fix" the banking system a few years ago.

I mean, make your case. I'll listen.

Yo, chubby, this ain't the debate club.

 

[shortylickens]

Bank of America just got a bailout.
http://www.nytimes.com/2013/02/17/b...another-bank-bailout.html?smid=tw-share&_r=2&

 

[cubby1223]

I haven't looked at the #s for BoA but my bank is now raping every customer after congress decided to "fix" the banking system a few years ago.

Yo, chubby, this ain't the debate club.

I never expected him to respond.

For all I know this guy could be turning the company more honest and deserves a helluva lot more than a $12m yearly income.

 

[WackyDan]

If you are offended by his pay I suggest you target your anger at the board of directors and not the CEO. The best way to accomplish this is to become a shareholder in the company and attend the open board meetings and vote.

 

[WhipperSnapper]

Why are you evil excrement grubbing socialists so jealous of this guys' hard-earned income? I'm sure he worked very very hard and earned every little penny! He probably works 500 times harder than people earning 500 times less. He deserves all of it.

 

[Jaskalas]

I am changing the "System".

I get people that support the destruction of the country super pissed off because their hatred of the country is exposed by me.

Who are those guys destroying the country, eh?

The ones supporting bailouts and stimulus?
Or
The ones opposing bailouts and stimulus?

Cause it seems to me you just complained about the bank bailout, given how they're handling money via executive rewards. If you had any logical sense, you'd be a member of the Tea Party to oppose taxpayer money going to them.

 

[zsdersw]

Just out of curiosity, why do you make a post and then immediately reply to your own post instead of just including the commentary in the OP? I guess it doesn't matter, but it makes no sense.

The answer is simple: the OP is usually a dumbass.

 

[Matt1970]

I am changing the "System".

I get people that support the destruction of the country super pissed off because their hatred of the country is exposed by me.

You're the one who wants to tear down the whole capitalist system that made America what it is. You are the one who wants government to regulate pay for everyone. You are the one who wants entire classes of people to leave America.
The only hatred you have ever exposed is your own you dumbass.

 

[Ausm]

The President's reward for bailouts: re-election.

When are YOU going to change the system?

Do you really think there would have been no rewards if Rmoney won the Presidency?

 

[airdata]

Bank of america was caught stealing from customers and losing their money not too long ago.

And now BOFA is getting another bailout.

So, any of you with a brain. If they're broke, making bad bets w\ customer money and then failing to disclose information about their fuckups... How the fuck do you justify giving the CEO more money?

 

[Greenman]

I am changing the "System".

I get people that support the destruction of the country super pissed off because their hatred of the country is exposed by me.

What absolute utter tripe. You're not doing anything, you're not changing anything. You're railing at the heavens because you're upset about your own station in life.

 

[Fern]

2-19-2013

http://finance.yahoo.com/news/bofas-moynihan-gets-73-percent-220242981.html?l=1

BofA's Moynihan gets 73 percent pay increase in 2012



Bank of America Corp Chief Executive Brian Moynihan's pay increased 73 percent in 2012 from the previous year to $12.1 million

Bank of America's filings disclose only the stock portion of pay for Moynihan and other top executives in 2012. More details will be provided in the annual proxy filing this spring.

Since this only about the stock portion of his pay, it seems one would expect quite a large increase. See this from the article:

Bank of America's shares rose 109 percent in 2012

Since the share value more than doubled, one could expect something similar with his stock compensation.

Would need to compare number of shares and type of stock options granted with same data for 2011 to really tell much more though.

Fern

 

[Phokus]

If you are offended by his pay I suggest you target your anger at the board of directors and not the CEO. The best way to accomplish this is to become a shareholder in the company and attend the open board meetings and vote.

This is complete bullshit, most shareholders don't have a say. I probably own thousands of companies through my index funds, you think i have time for all that?

And many times, the CEO is the CHAIRMAN of the board. And they sit on each other's boards. They don't want to rock the boat. That is the problem with CEO pay and there's nothing we can do about it until the government decides to get off it's ass and step in.

 

[Fern]

-snip-

And many times, the CEO is the CHAIRMAN of the board.

I've never seen that in a large publicly traded company. (Not saying it doesn't happen though because I haven't done any research on it.)

To allow the CEO to be Chairman of the Board is recklessly stupid and undermines the entire concept of corporate governance.

Fern

 

[IBMer]

I've never seen that in a large publicly traded company. (Not saying it doesn't happen though because I haven't done any research on it.)

To allow the CEO to be Chairman of the Board is recklessly stupid and undermines the entire concept of corporate governance.

Fern

Its actually more common than you think. Duke Energy for one.

 

[Phokus]

I've never seen that in a large publicly traded company. (Not saying it doesn't happen though because I haven't done any research on it.)

To allow the CEO to be Chairman of the Board is recklessly stupid and undermines the entire concept of corporate governance.

Fern

Uhm, when i worked for IBM, Sam Palmisano was both the CEO and also the Chairman of the board, it' happens very frequently.

In fact, Sam Palmisano sat on Exxon's board while an ex-Exxon executive sat on IBM's board.

"To allow the CEO to be Chairman of the Board is recklessly stupid and undermines the entire concept of corporate governance."

LMAO. Open your eyes.

Edit: IBM's newest CEO is also chairman of the board

http://en.wikipedia.org/wiki/Ginni_Rometty

Edit 2: Good god, if conservatives knew how business really worked, you guys wouldn't be conservatives.

 

[dmcowen674]

Originally Posted by Phokus
-snip-

And many times, the CEO is the CHAIRMAN of the board.

I've never seen that in a large publicly traded company. (Not saying it doesn't happen though because I haven't done any research on it.)

To allow the CEO to be Chairman of the Board is recklessly stupid and undermines the entire concept of corporate governance.

Are you serious?

OMG the naivety

You've got to be kidding

 

[Phokus]

Its actually more common than you think. Duke Energy for one.

IBMer, do you ever regret having that as your username?