Monday, October 17, 2011

A closer look at a Wall Street "Fat Cat"

One refrain we keep hearing from the protesters trying to occupy Wall Street and other places is that corporate CEOs make too much money.

These Wall Street "fat cats" just sit around in their plush offices - they should pay their fair share.

It's so wrong that these guys get these huge executive salaries and bonuses while the rest of us don't even have jobs.

Really? I think that these protesters may be barking up the wrong tree.

Here's some information I dug up about one of those Wall Street "fat cats" - Jeffrey Immelt, President and CEO of General Electric Corporation (better known to us as GE).

Jeffrey Immelt's salary in 2010 was $3.3 million, and he received an executive bonus of $4 million.
In 2010, Jeffrey Immelt's jobs included:
  • CEO of GE
  • Trustee at Dartmouth College
  • Director of the Robin Hood Foundation, a non-profit foundation dedicated to helping people obtain the dream of home ownership
  • Director of NBCUniversal Media
  • Trustee of the Ronald Reagan Foundation
  • Director, Catalyst, Inc.
It appears that Mr. Immelt owns two homes; one in New Canaan, Connecticut and an apartment in New York City.

Mr. Immelt earned a degree from Dartmouth College and an MBA from Harvard Business School.

Now, let's take a look at another famous person. His name is Johnny Depp, a high-school dropout.
2010 income (estimated): $75 million
In 2010, Mr. Depp's jobs included making 2 films:
  • Alice in Wonderland
  • The Tourist
His charitable efforts included donating a pair of underwear to be auctioned off for the Helen and Douglas House (the underwear sold for $3,000). He also donated a headband that he wore in one of his Pirates of the Caribbean movies to be sold at auction. In early 2010, he played guitar on a single to benefit earthquake victims in Haiti. It looks like Mr. Depp supports several different charities.

Johnny Depp owns the following properties, and possibly more that are unknown:
  • Mansion in Somerset, England
  • An unnamed island in the Bahamas
  • Mansion in West Hollywood
  • Penthouse in Los Angeles
  • Home in the South of France
  • Home in Hawaii
  • Palazzo in Venice, Italy
Oh yes, one other thing. The company that Jeffrey Immelt runs employed 287,000 people in 2010.

So remind me again, why are we picking on corporate CEOs and presidents here?

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