Jeff Immelt on CEO Pay

[GearingDestroyer]

G.E.’s Strategies Let It Avoid Taxes Altogether

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

Pay your fucken taxes!

[432F01]

I just turned the sound down and stared at that broad's legs.

[thierrydude]

If have never heard so much general information made to sound so......................genera­l. This guy has never washed dishes, served in Military, worked on assembly line, made a taco or a hamburger in this country. I grew up on Military bases and worked hard all of my life and I really don't like people this who are taught that they are rich, privileged and immortal because the general population are just numbers. This douchebag is perfect for an Obama Czar. Boy can this guy blather.

[whoo689]

A few million a year should be MORE than enough for executives. Golden parachutes on the order of $100 or 200 Million is insane. A few million is a good sum of money, a lot more than the vast majority of Americans make. The average American is LUCKY to have saved up even $1 Million for retirement. These fuckers giving themselves all this money as execs should be grateful to the shareholders and consumers who REALLY 'write' their checks and help them stay in business.

[whoo689]

I'm not convinced that CEOs need extremely high pay in order to "encourage talent." I think it just rewards irresponsibility and unrestricted greed. I mean, look at Congress! They're very stingy about raising the min. wage, but they've given themselves 10s of thousands in pay raises over just the last 20-30 years alone! But these pay increases haven't encouraged better Congressmen. Far from it.

[whoo689]

Only a child needs MORE than the already-huge sums they're making somewhere else in order to say, "You know what? I think I'll go to this company instead." It's fucking ridiculous. Talent doesn't require someone who just wants a lot of money to splurge.

[whoo689]

If CEOs truly wanna help run companies and be good stewards, they should have the will and courage to do it ON THEIR OWN, not through 'incentives' like ridiculous compensation packages. When excessive pay drives 'talent', we're fucked. Doctors make something like $100,000 or 150k, but we still have PLENTY of quality doctors in this country. No reason why a CEO needs more than perhaps 500 grand or a million to be incentivized enough. If they're too stingy for even THAT, fuck em.

[whoo689]

If I made just $1 Million per year, I'd be fucking overjoyed. If it started now, I'd have probably at least $30 or 40 Million when I retire. That's MORE than enough to survive and have a good life.

[whoo689]

If high CEO pay is supposed to encourage good CEOs, what about all the Wall St. bankers who helped crash our econ.?? Why didn't that high pay encourage GOOD bankers who could actually see the crash coming and STOP it from happening? They had to have known shit was wrong. I mean, in the book "All the Devils Are Here", a LOT of executives from those companies say they could tell shit was about to hit the fan, but their higher-ups had none of it. Perhaps we need a new pay strategy?

[squamish4244]

@whoo689 They need to snort more coke off of hookers or buy another yacht, three yachts just won't do.

[hippytip]

@whoo689 i dont think you would have that much, cuz of taxes. If ur salary was 1 million, you probably get $800,000/ year. Which is still very good

[zorbaka2]

one more. If you are in charge of where all the money goes, where will you put it? It has very little to do with what they are worth. Most companies would make more profit if the executives took a few months off. The value is produced by people who are constantly being told the money is tight, sorry no raises.

[zorbaka2]

executive compensation is taking us down the path of mexico. A few greedy people in charge of their companies resources. They channel 90% of it to their personal accounts while the countries workers are being steered into peasantry. also it is changing. It is getting worse as they try to get all they can before our eyes are all open.

[rbwannasee]

I was laid off by GE back in March. I worked at one of their sites that was another company they purchased. The original company was started back in the 1970's and owned it's own building. GE sold the building then rented it back, sent over 50% of the manufacturing to China, laid off all mfg. floor employees (200+) except 5 as of Oct '09, and now is selling off that entire division of GE!

And that's okay.

PS - this comment is not disparagement GE, just the truth.

[irshc]

This country has it all backwards. It is the workers that should be splitting these kinds of bonuses, not the ceos. It is the massive productivity of the workers that brings the bucks in, and product going out.

The whole idea of the CEO has become so perverted in this country that I find Playboy and Penthouse to be more honest in their dealings that most corporate CEOs.

[runningbeagle]

I'd like to have a beer with him. Seems like the kind of guy who would have some good, blunt things to say with a couple drinks in him. I love CEOs.

[brianjcavanaugh]

Immelt can lick my nuts.

[Montechillo]

You are an asshole!!!!!!

[birdbook1]

He got so much money he is tickled to death.

[birdbook1]

How do justify making 56,000,000.00 dolars a year heading a private firm with a budget that is 1% of the USA budget while the president of the USA makes only 400,000.00.

Other firsm in the world such as Petrochem of China is a gigantic and successful company. It's CEO does not make more money than a small business man in this country. Wonder why CEOs in here all get so much compensation when their companies are even going south or even bankrupt or when ivesters are turned into losers.

[SIMPDUDE]

EHH SHADAP YA DAMN PANZIES!! YA'LL AIN'T GOT NO REASON TO COMPLAIN ABOUT PAY IF U GOT THE MONEY TO BE ON THE INTERNET. Let Immelt and them have their big pay, cause being a C-level guy is some tough shit.

[432F01]

What a great set of legs. I'd like to suck her thighs.

[KrazyKali69]

In a different video, he explains that he doesn't hear any of his employees complaining about their pay. Well, take another look, thats because they are either rich white CEO's or Indians from India that have come here to steal our jobs. they have half the education yet get our jobs with almost same pay. And to think, this guy gets 15 million a year in compensation, he did nothing to deserve this.

[Meowianne]

White collar scam artists! Immet believes judgement is important! Gosh, what a revelation! The executive boards are greedy gang members out to screw the masses! Executive compensation is excessive, undeserved, secretive, criminal & harmful to the backbone/future of America! Total disconnection from the truth!

[PoiZinConTrol]

Couldn't have said it better myself.

[Rexanglorum]

Please spare use the labor theory of value/just wage fallacies. Labor's value is detremined by what sets the value for everything and that is what others are willing to give up to obtain your labor. If a CEO can get someone to voluntarily give uo hundred of milliosn of dollars, well that is waht they are worth at least to that particular firm. I really see nothing destructive about that.