Jeff Immelt on CEO Pay

The Conde Nast Portfolio Interview
February 8, 2007
Part 4
General Electric CEO Jeff Immelt with Condé Nast Portfolio editor-in-chief Joanne Lipman.
Go to portfolio.com/videos for the full interview.

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[squamish4244]

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

[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.

[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

[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?

[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 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]

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]

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.