{"id":192,"date":"2011-11-01T08:03:20","date_gmt":"2011-11-01T14:03:20","guid":{"rendered":"http:\/\/www.gbvdems.org\/blog\/?p=192"},"modified":"2011-11-01T08:07:29","modified_gmt":"2011-11-01T14:07:29","slug":"guest-column-on-forbes-com-why-americas-highest-paid-ceos-are-insanely-overpaid","status":"publish","type":"post","link":"http:\/\/www.gbvdems.org\/blog\/?p=192","title":{"rendered":"guest column on Forbes.com: Why America’s Highest Paid CEOs Are Insanely Overpaid"},"content":{"rendered":"

http:\/\/www.forbes.com\/sites\/christopherhelman\/2011\/10\/25\/why-americas-highest-paid-ceos-are-insanely-overpaid\/<\/a><\/p>\n

. . .<\/p>\n

So then, let my evisceration commence. The one to triumph in this year\u2019s tournament for the most rapacious pillage of shareholder property is John H. Hammergren, chairman and CEO of McKesson<\/a> Pharmaceuticals. His \u201ccompensation\u201d which is doesn\u2019t really capture the essence of his remuneration, was a mind blowing $131.2 million U.S. dollars. This number is obscene. It is just shy of 11% of the total $1.2 billion in net income for the entire company<\/strong>. The number is so offensive that my brain thought surely the reference had to be Japanese yen or some other currency. If we were talking 131.2 million yen that would be more reasonable\u2013equivalent to around $1.7 million. That\u2019s a good salary for a manager of 36,400 people.<\/p>\n

But defenders will say, McKesson\u2019s stock is up 20% and Hammergren has created prodigious amounts of shareholder value. And my goodness, McKesson is the 15th largest company in America with deca-billions in revenue and they do all of these incredibly wonderful things and John is such a great leader and manager and family man, and charitable and a civic leader, and don\u2019t go on because nausea has overcome me and I\u2019ve already vomited. Deaf to it all I am. It cannot be reiterated enough.\u00a0 He\u2019s a manager, nothing more nothing less. McKesson has been \u201ca trusted supplier of medical goods and supplies\u201d for more than 175 years. Hammergren joined the company in 1996. His CV on the company website attributes to him no inventions or holder of patents. He assumes no personal risk: Unlike an entrepreneur, he has no personal capital whatsoever on the line. MANAGER. He is surely an astute and capable one given his pay, but a manager nonetheless<\/strong>.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

http:\/\/www.forbes.com\/sites\/christopherhelman\/2011\/10\/25\/why-americas-highest-paid-ceos-are-insanely-overpaid\/ . . . So then, let my evisceration commence. The one to triumph in this year\u2019s tournament for the most rapacious pillage of shareholder property is John H. Hammergren, chairman and CEO of McKesson Pharmaceuticals. His \u201ccompensation\u201d which is … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-192","post","type-post","status-publish","format-standard","hentry","category-political-news-national"],"_links":{"self":[{"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=192"}],"version-history":[{"count":0,"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/192\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=192"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.gbvdems.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}