PG&E CEO's pay nearly doubled in 2005 to $2.1 million

Bush_Eats_Beef

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Tue Mar-14-06 06:15 PM
Original message

PG&E CEO's pay nearly doubled in 2005 to $2.1 million

PG&E CEO's pay nearly doubled in 2005
Silicon Valley/San Jose Business Journal - 2:31 PM PST Tuesday

http://sanjose.bizjournals.com/sanjose/stories/2006/03/13/daily20.html?jst=b_ln_hl

Chief Executive Peter Darbee's salary and bonus at PG&E Corp. nearly doubled to $2.1 million in 2005, according to the company's proxy.

PG&E (NYSE: PCG) said in the filing with the Securities and Exchange Commission that Darbee, who was promoted to chief executive officer from chief financial officer effective Jan. 1, 2005, also got a restricted stock grant for 2005 valued at $827,481, up from a restricted stock grant valued at $372,506 in 2004.

The company also granted Darbee 108,700 stock options in 2005 that it estimated were worth $833, 729.

In addition, the company said Darbee realized $3.2 million by exercising stock options last year.

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SoCalDem

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Tue Mar-14-06 06:18 PM
Response to Original message

1. Sounds about right..

Bills doubliing and tripling...what a fabulous job of management...THAT deserves a double salary..Looks like they took a page out of the oil company manual..
:puke:

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B Calm

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Tue Mar-14-06 06:24 PM
Response to Original message

2. AFL-CIO's website: Compare your salary to the CEO's

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm

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corporate_mike

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Tue Mar-14-06 07:48 PM
Response to Reply #2

6. Thanks for the link

Edited on Tue Mar-14-06 07:50 PM by corporate_mike

You'd better get working, because you can't take a vacation until 2194 A.D.

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B Calm

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Tue Mar-14-06 10:02 PM
Response to Reply #6

7. It's an awesome link!!

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aquart

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Tue Mar-14-06 06:42 PM
Response to Original message

3. He must be so embarrassed.

I'll bet other CEOs kick money in his face. I'm sorry, but 2.1 million? Division chiefs at other places earn ten times more when the bonuses are counted.

If every CEO would agree to take 10 million less, we wouldn't have to outsource.

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dogday

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Tue Mar-14-06 07:07 PM
Response to Original message

4. And the lowly employees find out their pensions

are being cut... Rich keep getting richer, Poor keep getting poorer....

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Deja Q

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Tue Mar-14-06 07:09 PM
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5. "But that's okay for him to do!", say Libertarians.

Except the same twits also say "it's okay to do what you want just as long as you don't hurt anyone else's lives."

oops!

Putting someone out of a job... sounds like hurting anyone else's lives to me...

Maybe I'm just confused.

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