To put this in perspective, the winner of the multi-million dollar Powerball jackpot makes more than this guy.

I think many people working in health care have heard of McKesson.

145 million a year - that guy's living the dream, eh gaz. imagine the bunker you could build with that sort of cash

Compensation package consultant? Sounds like he's part of the problem.

FTFA John Hammergren isn't necessarily the highest-paid CEO in America.

Dinki: So to pay this farkwad his ridiculous compensation, the company has to charge more for its products, which drive up the cost of medical care for EVERYONE. And of course any pension fund that has stock in McKesson gets less because the board is given so much of the company value to this one guy.

But of course the usual idiots will be here to defend this.

I am the 3.1972725576923E-09%

GaryPDX: Attack the evil one percenter!

Wow Gary's back.

Why am I not surprised that the 1% percenter is in a business related to healthcare. Is the second 1% percenter the guy who runs United Healthcare?

Health care is the new finance.

While bankers take the flak, health care execs rake in the cash.

so, i mean, seriously, now

Then I read him Hammergren's annual total compensation payouts, taken from the company's public filings with the Securities and Exchange Commission: $46 million in 2011; $55 million in 2010; $37 million in 2009; another $41 million in 2008. Hammergren hadn't founded the company. Wall Street analysts covering McKesson can tell you of the disappointments and miscues that have marked his tenure. But his haul in the 13 years he has been running McKesson? More than $500 million, according to data provided by Equilar, an executive-compensation data firm.

forgive me, but what's so, so, so special about this guy that he deserves that kind of money?

/or are we ready to admit that ceo pay is a scam?

That money should be seized to pay for Healthcare.

21-7-b: 145 million a year - that guy's living the dream, eh gaz. imagine the bunker you could build with that sort of cash

Why are you building a bunker with cash? I think some combination of metal and concrete would make a better bunker.

9beers

why should Dinki be jealous of someone motivated by extreme greed?

I'm very familiar with McKesson and I'm sure half the people I know are too.

Guelph35

Why are you building a bunker with cash? I think some combination of metal and concrete would make a better bunker.

you can eat the cash if the russians contaminate your food rations with their secret weapons

But he's just successful right?

If these a-holes got less money, even just half of their HUGE compensation packages, I'm wondering how that would equate to creating more jobs.

To be fair, McKesson is headquartered in San Francisco. The cost of living is really high there.

50 Best Celebrity Bikinis Link (new window) Is just below the article, and is a much better read.

Dinki

Don't you know? The 1% are better than us. Much better. So much better our little minds can't imagine their intellectual superiority.

they.are.our.masters

/dalek voice

Zizzowop: But he's just successful right?

If these a-holes got less money, even just half of their HUGE compensation packages, I'm wondering how that would equate to creating more jobs.


Would more jobs create more income and make for a bigger compensation? Oh yea, that's how real capitalism works. Now they just suck the life out of everything.

/goose golden something something

GaryPDX: 2wolves: The shareholders would have a bigger dividend if the compensation package was reasonable.

Just curious. You do know non-profits can be gamed even easier than a corporation, right? The operators of non-profits have no-one to answer to. I think I'll start one of those "Wellness" non-profits and go around poking people with a stick to see if they are "Well" and then bill the government. Sounds like a cool plan. Or I could sell "Organic Green" tooth brushes for 50 bucks a pop. What a deal.

Need an SEO guy? I think you might be on to something here.

Dinki: 9beers:

Yeah, I'm jealous of him. Just like I'm jealous of rapists, bank robbers, muggers, and polluters. I'm just so jealous of those people that get away with criminal, unethical and immoral things.

At which point would you refuse a paycheck on moral grounds?

America has just discovered that there are rats in the pantry, and they want the problem fixed.

9beers

(UJelly.jpg)

Rational, intelligent people who don't agree with the practices of Laissez-faire capitalism are probably rarely jealous of the filthy rich. I am not jealous of this farking guy. A person who isn't satisfied with a lifestyle that's perhaps five times above that of the American middle class of the 1980s to mid-2000s deserves scorn in my opinion, particularly when s/he attempts to dodge paying their fair share of society's costs, the same society from which their obscene wealth originates, and passes the costs onto those below them.

If we were jealous, we'd simply join their ideology and try to outdo them.

Teen Wolf Blitzer

At which point would you refuse a paycheck on moral grounds?

when the majority of intelligent people within society would judge it to be obscene

But that's because he cashed out $112 million in accumulated stock options in a single year, according to GMI.

So 77% of what he "made" was from capital gains.

23% from salary.

I actually used to work for McKesson-HBOC (when the scandal broke) and I have no problem imagining a company as poorly run as it would overpay its CEO. Hell, I was overpaid and all I did was stage laptops for their clients. They outsourced my job to CompUSA in Texas. I got a hell of a severance package.

21-7-b: Teen Wolf Blitzer

At which point would you refuse a paycheck on moral grounds?

when the majority of intelligent people within society would judge it to be obscene

What point is that?

Dinki: So to pay this farkwad his ridiculous compensation, the company has to charge more for its products, which drive up the cost of medical care for EVERYONE. And of course any pension fund that has stock in McKesson gets less because the board is given so much of the company value to this one guy.

But of course the usual idiots will be here to defend this.

Medical care costs too high? Don't pay it! Nobody is forcing you to buy their healthcare or products at gunpoint, except maybe Uncle Sam.

How much do the shareholders get out of this? (stopped reading early, is this a publicly traded co.?)

We are in serious need of corporate reform in the U.S. CEO's board members and other officers of these corps are raiding the corporate treasuries at the expense of the employee's and shareholders. Shareholders that are the same employees, Union pension funds and individual IRA's and 401K's that are currently getting screwed in the roulette wheel of Wall Street.


CEO's should be limited to a fixed multiple of their lowest paid employee. Then if the board wants to pay them more, they can do so only by investing this position with the same common stock that is publicly traded. However, the CEO can not sell, trade or borrow against these shares. They are held by the company. The CEO can only get the dividends they represent. This way, the only way a CEO can get bonuses is by sharing the wealth with the common stock holders of the company. You know, the union pension plans, mutual funds, IRA's and 401K's we all are part of.

Example: say we limit the salary of the CEO to 20 times the lowest paid person, who in turn gets minimum wage of 7.25 hour, or 14,500 per year. this limits the CEO to a salary of 290,000. Not shabby. If they want to pay him more, they could invest the office of CEO with 1,000,000 shares and pay out $1 a year in dividends. But that same $1 goes to every other shareholder as well. It could be $4, $10, whatever. But the idea is we all get our share as well.

This might encourage corporations to raise wages of their lowest paid employee's, and change the investment climate on Wall Street from valuing a stock based on an unknowable future price that is mostly based on fashion, rumor and gossip, to valuing a stock based on how much the company earns and returns to it's shareholders.

The company had revenues last year of 108 billion dollars. They're paying their CEO .05% of their income, on net profits of over a billion dollars.

If that's what it costs to hire a guy to run your 108-billion-dollar business, you do it, and don't think twice.

Republicans aren't pro-business, they're pro-executive. They make it possible for The Few to drain cash from American institutions. That's why stock values rise more when dems are in power.

put it in perspective

he's racked up 500 million over 13 years. he could take that money and use it to double the income of, what, a couple of million of the poorest people on the planet for the next year. a couple of million people. farkers deserve to suffer, though, right, gaz? it's their fault for being born in a shiat-hole and not being bootstrappy enough to grab one of these ceo gigs.

namatad
alas
I actually knew about this company from the work I do.
No really, not because I needed a walker.

My father was a drug rep/salesman for McKesson Drugs before he became a pharmacist for The Jones Apothecary in Houston.



/I miss ya Dad!