October 18th, 2021


It Pays to Fail | Can't Stop Myself

News of the Weird by Chuck Shepherd

By News of the Weird by Chuck Shepherd

Published August 3, 2015

 It Pays to Fail | Can't Stop Myself

The enormous compensation CEOs of large corporations receive is justified in part by their bringing prosperity to their shareholders, but last year (an excellent one for most investors), two of the nation's best-paid chief executives "earned" handsome raises despite presiding over losses: Philippe Dauman of Viacom Inc. (paid $44.3 million, stock lost 6.6 percent) and Jeffrey Immelt of General Electric (an 88 percent raise to $37.3 million, stock lost 6.7 percent). CEO Steven Newman of Transocean earned only $14.2 million, according to a June Wall Street Journal report, but that was a 2.2 percent boost -- for stewardship that resulted in one of 2014's biggest flops -- Transocean's 59.9 percent loss for its shareholders. [Wall Street Journal, 6-25-2015]

Esteban Rocha, 51, was arrested in June in Placerville, California, and charged with exposing himself to a woman -- about 25 minutes after Rocha had left the Placerville Police Department, where he had dutifully gone to register his location so that police could keep track of him. [Sacramento Bee, 6-23-2015]

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