What would you buy for $400 Million? - Mercedes-Benz Forum

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post #1 of 12 (permalink) Old 04-09-2007, 09:25 AM Thread Starter
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What would you buy for $400 Million?

We can only hope he didn't have enough tax loopholes that he got off without a good tax bite.

This is obscene. Not that I have an opinion.


Occidental boss took home $400M in 2006

CEO nets one of biggest paychecks in corporate history; most from stock options accumulated over last decade.

CHICAGO (Reuters) -- Occidental Petroleum Corp.'s chairman and chief executive took in more than $400 million in compensation last year, the company said in a filing, one of the biggest single-year payouts in U.S. corporate history.

The largest part of Ray Irani's 2006 payout was $270.2 million from the exercise of options awarded from 1997 to 2006, representing more than 7.1 million shares, according to the company's annual proxy statement, which was filed with the Securities and Exchange Commission in March.

Irani also received $93.3 million in stock and dividends from a deferred stock program when the company closed the plan in October due to increases in liability and expenses for the program, the company said.

Irani's salary in 2006 was $1.3 million and his cash bonus was $1.4 million, according to the filing. But stock and option awards and other benefits lifted his 2006 compensation to $55.6 million, the proxy said.

In the proxy, the company said that from December 1990 - when Irani succeeded Armand Hammer as chief executive - through 2005, the company's stock rose to about $40 a share from $9 and its total shareholder return was 699 percent.

"When you look at this, this is solid pay for performance," said Richard Kline, an Occidental spokesman. "It serves the best interest of the corporation and the best interest of the shareholder."

Occidental (down $0.07 to $49.88, Charts) stock was little changed in early trading on the New York Stock Exchange.

According to the Wall Street Journal, only a few CEOs have ever made more money in one year. In 2001, Oracle Corp. (Charts) CEO Larry Ellison received $706 million from exercising stock options, and in 1998 former Walt Disney Co. (Charts) CEO Michael Eisner received $570 million, according to the newspaper.

Former Exxon Mobil (Charts) head Lee Raymond also received a $400 retirement package last year, which was widely reported and criticized amid soaring gasoline prices.

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post #2 of 12 (permalink) Old 04-09-2007, 09:26 AM
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post #3 of 12 (permalink) Old 04-09-2007, 09:34 AM
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When you control the chips the chips end up in your hands with skill and luck. Employees and shareholders need to pay more attention to say the least.
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post #4 of 12 (permalink) Old 04-09-2007, 10:03 AM
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one way flight to AU, NZ and so on...



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post #5 of 12 (permalink) Old 04-09-2007, 10:10 AM Thread Starter
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When you control the chips the chips end up in your hands with skill and luck. Employees and shareholders need to pay more attention to say the least.


Yeah, you definitely don't let that guy be "banker" when you play Monopoly.

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post #6 of 12 (permalink) Old 04-09-2007, 11:06 AM
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Not bad for a guy that worked 24/7 and got paid $45,662 per hour!

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post #7 of 12 (permalink) Old 04-09-2007, 11:08 AM
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Mountain/river front ranch in Co., new phantom, fly private some of the time, manage the money, manage the money, manage the money.
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post #8 of 12 (permalink) Old 04-09-2007, 11:48 AM
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Travel around the world, buy land/property, invest and yes buy more Mercedes Benz cars
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post #9 of 12 (permalink) Old 04-09-2007, 12:13 PM
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Buy back the company that paid him. I am sure by then it will be worth that much if not half that
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post #10 of 12 (permalink) Old 04-09-2007, 12:26 PM
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“What would you buy for $400 Million?”

That might be enough to have all three of my cars repaired at the dealership.
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