MSNBC has published a list of the 10 highest paid CEOs in America for 2011. While going through the list, a couple of names really stuck out:
9. Ronald A. Williams
- Company: Aetna
- Total 2010 compensation: $57.8 million
Shares of Aetna, a major health insurer, were down 7 percent in 2010, underperforming the S&P 500 by a large margin. Williams’ pay was based on several factors, none of which was stock price. EPS, pre-tax operating margins and an increase in the dividend were the major measures of his performance, according to the board. The board can make the case, persuasively, that the insurance firm had a good year financially in 2010. The company’s EPS rose from $2.84 in 2009 to $4.18 last year, even though revenue fell slightly from $28.3 billion to $27.6 billion. Williams retired in 2011. The board gave Williams a relatively reasonable gift as he left, at least based on 2010 performance.
How many Americans could be insured with say only half this man's salary? A lot!
When you first glance at those numbers, it doesn't appear to be that great of a year for the insurer. I mean they ended up earning almost $750 million less than the year before, but there are other factors that go into that, like the number of American's who are unemployed and uninsured and people having to take lower policies to save money.
But the healthcare bill, that many on the right said would hurt the insurance giants, appears to not be having that affect when they can pay salaries like this.
Coming in at second we have this one:
2. Joel F. Gemunder