These 55 Top Executives had Total Compensation Combined in the most recent year disclosed of nearly $1 bil, or precisely $972,199,000, or an average of $17,676,000 for each of them.
I think the SEC should require disclosure in the company proxy statement of the average pay for all non-executive employees. But my hunch is that the average full-time employee at these 30 Dow Companies probably makes a total compensation of about $60,000 per year. Thus, that above $17,676,000 top executive total compensation average is 295 times the $60,000 earned by the average Dow employee.
And my hunch is that the average pay of employees of all US businesses is probably about $45,000 per year. Thus, that above $17,676,000 top executive total compensation average is 393 times the $45,000 earned by the average US employee.
And the underemployed working three part-time jobs, totaling 2,000 hours for the year, and getting paid just above the minimum wage make about $20,000 per year. Thus, that above $17,676,000 top executive total compensation average is 884 times the $20,000 earned by that full-time underemployed worker.
And the many unfortunate unemployed for the full year get about $10,000 per year. Thus, that above $17,676,000 top executive total compensation average is 1,768 times the $10,000 of unemployed compensation of the average unemployed person who can't find a job.
It is pretty clear to me that Unfettered Capitalism just isn't working in the US. This huge income inequality has always been there, but it started getting way out of hand beginning in 2001.
And the US Congress has consistently legislated for this income inequality since 2001.....many of them intentionally, but some of them unintentionally, not having the sufficient financial expertise to understand the true economic consequences of their votes.
On the positive side, so which was the Dow company that had no executive making $10 mil or more? It was McDonald's.
Below here is the Total Compensation for each of these Top Executives of these 29 Dow Companies in the most recent year disclosed, first shown by company, and second sorted by dollar amount:
| Total | ||
| Compensation | ||
| Dow Industrials | Most Recent | |
| Company | Executive | Year |
| $000s | ||
| Sorted by Company | ||
| Alcoa | Kleinfeld | 14,044 |
| American Express | Chenault | 23,039 |
| American Express | Gilligan | 15,890 |
| Boeing | McNerncy | 22,958 |
| Bank of America | Thompson | 11,114 |
| Bank of America | Montag | 14,299 |
| Caterpillar | Oberhelman | 16,902 |
| Cisco Systems | Chambers | 11,688 |
| Chevron | Watson | 24,727 |
| Chevron | Yarrington | 11,289 |
| Chevron | Kirkland | 16,513 |
| Chevron | Wirth | 11,379 |
| DuPont | Kullman | 15,927 |
| Disney | Iger | 40,228 |
| Disney | Rasulo | 12,201 |
| General Electric | Immelt | 21,581 |
| General Electric | Sherin | 16,211 |
| General Electric | Krenicki | 14,550 |
| General Electric | Neal | 17,306 |
| General Electric | Rice | 20,579 |
| Home Depot | Blake | 10,795 |
| Hewlett Packard | Whitman | 15,362 |
| Hewlett Packard | Donatelli | 10,630 |
| IBM | Palmisano | 31,799 |
| Intel | Otellini | 17,492 |
| Johnson & Johnson | Weldon | 26,798 |
| JPMorgan Chase | Dimon | 23,105 |
| JPMorgan Chase | Braunstein | 13,038 |
| JPMorgan Chase | Drew | 15,510 |
| JPMorgan Chase | Staley | 15,393 |
| Coca Cola | Kent | 29,116 |
| 3M | Buckley | 25,392 |
| Merck | Frazier | 13,348 |
| Merck | Clark | 14,727 |
| Microsoft | Turner | 10,684 |
| Pfizer | Read | 25,013 |
| Procter & Gamble | McDonald | 15,199 |
| AT&T | Stephenson | 22,018 |
| AT&T | Stankey | 11,460 |
| Travelers | Fishman | 16,479 |
| UnitedHealth Group | Helmsley | 13,395 |
| UnitedHealth Group | Wichmann | 10,711 |
| UnitedHealth Group | Boudreaux | 10,925 |
| UnitedHealth Group | Renfro | 10,603 |
| United Technologies | Chenevert | 27,671 |
| Verizon Communications | McAdam | 23,120 |
| Verizon Communications | Seidenberg | 26,455 |
| Walmart | Duke | 18,132 |
| Walmart | McMillon | 10,961 |
| Walmart | Ashe | 11,248 |
| ExxonMobil | Tillerson | 34,921 |
| ExxonMobil | Humphreys | 18,486 |
| ExxonMobil | Albers | 13,637 |
| ExxonMobil | Dolan | 15,207 |
| ExxonMobil | Pryor | 10,944 |
| Total all 55 | 972,199 | |
| Average | 17,676 | |
| Total | ||
| Compensation | ||
| Dow Industrials | Most Recent | |
| Company | Executive | Year |
| $000s | ||
| Sorted by Dollar Amount | ||
| Disney | Iger | 40,228 |
| ExxonMobil | Tillerson | 34,921 |
| IBM | Palmisano | 31,799 |
| Coca Cola | Kent | 29,116 |
| United Technologies | Chenevert | 27,671 |
| Johnson & Johnson | Weldon | 26,798 |
| Verizon Communications | Seidenberg | 26,455 |
| 3M | Buckley | 25,392 |
| Pfizer | Read | 25,013 |
| Chevron | Watson | 24,727 |
| Verizon Communications | McAdam | 23,120 |
| JPMorgan Chase | Dimon | 23,105 |
| American Express | Chenault | 23,039 |
| Boeing | McNerncy | 22,958 |
| AT&T | Stephenson | 22,018 |
| General Electric | Immelt | 21,581 |
| General Electric | Rice | 20,579 |
| ExxonMobil | Humphreys | 18,486 |
| Walmart | Duke | 18,132 |
| Intel | Otellini | 17,492 |
| General Electric | Neal | 17,306 |
| Caterpillar | Oberhelman | 16,902 |
| Chevron | Kirkland | 16,513 |
| Travelers | Fishman | 16,479 |
| General Electric | Sherin | 16,211 |
| DuPont | Kullman | 15,927 |
| American Express | Gilligan | 15,890 |
| JPMorgan Chase | Drew | 15,510 |
| JPMorgan Chase | Staley | 15,393 |
| Hewlett Packard | Whitman | 15,362 |
| ExxonMobil | Dolan | 15,207 |
| Procter & Gamble | McDonald | 15,199 |
| Merck | Clark | 14,727 |
| General Electric | Krenicki | 14,550 |
| Bank of America | Montag | 14,299 |
| Alcoa | Kleinfeld | 14,044 |
| ExxonMobil | Albers | 13,637 |
| UnitedHealth Group | Helmsley | 13,395 |
| Merck | Frazier | 13,348 |
| JPMorgan Chase | Braunstein | 13,038 |
| Disney | Rasulo | 12,201 |
| Cisco Systems | Chambers | 11,688 |
| AT&T | Stankey | 11,460 |
| Chevron | Wirth | 11,379 |
| Chevron | Yarrington | 11,289 |
| Walmart | Ashe | 11,248 |
| Bank of America | Thompson | 11,114 |
| Walmart | McMillon | 10,961 |
| ExxonMobil | Pryor | 10,944 |
| UnitedHealth Group | Boudreaux | 10,925 |
| Home Depot | Blake | 10,795 |
| UnitedHealth Group | Wichmann | 10,711 |
| Microsoft | Turner | 10,684 |
| Hewlett Packard | Donatelli | 10,630 |
| UnitedHealth Group | Renfro | 10,603 |
| Total all 55 | 972,199 |
In my next three posts, let me focus on Total Compensation of at least $10 mil each of Top Executives working in the three sectors which have been both the major contributors to and the beneficiaries of the wide income inequality gap, which started getting out of hand in 2001.....Big Oil and Gas, Big Health Care, and Big Financial.
