The key issue to Texas citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.
Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of large Texas Companies were rewarded with in the past ten years. I completed my study of large Texas Non-Oil & Companies and now I have started studying large Texas Oil & Gas Companies.
The 35th Texas Oil & Gas Company I am addressing here is Andeavor.
From annual compensation information contained in Company Proxy Statement filings with the US SEC, the chart at the very bottom below shows Andeavor's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the nine years before it was acquired by Marathon Petroleum in 2018.
Andeavor's Top-Tier Executives Average Pay Raise was a bit messy but blistering 18.1% per year for these nine years, which is the 13th highest of the 35 large Texas Oil & Gas Companies I have addressed so far.
- Cheniere Energy Inc +141.9% per year for the past ten years
- Kinder Martin +115.8% per year for the past ten years
- Parsley Energy +72.8% per year for the past six years.
- Buckeye Partners +60.9% per year for the past ten years
- Diamondback Energy +52.9% per year for the past seven years
- Targa Resources +46.9% per year for the past ten years
- Enlink Midstream +35.7% per year for the past seven years
- Concho Resources +31.2% per year for the past ten years
- Western Refining +25.8% per year for eight years
- Marathon Oil +23.3% per year for the past ten years
- CVR Energy +21.9% per year for the past ten years
- Energy Transfer Companies +19.2% per year for the past ten years
- Andeavor +18.1% per year for nine years
- FMC Technologies +17.1% per year for seven years
- Spectra Energy Corp +16.4% per year for seven years
- Enterprise Products Partners +16.2% per year for the past ten years
- ConocoPhillips +14.8% per year for the past ten years
- Pioneer Natural Resources +14.4% per year for the past ten years
- Halliburton +14.3% per year for the past ten years
- Occidental Petroleum +14.3% per year for the past ten years
- Western Gas Partners +13.3% per year for the past ten years
- National Oilwell Varco+13.1% per year for the past ten years
- The New Baker Hughes, a GE Company +12.2% per year for the past three years
- HollyFrontier Corp +11.2% per year for the past ten years.
- Plains All America Pipeline +10.4% per year for the past ten years
- Cabot Oil & Gas +10.3% per year for the past ten years
- Valero Energy Corp +10.1% per year for the past ten years
- The Old Baker Hughes Inc +9.9% per year for eight years excluding Golden Parachutes Pay
- Schlumberger Limited +9.6% per year for the past ten years
- Apache Corp +8.4% per year for the past ten years
- Noble Energy Inc +6.5% per year for the past ten years
- Phillips 66 +5.4% per year for the past five years
- EOG Resources +5.1% per year for the past ten years
- Exxon Mobil +1.2% per year for the past ten years
- Anadarko Petroleum +1.1% per year for the past ten years
There have been many US Government laws enacted in the past two decades that have substantially increased income inequality expansion, but none more so than the Trump Tax Cuts Act.
On the other hand, the only highly effective US Government law enacted by either party in the past two decades that has substantially reduced income inequality expansion is Obamacare.
My objective is to get a better handle on just why the US and particularly here Texas has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages for the executives of a Company vs the many non-executive employees of a Company, coupled with the stock price appreciation subsequent to the time the company executives were rewarded in their pay with stock equity compensation.
And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives. This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.
My objective is to get a better handle on just why the US and particularly here Texas has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages for the executives of a Company vs the many non-executive employees of a Company, coupled with the stock price appreciation subsequent to the time the company executives were rewarded in their pay with stock equity compensation.
To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed, simple but effective Fair Pay Raise Income Inequality Narrowing Company tax incentives for rewarding non-executive employees with fair pay increases ..... the carrot ..... and Company tax disincentives for rewarding executive employees with clearly excessively high pay increases ..... the stick. I am certain ..... it is simple math ..... that this tax proposal would be very effective in substantially reducing the huge income inequality expansion that has occurred for decades in annual percentage pay raises between company executives and the rest of the company employees.
And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives. This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.
Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive.
Further, the US Government should ban Golden Parachutes.
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | |||||
| Dec | Dec | Dec | Dec | Dec | Dec | Dec | Dec | Dec | Dec | |||||
| Andeavor | 2018 | 2017 | 2017 | 2016 | 2016 | 2015 | 2015 | 2014 | 2014 | 2013 | ||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | ||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | ||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | |||||
| Gregory Goff Chair President and CEO | N/A | N/A | 19,925 | 18,180 | 18,180 | 23,255 | 23,255 | 20,856 | 20,856 | 13,177 | ||||
| Stevin Sterin CFO | N/A | N/A | 4,394 | 3,843 | 3,843 | 3,943 | N/A | N/A | ||||||
| Keith Casey EVP Commercial and Value Chain | N/A | N/A | 4,101 | 3,598 | 3,598 | 3,989 | 3,989 | 2,672 | ||||||
| Kim Rucker General Counsel | N/A | N/A | N/A | N/A | ||||||||||
| Cynthia Warner EVP Operations | N/A | N/A | 3,287 | 2,734 | 2,734 | 3,177 | N/A | N/A | ||||||
| Charles Parrish EVP General Counsel | N/A | N/A | 4,117 | 5,308 | 5,308 | 2,163 | ||||||||
| Scott Spendlove Former CFO | N/A | N/A | N/A | N/A | ||||||||||
| Totals | N/A | N/A | 31,707 | 28,355 | 28,355 | 34,364 | 31,361 | 28,836 | 26,164 | 15,340 | ||||
| Annual % Change vs Prior Year | N/A | 11.8% | -17.5% | 8.8% | 70.6% | |||||||||
| 4 Year Average Per Year % Change | 18.4% | |||||||||||||
| FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | FYE | |||||
| Dec | Dec | Dec | Dec | Dec | Dec | Dec | Dec | Dec | Dec | |||||
| Andeavor | 2013 | 2012 | 2012 | 2011 | 2011 | 2010 | 2010 | 2009 | 2009 | 2008 | ||||
| Top-Tier | Total | Total | Total | Total | Total | Total | Total | Total | Total | Total | ||||
| Executive | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | Comp | ||||
| $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | $ 000s | |||||
| Gregory Goff Chair President and CEO | 13,177 | 13,499 | 13,499 | 8,811 | N/A | N/A | ||||||||
| Charles Parrish EVP | 2,163 | 4,610 | 4,610 | 3,639 | 3,639 | 2,734 | 2,734 | 1,683 | 1,683 | 1,622 | ||||
| Scott Spendlove Former CFO | 2,011 | 3,617 | 3,617 | 2,515 | 2,515 | 1,273 | ||||||||
| Daniel Romasko EVP Operations | 2,643 | 3,152 | N/A | N/A | ||||||||||
| David Kirshner SVP Commercial | 1,981 | 2,380 | N/A | N/A | ||||||||||
| Everett Lewis Former EVP COO | N/A | N/A | 3,589 | 3,219 | 3,219 | 3,488 | ||||||||
| Bruce Smith Former Chair President and CEO | N/A | N/A | 8,752 | 13,302 | ||||||||||
| Gregory Wright Former CFO | N/A | N/A | 2,856 | 2,234 | ||||||||||
| William Finnerty Former EVP Strategy | N/A | N/A | 3,315 | 3,883 | ||||||||||
| Totals | 21,975 | 27,258 | 21,726 | 14,965 | 6,154 | 4,007 | 6,323 | 4,902 | 19,825 | 24,529 | ||||
| Annual % Change vs Prior Year | -19.4% | 45.2% | 53.6% | 29.0% | -19.2% | |||||||||
| 5 Year Average Per Year % Change | 17.8% | |||||||||||||
| 9 Year Average Per Year % Change | 18.1% |
