Wuerth While Wily Wakenings: Highland Heights, Kentucky-Based General Cable Corp's Top-Tier Executives Average Annual Pay and Employee Benefits Increase Was a Blistering 30.0% Per Year During the Two Years (2017 and 2016) Before It Was Acquired in 2018

Monday, November 4, 2019

Highland Heights, Kentucky-Based General Cable Corp's Top-Tier Executives Average Annual Pay and Employee Benefits Increase Was a Blistering 30.0% Per Year During the Two Years (2017 and 2016) Before It Was Acquired in 2018

The State of Kentucky is holding its 2019 Governor's election on November 5, 2019.

Thus I think it would be helpful to research the extent of income inequality expansion in the State of Kentucky in the most recent years.

So far in my research of large US Corporations I have shown that their Top-Tier Executives have been rewarded continually with just enormous annual increases in pay and employee benefits, mostly stock equity compensation, even to the extent that the key issue to US citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.

There have been many US Government laws enacted in the past two decades that have substantially increased income inequality expansion including the year after year after year of annual furtive tax extenders of predominately special interests additional tax loopholes, which both the Democratic and Republican Establishments voted for under the radar screen every year just before calendar year end, but nothing was even close to being more income inequality expanding 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 has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay and employee benefits percentage increases 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.

In my study here of large Kentucky Companies I will be doing this research generally by largest stock market capitalization and thus the 15th Kentucky Company I am addressing here is General Cable Corp, which was acquired in 2018.

From annual compensation information contained in Company Proxy Statement and 10K filings with the US Securities and Exchange Commission, the table below shows General Cable Corp's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the four years (2014 to 2017) before it was acquired in 2018.

General Cable Corp's Top-Tier Executives Average Annual Pay and Employee Benefits Increase was a blistering 30.0% per year during the two years (2017 and 2016) and 19.7% per year during the four years (2014-2017) before it was acquired in 2018.

FYE

Dec

General Cable Corp

2018

2017

2016

2015

2014

2013

Top-Tier

Total

Executive

Comp

$ 000s

McDonnell CEO

N/A

5,563

4,088

N/A

Masanovich CFO

N/A

Moser General Counsel

N/A

1,624

1,044

1,074

Singhal President Europe

N/A

Stark human Resources Officer

N/A

Picon Former President North America

N/A

Robert Kenny CEO Europe and Africa

1,268

1,516

982

Lampert CEO Americas

3,426

2,194

2,309

1,991

Robinson Former CFO

N/A

2,249

2,296

1,978

Gregory Kenny Former CEO

N/A

5,407

4,966

Sabonnadiere Former EVP

N/A

Siverd Former General Counsel

N/A

Totals

N/A

7,187

5,132

5,738

4,784

5,959

5,587

10,012

8,935

Annual % Change vs Prior Year

N/A

40.0%

19.9%

6.7%

12.1%

2 Year Average Per Year % Change

30.0%

4 Year Average Per Year % Change

19.7%