The chief executive officer supervising the portfolio of fastest growing credit-card delinquencies was paid a total of $27.3 million in 2008. His packages consisted of:
- $1.25 million base
- $10.2 million in stock awards
- $7.9 million in options
- $6.1 million in non-equity incentive pay
- $640,711 in pension value change
...and amusingly $1.2 million in "other compensation" which included $874,047 of "perquisites" such as $134,299 in local travel benefits (that's a lot of subway rides) and $414,702 for personal aircraft use (you are only a baller if you charge the 1 hour NetJets flight to your Centurion).
His comp is well-deserved (at least on a relative value): AXP has fallen "only" 66% in the past 12 months, compared to such other comparables as Citi (-87%) and AIG (-97.8%). It is interesting if American Express is the credit card of choice in congress and the administration... that would provide some explanation for why Cuomo and Frank haven't gone all "fraudulent conveyance" yet on his backside.
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