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Strategies & Market Trends : Wall Street Hillbilly

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To: jan_vandermeer who started this subject	4/13/2003 9:54:09 AM
From: jan_vandermeer	of 300

Gerstner's Pillaging of IBM in Retirement: Louis V. Gerstner, Jr. - Retired 2002 Title - Chairman *Years of Service - 9* Final salary - $3.5 million including bonus Annual pension - About $2.45 million Plus - Award of 125,000 IBM shares. 10 year consulting contract at a daily rate based on $2 million a year, plus expenses. Use of IBM aircraft for 20 years. Use of IBM office space for 20 years. Use of IBM's financial planning for 20 years. Use of IBM's security services for 20 years. Lifetime medical coverage. John F. Akers - Retired 1993 Title - Chairman *Years of service - 33* Final salary - $2.5 million Annual pension - $1.29 million Retirement incentive - $2.5 million Award for years of service - $925,000 * Was Gerstner that much more productive and astute than Akers. Hell, no. Like Jack Welch and a ton of other CEO's, they were simply in the right place at the right time. They enjoyed the outlandish benefits of the biggest bull market in history. * Average chief executive's pay: 1980 - 42 times average hourly worker. 2000 - 1,531 times average hourly worker.

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