A Taxing Exercise

In Article 30 of this Volume XXVIII, we named International Paper CEO John Faraci as one of the nation’s favored elite, but he was a piker. He was at the very bottom of the list of spongers published by the Institute for Policy Studies. So for those of you out job-hunting – or trying to scrounge up enough to pay Uncle Sam’s tax bill – try to make some sense of this:

Company CEO Compensation Corporate 2010 Income Tax
1. Stanley Black
& Decker John Lundgren $ 32.57 million -0-
2. Ford Alan Mulally $ 26.52 million -0-
3. Chesapeake
Energy Aubrey McClendon $ 21.04 million -0-
4. Aon Gregory Case $ 20.78 million $ 16 million
5. Bank of New York
Mellon Robert Kelly $ 19.38 million -0-
6. Coca Cola John F. Brock $ 19.11 million $ 8 million
7. Verizon Ivan Seidenberg $ 18.12 million -0-
8. Dow Chemical Andrew Liveris $ 17.74 million -0-
9. Prudential John Strangfeld $ 16.19 million -0-
10. Ameriprise James Cracchioio $ 16.25 million -0-
11. Honeywell David Cote $ 15.22 million -0-
12. General Electric Jeff Immelt $ 15.19 million -0-
13. Alleghany
Technologies Patrick Hassey $ 14.98 million -0-
14. Mylan
Laboratories Robert Coury $ 14.98 million -0-
15. Capital One Richard Fairbank $ 14.85 million -0-
16. Wynn Resorts Steve Wynn $ 14.62 million -0-
17. Marsh/McLennan Brian Duperreault $ 14.04 million -0-
18. Boeing Jim McNerney $ 13.77 million $ 13 million
19. Motorola
Solutions Gregory Brown $ 13.73 million $ 7 million
20. Nabors Industries Eugene Isenberg $ 13.54 million -0-
21. Qwest Edward Mueller $ 13.45 million -0-
22. Cablevision James Dolan $ 13.32 million -0-
23. Motorola
Mobility Sanjay Jha $ 13.02 million $ 12 million
24. eBay John J. Donahoe $ 12.38 million -0-
25. Internat’l Paper John Faraci $ 12.30 million -0-

So we owe Mr. Faraci an apology. We had no idea that he was so far down on the list. If he drops down any lower he might soon find himself listed among the 45 million unemployed in this country.