Monday, March 14, 2011

GE's Immelt takes first bonus since 2007

Glad I said "Government pay.
From Reuters:
General Electric Co (GE.N) paid Jeffrey Immelt a $4 million cash bonus in 2010, following two years when the chief executive of the largest U.S. conglomerate declined a payout in the face of sliding profits.

The payout, which boosted Immelt's total compensation to $21.42 million from $9.89 million in 2009, came in a year that the world's biggest maker of jet engines and electric turbines broke a two-year profit slump and saw its shares rebound....MORE