Corporate Greed Runs Amuck at Liberty Mutual
By Steve Kinsman, 19th Apr 2012 | Follow this author
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Posted in WikinutNewsBusiness
Liberty Mutual's CEO is very well paid, to say the least.
Your tax money keeps the bigwigs at Liberty Mutual in the clover.
Boston's Liberty Mutual insurance company got tax breaks last year from the state of Massachusetts and the city of Boston totaling $46.5 million, while its CEO, Ted Kelly, just recently retired, was paid a compensation package in salary, stock and bonuses worth upwards of $50 million. That's just under a million a week, $192,000 a day. $24,000 an hour. Members who sit on the board at Liberty Mutual are required to attend four board meetings a year, for which they are paid $200,000 a year, plus expenses. In a private hangar just outside of Boston with heated ramps surrounded by a razor-topped barbed wire fence sit five Gulfstream jet aircraft, each worth thirty million dollars.
Is not something wrong with this picture?
Preview photo from commondreams.org
Comments
20th Apr 2012 (#)
Ted Kelly is such a **^^&$^
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20th Apr 2012 (#)
I agree. Thanks for commenting Alicia.
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20th Apr 2012 (#)
I'm aghast. Incredible! Thank you, my friend, for sharing.
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20th Apr 2012 (#)
Incredible indeed. Is there anyone who's worth a million dollars a day?
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25th Apr 2012 (#)
i work for liberty mutual and this makes me sick in the stomach.
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