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 What are the odds that the U.S. economy will head into a recession in 2008?Better than 75% 28% 50% to 75% 17%25% to 49% 11%Less than 25% 8%A recession is already underway 36%March 04, 2008 Comp Roundup: Whirlpool's Fettig paid $13M for 2007, GE's Immelt $19.6MWhirlpool Corp. CEO Jeff Fettig received a compensation of $12.94 million last year, the Associated Press reports.
Fettig’s pay reflects a 36-percent increase over that of 2006, when he received $9.54 million. Last year, Fettig, also chairman of Whirlpool, led the company to a 48-percent profit increase despite higher energy and materials costs. He also earned a salary of $1.8 million, a performance-based cash bonus of $6.96 million, and received $138,226 in other compensation, including $95,429 for personal use of company aircraft, according the AP.
Additionally, Fettig’s restricted stock awards and options were estimated at about $4.66 million when issued in February of last year.
Meanwhile, General Electric CEO Jeff Immelt's pay jumped by 9.7 percent in 2007 to a total of about $19.6 million in 2007, reports Bloomberg.
According to a proxy statement filed with the Securities and Exchange Commission, Immelt’s pay last year included a salary of $3.3 million, $5.8 million in bonus and $396,267 in other compensation, as well as other plan-based awards valued at about $4.7 million. In 2006, Reuters reports, he received $8.8 million in salary, bonus and other pay, plus $6.3 million in plan-based awards.
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Comments:
Those early lessons made a lasting impact, as evidenced by Miller's career choice--marketing--and what he's accomplished as a vice president at Whirlpool Corp., the $7.3 billion appliances manufacturer in Benton Harbor, Mich. In fact, Miller has made it something of a mission to have Whirlpool customers feel the same passion about their dishwashers and refrigerators that he felt about his first pair of Converse sneakers.
June 26, 2008 11:15 AM