Executive Compensation

Boeing CEO Dennis Muilenburg Fired Over 737 MAX Disasters, Keeps $62 Million Despite 346 Deaths

2019-12-23 00:00:00 +0000 UTC | Importance: 9/10

Boeing’s Board of Directors fired CEO Dennis Muilenburg on December 23, 2019, over his handling of the 737 MAX crisis that killed 346 people in two crashes. Despite presiding over the deadliest corporate safety scandal in aviation history, Muilenburg departed with approximately $62 million in …

Dennis Muilenburg Boeing Board of Directors David Calhoun 346 crash victims Victims' families boeing executive-compensation impunity 737-max corporate-crime +1 more

Stumpf Resigns as CEO, Retains Over $130 Million in Compensation

2016-10-12 00:00:00 +0000 UTC | Importance: 8/10

Wells Fargo CEO John Stumpf resigns effective immediately, ending his 34-year career at the bank amid the fake accounts scandal. Despite calls from Senator Elizabeth Warren and others for him to forfeit his compensation and face criminal charges, Stumpf departs with approximately $130-137 million in …

John Stumpf Wells Fargo Board Timothy Sloan corporate-fraud wells-fargo executive-compensation corporate-accountability

Wells Fargo Claws Back $41 Million from Stumpf's Compensation

2016-09-27 00:00:00 +0000 UTC | Importance: 7/10

Following intense Congressional pressure and public outrage, Wells Fargo announces that CEO John Stumpf will forfeit $41 million in unvested stock awards and his 2016 salary and bonus. The clawback represents the board’s first attempt to impose financial consequences on senior leadership for …

John Stumpf Wells Fargo Board corporate-fraud wells-fargo executive-compensation

Northrop Grumman Pays $11.4 Million for Illegally Billing Executive Compensation to Federal Contracts

2015-06-18 00:00:00 +0000 UTC | Importance: 8/10

Northrop Grumman Corporation paid the United States $11.4 million to settle government claims that it violated a 2002 settlement agreement with the Defense Contract Management Agency by improperly charging federal contracts for deferred compensation awards to key executives, demonstrating how …

Northrop Grumman Department of Justice Defense Contract Management Agency Defense Contract Audit Agency defense contractors fraud false claims act executive compensation contractor abuse +2 more

Federal Reserve Provides $85 Billion Emergency Loan to AIG, Eventually Growing to $182 Billion in Total Taxpayer Commitments to Bail Out Insurance Giant That Gambled on Credit Default Swaps, Followed by $165 Million in Executive Bonuses Paid to Employees Who Caused the Crisis

2008-09-16 00:00:00 +0000 UTC | Importance: 10/10

On September 16, 2008, just one day after allowing Lehman Brothers to file for bankruptcy, the Federal Reserve provided an $85 billion two-year emergency loan to American International Group (AIG) to prevent the insurance giant’s collapse and contain spreading financial contagion. In exchange …

American International Group Federal Reserve Ben Bernanke Timothy Geithner Henry Paulson +2 more financial-crisis bailout too-big-to-fail regulatory-capture executive-compensation +1 more

WWII Corporate Profits Soar 113% as Cost-Plus Contracts Enable Massive War Profiteering

1940-01-01 00:00:00 +0000 UTC | Importance: 8/10

Corporate profits explode during WWII mobilization, with the largest 200 corporations more than doubling annual profits from $576 million (1936-39) to $1.225 billion (1940-44) - a 113% increase. Cost-plus contracting allows companies to inflate costs with lavish executive salaries while earning …

U.S. corporations General Motors Steel industry War Industries Board Charles E. Wilson war-profiteering corporate-power defense-industry executive-compensation cost-plus-contracts