Millions Paid to Dead CEOs: Outrage Over 'Golden Coffins'

These are all publicly traded companys, Stop investing in them people. Do your research, If a company does't disclose its plan for exiting excutives Don't give them your money or your business if you can help it. Greed buildt this country! We have become too lazy to read the fine print on many of business deals, then complain when we get took.

Agreed, this practice is an outrage and greedy, high-powered people exist. However, capitalism is not all about greed. The more people denounce capitalism and seek government regulation, the more they sound like Marx/Lenin. We've seen how the socialist story ends, and it's not pretty. So while capitalism is not perfect, it's better than the alternative.

That's funny. When I saw the stiffs from the oil and mortgage companies testifying before congress I thought they were dead already!

This is rediculous... but so are the multi-million dollar pensions the county workers get here in Milwaukee... BUT, since these are paid for by the COMPANY, not TAXPAYERS, the only people who should be pi$$ed off are the shareholders.... The ONLY thing the government should do is make the BOD reveal this so the shareholders can decide if this crap is appropriate or not...

It is the good old boys on the corporate boards who vote for these things and "you sit on my board and I'll sit on yours" that keeps these things going. The mutual fund managers are as responsible as well for continuing to vote for these board officers and managers. How about a "little guy" like me on the board. Never happen.

Well said, Karl C. And it's just too bad than when companies go south due to the bad choices of these "crooks," it's the little people with small salaries that are let go, rather than the culprits, the CEO's who made the wrong decisions and mistakes, and sometimes even the "crimes."

I find it interesting that many of the posters here seem to think the solution is for the government to step in and rectify the problem. Here's the "problem" with that solution: 1. No laws have been broken, taxes are being paid and the funds invovled have nothing to do with the government. It's all legal, private money. 2. The money belongs to the corporation and the shareholders. It's theirs to do with as the corporation pleases. It's none of our business unless we are stockholders. Does the phrase MYOB mean anything??? 3. This practice has been going on for decades. Why the uproar now? 4. CEO's are paid what the Board of Directors thinks they are worth. Do you now want the feds deciding how much a person should be paid (whether they are the CEO or a lowly "water boy"). The "minimum wage" is bad enough. God forbid they start dictating the salaries of executives, managers and other corporate staffers. By the way, the governement "solution" will ultimately be to attempt to implement and manage a new tax on the post-death earnings. And guess what they will do with the new-found moeny? They will spend it on more idiotic government programs that do nothing but create more bureaucracy.

ridiculous abosolutely. even more ridiculous is you work hard to leave your kids and wife with some sort of security in income and after you hit a certain dollar amount the govt takes away 40% at your death. this includes property value. so if your a rancher who has minimal cash, but 1000's of prime acreage to do what you do which is raise cattle. when you die...the govt sees that as millions in cash. so this means either you borrow all those millions to pay off the estate taxes or you sell off your land, and give up your way of life. this is fair? ? the govt sucks, and congress is as stupid as they come.

Time to sell all the stock in these companies, drop the share price to nothing, then maybe they will think about enhancing shareholder value.

Karl C are you mad? If you tax pay over $1M at 100% these companies will just leave our country where they can pay market rates for CEOs. If the companies move, their employees and the company itself wont pay taxes, how would the government support your socialist agenda then?

Damn straight! What a bunch of crooks. This really pisses me off.

For $300 mill I'd deal with all the shame and I'd gladly testify to congress how they can lick my boots. All these crazy schemes were born from politicians trying to limit compensation. It takes congress years to pound out "limits" but it only takes a few minutes to maneuver around them.

What's worse: CEOs getting 'death benefits', or the tax code that allows 'death benefits' to change a CEOs tax situation?... I don't have a problem with CEOs making a lot of money though. Nobody was complaining about CEO pay packages when the market was hot.

This country needs to take back the power the founding fathers envisioned for us. Clean house! Clean senate too! These folks have created their own elite sub-class that is so removed from the average persons needs that they will never address any problems like this. It will soon be a 2 class society. The haves and the have nots. Better buy your guns now. You will need them to defend your small interests from the starving masses.

As a top executive of a US company, what me and my employer agree to in compensation has nothing to do with Congress, fairness for all Americans, greed or any other concept noted. We donate a substantial amount of money each year, we pay a substantial amount in federal, state and local sales taxes each year. And we contribute to the economy by growing our businesses and offering jobs. The few million I am paid is nothing compared to the benefits over time. Not that some change isn't needed but it is not reasonable to attribute this to greed and immorality without also tallying the common good that comes from an individual's success. By the way, no one is stopping you from success - if you are so inclined to pursue it.

TRUE! THESE ARE PUBLICLY HELD COMPANIES, LIKE IT IS A PUBLICLY HELD GOVERNMENT. IF THE SHAREHOLDERS OF A CO. LIKE CITIZENS OF A D DEMOCRACY, DO NOT VOTE/CARE, THEN THE BOARD AND CONGRESS, HAVE NO REASONS TO EITHER.... DUE DILIGENCE IS PAST DUE PEOPLE!!!!

So? These imperial CEOs' relatives have to have some money to pay the minions that will be required to build the pyramids in which to bury and honor these famous and revered demi-gods of capitalism, correct?

u guys are dumb, if the govt steps in, that means the rich be poor, and the poor be even poorer. so dumbbbb... its their company they do what they like with their money that they have. why dont the govt just put a limit on how much anybody can make or have in their entire life. so ridiculous looking at some of the comments here. u guys just jealous so get over it. if u were ceo u would do the same too.

I'm sorry. These guys are not supermen. I can't believe that any one person makes that big a difference. Every highly paid Director, I've ever some in contact with, declares a project a '"SUCCESS" when it is implemented, leaves to take a new Directorship at an even higher salary, and leaves behind a couple of years of clean-up to get the "successful" implementation to work. Being a highly paid executive is a product of Public Relations in many cases.

There are three types of corporate greed: Corporate greed - I can accept but am not happy with it. Excessive corporate greed - needs to be stopped by the consumer / take away the tax breaks. Pig corporate greed - this is where we are now. Need to rise up and stop. Pity the poor banks with their foreclosure problems. They are choking on their own pig greed.