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Tuesday
Oct112011

Obama's 'Jobs Council' Members Collecting Top Pay

Photos.com/Thinkstock(WASHINGTON) -- President Obama's Council on Jobs and Competitiveness meets Tuesday in Pittsburgh, the third time the group of executives will gather.  Sure to be on the agenda will be the country's stagnant labor market, but it's doubtful the council will discuss their own executive compensation, which runs well into the millions annually for many in the group.

The last time the jobs council met was on June 13 in Durham, N.C. after which the panel presented 11 ideas to the president, including promoting small business exports, graduating 10,000 more engineers in the U.S., and building workforce skills in advanced manufacturing.

The 27 members of the jobs council include current and former CEOs, academics and industry leaders, including AFL-CIO president Richard Trumka and United Food and Commercial Workers Union president Joseph Hansen.

The purpose of the president's jobs council is "to provide non-partisan advice to the president on continuing to strengthen the nation's economy and ensure the competitiveness of the United States and on ways to create jobs, opportunity, and prosperity for the American people."

Equilar, an executive compensation data firm, provided the salaries of 12 members of the council, publicly available in their most recent proxy statements, which are usually filed before an annual shareholders' meeting.  The average compensation for 2010 of those 12 members of the council was about $11.2 million.

The totals include figures taken from the company's proxy statement under the "all other compensation" category and stock and option awards as disclosed by the company using their valuation method.

Other salaries of council members not in annual prospectus information but publicly available include that of Richard Trumka, president of AFL-CIO.  His gross salary is $264,827 and benefits and compensation is $18,513 for a total of $283,340, according to the Labor Department.  UFCW president Joseph Hansen has a gross salary of $309,283, official business of $31,641, other compensation of $11,834 for total compensation of $352,758.

Others not on Equilar's list include UBS CEO Robert Wolf and former Procter & Gamble CEO Alan G. Lafley.  As director of General Electric, Lafley earned $50,000 in fees, $176,246 in stock awards and $56,200 in all other compensation for a total of $282,446 in 2010, according to Fortune.

Here are the salaries of 12 of the 27 members of the president's jobs council with publicly available prospectus information, according to Equilar:

1. Brian L. Roberts, CEO: $28.2 million Comcast (CMCSA), internet provider and cable operator
2. Kenneth I. Chenault, CEO: $16.3 million American Express (AXP), financial services company
3. Paul S. Otellini, CEO: $15.5 million Intel (INTC), technology chip maker
4. Jeffrey R. Immelt, CEO: $15.1 million General Electric (GE), energy, technology, consumer products and financial services company
5. W. James McNerney Jr., CEO: $13.8 million Boeing (BA), defense and aerospace contractor
6. Lewis Hay, III, CEO: $11.5 million NextEra Energy (NEE), clean energy company
7. Ellen J. Kullman, CEO: $11.3 million DuPont (DD), chemical company
8. Ursula M. Burns, CEO: $10.6 million Xerox (XRX), technology and document management company
9. Roger Ferguson, Jr., CEO: $8.6 million TIAA-CREF, financial service non-profit
10. Antonio Perez, CEO: $3.5 million Eastman Kodak (EK), photography and imaging equipment company
11. Gary C. Kelly, CEO: $3.3 million Southwest Airlines (LUV), airline
12. Richard D. Parsons, board chairman and former CEO: $232,500 Citigroup (C), financial services

Copyright 2011 ABC News Radio

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