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As the company sends out there their so called bargaining reports and sings the blues about no cash and what the rank and file should give up, ask them how they can afford these expenditures and perks. Did we mention that AT&T earned $12.9 billion in 2008, up from $12 billion in 2007?
AT&T Regulatory Filing-CEO Randall Stevenson is doing just great. AT&T said in the filing that Stephenson pulled down a $1.4 million salary in 2008, a 22 percent improvement over 2007, but didn't get a bonus. In 2007, Stephenson's cash bonus was $4.5 million. For 2008, he accumulated more than $376,000 in perks, including nearly $142,000 in relocation expenses, $83,000 for personal use of AT&T's corporate jet, and $14,000 in financial counseling. The biggest chunk of Stephenson's pay package came in the form of options and performance-based stock incentives, which totaled $13.2 million for the period. Stephenson had $4.8 million worth of stock vest in 2008. He didn't exercise any options, according to the filing. In 2007, Stephenson's pay was $18 million, according to calculations by The Associated Press. For all of 2008, AT&T earned $12.9 billion, up from $12.0 billion the year before. Sales rose to $124 billion from $119 billion. The AP's calculations of total pay includes salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations exclude changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC. Send A Message Here: http://www.unionvoice.org/campaign/m58380/g5ee322763577x? |
