Seeking Alpha

Mooves, Redstone enjoy bumper pay packets at CBS

  • CBS (CBS) CEO Leslie Moonves received a 7.7% increase in his compensation to $66.9M in 2013, taking his total pay over three years to almost $200M.
  • Moonves latest package included a basic salary of $3.51M, a bonus of $28.5M, stock awards of $26.5M and options of $5.85M.
  • Sumner Redstone, CBS's 90-year-old chairman and controlling shareholder, received $57.2M, up 83% from the previous year. Redstone's compensation included a $10M bonus and a $45.4M alteration in the value of his pension. Redstone also earned $36.2M as Chairman of Viacom (VIAB), which he controls as well.
  • The pay increases at CBS come after 2013 net profit climbed over 19% to $1.88B, and the company's stock price jumped 68%.
This was corrected on 04/13/2014 at 06:50 AM.
Comments (10)
  • jperello001
    , contributor
    Comments (16) | Send Message
     
    Wow. Talk about income inequality! ;)
    13 Apr, 09:17 AM Reply Like
  • pcaflisch
    , contributor
    Comments (150) | Send Message
     
    I'm as much a free market capitalist as anyone. I'm a libertarian and despise the resolutions of problems with more government regulations and/or new agencies.

     

    However, I am left speechless against the arguments of socialism when it comes to the obscenities of CEO pay. In my 2 cents worth of the same value, it is my opinion this one issue does great harm to, and distracts from, the overall contributions of capitalism to the increasing well being of mankind. The greed of these people is staggering. I'm not sure why there is not a greater effort by stockholders to rein in this practice.

     

    And no, I do not have an answer to what the "right" amount of pay is fair. It's kind of like the Supreme Court justice who stated he could not define what pornography is but knew it when he saw it! LOL
    13 Apr, 02:27 PM Reply Like
  • Jake2992
    , contributor
    Comments (825) | Send Message
     
    So you recognize the ridiculousness of obscene income inequality, but you don't want to use the only tool available, government, to correct it, because the same benefactors of wealth inequality told that messing with the "free market" is bad.

     

    Don't worry. Eventually some clever lawyer will come up with a non solution to this problem and you will buy into it, vindicating your views and never having to admit you were just wrong.
    13 Apr, 03:39 PM Reply Like
  • pcaflisch
    , contributor
    Comments (150) | Send Message
     
    Is that the party line now comrade? Government is never the only the tool to correct a problem.
    13 Apr, 04:47 PM Reply Like
  • Mikie713
    , contributor
    Comments (230) | Send Message
     
    Well then, give us another tool to correct this problem. Unless you don't see it as a problem.
    13 Apr, 04:58 PM Reply Like
  • pcaflisch
    , contributor
    Comments (150) | Send Message
     
    when enough shareholders begin to feel it is a problem it will be addressed. Not sure that will happen soon.
    13 Apr, 05:38 PM Reply Like
  • redarrow5150
    , contributor
    Comments (990) | Send Message
     
    Hard to do when Redstone along with Moones ownes a vast majority of the shares.
    13 Apr, 11:50 PM Reply Like
  • DrGarnicus
    , contributor
    Comments (87) | Send Message
     
    It's there for the taking people. It's not like these men just spent all day in their boxers.

     

    At this point, it's about ethics and morals. Always will be.

     

    Nobody is stopping these men from accumulating this much wealth. If not them, then someone else. Again, it's out there for the taking, but one has to ask themselves how much their soul is worth.

     

    That's the question everyone has to face at some point or another.

     

    It's the abyss metaphor given to Bud in Wall Street. Do you really wanna go in there? These guys don't mind. This is their compensation.

     

    Stop bitching!
    14 Apr, 10:18 AM Reply Like
  • Mikie713
    , contributor
    Comments (230) | Send Message
     
    It's there for the taking. That's right out of Presidential aspirant Herman Cain's playbook. And just as warped.
    14 Apr, 10:23 AM Reply Like
  • DrGarnicus
    , contributor
    Comments (87) | Send Message
     
    Don't forget the other Viacom shrill, Phillipe Dauman (sp) Check out his compensation.
    14 Apr, 10:45 AM Reply Like
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