Seeking Alpha

Nabors Industries' chief Petrello was highest-paid CEO in 2013

  • The highest-paid boss in America may come as a surprise: It's Nabors Industries (NBR -0.4%) CEO Anthony Petrello, who made $68.3M in 2013 as a result of a $60M lump sum the company paid him to buy out his old contract.
  • Since becoming CEO in Oct. 2011, NBR shares are up ~180%, pretty good but not good enough to escape shareholder outrage; earlier this year, NBR finally agreed to change its corporate governance and compensation practices.
  • Freeport McMoRan (FCX) CEO Richard Adkerson also received a one-time payment of $36.7M to renegotiate his contract; his $55.3M in total pay made him the third-highest paid CEO among S&P 500 companies last year.
  • The second-highest paid CEO was CBS' Leslie Moonves of CBS, whose total compensation rose 9% to $65.6M; media industry CEOs were paid handsomely, as usual: Viacom’s (VIA, VIAB) Philippe Dauman made $37.2M, Disney’s (DIS) Robert Iger made $34.3M, and Time Warner's (TWX) Jeffrey Bewkes earned $32.5M.
  • The head of a typical large public company earned a record $10.5M, up 8.8% from $9.6M in 2012, according to an AP pay study.
Comments (9)
  • Clayton Rulli
    , contributor
    Comments (2465) | Send Message
    redic. Now lets look at the average worker
    28 May, 12:37 PM Reply Like
  • JPierce126
    , contributor
    Comment (1) | Send Message
    Large public co CEO's pay is up ~9% YoY, meanwhile minimum wage hasn't seen an increase in 5 years...yeah, I'd prob be upset working at McDonald's too.
    28 May, 12:46 PM Reply Like
  • duhaus
    , contributor
    Comments (308) | Send Message
    Do they deserve that kind of $ ? Hard to believe it's just. While it does smart to compare that to my 8hr/day poverty wages I am comforted (as a shareholder) that Mr. Iger's at least doing a great job over at #DIS.
    28 May, 01:25 PM Reply Like
  • darnoc111
    , contributor
    Comments (313) | Send Message
    Maybe CEO pay should be tied to the dividend paid by that company, as well as the price of the stock. Shares should be bought through call options and those who get these options from the company should have to pay the strike price, not the shareholders. Along with this the CEO's should get a base pay. To me the best way for shareholders to reward a good CEO is for that CEO to participate in the growth of the value of the company, not the growth in pay that they can negotiate from the board of directors. The real question is how can shareholders make this happen? As for minimum wage I think many who find themselves trapped in low wage jobs need a way to better educate themselves and move up and out of go nowhere jobs. McDonalds use to be a job for high school kids and senior citizens, not for a career, unless you went into management. Higher minimum wages will only kill off small businesses, mom and pop, who can not raise prices enough to cover the higher wages.
    28 May, 01:30 PM Reply Like
  • duhaus
    , contributor
    Comments (308) | Send Message
    "Higher minimum wages will only kill off small businesses, mom and pop, who can not raise prices enough to cover the higher wages." That's complete, unsubstantiated nonsense. "Mom and Pop" stores (if they still exist) are being driven into extinction by huge, chain store corp's and their ruthless undercutting while using the same self-serving propaganda that you just used . . pretty ironic. "As for minimum wage I think many who find themselves trapped in low wage jobs need a way to better educate themselves and move up and out of go nowhere jobs." Another "I said it so it's true" fallacy. As easy as that huh ? Care to come up with any actual realistic details to support that statement ? For many, many people working themselves to death at a low paying job (if they can even find one) and desperately trying to support themselves and their family leaves little to no options except staying on the treadmill . . exactly like big $ wants it to be. If you're lucky enough to not be in this group then just be thankful and have empathy for those that are instead of trying to put the blame on the people suffering to make yourself feel better. We can watch the news entertainment talking heads if we want to hear that garbage.
    30 May, 10:29 AM Reply Like
  • darnoc111
    , contributor
    Comments (313) | Send Message
    Sorry you are so blind to what is actually going on. As for running on the treadmill I have been there and I can tell you that you and most can escape it but it is not easy, especially when you place blame on everything but yourself. True Mom and Pop businesses have been hurt by large chain stores but the ones that survived have found niches that are not served by the big boys and this is where they can prosper. But higher Minimum wages will drive them under sure as much as the large chains have. Have you ever asked why those who are in low paying jobs have not tried to learn a trade or taken risk will the small amount of money they make and started a business? How is it that foreigners come here with nothing and work day and night and start businesses that soon become prosperous? And do not give the usual BS that the government gave them the money because that is just not true. If someone can come to this country with NOTHING and in a few years become rich then what is wrong with our people? Another big job destroyer is government regulations that regulate practically everything a business can do, driving up costs and putting only but the largest ones out of business. DO you cry out for less from government or do you want only more? You are the problem and those like you since you are too blind to see the damage being done by those you support. I have lived the AMERICAN dream but now all I hear is many Americans crying how hard things are for them as they drive off in a car to their subsidized home eating subsidized food and health care while watching their cable TV and talking on their cell phone. Most people in the 60's had it harder than the average welfare recipient does today but they never complained they went out and took risk and started businesses or learned something that made them more valuable to an employer. Children started working young and learned the value of saving and thrift unlike those now. It is easy to complain but it is harder to actually try to pull yourself up from the bottom. And I will tell you that not everyone can do it but it can be done! It takes sacrifice and working 16 hours a day sometime 7 days a week. I will not waste any more of my valuable time on this subject since more than likely it goes to deaf ears. I hope that all who read this is somehow encouraged to take risk and ask government for less and sacrifice for their own future as well as our country, for if we continue down the current path we will be no better than an other communist country in this world.
    30 May, 12:24 PM Reply Like
  • darnoc111
    , contributor
    Comments (313) | Send Message
    I want to say one more thing.The minimum wage is not about helping those who make little and find themselves trapped in poverty. What it is about is government being able to collect more taxes without raising taxes. A $15 hr. minimum wage will push those who pay no taxes into higher tax brackets and not only will prices on all things rise to compensate for the higher wages but now those at the bottom will pay taxes and will actually be worse off than before. Anyone who thinks that those with skills will work for the same money as before are just fooling themselves because all employees will want raises to compensate for a higher minimum wage. This in turn will increase tax revenues and those who are running the country will just spend and waste our hard earned money as they always have. But now those on the bottom will find themselves even worse off. Also why do you think the fed is busy trying to create inflation? If you lived in the 70's you know that the fed raised interest rates to over 21% to stop inflation and here we are again going down the same road as before. This is the only way government can afford to pay for their over spending, we will pay dearly for this!!
    30 May, 05:39 PM Reply Like
  • badbernanke
    , contributor
    Comments (231) | Send Message
    CEO's run the companies for their benefit, not that of the shareholders. With interlocking directorships, membership on compensation committees that reflect good old boy networks to inflate compensation, etc., shareholders can expect to continue to be left behind.
    28 May, 03:35 PM Reply Like
  • 25348853
    , contributor
    Comments (24) | Send Message
    And for the fcx ceo to get that pay, with a dispute in Indonesia going on still and impacting their income/margin is ridiculous. Plus the fact the stock has traded side was for a year. I am for stock performance pay.
    Lol min wage flat to slight increase and ceo pay up 9-10 yoy jeez they earned it right?


    But dis ceo did great i support his increase he did earn his pay. has a former shareholder.
    29 May, 11:09 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: