Wicked Executives Take Huge Personal Bonuses Despite Their Company’s Massive Losses
November 16, 2012 - 2:47 pm
Did I say “company?” It should say “service.” As in “US Postal Service.” Which loses money to the tune of $16 billion a year.
Postmaster General Patrick Donahoe, for instance, earned a base salary of $276,840, but even without a bonus or incentive payout, his overall compensation came to $512,093, compared with $384,229 in 2011, according to regulatory filings.
In addition, the Postal Service’s chief human resources officer, Anthony J. Vegilante, received $60,000 in retention bonuses for fiscal 2011 and 2012 on top of his $240,000 annual salary, filings show. Nonetheless, Mr. Vegilante’s overall compensation for 2012 dipped to $363,002, compared with $364,667 the previous year.
A competent president would fire the lot of them. Too bad we don’t have one of those. The president we do have is hellbent on making your health care function more like the postal service.