It ain't just the CEOs
We blogged last week about the obscene compensation packages collected by the chief executives of the Portland area's public companies. Here's another study on the subject, by the Portland Business Journal, which shows that the heavy, heavy rain also falls on the seconds, thirds, and fourths in command. Heck, I even know two of the guys in the top 40!
They also report on corporate directors, here. It looks like $200,000 a year is the going rate to sit on a high-end board around here. Peter Kohler picked up a nice $168,000 from Standard Insurance. Way to go, Doc! And thanks for the SoWhat District.
| Posted at 9:46 AM | Permalink |
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Comments (7)
Scott Gibson is one of the most popular Directors, on TQNT, NWN, PXWL, RSYS, VRGY but no longer OHSU.
Posted by Harry | September 7, 2010 4:09 PM
The fees paid to the various Directors of Cascade Bancorp are the most outrageous to me. This is the parent company of Bank of the Cascades, currently operating under a Cease and Desist order from the FDIC and at death's door...but I guess they need to pay all their Directors these fees to tell management where they went horribly wrong.
Posted by ron | September 7, 2010 5:53 PM
Jack, are the numbers public for Executive Directors of nonprofits? That would be news breaking to do a piece on the gross pay of nonprofit EDs who hide behind the nonprofit's mission in order to justify their gross pay in organizations who have to run off of volunteers because the ED doesn't feel proper making less than 6 figures.
Posted by Ryan Voluntad | September 7, 2010 11:07 PM
That information can be compiled by searching on guidestar.org. But I know of no systematic study of nonprofit CEO salaries at the local level -- or the national level, for that matter. Readers?
Posted by Jack Bog | September 8, 2010 12:10 AM
I was asking because there are enough article and blog posts on gross CEO pay to fill the Empire State Building. Justly so.
This would go against the grain and piss many Progressives off if someone compiled local data on the average Executive Director compensation for nonprofit EDs in the Portland Metro and listed them with the percentage of how much their organization depends on volunteer work.
Folks are under the assumption nonprofits are doing the work government cannot afford to and the private sector finds no profit in. Basically, nonprofits can do no wrong. Having met more than a few nonprofit EDs, they strike me as quite similar to CEOs of any company and hospitals in particular.
I would include hospital CEOs under the umbrella of nonprofit Executive Director compensation.
Posted by Ryan Voluntad | September 8, 2010 3:36 AM
It would be one thing if the directors actually contributed something to the business.
But most of the time they are highly paid rubber stamps that do nothing but show up at board meetings to vote for whatever the CEO presents to them.
That's why they are on these boards. Not to contribute anything but to go along with anything the CEO wants to do.
And on certain boards, such as Wasco Electric Co-operative, we cannot vote out these lapdogs even if we wanted to because rigged board of directors elections are LEGAL. See www.reformwascoelectric.com for more information
Posted by Britt Storkson | September 8, 2010 6:51 AM
There’s a good national CEO summary report on charities (a portion of the nonprofits), with an interesting section on nepotism.
http://www.charitynavigator.org/__asset__/_etc_/CN_CEO_Compensation_Study_2010.pdf
The report links to a page that drills down to metro areas (including Portland), but you gotta pay to get data for individual organizations,
http://www.charitynavigator.org/index.cfm?bay=studies.metro.main&categoryid=15
Posted by Grady Foster | September 8, 2010 7:25 AM