Friday, April 27, 2012

Lots Wrong With This Picture

I found this bit of news in the Minneapolis Star Tribune. We may be struggling, but CEOs certainly aren't.


Stephen Hemsley, president, CEO

Total compensation: $48,075,614 for the year ended Dec. 31

Salary: $1,300,000

Non-equity incentive pay: $4,940,000

Other compensation: $154,804

Exercised stock options: $28,829,810

Value realized on vesting shares: $12,851,000

Poor Mr. Hemsley's salary has not risen in several years, but his perqs certainly appear to ease some of the pain. I mean, who can live on just $1.3 million a year? And besides, he earned it:

In 2011 UnitedHealth's revenue grew 8 percent to $102 billion, exceeding the $100 billion mark for the first time, and earnings grew 11 percent to $5.1 billion. UnitedHealth also saw growth in enrollment to its various medical plans and now covers 35.6 million people.

The shareholders must be ecstatic.

And you wonder why we can't have single-payer, Medicare-For-All health insurance? Why, that would throw Mr. Hemsley out of work and onto the streets.

I'm retiring to my bed and pulling the covers over my head. Wake me for the revolution.

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