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Aug 22, 2012

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Comments

Ben Freeman

Thank you all for your comments.

James: Thanks for more fully elaborating the executive compensation cap. While I am aware of the regulation (see the hyperlink I placed over "taxpayers are paying"), I opted not to include a complete explanation of it here. Thus, your comment - which is completely accurate - is a most welcome addition. It should also be noted that in addition to the approximately three-quarters of a million dollars of compensation taxpayers can be directly billed for, even more executive compensation can be paid for with the profits from these government contracts. Thus, even without directly billing the government for these CEO's, taxpayer money can potentially go towards financing all of these lavish compensation packages.

Thanks again for your comment.

Julie Carr

Much as I don't like just giving people welfare money, I see little difference in giving these CEO's this kind of money and some poor welfare queen a handout. NOBODY is worth 21 million dollars. NOBODY. I don't care what they do or don't do. The middle class is getting fleeced so badly it isn't even remotely funny. Rich folks are ripping us off for waaaaaay more money than poor folks. Then, they hire lobbyists to keep the gravy train rolling into their depot. Pathetic.

Jay Sack

POGO looses some of its credibility when it only reports on the sensational side of the story. One of the comments was right on target, Defense salaries are capped at $700+. Therefore, ranting and raving about exectuve compensation from a defense budget stanpoint is pointless. Come on POGO get your act togerther.

roy

Mr Freeman:
Where do you think the "stockholders" get there money? The government contracts!! So they waste more of our tax dollars on accountants to hide there fraud.

Evelyn McMullen

Why do those Congress budget people always want to sock it to the active duty and retired military? Where cost-cutting should be is these obscene salaries of these CEO contractors!

Do the budget fixers not KNOW what's going on?

Nina Diamante

Remove Pentagon Contractor CEO and don't pay him 1 cent more than $25,000 per annum. Cut Pentagon Budget to $0.00. Make friends with other countries, killing doesn't make friend, it makes the world hate Americans. $0. to the Pentagon. Stop stealing from the American people and making a huge deficit.

Nina Diamante

James Condrey

Mr Freeman,

Are you aware of Federal Acquisition Regulation (FAR) 31.205-6(p) and the Office of Management and Budget (OMB) Section 39 of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 435) that limits the total compensation of the top 5 executives for each business unit within a company like Lockheed-Martin, Boeing, etc. This contract clause only allows $763,029 for 2011 (I don't have the 2012 number handy) of their total compensation in the overhead rates paid by the US Government for their contracts. What this clause does, is to say that the company can pay their executives whatever they want, but the Government will only allow that amount in the development of overhead rates.

So, although I agree with you that the compensation for these executives might be hefty, it is the investors paying for most of these tabs, not the tax payers.

Deepakromney

Defens--you are needlessly tormenting yoself. Time to stop concentrating on waste in the fifth place right of the decimal. Instead, look and safe your ire for gigawaste programs, like the F-35, rebuilding nukes, and USDA crop supports for corporate farmers. All the carping on relatively small, minute stuff simply deflects attention. Also, if you are as pained as you sound, you ought to quit, unless u believe that your work is critical to national defense and can only be done by you. Good luck in any case.

Dfens

These CEO's make these lavish salaries despite the fact that none of their companies have any defense programs that are on-schedule or on-budget. I calculated that the CEO for the defense contractor I work for makes more money taking a crap than I make in a week of slaving over a hot keyboard and mouse. In fact, the main reason they make so much money is due to their ability to interfere with the work employees such as myself do. The harder it is for me to do my job, the more money the company makes. The happier the stock holders are. The more money the CEO makes. Seriously, the only people losing here are the US taxpayers and those poor sorry bastards who actually put their lives on the line so we can not give a damn where our tax money is going nor to whom it is going.

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