08-12-2015, 04:20 AM
Don't blame the retiree trying to live on their savings. Thirty years ago the dividends on 200 shares of Hawaiian Electric would pay your electric bill for the year, now it might just pay for two months. The stock price is about the same now as then so 400 shares would buy a new car then, while today you would need 800 shares to buy a new car.
Stockholders get the crumbs left on the table after the Executives have had their fill. I assume NextEra is worse, I couldn't find those numbers.
HONOLULU (HawaiiNewsNow) -
"Hawaiian Electric Industries Inc., the parent of the Hawaiian Electric Company, or HECO, recently received an "F" grade for its CEO's salary, the highest in the state.
Glass, Lewis & Co., a proxy advisory firm that's closely followed by Wall Street and institutional investors, said the $5.8 million paid to CEO Constance Lau last year was more than what similar sized utilities paid their bosses.
"Overall, the company paid more than its peers, but performed worse than its peers," the report said. "The company has been deficient in linking executive pay to corporate performance."
Pay is an expense so the company can show a loss and the CEO is still getting rich. In fact often the CEO gets an incentive bonus even when there is a loss. Lobbying is also a deductable expense by the way.
An old script from a familiar opera:
CEO to PUC: " We need a rate increase because our costs went up (my pay doubled) to remain profitable."
PUC: "DUH? OK."
OH, and then there is this.
"HEI CEO Constance Lau would receive $10.6 million in cash and other benefits if she is let go from the company, with or without cause, within two years of the merger, according to her change-in-control agreement filed with the U.S. Securities and Exchange Commission. "
http://www.civilbeat.com/2015/01/hawaiia...tera-deal/
Of course I am sure this had no influence on her enthusiasm for the merger, but some inquiring minds might be suspicious.
"Fire me; PLEASE!"
Stockholders get the crumbs left on the table after the Executives have had their fill. I assume NextEra is worse, I couldn't find those numbers.
HONOLULU (HawaiiNewsNow) -
"Hawaiian Electric Industries Inc., the parent of the Hawaiian Electric Company, or HECO, recently received an "F" grade for its CEO's salary, the highest in the state.
Glass, Lewis & Co., a proxy advisory firm that's closely followed by Wall Street and institutional investors, said the $5.8 million paid to CEO Constance Lau last year was more than what similar sized utilities paid their bosses.
"Overall, the company paid more than its peers, but performed worse than its peers," the report said. "The company has been deficient in linking executive pay to corporate performance."
Pay is an expense so the company can show a loss and the CEO is still getting rich. In fact often the CEO gets an incentive bonus even when there is a loss. Lobbying is also a deductable expense by the way.
An old script from a familiar opera:
CEO to PUC: " We need a rate increase because our costs went up (my pay doubled) to remain profitable."
PUC: "DUH? OK."
OH, and then there is this.
"HEI CEO Constance Lau would receive $10.6 million in cash and other benefits if she is let go from the company, with or without cause, within two years of the merger, according to her change-in-control agreement filed with the U.S. Securities and Exchange Commission. "
http://www.civilbeat.com/2015/01/hawaiia...tera-deal/
Of course I am sure this had no influence on her enthusiasm for the merger, but some inquiring minds might be suspicious.
"Fire me; PLEASE!"