by David Phinney
Wednesday April 24th 2024

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Defense Company CEOs Rake in the Money:

From the liberal think tank, United for a Fair Economy:

Defense CEO versus Military Pay
Defense spending boom has boosted military contractor CEO pay by 200 percent since 9/11 CEO pay among large US companies as a whole increased from 2001 to 2004 by only about 7 percent on average. By contrast, the defense contractor CEOs’ average compensation increased 200 percent during this period.
CEO pay levels dropped at only 7 of the 34 companies studied. Median pay for defense CEOs of these firms was $3.9 million in 2004. Because several had off-the-charts pay packages, average compensation for the group was much higher, at $11.6 million. George David, of helicopter maker United Technologies, came in No. 1 among defense contractors, with total 2004 compensation of $88.3 million, followed by David H. Brooks, CEO of bulletproof vest producer DHB Industries, wth $70.6 million

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