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7 Companies Paying Their CEOs More Than the Taxman

They made more in 2011 than their companies paid in federal income tax

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#3: Citigroup

  • CEO: Vikram Pandit
  • Global profits: $11.1 billion
  • Corporate income tax: -$144 million
  • CEO pay: $14.9 million
  • Stock change: -46.31%

Vikram PanditPandit was Citigroup‘s (NYSE:C) CEO throughout the banking crisis of 2008. He was appointed to his current job at the end of 2007 just after his predecessor Charles Prince was fired because of a series of massive losses at the bank. The bailout of Citi cost taxpayers more than $45 billion. But Pandit should get much of the credit for the repayment of that money and the restructuring of Citi, in part through the sale or spin off of a number of divisions. Pandit can also claim he is due one or two years of extraordinary compensation. Because of restrictions on what the senior managements of bailed out companies could receive, Pandit made only $128,751 in 2009 and $1 in 2010.

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