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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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#6: Boeing

  • CEO: W. James McNerney
  • Global profits: $4.1 billion
  • Corporate income tax: -$605 million
  • CEO pay: $18.4 million.
  • Stock change: +10.47%

W. James McNerneyMcNerney has gone from being a goat to a hero over the last two years. He joined Boeing (NYSE:BA) in June 2005, after serving as CEO of 3M. His tenure has largely coincided with the development and launch of Boeing’s 787 Dreamliner, which suffered repeated delays and cost the company money and the ire of customers. Boeing’s net income in 2007 was almost $4.1 billion, a level it still has not recovered by 2011 numbers. A great deal of the 787 and earnings trouble have been forgotten now that the Dreamliner has been launched. Boeing has an extraordinary backlog of $374 billion, or about five times sales. A new version of the 747 has brought that franchise new life. Next generation versions of the 737 have spurred its sales. Boeing’s rivalry with its only real competitor, Airbus, has gone Boeing’s way for the last year as it racked up record orders.

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