Media Attack Executive Pay, Hide Effort to Seal Their Own Compensation Records

Networks focus on ‘staggering’ pay and pensions for Exxon and other corporate CEOs, even as media companies fight SEC rule on disclosing high salaries.

By Noel Sheppard
Free Market Project

Gas price rage has blended with executive pay rage recently, since the media have been bashing ExxonMobil’s departing CEO, Lee Raymond, for his pay and pension package.
“Runaway pay,” said NBC’s Brian Williams on April 20, calling executive salaries and benefits “stratospheric” and “staggering.” CBS’s Bob Schieffer compared Raymond’s “golden” retirement to the “average American” on April 13. “How much is too much?” asked NBC’s Matt Lauer on April 11. And ABC’s “Good Morning America” said, “You Must Be Kidding!” referring to Raymond’s package as “stunning” on April 14.

Criticizing highly-paid executives has been in vogue at the news networks lately, but there’s something the anchors aren’t telling you: their colleagues’ top wages could soon be disclosed to the world, and Big Media are fighting it. Read on...