Are millionaire CEOs experts at job creation? Today, President Obama announced his intent to appoint several members of the Presidentâ€™s Council on Jobs and Competitiveness.Â I’m not saying the White House should pick people randomly off the street but the tip of the cap to corporate interests is, once again, obvious.Â But whether they have big salaries or not, the more important question is: Do the CEOs at Comcast, Kodak, American Express and Citigroup know how to create jobs or are they simply well compensated CEOs at well known companies?Â They know how to create credit card fees at AmEx and they know how to rates at Comcast.Â But are they experts in job creation?Â Or would an economist or a new technology genius (Intel, Facebook) be a better person to serve on this council?Â Are Richard Trumpa and Joseph Hansen balancing the list representing working class folks? Looking at this list may give one the feeling the Council is more focused on “competitiveness” than “jobs.”
Steve Case — Founder of AOL. Tech millionaire. Read Fools Rush In: Steve Case, Jerry Levin, and the Unmaking of AOL Time Warner (2005).
Ken Chenault – wiki: “While CEO of American Express in 2007, Chenault earned a total compensation of $50,126,585, in 2008, he earned a total compensation of $42,752,461.’
John Doerr — Silicon Valley kingpin. “Forbes ranks Doerr as the 582nd richest person in the world, with a net worth of US $1.7 billion.”
Roger Ferguson, Jr. — Economist. CEO of TIAA-CREF. Appears to be a normal person with a normal salary.
Mark Gallogly — Founder of private investment firm Centerbridge Partners.
Joseph Hansen — UFCW International President.
Lewis â€œLewâ€ Hay, III — CEO of NextEra Energy, Inc. one of the nationâ€™s leading electricity-related services companies.
Gary Kelly — CEO of Southwest Airlines.
Ellen Kullman — CEO of DuPont. One of Forbes 400 richest Americans and they list her salary at $10 million.
A.G. Lafley — Former CEO, Proctor & Gamble. “Earned a total compensation of $25,568,212, which included a base salary of $1,700,000, a cash bonus of $4,566,100. But this is nice: “During his leadership, sales doubled, profits quadrupled, and P&Gâ€™s market value increased by more than $100 billion dollars.”
Monica C. Lozano — CEO of La OpiniÃ³n VP of Impremedia, LLC.
Darlene Miller — CEO of Permac Industries… I think this is the “Darlene Miller” the White House picked.
Paul Otellini — CEO of Intel on the Board of Google. Forbes lists hos total compensation at $14 million.
Richard Parsons — CEO of Citigroup.
Antonio Perez — CEO of Eastman Kodak. Salary according to Forbes: $12 million.
Penny Pritzker — CEO, Classic Residence by Hyatt. Forbes: “The 204th richest person in the U.S., estimated net worth of US $1.7 billion.”
Brian L. Roberts — CEO of Comcast.Â Salary according to Forbes: $14 million.
Matt Rose — CEO of Burlington Northern Santa Fe Corp.Â Salary according to wikipedia: $14 million.
Sheryl Sandberg — CEO of Facebook.
Richard Trumka — President of the AFL-CIO. Salary: $238,000.
Laura D. Tyson — Economist. Professor at University of California, Berkeley.
Robert Wolf — CEO of UBS.