Hard times for State Farm CEO
October 13, 2010
The state of the economy wherein we have under two trillion dollars in circulation being chased by 13 trillion dollars in debt, many people have suffered losses and reductions in salaries. Ed Rust, the CEO of State Farm insurance is no exception. His earnings went down from 2008. Interestingly, however, his earnings did go up from 2007 to 2008 and then down to 2009.
Here is what Ed Rust made:
| 2007 | $ 11,707,699.60 | (Bonus and Salary) | ||
| 2008 | $ 13,656,874.08 | (Salary was under $ 2,000,000; bonus made up the rest) | ||
| 2009 | $ 9,443,179.74 | (Bonus and Salary) |
How would you like to suffer a 4 million dollar hit to your income? You probably wouldn't like it at all and we expect that Ed Rust didn't like it either.