Talk for Article "Fact check: Bernie Sanders’ claims about insurance company CEOs’ income"

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  1. [ This comment is from a user you have muted ] (show)

    Also, we had the SEC as SEO. Fixed.

  2. [ This comment is from a user you have muted ] (show)

    Claim 1 can’t be true if Regeneron is not an insurance company, which it is not. Sanders was explicit: “What insurance company CEOs made in 2017:”

    And the language in the about to be edited version is inappropriately slippery: “Regeneron is not really an insurance company…”

    Regeneron is not an insurance company. Not at all. We shouldn’t use “not really” language to weaken facts.

    Also, this part: “According to a SEO filing, Schleifer earned close to $27,000,000 in salary and other benefits in 2017. Which seems lower compared to the $40 million BioPharma Dive reported he earned over in 2015.”
    That second sentence isn’t a good sentence. And we actually don’t need the BioPharma Dive link for that $40 million figure. The first link, the SEO filing, already provides his 2015 compensation (not just his 2017 compensation), as $43.3 million. In any case, there doesn’t seem to be any point in saying one year “seems lower”. That’s not informative. A good question is why the SEC filing figures are so vastly different (lower) than the Axios tables.

    (Another question is what is Axios talking about with its Estimated Fair Value column. I can’t quite lock it down with google yet.)

    Edited: 2018-09-05 13:27:50 By Joe Duarte (talk | contribs) + 834 Characters .. + 214% change.‎‎ (Note | Diff)

  3. [ This comment is from a user you have muted ] (show)

    For claim #1 and claim #3 this report from the New York Times might be of help. It reports the earnings of both Leonard Schleifer and Mark Bertolini.
    https://www.nytimes.com/interactive/2018/05/25/business/ceo-pay-2017.html

    Claim #1, #2 and #3 can be found in the full overview on:
    https://www.nytimes.com/interactive/2018/05/25/business/ceo-pay-2017.html

    This article is based on a report done by Equilar, an executive compensation data firm. Information about how this list was compiled can be found here:
    https://www.nytimes.com/2017/05/26/business/how-the-ceo-rankings-were-done.html

    The full list is also available on the Equilars website:
    https://www.equilar.com/reports/table-equilar-new-york-times-highest-paid-ceos-2018.html

    I hope this helps!

    1. [ This comment is from a user you have muted ] (show)

      Thanks Daniel. CEOs receive most of their pay from stocks. I’m asking a few folks how they came to these numbers.

  4. [ This comment is from a user you have muted ] (show)

    Sanders claims that Leonard Schleifer (Regeneron) made $95.3 million in 2017.

    This may well be correct, and seems plausible.

    Note that the word used is “made” which could include his entire income for the year, not just his salary or compensation.

    The Wikipedia article says that Schleifer owns something like $1.3 billion in shares in Regeneron. Given how profitable the company is, it is possible he made a stack of money in dividends, share options, or whatever, on top of his compensation.

    I can’t find anything to suggest that he is a CEO of an insurance company, but Regeneron does work with health insurance companies, and suffice to say that much of any American pharmaceutical firm’s revenues will come from health insurance companies which pick-up the bill for their clients’ health care.

    1. [ This comment is from a user you have muted ] (show)

      I do agree with you that the word ” made” could be interpreted in many ways, all the data we have now pertain to salary and compensation, but would be great if we look again the the proxy report and see if it mentions the revenue in shares.

      1. [ This comment is from a user you have muted ] (show)

        Hi Daniel : Yes this analysis does support your claim, but to lacks the details as to how the actual realized gains of CEO is calculated
        https://www.axios.com/health-care-ceo-pay-sec-filings-analysis-62afaf7e-e6a5-40e0-bb6e-a2b87fa2af4a.html

        1. [ This comment is from a user you have muted ] (show)

          And it seems this is the case for all the CEOs Snaders mentioned, the great amount of compensation comes from options awards and shares. see this report as an example:

          https://www.latimes.com/hc-biz-bertolini-2017-compensation-20180406-story.html

    2. [ This comment is from a user you have muted ] (show)

      You’re right Daniel. I changed the rating to Needs more data for now. Axios reported the $95 million number.

  5. [ This comment is from a user you have muted ] (show)

    For claim #1 the proxy report, page 73 gives details about the compensation:

    http://investor.regeneron.com/secfiling.cfm?filingid=1047469-18-3073&cik=872589

  6. [ This comment is from a user you have muted ] (show)

    For Claim #3 about

    pages 23 and 24 of the proxy statement report show details about the compensation

    http://investor.aetna.com/phoenix.zhtml?c=110617&p=irol-proxystatements

  7. [ This comment is from a user you have muted ] (show)

    For claim #2 about Dave Wichmann , we can rely on this official report by unitedhealthgroup, check page 4 :

    https://www.unitedhealthgroup.com/content/dam/UHG/PDF/investors/2017/UNH-2018-Proxy.pdf

    1. [ This comment is from a user you have muted ] (show)

      This is a summary of what has been paid to David Wichmann in 2017 as mentioned by the official report:

      • Base salary — $1.16 million.
      • Cash incentive awards — Annual cash incentive award of $4.25 million and long-term cash incentive award of $649,800, which reflect the Company’s performance against pre-set goals and continued strong leadership by Mr. Wichmann.
      • Equity awards — Performance shares with a target grant date fair value of $5.55 million, restricted stock units with a grant date fair value of $2.775 million and stock options with a grant date fair value of $2.775 million.
      • Company matching contributions — $159,519 under our 401(k) and executive savings plan.

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