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What now for Citizens Energy?
By adamg on Tue, 03/05/2013 - 5:08pm
Michael Patrick Brady wonders:
Will the Citgo sign in Kenmore Square go dark for Hugo Chavez tonight?
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Comments
I'm sure Joe will be happy to
I'm sure Joe will be happy to keep making $600K pimping for his successor.
600K?!!!
I should be in the non-profit business!!!
Can you verify that with a link?
I'm willing to believe it, but I'm not going to take your word for it.
Oh, and Howie Carr is not a valid source of objective information: http://chrismatth.bluemassgroup.com/2012/03/11/car...
Try Boston Magazine, by way
Try Boston Magazine, by way of Wikipedia. The link is dead, but the Wayback Machine sez:
"Joseph P. Kennedy II,chairman and president, Citizens Energy Corporation: $596,988"
That's 2010.
That's the for-profit corp pay
If you click the link I posted above, his NON PROFIT CEO salary was ....
A whole freaking $75K! with ... $8K in benefits!
Wow - reality is like so hard to understand.
The other salary is for heading a FOR-PROFIT energy firm.
My trust of "bluemassgroup"
Because "Citizen's Enterprises Corp." a "holding company" and "marketing consulting services" company with Joe Kennedy founder & chairman -- his source of the rest of the $600K that he pulls down pimping for Hugo -- is totally separate from "Citizen's Energy Corp." with Joe Kennedy founder & chairman.
It's just a big coincidence.
My trust of "bluemassgroup" info is about the same as yours of Howie Carr.
It is the actual financial statement
But, hey, take Howie Carr's word for it. The IRS is just lying, yes.
It doesn't matter if he's making $75k, or $7.50
Anyone who truly wants to help people won't profit from the experience.
Profit and salary are different things
Should we not pay doctors, teachers, firefighters, counselors...?
You've got a point there.
Profit and salary are two different things.
Really though, each of those professions does have volunteers.
2010 Boston Magazine
He's listed at the bottom with other nonprofit CEOs:
http://www.bostonmagazine.com/2010/01/money-2010/2/
That's not to say he's making that much money this year, or last. He may in fact be making less, or certainly may be making more.
It's Public Info
Actually Joe K made $901,235 in 2011 at the "non-profit" Citizens Energy.
Elizabeth Kennedy made another $364,762 in 2011 as "Director of Marketing".
And that's just in 2011.
Check page 21 of the PC - "Form PC/Annual RPT"
http://www.charities.ago.state.ma.us/charities/ind...
Link Broken
This isn't going where you wanted it to.
Bear in mind that there are two entities that Kennedy runs. On is non-profit, the other is FOR profit. The vast bulk of his compensation is from the for-profit one.
They are NOT the same.
Broken Links
Sorry about the broken links but you'll have to search for Citizens Energy at this site
http://www.charities.ago.state.ma.us/charities/ind...
...then select Citizens Energy
...then select the PC - Form PC/Annual RPT in either pdf or tif
On page 21...it lists their salarys.
The entire company is "NONprofit".
you don't know how to read
you don't know how to read the report you are linking to.
page 20/Attachment 4 lists Citizens Enterprise Corporation as Taxable.
page 19/Attachment 3 describes Citizens Enterprise Corporation as a for-profit corporation.
page 21 shows that the majority of the base salary of both Kennedy's is for running the for-profit corporation. That said, I would put there being a strong case for the bonus being from the non-profit, meaning Joseph Kennedy's non-profit compensation was north of $400,000.
.
I agree
This thread is a real roundabout.
discount heating oil for low-income new englanders
Chavez (Venezuela) was willing to sell heating oil at a discount to low-income and fixed-income New Englanders who would otherwise not had the means to heat their homes.
I'm sorry Chavez called Bush "the devil" at the UN but Bush did invade Iraq under false pretenses.
Chavez built health clinics and schools all over Venezuela with oil revenue. Clearly, he's not everyone enemy.
John Wayne Gacy was a funny
John Wayne Gacy was a funny clown at children's birthday parties.
Like Bush's actions
John Wayne Gacy's actions resulted in a lot of people dying.
I dunno man I doubt he was
I dunno man I doubt he was all that funny. For all we know, he was a terrible clown.
Also,
http://www.theonion.com/articles/area-man-unsure-i...
Stealing oil from the poor
Stealing oil from the poor people of one country to give to the richer poor people in another.
Was this before or after he
Was this before or after he aided in significantly reducing poverty in his country?
Chavez stole less from the poor than any leader in history
I'd venture as a starting point in an argument.
His base was the poor and he gave to them to maintain their support.
No hero in my book but I've seen a lot worse. In fact, in Central and South America they've almost all been worse.
Please inform yourself on how many straight-up sociopaths the US propped up to, yes, take from the poor of a poorer country to give to the rich of a richer country.
Our history there is nothing less than scandalous.
http://www.celebritynetworth.
http://www.celebritynetworth.com/richest-politicia...
Move to Venezuela!
Move to Venezuela! Beat the cold and high energy prices!
Too bad Joe couldn't get Chavez to MGH or Dana Farber.
well reported...
It has been well reported for years that Joe Kennedy made 700K plus, and his wife made 300K plus taking care of those poor people. A real sacrifice for him, since he grew up so poor.
I have traveled all through Venezuala and just like the USA some people (usually the poor and working class) really liked him, but understood he was a megalomaniac. Others couldn't stand him. People felt the elections were reasonably legitimate vote counts, although Chavez did use his power to control media.
Other than some petty border skirmishes with Colombia, he didn't invade any other countries, he used his money to buy influence (sound familiar?) in places like Bolivia and Nicaragua. It was clear that he was spending money on public infrastructure, which is more than most of the previous oil company backed conservatives had done for the people over the past decades. Twelve cent a gallon gas was a nice amenity.
The truth, as usual is a bit more complicated than simple platitudes.
The Joe for oil thing certainly allowed Chavez to mock the powerful USA as a country that needed the help of the generous people of Venezuala to keep their citizens from freezing to death. Way to go Joe! Non-profits, another great scam!
Well reported?
The totals are well reported. What is poorly reported is that there is a split between the chariable and the for profit entities.
Kennedy makes that kind of money OVERALL, but NOT from the charity side of the house. That operation is financially separate from the operation that gives Kennedy his big overall salary and bonuses, etc.
The statements are public and available through the state. Here are the numbers from 2010:
His salary from Citizens Energy - the NON profit wing - is only $75K, with about $8K in benefits.
The FOR PROFIT compensation is the high figure - but that is a FOR profit corporation. As in "capitalism".
But your experience jibes with what my Venezuelan friends report: Chavez is not the monster he is painted to be in the US. He just isn't under our control. Here's a pretty even-handed description from the Nation: http://www.thenation.com/article/173212/legacy-hug...
For 10 hours a week
Just to put it into perspective, the report also says he put in 10 hours a week for that ~$80K. Not saying that's good or bad, just giving the whole story which others seem to have omitted.
well, one would hope that is
well, one would hope that is the case, since his for-profit salary is about 3 times as much, indicating how he spends the other 30 hours of a 40 hour work week in the shared offices.
My point is that you have to pro-rate the 80K
To compare apples to apples, the $80K for 10 hours is roughly comparable to $320K for a full timer. Just sayin'
What he does elsewhere is irrelevant.
I'm just gonna leave this here
http://www.humanevents.com/2008/01/09/chavez-joe-k...
Not so fast!
You're supposed to dispose of that sort of stuff properly!
Not that I don't enjoy the
Not that I don't enjoy the constant flow of red herrings, but: remind me again how much the CEO of BP made last year, in exchange for selling gas to poor people at full price, and stonewalling the investigation into his company poisoning the Gulf of Mexico? I don't see you free-market zealots beating a path to his door, nor does it have anything whatsoever to do with the story posted, but this looks like it's the place where we come to complain about people making money off the sale of hydrocarbons.
Totally wrong
'Clear that he was spending money on public infrastructure'?
http://www.economist.com/blogs/americasview/2011/1...’s-infrastructure
It's pretty widely accepted as fact that Chavez may have tried to help the poor, but his gov't interference in everything from imports to exports to pricing of staples has left his country in far worse shape that when he took over, in spite of the vast oil resources.
More from Slate in that
More from Slate in that vein:
http://www.slate.com/articles/news_and_politics/po...
Can anyone explain
why the crime and violence in Venezuela,especially Caracas, is so bad? And after many years of Hugo using oil revenues to help the poor, there shouldn't be any poor left, or far fewer. I'm not being a sarcastic troll, I'm dead serious. After all this time and money, Venezuela is still a hot mess.
And can't we all just agree Joe makes a nice piece of change operating a non-profit, in addition to his for-profit corp., which is fine? And yes, many non-profits are scandalously operated. I know for a fact there's a non-profit homeless shelter in Boston whose CEO makes over $300,000/year, plus benefits, including tuition for his kids.
http://www.miamiherald.com/20
http://www.miamiherald.com/2013/03/05/3268749/the-...
http://newsfromvenezuela.tumblr.com/post/867542155...