IP Democracy: Big Pay Days for Cable, Telco Lobbying Chiefs

Speaking of money spent on lobbying, LightReading’s Mark Sullivan has this juicy piece today which details the salaries of the two chief communications lobbyists in Washington. Walter McCormick, CEO of US Telecom, was paid $1.875 million in salary and benefits during 2004, and sources suggest his compensation doubled in 2005.

Robert Sachs, the former CEO of the National Cable & Telecommunications Association, earned $1.653 million in salary and benefits during 2004 (Kyle McSlarrow became the head of NCTA after Sachs, but the 2005 IRS filings for trade groups aren’t available yet).

What neither of these figures reveal is just how much deferred compensation these two powerful lobbyists received. It’s very common to offer nifty deferred compensation packages to trade association heads, usually in the form of stock they receive after departure.

Posted by Cynthia Brumfield on June 14, 2006 6:19 PM to IP Democracy