[ via Econompic ]
I've never been paid for an EPIC FAIL. You?
Unbelievable. F*CK.
This is called: 'heads-I-win; tails-you-lose' executive compensation.
“… if you make compensation all upside and no downside that will affect the executive's assessment of risk. It will make it clear to him that he can easily offload the risk onto shareholders. It's heads they win, tails we lose.” –Nell Minow, testimony to U.S. House Committee on Oversight and Government Reform
Dealbook:
Between 1993 and 2007, Mr. Fuld took home about $466 million in compensation, including base salary, bonuses, long-term incentive plan payouts and the value of stock options he exercised. That’s according to calculations from Equilar, an executive compensation research firm.
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5 comments:
starting to identify with the reaction of the french to the aristocracy during the French Revolution? I am. And, if the government hands F or GM $25 billion, I think they better bar the capitol building.
I think Ben Bernanke aspires to be in this league too. He will do everything he possible can to keep the casino going until he lands a job that at least will net him a $100 million.
And to think that there is a candidate who wants to lower income taxes for a fellow like Fuld makes what is happening today even more disgraceful.
Simply unreal. I work for myself. If I do a bad job, I don't get paid. Why do these bastards get away with this crap. The system is broken and it's going to get very ugly. Your blog is great BTW. I've learned a lot. I also linked your blog to mine, www.beyondrealtime.com. Check it out.
Keep it up.
R. Moran
I think it´s really important that companies rely on human capital consulting firms, which in turn use many tools designed for executive assessment in order to decide who is the right individual for a key position.
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