Countrywide CEO among others with plenty of gaul, audacity, temerity use your favorite adjectives to justify huge (100s of millions) in compensation despite the near depression in real estate and credit.
Story here.
It used to be you could look up to great leaders in business and society as having integrity. Apparently that's all out the window since the 80s and it's grab what you can. How many jobs would this have saved not only if they didn't screw things up but if they had a reasonable wage? I think it's high time there were limits on the high end (ie a "maximum wage" just like the minimum one).
O'Neal lost the confidence of investors and directors after delivering a $2.24 billion third-quarter loss last year. Merrill has said O'Neal's stock awards were granted before 2007, and he didn't get a bonus last year or severance.
Citigroup, the largest US bank by assets, "worked hard to align management's interests with the interests of shareholders," Prince said. Prince, 58, who left Citigroup in November, came under pressure after the bank reported $6.5 billion in write-downs and losses in the third quarter.
No comments:
Post a Comment