Discussion:
OT - Only in America
(too old to reply)
theBZA
2008-04-17 20:10:46 UTC
Permalink
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in just the
first 3 months of the year. They've taken $30 BILLION (that's with "B")
in write-downs in the last 9 months - that's $10 BILLION in write-downs
a quarter for the last 3 quarters. They announced nearly 4000 job cuts
slated for the next 9 months (which they estimate will save $800
million, with an "m", in compensation outlays - that saves them 2.7% of
what they've been losing for the next 9 months - wow - wouldn't want to
consider cutting the CEO's salary would they?). Speaking of the CEO, for
all his fine work running Merrill into the ground, he was rewarded with
just under $30 BILLION - yes, Billion with a "B" and yes, that means his
salary and his salary alone is exactly equal to the company's losses for
the last 9 months. Only in George W. Bush's America.
--
There are hills and mountains between us
Always something to get over
Needless to say it’s a wonderful day
I just noticed how nice it was to know ya
Oh but be ready to sacrifice
If you love him you should tell him twice
Because when everything that’s alive ultimately dies
Oh lord... Don’t be surprised

- Gnarls Barkley
bozak
2008-04-17 20:20:21 UTC
Permalink
Post by theBZA
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in just the
first 3 months of the year. They've taken $30 BILLION (that's with "B")
in write-downs in the last 9 months - that's $10 BILLION in write-downs
a quarter for the last 3 quarters. They announced nearly 4000 job cuts
slated for the next 9 months (which they estimate will save $800
million, with an "m", in compensation outlays - that saves them 2.7% of
what they've been losing for the next 9 months - wow - wouldn't want to
consider cutting the CEO's salary would they?). Speaking of the CEO, for
all his fine work running Merrill into the ground, he was rewarded with
just under $30 BILLION - yes, Billion with a "B" and yes, that means his
salary and his salary alone is exactly equal to the company's losses for
the last 9 months. Only in George W. Bush's America.
30 billion??? hopefully that was a typo... if not there should be an investigation...
theBZA
2008-04-17 20:35:17 UTC
Permalink
Post by bozak
Post by theBZA
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in just
the first 3 months of the year. They've taken $30 BILLION (that's
with "B") in write-downs in the last 9 months - that's $10 BILLION in
write-downs a quarter for the last 3 quarters. They announced nearly
4000 job cuts slated for the next 9 months (which they estimate will
save $800 million, with an "m", in compensation outlays - that saves
them 2.7% of what they've been losing for the next 9 months - wow -
wouldn't want to consider cutting the CEO's salary would they?).
Speaking of the CEO, for all his fine work running Merrill into the
ground, he was rewarded with just under $30 BILLION - yes, Billion
with a "B" and yes, that means his salary and his salary alone is
exactly equal to the company's losses for the last 9 months. Only in
George W. Bush's America.
30 billion??? hopefully that was a typo... if not there should be an investigation...
$28+ BILLION in total compensation according to SEC disclosures. I was
exagerating when I said "total salary" since IIRC his salary was only in
the $750,000 range. Rest was vested stock compensation and other forms
of compensation. But that's all just for accounting purposes and to let
him skate on paying 33% on the entire $30B.
--
There are hills and mountains between us
Always something to get over
Needless to say it’s a wonderful day
I just noticed how nice it was to know ya
Oh but be ready to sacrifice
If you love him you should tell him twice
Because when everything that’s alive ultimately dies
Oh lord... Don’t be surprised

- Gnarls Barkley
PeterL
2008-04-17 20:59:13 UTC
Permalink
Post by theBZA
Post by bozak
Post by theBZA
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in just
the first 3 months of the year. They've taken $30 BILLION (that's
with "B") in write-downs in the last 9 months - that's $10 BILLION in
write-downs a quarter for the last 3 quarters. They announced nearly
4000 job cuts slated for the next 9 months (which they estimate will
save $800 million, with an "m", in compensation outlays - that saves
them 2.7% of what they've been losing for the next 9 months - wow -
wouldn't want to consider cutting the CEO's salary would they?).
Speaking of the CEO, for all his fine work running Merrill into the
ground, he was rewarded with just under $30 BILLION - yes, Billion
with a "B" and yes, that means his salary and his salary alone is
exactly equal to the company's losses for the last 9 months. Only in
George W. Bush's America.
30 billion??? hopefully that was a typo... if not there should be an investigation...
$28+ BILLION in total compensation according to SEC disclosures. I was
exagerating when I said "total salary" since IIRC his salary was only in
the $750,000 range. Rest was vested stock compensation and other forms
of compensation. But that's all just for accounting purposes and to let
him skate on paying 33% on the entire $30B.
That would make him the third richest person in the world. Is that
even logical? It's more like 300 mil.
bozak
2008-04-17 21:44:21 UTC
Permalink
Post by theBZA
Post by bozak
Post by theBZA
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in just
the first 3 months of the year. They've taken $30 BILLION (that's
with "B") in write-downs in the last 9 months - that's $10 BILLION in
write-downs a quarter for the last 3 quarters. They announced nearly
4000 job cuts slated for the next 9 months (which they estimate will
save $800 million, with an "m", in compensation outlays - that saves
them 2.7% of what they've been losing for the next 9 months - wow -
wouldn't want to consider cutting the CEO's salary would they?).
Speaking of the CEO, for all his fine work running Merrill into the
ground, he was rewarded with just under $30 BILLION - yes, Billion
with a "B" and yes, that means his salary and his salary alone is
exactly equal to the company's losses for the last 9 months. Only in
George W. Bush's America.
30 billion??? hopefully that was a typo... if not there should be an investigation...
$28+ BILLION in total compensation according to SEC disclosures. I was
exagerating when I said "total salary" since IIRC his salary was only in
the $750,000 range. Rest was vested stock compensation and other forms
of compensation. But that's all just for accounting purposes and to let
him skate on paying 33% on the entire $30B.
That would make him the third richest person in the world. Is that
even logical? It's more like 300 mil.

************************************************************

sounds more in line with what they get for holding a position and usually
doing nothing...

when it comes to life in america, those who work the hardest, carry those
who dont pay taxes, and those who work the least hardest (ceo's) make the
most...
D. Gerasimatos
2008-04-17 22:11:30 UTC
Permalink
Post by PeterL
That would make him the third richest person in the world. Is that
even logical? It's more like 300 mil.
************************************************************
sounds more in line with what they get for holding a position and usually
doing nothing...
when it comes to life in america, those who work the hardest, carry those
who dont pay taxes, and those who work the least hardest (ceo's) make the
most...
I am surprised that shareholders are okay with these compensation
packages. Most CEOs work very hard and don't make that kind of dough. They
aren't poor by any stretch, but many CEOs of small-to-medium companies
work 24 hours per day (traveling while they sleep) and don't even see
$1M per year for it.


Dimitri
bozak
2008-04-17 23:18:22 UTC
Permalink
Post by D. Gerasimatos
Post by PeterL
That would make him the third richest person in the world. Is that
even logical? It's more like 300 mil.
************************************************************
sounds more in line with what they get for holding a position and usually
doing nothing...
when it comes to life in america, those who work the hardest, carry those
who dont pay taxes, and those who work the least hardest (ceo's) make the
most...
I am surprised that shareholders are okay with these compensation
packages. Most CEOs work very hard and don't make that kind of dough. They
aren't poor by any stretch, but many CEOs of small-to-medium companies
work 24 hours per day (traveling while they sleep) and don't even see
$1M per year for it.
i should have said major companies...
D. Gerasimatos
2008-04-18 05:46:56 UTC
Permalink
Post by bozak
Post by D. Gerasimatos
I am surprised that shareholders are okay with these compensation
packages. Most CEOs work very hard and don't make that kind of dough. They
aren't poor by any stretch, but many CEOs of small-to-medium companies
work 24 hours per day (traveling while they sleep) and don't even see
$1M per year for it.
i should have said major companies...
No, I know. My point is that these fat cat CEOs give business a bad name
and the reality is that these compensation packages are uncommon and
obscene. Why would the shareholders and board pretend like this is
typical? I can understand the Countrywide CEO gettinga big pay-out,
since he founded the damn company 40 years ago and grew it into a major
player, but some of these guys run the company (poorly) for a few years
and then bail out with a massive compensation package. That's robbery.
Why do the shareholders let these guys get away with it?


Dimitri
theBZA
2008-04-18 14:20:46 UTC
Permalink
Post by PeterL
Post by theBZA
Post by bozak
Post by theBZA
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in
just the first 3 months of the year. They've taken $30 BILLION
(that's with "B") in write-downs in the last 9 months - that's $10
BILLION in write-downs a quarter for the last 3 quarters. They
announced nearly 4000 job cuts slated for the next 9 months (which
they estimate will save $800 million, with an "m", in compensation
outlays - that saves them 2.7% of what they've been losing for the
next 9 months - wow - wouldn't want to consider cutting the CEO's
salary would they?). Speaking of the CEO, for all his fine work
running Merrill into the ground, he was rewarded with just under
$30 BILLION - yes, Billion with a "B" and yes, that means his
salary and his salary alone is exactly equal to the company's
losses for the last 9 months. Only in George W. Bush's America.
30 billion??? hopefully that was a typo... if not there should be an investigation...
$28+ BILLION in total compensation according to SEC disclosures. I
was exagerating when I said "total salary" since IIRC his salary was
only in the $750,000 range. Rest was vested stock compensation and
other forms of compensation. But that's all just for accounting
purposes and to let him skate on paying 33% on the entire $30B.
That would make him the third richest person in the world. Is that
even logical? It's more like 300 mil.
It includes vested stock which may not be worth the 23B it once was.
--
There are hills and mountains between us
Always something to get over
Needless to say it’s a wonderful day
I just noticed how nice it was to know ya
Oh but be ready to sacrifice
If you love him you should tell him twice
Because when everything that’s alive ultimately dies
Oh lord... Don’t be surprised

- Gnarls Barkley
agaxxan
2008-04-18 20:15:14 UTC
Permalink
Post by theBZA
Post by PeterL
Post by theBZA
Post by bozak
Post by theBZA
Merrill-Lynch posts a $1.96 BILLION (that's with a "B") loss in
just the first 3 months of the year. They've taken $30 BILLION
(that's with "B") in write-downs in the last 9 months - that's $10
BILLION in write-downs a quarter for the last 3 quarters. They
announced nearly 4000 job cuts slated for the next 9 months (which
they estimate will save $800 million, with an "m", in compensation
outlays - that saves them 2.7% of what they've been losing for the
next 9 months - wow - wouldn't want to consider cutting the CEO's
salary would they?). Speaking of the CEO, for all his fine work
running Merrill into the ground, he was rewarded with just under
$30 BILLION - yes, Billion with a "B" and yes, that means his
salary and his salary alone is exactly equal to the company's
losses for the last 9 months. Only in George W. Bush's America.
30 billion??? hopefully that was a typo... if not there should be
an investigation...
$28+ BILLION in total compensation according to SEC disclosures. I
was exagerating when I said "total salary" since IIRC his salary was
only in the $750,000 range. Rest was vested stock compensation and
other forms of compensation. But that's all just for accounting
purposes and to let him skate on paying 33% on the entire $30B.
That would make him the third richest person in the world. Is that
even logical? It's more like 300 mil.
It includes vested stock which may not be worth the 23B it once was.
I know you have a strong political viewpoint that you want to convey,
but you are doing yourself and your hysterical politics a disfavour by
propagating not only complete and utter lies, but actually something
which is completely beyond the realm of logical possibility. John
Thain has only been CEO at Merrill for a few months. Do you really
think they are going to give him more than half the market cap of the
company in stock options for three months work? What kind of a person
would actually believe such a thing?

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