1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

$20 Mil for 17 days....Outrage!

Discussion in 'Uncategorized Threads' started by halfmile, Sep 26, 2008.

Thread Status:
Not open for further replies.
  1. halfmile

    halfmile Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    15,642
    Location:
    Green Bay Wisconsin
    Yep, outrage.

    WaMu's brand new CEO, on the job for 17 days, walks with 20 million dollars.

    Have the people had enough yet?

    I have. This is one of the most disgusting thngs I have heard this week.

    Talk about getting your nose rubbed in it.

    HM
     
  2. trim tab

    trim tab Active Member

    Joined:
    Jul 23, 2007
    Messages:
    1,424
    Location:
    Las vegas
    Absolute BS! Unbelievable
     
  3. hmb

    hmb Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    9,411
    Does he get a pension and medical insurance too. HMB
     
  4. cubancigar2000

    cubancigar2000 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    10,521
    Location:
    Idaho
    Of course he does. The poor stockholders ( a lot of who invested retirement money) lost everything and he walks with their money
     
  5. hammer-time

    hammer-time TS Member

    Joined:
    Apr 19, 2008
    Messages:
    246
    and why is the the majority of the republican party feel that they can't interject governance into private business? As far as I'm concerned, if their selling stock to on the open market, their no longer entirely private and should be subject to some kind of laws ragarding rape and pillage such as this!
     
  6. whiz-bang

    whiz-bang Active Member

    Joined:
    Mar 27, 2008
    Messages:
    840
    I think any CEO that makes $20 mil in 17 days deserves a neck tie party from the stockholders.
     
  7. ljutic73

    ljutic73 Well-Known Member

    Joined:
    Dec 29, 2005
    Messages:
    5,406
    Location:
    Lethbridge, Alberta, Canada
    When the collective worth of the remaining Walton's exceeds $100 Billion....20 Mil must look like chump change!!
     
  8. tj303

    tj303 Member

    Joined:
    Jan 29, 1998
    Messages:
    623
    Location:
    Ithaca, NY
    It isn't the CEO's fault he is getting paid an obscene amount, it is the board of directors who hired and agreed to the pay package. The 'neck-tie' party should be for the board members.
     
  9. puablo

    puablo Well-Known Member

    Joined:
    Sep 18, 2006
    Messages:
    2,376
    The money that all these CEOs walked with in the bail outs should be confiscated, and put into the pot to pay back the tax-payers who are goin to end up paying the tab in the end of this ludicrous mess. puablo
     
  10. trim tab

    trim tab Active Member

    Joined:
    Jul 23, 2007
    Messages:
    1,424
    Location:
    Las vegas
    Tell You How it Works! Stockholders do not stand a chance with the system we have today. Only people that are known to the board, or the founders, get on the board. It is impossible to get them off, once they are one, and when you do, they put someone else on that they like. The board sets the pay and pays these ridiculius wages to CEO's. There is nothing the stockholders can do. It stinks! Even Board members in most cases receive crazy compensation. Sometimes monthly and sometimes when they attend board meetings. There are poeple out therewho make their living by sitting on boards.

    Good Shootin
     
  11. comp 1

    comp 1 Well-Known Member

    Joined:
    Dec 10, 2006
    Messages:
    2,159
    I used to invest in the stock market and did 'I thought' fairly well--I got out several years ago with the exception of one utility stock I had in a dividend reinvestment program--I sold that stock a couple years ago at a good profit,BUT I am totally convinced now that in today's world with c.e.o. pay at such outrageous levels that anyone who is still in the market is a first class IDIOT.How in the Hell can anyone think that they are making a good investment in ANY publicly owned co. when the co.'s buy up their own stock,giving them majority ownership nd therefore control of the co. and rig the boards with their handpicked cronies and pay their c.e.o.'s such unfathomble amounts in comparison to what the average stockholder is getting on his return? I can't understand why ANYBODY is still in the market.
     
  12. crusha

    crusha TS Member

    Joined:
    Jan 29, 1998
    Messages:
    5,762
    BOD members are often CEOs or officers of other companies...people in that strata take care of each other, no doubt. It's all quite incestuous, in the corporate world.


    However, since there's no logical reason to believe lowering their pay would improve their performance, the Boards stick with the arrangement they presently have. Which is good for all of them.
     
  13. nipper

    nipper TS Member

    Joined:
    Dec 30, 2007
    Messages:
    1,502
    i heard mccain gets 5 million of it though and bush gets 400,000

    bill
     
  14. Brian in Oregon

    Brian in Oregon Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    25,238
    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    He needs to jump off a train like this banker.
     
  15. larryjk

    larryjk Member

    Joined:
    Jan 29, 1998
    Messages:
    519
    We ought to be damn glad he didn't stay much longer!!!!!!!!!
     
  16. Inspector 12

    Inspector 12 TS Member

    Joined:
    Jan 29, 1998
    Messages:
    192
    Stuff like this is why the talk of a government bailout program chaps me so much. I was especially irratated when the suggestion that these kind of "golden parachute" deals be voided if the government should bail out the failing institutions. The article that I read indicated that those drafting the plan were of the opinion that the payoffs should be allowed. My think is that if we the tax payers have to bail out the corporation, the individual at the switch doesn't deserve an obscene amount of severance pay for running the company into the ground.
     
  17. Bisi

    Bisi TS Member

    Joined:
    Jan 29, 1998
    Messages:
    3,399
    The board should be held responsible for paying this clown so much, but they won’t.

    I have always thought that one of the worst things to happen to this country was the growth of mutual funds. The fund managers now run things. They control these companies and ceos now. The individual investor has almost no voice. Who are these fund managers; cronies, golfing buddies, wall street types, of people sitting on boards.

    Years ago a person invested in a company because they believed that company made a decent product, had potential growth in a few years, had good management….

    Now you “invest” your money in a mutual fund. You don’t know what the manager is investing in or even care. You just want results. You aren’t willing to wait a few years for that new product to come on line and make some money. Why because you ain’t investing in any product, company, dreams, you gave your money to the manager and his job is his next quarters return.

    You don’t care if auto, home, lawnmower sales are down, you’re not in that business. You’re in the business of having a positive return the next quarter.

    That is why corporate American is accused of having no long term goals. The fund managers who control most of the stock - don’t. Only the next quarter. And if paying some clown millions to work a few days might save the quarter - then okay
     
  18. Dahaub

    Dahaub Active Member

    Joined:
    Jan 29, 1998
    Messages:
    1,309
    That just happens to be the gold in the golden parachute system. No one likes this kind of fraud and those that ok this should be charged with fraud and put on trial for it. That would be the people that sit on the board of directors. This whole joke of a bailout deal with our money going to pay for the piss poor abilities of the CEO's and other officials to handle the bottom lines of the companies that are going broke is going to haunt the taxpayers for years. One of the lessinformed in this forum disagreed with me that the Graham bill to deregulate the banking and financial institutions a few years back was the start of all this mess. It's been the republican way to deregulate and now we are reaping what they have sown. So when you have a question on the bailout ask Paladin. He knows all the answers. Dan
     
  19. halfmile

    halfmile Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    15,642
    Location:
    Green Bay Wisconsin
    There are many interlocking directorships in big business. A CEO of one company sits on several other boards, and CEO's of the others are on his Board.

    They leave just enough in the company to have a pulse.

    HM
     
  20. Little Dog

    Little Dog TS Member

    Joined:
    Jul 13, 2007
    Messages:
    531
    Sounds like fortuitous timing to me- sounds like some of you are just jealous that you didn't win the lottery too. LOL
     
Thread Status:
Not open for further replies.