Posted on 09/19/2008 4:14:06 PM PDT by dragnet2
How much will he make this year?
Question/Comment: Last year Lehman Brothers' CEO Richard Fuld, Jr. made $71 million. Today his company collapsed. How much will he make this year?
Paul Solman: I don't know about this year. You've covered last. In 2006, according to Forbes.com, he was the 5th highest-paid CEO in America: "Total Compensation $122.67 mil; 5-Year Compensation Total $375.81 mil."
Add to that, these from his wife...
FULD, KATHLEEN
GREENWICH,CT 06830 N/A/HOMEMAKER 9/27/07 $15,000 Democratic Senatorial Campaign Cmte (D)
FULD, KATHLEEN
GREENWICH,CT 06831 NONE/HOMEMAKER 10/22/07 $2,300 Clinton, Hillary (D)
FULD, KATHLEEN
GREENWICH,CT 06831 NONE/HOMEMAKER 10/22/07 $2,300 Clinton, Hillary (D)
FULD, KATHLEEN
GREENWICH,CT 06831 NOT EMPLOYED/HOMEMAKER 5/30/07 $2,300 Obama, Barack (D)
FULD, KATHLEEN MRS
GREENWICH,CT 06831 N/A/HOMEMAKER 9/18/07 $2,300 Dodd, Christopher J (D)
FULD, KATHLEEN MRS
GREENWICH,CT 06831 N/A/HOMEMAKER 9/19/07 $2,300 Dodd, Christopher J (D)
A-Rod did his job, so you can't blame him even if he might be overpaid.
THIS is what has got to stop. If it means ‘big government must intervene’ then so be it. NO human is worth that much money, especially if his company tanks.
I know how the Queen of Hearts felt . . . “Off with their heads.”
But the team is making money, isn't it?
ANd when Arod doesn’t do his job it costs me and my children nothing.
This ceo should be honorable and commit suicide.
That being said, if the CEO is the founder of the company, or a family member then the sky's the limit.
If they don't actually commit fraud then they're welcome to any salary they want. If they run their own company into the ground that's sad but their prerogative. It's these 100 year-old companies where the board is butt-waxing the CEO and visa-verse, that get my goat. Alot of these folks are simply shysters.....but I don't think the government should be involved....the shareholders need to deal with these problems.
LOL! Cool website though - huh?
“I believe that the CEOs need to be held accountable - no money left, then you have no money either - give it back! I’m tired of these greedy b$%^^(* getting their money while the underlings get screwed.”
I wholeheartedly agree.
it looks like the problem was a lot bigger than Lehman.
“Merrill Lynch’s newly recruited chief executive, John Thain, stands to share a $200m (£111.4m) payout with two senior lieutenants for less than a year’s work which culminated this week in the bank surrendering its 94-year-old independence.”
http://www.guardian.co.uk/business/2008/sep/17/merrilllynch.executivesalaries
this is the really irritating part
For every over-regulated company that “fails” or is drowned by government interference, regulations, laws, taxes etc. there are are millions of private corporations and their CEO’s who create technology and give us our standard of living and keep the economy going despite the trillions wasted by government.
Private Corporations like Intel, Toshiba, Toyota,Google, IBM, National Semiconducter, Ford, GM , GE,Walmart, UPS ,FED EX, Exxon , Merck , created civilization and provided jobs where there was once barren wasteland. Men like Sam Walton, Ford, Michael Dell and Thomas Edison ran companies like this and do they deserve what they earned? Of course and more.
Surely you don’t think government has created this civilizaton? Surely you don’t think the average government educated, semi-illiterate idiot did do you?
It is not any one’s business what a private company wishes to pay a CEO or employee. Government shouldn’t get involved MORE in our economy to force salary restrictions etc. at the point of a gun as they already do affirmative action, regulations, confiscatory taxes etc..
It seems to me what you are saying is Democrat/Marxist class envy and class warfare propaganda.
He came out and said, don't spend a lot of time on this, they can't afford anything, much less a whole system.
We pulled and sent a stock proposal which went into that permanent state of nowhere.
In the meantime, the son of the company owner who was a friend of a friend of mine who ran a government back loan company that guaranteed business loanns went to the government company for a loan the buy out dad. And he got it. And he did.
He poodled the company along for about a year.
Then he declared bankruptcy.
Terrible thing.
Until you realized that he just saved his parents and saved his substantial inheritance, and screwed the taxpayer.
That was when I became really skeptical of any and all financial business dealings that include the government.
The compensation looks to me like a scam.
He heads up a company that went broke. Not a little broke, roaringly broke. But he pockets $378 million. The investors get taken to the cleaners, he gets the equivalent of a small and prosperous country.
If you invested in my company, and after 5 years I informed you that, while I had $300 million in the bank, but all your money was gone, you’d probably go and find me a rope and a tree.
Who in the company is going to rein in guys like this when the people in a position to know are probably being similarly bought off.
Excellent. Thanks.
Of course..
These guys walk with a big time lottery style bucks, and everyone else loses.
I would imagine all these crooks are now investing in some high end security around their opulent sprawling mansions
The really irritating part is that every taxpayer was forced to give $283 towards the bailout. No chance for us to vote yes or no. Just a “you will give” decision was made top protect their old workmates.
Let me change “every taxpayer” to “every citizen”. Got three kids and a wife? Your family ‘gave’ $1415.00.
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