It's beyond me why they would even bother to show up. But - they have nobody to blame but themselves for whats about to come - they overwhelmingly supported this rookie and now they will reap what they have sown.
“They have nobody to blame but themselves.”
For example, on 5/3/07 the CEO of Lehman Brothers had a salary of $52 million, on 4/30/08 since he probably knew he was toast it was raised to $72 million, on 4/22/09 it was zero and goodby.* In 07 the CEO of Countrywide Financial’s salary was $142 million. The next year, sensing trouble, in was only $103 million. Too bad, 09, zero and goodby.
For survivor Bank of America the 3 years read $100M, $20M, and $12.5M. For Wells Fargo (which absorbed Wachovia) $72M, $13M, and $1.4M. What amazes me is the Goldman Sachs figures of $37M in 07, double to $74M in 08, and still a large $26M in 09. Were they that good, or that dishonest, or had that much influence? Inquiring minds want to know.
*Check out “Forbes CEO Compensation” for the dates listed in first paragraph for more interesting CEO information.