$17,000 an hour. No success required


	$17,000 an hour. No success required

arifsali

9-18-2008 3:19 PM

432 views

tags:

finance, united states

arifsali says:

By Nicholas D. Kristof

3 Comments |

Add a Comment

9-18-2008 4:13 PM

darkduskx

He forgot to mention the AIG CEO:

http://clipmarks.com/clipmark/86DDAE59-A4E8-41BC-AF54-A358C0CB2E62/

9-18-2008 4:49 PM

arifsali

There's just way too many now; hope citizens are keeping up.

9-18-2008 7:36 PM

deb2012

It's called moral hazard. We keep bailing these guys out, ecouraging them to take risk, under regulate, and expect them not to go to extremes? I read today that many of these companies had debt/equity ratios of 27:1 - that should be criminal for a public company.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/7344c280-a2e5-40fc-a077-573bb57f03e9/37ACA76B-EDE7-4270-A3BD-91964BC2AE98/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php" href="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php" style="font-size: 11px;">www.iht.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php"><P>Are you capable of taking a perfectly good 158-year-old company and turning it into dust? If so, then you may not be earning up to your full potential.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php"><P>You should be raking it in like Richard Fuld, the longtime chief of Lehman Brothers. He took home nearly half-a-billion dollars in total compensation between 1993 and 2007.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php"><P>Last year, Fuld earned about $45 million, according to the calculations of Equilar, an executive pay research company. That amounts to roughly $17,000 an hour to obliterate a firm. If you're willing to drive a company into the ground for less, apply by calling Lehman Brothers at (212) 526-7000.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php"><P>Oh, nevermind.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.iht.com/articles/2008/09/18/opinion/edkristof.php"><P>I'm delighted to announce that Fuld (who continues to lead Lehman since it entered bankruptcy proceedings this week) is the winner of my annual Michael Eisner Award for corporate rapacity and poor corporate governance. The award honors the pioneering achievements in this field of Eisner, the former Walt Disney chief.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/37ACA76B-EDE7-4270-A3BD-91964BC2AE98/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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