CEOs Earn Every Penny of Their Pay

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Bonestorm

Thrillhouse
Countrywide Edition:

Countrywide Financial Corp. founder Angelo Mozilo, one of the nation's highest-paid chief executives, stands to reap $115 million in severance-related pay if his troubled company is acquired by Bank of America Corp., regulatory filings show.

Free rides on the company jet are also included in Mozilo's departure deal, and the company will pick up his country club bills until 2011.
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Obviously, all of this pay is performance related.


http://www.latimes.com/business/la-fi-mozilo11jan11,0,2459321.story?coll=la-home-center
 
Capitalism really is the best system that we have had on the planet so far, but it is not without its gaping flaws. This is one of them, and it's one of those things that will end up undermining it's long-term success.

Cue topspin with insult about my femininity, ability to fetch coffee & affiinity for cold calls...
 
Onceler said:
Capitalism really is the best system that we have had on the planet so far, but it is not without its gaping flaws. This is one of them, and it's one of those things that will end up undermining it's long-term success.

Cue topspin with insult about my femininity, ability to fetch coffee & affiinity for cold calls...
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Plus, you're a wal-mart greeter, even if you think you have a different job. You don't actually, you're a wal-mart greeter. topspin says so.
 
The shareholders decide if a ceo is paid to much or not. its nobody else's business. believe me it makes me sick to but im more then willing to pay it as a shareholder if that person gets results.
 
Lorax, I'm with you 100%. Be honest and you'll remember my post.
I don't go for the blast all business, but you'll remember I'm for stronger SEC regs on boards and CEO's than anybody. I think it's virtually legalized stealing what the majority of CEO's and board members are getting paid. A lot of board members get over $250,000 a year just to sit in on a few meetings. What a sweet gig, approve the CEO's 50 million pay package and your on a couple boards pulling down a couple million for part time work. I've said this all along.
 
Topspin said:
Lorax, I'm with you 100%. Be honest and you'll remember my post.
I don't go for the blast all business, but you'll remember I'm for stronger SEC regs on boards and CEO's than anybody. I think it's virtually legalized stealing what the majority of CEO's and board members are getting paid. A lot of board members get over $250,000 a year just to sit in on a few meetings. What a sweet gig, approve the CEO's 50 million pay package and your on a couple boards pulling down a couple million for part time work. I've said this all along.
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Nowadays board members can be held liable for any major financial wrongdoing. I've talked to several gentlemen on Fortune 500 company's boards and they've said the new regulations have almost made it not worthwhile to be on a board.
 
cawacko said:
Nowadays board members can be held liable for any major financial wrongdoing. I've talked to several gentlemen on Fortune 500 company's boards and they've said the new regulations have almost made it not worthwhile to be on a board.
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And you buy that shit? Must be their altruistic nature that all these millionaires continue to serve on boards.
 
Look cawacko is right that boards are under more pressure lately. FINALLY, cause they can be sued doesn't mean they shouldn't. They should be under 1,000 times more pressure. FUCK 250,000 for a couple house a year and reading less at home than a school teacher grading papers. These fuckers should do way more for the shareholder and not be tied to the hip with the CEO's unless the the top guy is JOBS like as in STEVE!!!!
 
cawacko said:
Nowadays board members can be held liable for any major financial wrongdoing. I've talked to several gentlemen on Fortune 500 company's boards and they've said the new regulations have almost made it not worthwhile to be on a board.
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Really? And of those, how many have stepped down?
 
cawacko said:
What do you mean do I believe it? It's the law.
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He means you believe their crying that it's "almost" not worth it. That must have been some close count, but I guess that something just slightly tipped the scales in the direction of "oh fuck it I'll take the heat and do it".

I wonder if it could be living in the top 1% and the lifestyle that comes along with that?
 
I totally don't see this as right vs left.
I see it as right vs wrong. England has got a jump on us in having boards be more accountable to shareholders than ours are.
 
of the thousands very few trust me I'm a financial news junkie.
Oh, and I was wrong the freaking retard republicans are fighting to keep the country club boards and CEO's isolated and above reproach. My bad!!!
 
Topspin said:
of the thousands very few trust me I'm a financial news junkie.
Oh, and I was wrong the freaking retard republicans are fighting to keep the country club boards and CEO's isolated and above reproach. My bad!!!
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I haven't read anything that would imply a mass exodus of board members from large public companies. I do know that the rules have changed for board members and as I said the two who I talked to who are on boards have not felt the same about it since the rule changes.
 
cawacko said:
What do you mean do I believe it? It's the law.
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You buy the idea that it is almost not worthwhile to serve as a director.

Furthermore, on the liability of directors issue, any company of any size is going to carry director and office liability insurance and will also enter into indemnity agreements with the directors and offices. It's standard practice. Any exposure to liability is 100% mitigated by indemnification agreements and insurance.
 
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