WTF????? ----> WaMu CEO: 3 weeks work, $18M

Discussion in 'Economy' started by CA95380, Sep 28, 2008.

  1. CA95380
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    CA95380 USMB Member

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    If this has already been posted, my bad, sorry, and opps! I saw this on morning news and after my jaw dropped I started looking for a link. I found it! All I can say .... is WTF????????


    WaMu CEO Fishman might get millions for a three-week job - Sep. 26, 2008
     
  2. CA95380
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    CA95380 USMB Member

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    Not one person has found this interesting :confused:

    So shoot me for a shameless .... bump. :doubt:
     
  3. Navy1960
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    Navy1960 Senior Member

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    This does nothing bet verify that Wall Street likes to reward irresponsibility CA, look at this bailout bill, there are many examples of this kind of excess. The interesting thing here is the Board approves this sort of thing and the board is supposed to be held accountable by the stock holders which is a complete joke. Just look what Jeffery Immelt who has been the CEO of G.E. for years and makes a least 3 million a year, year after year and that does not include bonus and other compensation. The trick here is the company has been bleeding money since he took over, but yet the board keeps giving him the salary. So this is no surprise.

    Immelt's GE Sees $3B Q4 Loss, Inks $500M Qatar Deal - Forbes.com
     
  4. CA95380
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    CA95380 USMB Member

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    Good link Navy .... thanks.
     
  5. DavidS
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    DavidS Anti-Tea Party Member

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    disgusting. absolutely disgusting. he should give that money back to the shareholders.
     
  6. CA95380
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    CA95380 USMB Member

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    Greed. It is all about Greed. In all of the large companies. And what amazes me is that Washington, DC is actually buying this "bail out" deal. I guess they think the rest of we citizens are stupid?

    But at this point ... what can Joe or Jane America do about it? I do not see us being able to do squat about it?
     
  7. Navy1960
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    Navy1960 Senior Member

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    Anytime CA, You would think as a GE stockholder I would be really mad about this, but I got upset a long time ago and found out it doesn't do much. These boards know nothing about ethics anymore and responsibility. I thought at one time but don't know how much good it would do, that a board member and senior management must sign an ethics statement that requires them to accept some responsiblity for their salary and their companies actions.

    On Aug. 12, 1985, Japan Airlines Flight 123 crashed after taking off from Tokyo International Airport killing 520 people. In the aftermath, JAL president Yasumoto Takagi personally visited and apologized to families of every victim, and then he resigned. In Japanese culture, this was a question of honor.


    Until American Executives learn that responsibility goes beyond the collection of a massive salary and the boardroom we will all continue to pay for their mistakes. I thought that littel story might show how another CEO reacted when his company was "irreponsible"
     
  8. CA95380
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    CA95380 USMB Member

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    I totally agree with you. But what I don't understand is why anyone is buying the concept of this "bailout". I admit I am simple minded ... but this shit stinks and no one seems to see it except "normal American citizens". I just do not get it.
     
  9. Navy1960
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    Navy1960 Senior Member

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    Honestly, I think most Americans are pretty mad about this bailout in general. One thing that I find as striking in all this is that at least to me anyway, it just shows that congress has no interest in it's real duty of representing the American people.
     
  10. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    I realize this sounds trite, considering our economy but, what if we started some more threads about badly behaving corporations and encouraged each other and our circles of influence to not do business with them?

    It ain't much, but it's something...

    -Joe
     

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