Finally, it pays to be Kenneth Feinberg’s special-needs CEO. You get this insider info before everyone else. The Times reports:
Under the plan, which will be announced in the next few days by the Treasury Department, the seven companies that received the most assistance will have to cut the annual salaries of their 25 best-paid executives by an average of about 90 percent from last year. The executive’s total compensation — including bonuses and retirement contributions — will drop, on average, by about 50 percent. The companies are Citigroup, Bank of America, the American International Group, General Motors, Chrysler and the financing arms of the two automakers.
Is Benmosche grandfathered in?
90 percent? OUCH
nobody messes w the jesus.
Are there any good reads out there on this whole financial crisis thing? Something from the Italian-Ameircan perspective would be of interest especially.
what did we do to deserve this?
-aig
@5 wondering the same thing.
-pandito
how is that supposed to trickle down? is he suggesting that the 2nd year associate who creates no value at RBC is to be paid more than the top performing MD…even if he is at a TARP baby? seems a$$ backwards to me. I thought the point was to get these firms to pay back the gov’t, not go under – which is what they will do when the “rainmakers” jump ship.
and someone please try to argue that no one is hiring. I’ve already had 3 calls this week from legit head hunters working for non-tarp institutions. so don’t step on my freshly polished shoes when you see me in line at the security desk ( ;
“is he suggesting that the 2nd year associate who creates no value at RBC is to be paid more than the top performing MD”
that’s exactly what i’m suggesting, fucker. problem?
-KF
hey vikram, how’s my ass taste?
-JD
ps you’re a jerk
suck it, bitches
-buyside
@ 10 = Asian
Go ahead leave the firm cause your comp has been cut…. and get on line at the outplacment firm with all of the rest of us. MBA & JD from Ivy with 27 years and a substantial book of business and so far I’ve gotten one offer at 60% of my last base. Bonus is negotiable, which means, Jelly of the Month Club.
Oh well… selling my place in Scarsdale and moving to our VT home. See Ya Biatches!!
I guess we can count on a 10% increase in divorce rates…at a minimum.
-Miss Oginist
@12 it’s great that you’re reconciled (outwardly) to having no value in the marketplace.
Keep that chin up, tiger!
@14 I am looking forward to a great ski season. See ya in the lift line. I’ll be the guy running the lift, if I’m lucky! Over and out!!
@12/15 Edgemont?
Cluzo@#7…
It seems to TGFD that #12 was a “rainmaker”, and just see where that got him.
The guest@#14 thinks he’s hot shit, but to use an expression coined by my good friend TOGFD, I’ll just say that #14 is merely an “asswipe”.
To others on DB, and with no sarcasm or malace intended…
May I ask how the jobs are on Wall St? Have any firms started hiring back? Are things getting better? Worse? TGFD hasn’t been around DB much lately, and I was just wondering.
The Guy from Delaware
TGFD – No you may not. Maybe. Maybe. Not a question. It’s been nice, and we didn’t ‘just wonder’ about when you’d be back.
Is Atlas being forced to shrug? That’s what happens when you put a community organizer in the WH.
#12 = troll.
No one that old reads this site.
Is Atlas being forced to shrug? That’s what happens when you put a community organizer in the WH.
CoveredLong@#18…
To be candid about the subject, I’ll just say that your incoherant opinion means nothing to TGFD. You speak for yourself, and I imagine that “we” would all be better served if you’d just STFU. WTF do you know, anyway?
No malice. No sarcasm. Just an observation.
The Guy from Delaware
@20 dead wrong (in general and about cluz, who’s been a regular here since DB started) but pls continue to talk out of your ass.
@20 = lift operator in 2 months. I’ll try to say thank you when you position the lift for my ass. But I probably won’t. Enjoy your $10K severance and thanks for playing.
@23 – De que estas hablando?
Assman @24 = Raj-Raj?