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-   -   Executive $100M payday post bailout (http://www.wakeworld.com/forum/showthread.php?t=790875)

Shooter 11-15-2011 8:58 AM

Executive $100M payday post bailout
 
http://cnnmoney.mobi/primary/wk_arti...es&pagesize=10

guido 11-15-2011 9:56 AM

Have these people really not figured it out. C'mon.

Makes you wonder, doesn't it?

Bonus' are for people in profitable companies. If you can't make money, you can't have a bonus. Isn't there anyone in gov't that cares?

jason95gt 11-15-2011 10:12 AM

And they wonder why the American population hates the government.

seattle 11-15-2011 11:25 AM

No incentive for the government to intervene. As long as guys like him continue to provide insider trading information to those who have a hand in the bail outs they'd be crazy to make waves. Ethical... no legal... you betcha. Worst part is voters are so polarized to the corruption that nobody really gives a crap enough push for reform.

cadunkle 11-15-2011 11:28 AM

Quote:

Originally Posted by guido (Post 1718255)
Bonus' are for people in profitable companies. If you can't make money, you can't have a bonus. Isn't there anyone in gov't that cares?

Those companies were profitable... They goat boatloads of free money. The execs helped bring that in. In that regard the executives saved the day by ensuring those banks got the money they needed to get them out of their hole. They were rewarded handsomely for their hard work. This is exactly how markets and businesses work. You can't fault those companies or their management at all.

Maybe Americans will learn that fascism doesn't work and actually pay attention to who they vote for... Nah, that will never happen. We'll get another neocon, socialist, or fascist. Welcome to USSA.

acurtis_ttu 11-15-2011 1:07 PM

I'm with you Evan....I'd really like to ask the CEO's why they desrve to be paid a bonus? Can you justify and support your salary to me? I can easily answer these questions at my job.

Maybe there's more to the story??? did they reduce loses? ect??

jarrod 11-15-2011 2:32 PM

Mortgage Insurance companies picked up a lot of the tab. My wife is a product manager for a mortgage insurance company. Her job is hanging by a thread. This week they are supposed to announce the 4th round of layoffs.

ttrigo 11-15-2011 2:45 PM

if your comany received a bailout, no one should get a bonus, period. bailouts are meant to keep businesses afloat and keep people employed. they are not meant to cover the expenses of the already highly paid execs.
keep in mind, I have zero issues with the salaries they are being paid. my issues are with bailout money covering bonus'.

fly135 11-15-2011 2:53 PM

Quote:

Originally Posted by acurtis_ttu (Post 1718286)
Maybe there's more to the story??? did they reduce loses? ect??

There probably is more to the story. My guess is that these guys signed on after the crash and were promised the bonuses to meet certain criteria. The real beef is with a govt that is willing to prop up these organizations and promise massive amounts of money to hire someone to fix a money loser for the benefit of investors.

It would be absolutely insane is the guys in that article were the same as the ones who created the mess. But insanity isn't out of the question.

phatboypimp 11-15-2011 5:14 PM

Although the payments are egregious - it simply comes down to recruiting the right people to right the ship. I would suspect that some of those were people brought in to manage the turn-around and some of those are legacy employees who understand the IP of the business. It is shocking to think about that much money, but you are dealing with financial services executives in a financial services business - and they get paid. If they want the "right" talent they have to pay for it or someone else will. If you want A-players to turn it around - you have to be competitive. Although it is counter intuitive the reality is they have to pay them on MBOs - which I am sure are based on financial performance but not exclusive to being profitable.

A bigger question for me is the amount of compensation that the USPS pays its people although it loses Billions of dollars a year. Sorry side rant.


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