It's good to be king
According to CNN Money, WaMu’s brand spankin’ new CEO, Alan Fishman, now stands to walk away from the failing firm with more than 18 million dollars in salary, bonuses and severance. He’s been on the job all of three weeks. I have two questions. Is he single? Or is he looking to adopt? For Christ’s sake, it’s no wonder these firms are all folding.
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Wow
That is really messed up. Someone needs to cut the strings on that golden parachute.
Agreed. The guy takes over a
Agreed. The guy takes over a sinking vessel and makes out like a bandit when if fails three weeks later.
News like this is just what we do not want to see at this point. Fishman needs to decline it.
decline it ... is that a joke
Agreed. The guy takes over a sinking vessel and makes out like a bandit when if fails three weeks later.
News like this is just what we do not want to see at this point. Fishman needs to decline it.
hahahaha ... i would like to see you decline 18 million
what hypocrites. everyone on
what hypocrites. everyone on this forum (me included) would jerk off with sandpaper to get an 18 million dollar golden parachute
"There is only one bottom line -- how much money you make."
Ouch!
Ouch, that would be very painful.
Not unless
Ouch, that would be very painful.
Not unless you used the opposite side of the sandpaper. the smooth side.
but..I wouldn't turn down $18 million, why the hell is he getting it?
they need to start instituting a clause that doesn't reward failures.
..this is ridiculous.
If he takes it in this market environment
it'll cause a riot worse than when Detroit wins the NBA championship!
I've read the terms of his deal, and it's unlikely he'll meet the criteria for $18 mil. But, based on the terms of his deal, it is highly likely he could walk away with 5 or 6 mil after only 3 weeks.
I think if he takes the dough it will cause a shit-storm of epic proportions. That said, I'd probably take it.
It's all relative. I'm not
It's all relative. I'm not sure what his personal wealth is currently, but $6 million pre-tax could be a large price to pay for international public humiliation. Of course, as a recent college grad, I'd probably reach for the sandpaper. Or you could take the guy from Stern's approach (see Monkeying Around forums).
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CompBanker