No raise for me!!! -Pandit
While anti-money liberals aneurysm upon reading WSJ's highest paid CEO's list, I, swimming in envy, noticed something peculiar.
Blah blah blah... Larry Fink made $23,650,000.....Yadda yadda yadda... Jamie made $23,000,000... The Dark Lloyd made $16,710,000.... Thain $7,000,000... Pandit... $1....
A dollar? Wasn't he supposed to get a raise?
Citi’s CEO declined substantial compensation for 2009 and 2010. As announced in February 2009, CEO Vikram Pandit has earned base pay at a rate of $1 per year and declined any other compensation until Citi has returned to sustained profitability. The personnel and compensation committee (the committee) determined that Mr. Pandit’s performance in 2010 merited an incentive award, but the committee respected Mr. Pandit’s decision and awarded no additional compensation for 2010.
That's right, despite earlier reports that Vikram Pandit would finally be making more than a 5 year old in a Chinese sweatshop, Citi's SEC filings say that Vikram Pandit himself declined the hefty raise.
This speaks a lot for the man. Either he's still unhappy about how things are going there or he's just another glutton for punishment, but either way, would you have done the same?
You cannot deny that he has done good things for Citi lately, I know its not exactly GS 2.0 but last time I checked they've pulled quite the turnaround and were booking some handsome profits, so he sure as hell deserved it.
If you were in his shoes would you consider taking a dollar when you could've made $1.7 million?
Lord knows I need a few more zeros in my bank account.
Wonder what would Lloyd have done? Heh.
Have a good one WSO.
Lloyd would never have stood for $1 in the first place... I mean how do you expect him to do God's work without receiving a godly paycheck?
A dollar goes a long way in his hometown.
Not anymore. http://www.global-rates.com/economic-indicators/inflation/consumer-pric…
"Don't raise me, DON'T RAISE ME BRO!" -Pandit to the committee
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