Wall Street shenanigans are alive and well. As well, the boys in the corporate boardrooms who fly off in the corporate jets every weekend to play golf are still up to their old tricks of fleecing the common shareholder.
I don't have a clue when or how shareholders will actually reign in the nonsensical compensation packages afforded many of these captains of industry but it is overdue. The dissconnect between how much shareholders make in stock gains versus how much the top cats make in compensation is truly astounding.
Le's look at one case with a fairly big stock. This fat cat running Pfizer is a fine example. Over the past 5 years the guy pulls over $60,000,000 in compensation and then when "his" Board of Directors can't stomach any more pain they "reward" the dude with an $80,000,000 plus severance package. Meanwhile the stock price tanks 40%.
Not bad work if you can get it.
No comments:
Post a Comment