Originally posted by: LegendKiller
You didn't hit any nerve, just countering your silly post. The severance was created in a contract before, I have never denied or ignored that. I find it humorous that your only attempt at countering any logic is that you just try to talk around the points. I said $210 is more than anybody should get and he got it through a contract written up by his buddies. He was a top c-level employee at a non-retail, non-P&L role. This is a significant difference considering most employees that do end up in that type of stretch role are usually unable to follow through, look at Catherine West at JC penny.
Another example of you talking around points. You seem to think I say that managers are lazy, when in fact I imply that they are in league or simply don't want to buck a trend, it helps them in multiple ways and I really don't think they care too much for investors, by and large.
I would love to see those quotes, please forward them to my mail box.
I happened upon a very timely Times article a couple of days ago, ironic as I rarely read the Times. It detailed one of the driving forces behind the current increasing CEO pay packages, and it wasn't board member collusion...
Public companies have to compete with PE firms for quality C-level executives. Frissora at Hertz received over $33MM in comp in under 6 months to leave Tenneco. Drexler at J. Crew has received $300MM+ since leaving Gap. They quote Henry Silverman of Cendant fame as claiming his next job will not be with a public company. Even David Calhoun, a GE contemporary of Nardelli's, has a $100MM+ package. Finally, they mention that Nardelli has already been offered more money from PE firms in need of his services.
And this is all while not having to worry about public company regulations and red tape. Even Hank Paulson endorsed a softening of regulations on public companies last month. I'm actually shocked that these recent public CEO pay packages surprise anyone remotely versed in recent business events. Public companies not only have to overcompensate because CEOs receive greater scrunity compared with a private company, but significant ownership opportunities are much more abundant via the private route.
And don't expect it to end any time soon. PE firms are becoming larger and more active every week. Half my friends from college are in investment banking hoping to lateral into a PE firm or HF as soon as possible or have done so already, so I know full well how the need for public money is diminishing. This economic climate can only result higher pay packages at both the private and public levels.
And here's the PM...
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Originally posted by: LegendKiller
No, I have never posted my salary, nor would I ever do so.
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Originally posted by: LegendKiller in What are your thoughts and experiences w/Financial certs/degrees? (CFA/CFP/MBA/CPA)
After my MBA, my first job sucked (40's) and my next job doubled my salary after 50% of raises from the first job. I expect my salary to keep going up, albiet not quite as fast.
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Originally posted by: LegendKiller in How much do you make with your career?
27, masters, 110+
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