Ha ha ha!
- Re: No Banker Left Behindposted on 09/28/2008
- Re: Wall $treet Fat Cats (2)posted on 09/28/2008
- Re: Wall $treet Fat Cats (3)posted on 09/28/2008
- Re: Wall $treet Fat Cats (3)posted on 09/29/2008
- posted on 09/29/2008
Nice work — if you can get fired from it.
That's just what one Alan H. Fishman might have thought when he woke up Friday morning.
Fishman was the new chief executive officer for Washingon Mutual — WaMu — the nation's largest savings and loan, which was taken over Thursday night by federal bank regulators and quickly dumped in a fire sale to JPMorgan Chase for the Wal-Mart-like price of $1.9 billion.
But don't cry for Fishman, who reportedly was sky-high — literally — last night, on a flight from New York to Seattle, when WaMu collapsed. Even though he's only been on the job for less than three weeks, he's bailing out with parachute worth close to $20 million, according to an executive compensation analysis conducted for the New York Times by James F. Reda Associates.
That's right, $20 million for 17 days on the job ... and his company failed.
- posted on 09/29/2008
斯蒂芬森生於新西蘭,1983年移居倫敦任華寶銀行(S.G. Warburg)見習生,之後20餘年間曾在摩根史丹利等大行出任高職,主要從事策略發展、收購和投資等,入息豐厚。他與當地著名財金界專欄作家卡琳娜結婚9年,育有一名8歲兒子,家庭美滿。他自殺當天早上也似乎一切如常,與妻兒共享早餐,然後離家駕車往塔普洛車站。
早上9時許,趁一列時速達100英哩的高速火車駛入伯明翰郡塔普洛(Taplow)車站月台時跳軌,司機煞掣不及,列車從他身上輾過,送院證實死亡。
斯蒂芬森在倫敦高尚住宅區擁有一座5層高大宅,又在英格蘭西部郊區擁有一間別墅,總值360萬鎊。他是2006年成立的倫敦私募基金公司Olivant Advisers營呖偛眉娑隆Hツ瓯笔y行(Northern Rock)爆煲,Olivant Advisers曾挑戰維珍老闆布蘭森,考慮出手入股北石。今年6月,該公司又購入了瑞銀(UBS)2.5%股份。但次按危機令瑞銀撇帳問題不絕,股價持續下滑,在過去3個月市值已下跌了兩成,令Olivant帳面損失達1.8億鎊。
- posted on 09/29/2008
不到一年前,美林公司的斯坦利.奥尼尔离职时获得如今价值6600万美元的丰厚报酬。而现在,美林已经被美国银行收购。另外,今年6月,美国瓦乔维亚银行的肯·汤普森带着如今价值超过500万美元的“金色降落伞”(即对高层管理人员的退职补偿)请辞,查克.普林斯也带着1600万美元的报酬离开花旗银行。
上述几位都是美国银行界知名的前任CEO,在他们离开后,百年一见的金融海啸铺天盖地而来。
据悉,美国研究公司FusionIQ的CEO、著名财经博客《宏图》的作者巴里·里科兹表示:“之前就是这些人在冒险,但是现在他们却无需为自己的决策付出任何代价。”
离职金高达1.61亿美元
花旗银行的普林斯离职时带走了1400万美元的现金、150万美元的额外津贴和价值50万美元的股份。而在普林斯离职之前,花旗银行刚刚公布远超人们预期的巨额亏损。对此,花旗银行的发言人表示,普林斯的离职协议体现了他在过去30多年对公司所作出的贡献,以及他合法所得的退休补偿。
今年6月,美国瓦乔维亚银行的肯·汤普森带着如今价值超过500万美元的离职金请辞。虽然目前美国各界有关限制接受政府援助的金融机构高管薪水的呼声越来越高,但是事实上,不少华尔街高管早在金融海啸袭来之前,及时带着巨额离职金“逃之夭夭”。
美林公司前CEO奥尼尔的最后一年薪酬为4640万美元。他在2007年10月美林宣布亏损79亿美元后被迫请辞。他离开时带走的股份、期权和退休金在当时价值1.61亿美元,随着美股大跌,如今这些资产缩水为6600万美元左右。在奥尼尔离职后,美林三个财政季度亏损接近170亿美元,使得投资者面临 305亿美元的资产减值。
据报道,普林斯、奥尼尔和汤普森的继任者,已经不可能获得如此丰厚的“临别赠礼”。汤普森的继任者罗伯特.斯蒂尔(Robert Steel)在今年7月与瓦乔维亚银行签署协议,应允在离职时不会获得现金离职金。接替奥尼尔的约翰.泰恩也在去年12月时作出类似承诺。
国会着眼予以限制
美国众议院金融服务委员会发言人史蒂夫.亚当斯科表示,那些早已离职的CEO们不一定要退回巨额离职金,在这种情况下宪法上没有追讨离职金的相关规定。
有分析人士指出,美国政府的救市方案已将华尔街高管的巨额离职金问题带到人们关注的视野之中。这种不合理的薪酬制度将在金融危机、救市方案和新的行政管理制度的接连冲击下成为历史。 - posted on 09/29/2008
maya wrote:
That's right, $20 million for 17 days on the job ... and his company failed.
(Foxnews:http://www.foxnews.com/story/0,2933,428641,00.html)
His compensation of $20mil is not just for 17 days on the job. If you challenge that, you are challenging the whole value system on human resources. (I am not saying it is not right to do that.)
A market-sought-after human resource, eg. top CEOs, top analysts, top traders, top specialists, top doctors, etc., has a market value at any moment in the current job market. He may worth more if he was not "bailed out". It is unfortunately how this world runs now. And it is part of the challenge the bailout plan is facing. I supposed Obama / McCain has a detail plan how to change the whole system while keeping the boat running without throwing too many economy-class ticket holders over board nor keep them only in cabins without balconies. - Re: Wall $treet Fat Cats (4)posted on 10/02/2008
- Re: Wall $treet Fat Cats (5)posted on 10/02/2008
- posted on 10/02/2008
why not look at the whole list of fat cats (CEOs) -- top 50 of 2007 (Forbes)
(click on the header column to see the list sorted by the column, entries in Finance section are marked in red. )
Rank Name Company Pay ($mil) 5-Yr Pay ($mil) Shares Owned ($mil) Age Efficiency
1 Steven P Jobs Apple 646.60 650.17 500.2 52 36
2 Ray R Irani Occidental Petroleum 321.64 509.53 222.5 72 111
3 Barry Diller IAC/InterActiveCorp 295.14 5 512.27 209.0 65 177
4 William P Foley II Fidelity National Finl 179.56 NA 219.8 62 NA 5 Terry S Semel Yahoo 174.20 5 432.49 57.0 64 NA
6 Michael S Dell Dell 153.23 5,6 NA 5,367.3 42 NA
7 Angelo R Mozilo Countrywide Financial 141.98 5 295.73 43.3 68 107 8 Michael S Jeffries Abercrombie & Fitch 114.64 5 193.30 32.2 62 84
9 Kenneth D Lewis Bank of America 99.80 155.00 145.0 60 NA
10 Henry C Duques First Data 98.21 NA 36.2 63 NA
11 Harold M Messmer Jr Robert Half Intl 74.25 178.71 67.2 61 145
12 Lawrence J Ellison Oracle 72.42 235.72 22,800.4 62 157
13 Bob R Simpson XTO Energy 72.27 215.28 398.2 58 38
14 Richard M Kovacevich Wells Fargo 72.04 188.31 134.9 63 146
15 John T Chambers Cisco Systems 71.33 174.50 90.6 57 116
16 Gregg L Engles Dean Foods 66.08 103.00 94.4 49 44
17 Lew Frankfort Coach 65.86 265.20 227.1 61 29
18 Joseph H Moglia TD Ameritrade Holding 62.24 81.19 0.1 57 71
19 James Dimon JPMorgan Chase 57.17 NA 182.6 51 NA
20 William R Berkley WR Berkley 54.60 97.28 765.7 61 66
21 Richard S Fuld Jr Lehman Bros Holdings 51.65 311.88 753.9 61 151 22 Edward E Whitacre Jr AT&T 49.01 111.63 72.0 65 136
23 Robert J Ulrich Target 48.09 175.00 120.3 64 156
24 L Patrick Hassey Allegheny Technologies 44.24 58.41 2 33.9 61 NA
25 Edward H Linde Boston Properties 42.25 81.08 901.6 67 44
26 John D Finnegan Chubb 40.69 57.66 25.0 58 NA
27 Eli Harari SanDisk 38.98 75.48 128.8 61 38
28 H Edward Hanway Cigna 38.79 99.88 42.0 55 169
29 James E Cayne Bear Stearns Cos 38.31 155.26 965.9 73 104 30 George David United Technologies 37.85 240.30 118.7 65 125
31 Brian L Roberts Comcast 37.84 105.65 518.0 47 NA
32 Louis C Camilleri Altria Group 37.45 83.49 53.1 52 NA
33 Lloyd C Blankfein Goldman Sachs Group 37.05 NA 414.5 53 NA 34 E Stanley O'Neal Merrill Lynch 36.24 87.45 114.1 55 NA
35 J Willard Marriott Jr Marriott International 35.84 76.57 2,218.0 75 139
36 James J Mulva ConocoPhillips 35.53 110.09 183.4 60 121
37 Richard C Adkerson Freeport Copper 35.41 5 73.20 3 84.5 60 NA
38 Leslie H Wexner Limited Brands 34.74 55.95 1,254.7 69 127
39 Richard C Notebaert Qwest Communications 32.79 50.35 24.0 59 NA
40 John C Martin Gilead Sciences 32.51 87.84 58.3 55 27
41 Larry C Glasscock WellPoint 32.17 76.28 20.3 59 NA
42 J Terrence Lanni MGM Mirage 31.54 5 81.33 12.7 64 NA
43 David J Lesar Halliburton 30.28 85.31 45.3 54 182
44 Robert A Iger Walt Disney 29.93 NA 8.8 56 NA
45 Thomas J Matthews Intl Game Technology 29.91 36.43 2 31.8 42 NA
46 John W Rowe Exelon 29.82 75.91 37.5 62 46
47 Robert A Essner Wyeth 29.62 52.50 55.3 59 NA
48 Lewis B Campbell Textron 29.60 81.18 37.9 61 132
49 Robert I Toll Toll Brothers 29.35 155.39 563.5 66 122
50 Nicholas D Chabraja General Dynamics 29.12 96.55 124.7 64 117
Rank: orders in total compensation
Name: name of the CEO
Company:
Pay ($mil): Total Compensation
5-Yr Pay ($mil): Five Year Compensation
Shares Owned ($mil)
Age: Age of the CEO
Efficiency
Methodology:
Compensation rank is based on total compensation for latest fiscal year. Total compensation for each chief executive includes the following: salary and bonuses; other compensation, such as vested restricted stock grants, LTIP payouts and perks; and stock gains, the value realized by exercising stock options. Efficiency rank is based on our chief executive's performance/pay score. Ranks are given only to chief executives who have a six-year tenure and six-year compensation history. The most efficient rank is 1 and least efficient is 189. Compensation rank is based on total compensation for latest fiscal year.
Re: Wall $treet Fat Cats (5)posted on 10/02/2008
One day, a banker(entry level) told me after a few drinks,
" if you write a book about banker, every page has one
sentence: it sucks".
Re: Wall $treet Fat Cats (5)posted on 10/02/2008
Banker is one of the toughest job, and entry level ? it is the worst.
feiming wrote:
One day, a banker(entry level) told me after a few drinks,
" if you write a book about banker, every page has one
sentence: it sucks".
Re: Wall $treet Fat Cats (6)posted on 10/03/2008
Re: Wall $treet Fat Cats (7)posted on 10/03/2008
Re: Wall $treet Fat Cats (8)posted on 10/04/2008
Wall $treet Fat Cats (9)posted on 10/05/2008
Re: Wall $treet Fat Cats (10)posted on 10/07/2008
posted on 10/08/2008
Execs' posh retreat after bailout angers lawmakers
By ANDREW TAYLOR, Associated Press Writer
Tue Oct 7, 10:57 PM ET
WASHINGTON - Days after it got a federal bailout, American International Group Inc. spent $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown.
AIG sent its executives to the coastal St. Regis resort south of Los Angeles even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy. The resort tab included $23,380 worth of spa treatments for AIG employees, according to invoices the resort turned over to the House Oversight and Government Reform Committee.
The retreat didn't include anyone from the financial products division that nearly drove AIG under, but lawmakers still were enraged over thousands of dollars spent on outing for executives of AIG's main U.S. life insurance subsidiary.
"Average Americans are suffering economically. They're losing their jobs, their homes and their health insurance," the committee's chairman, Rep. Henry Waxman, D-Calif., scolded the company during a lengthy opening statement at a hearing Tuesday. "Yet less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation."
Former AIG CEO Robert Willumstad, who lost his job a day after the Federal Reserve put up the $85 billion on Sept. 16, said he was not familiar with the conference and would not have gone along with it.
"It seems very inappropriate," Willumstad said in response to questioning from Rep. Elijah Cummings, D-Md.
"Those executives should be fired," Democratic presidential candidate Sen. Barack Obama said at a debate with Sen. John McCain on Tuesday, referring to the retreat participants. Obama also said AIG should give the Treasury $440,000 to cover the costs of the retreat.
But Eric Dinallo, superintendent of the New York State Insurance Department, said he could see the value of such a retreat under the circumstances.
"Having been at large global companies and knowing what condition AIG was in ... the absolute worst thing that could have happened" would have been for employees and underwriters in its life insurance subsidiary to flee the company.
"I do agree there is some profligate spending there, but the concept of bringing all the major employees together ... to ensure that the $85 billion could be as greatly as possible paid back would have been not a crazy corporate decision," Dinallo told the House committee.
The hearing disclosed that AIG executives hid the full range of its risky financial products from auditors as losses mounted, according to documents released by the committee, which is examining the chain of events that forced the government to bail out the conglomerate.
The panel sharply criticized AIG's former top executives, who cast blame on each other for the company's financial woes.
"You have cost my constituents and the taxpayers of this country $85 billion and run into the ground one of the most respected insurance companies in the history of our country," said Rep. Carolyn Maloney, D-N.Y. "You were just gambling billions, possibly trillions of dollars."
AIG, crippled by huge losses linked to mortgage defaults, was forced last month to accept the $85 billion government loan that gives the U.S. the right to an 80 percent stake in the company.
Waxman unveiled documents showing AIG executives hid the full extent of the firm's risky financial products from auditors, both outside and inside the firm, as losses mounted.
For instance, federal regulators at the Office of Thrift Supervision warned in March that "corporate oversight of AIG Financial Products ... lack critical elements of independence." At the same time, PricewaterhouseCoopers confidentially warned the company that the "root cause" of its mounting problems was denying internal overseers in charge of limiting AIG's exposure access to what was going on in its highly leveraged financial products branch.
Waxman also released testimony from former AIG auditor Joseph St. Denis, who resigned after being blocked from giving his input on how the firm estimated its liabilities.
Three former AIG executives were summoned to appear before the hearing. One of them, Maurice "Hank" Greenberg — who ran AIG for 38 years until 2005 — canceled his appearance citing illness but submitted prepared testimony. In it, he blamed the company's financial woes on his successors, former CEOs Martin Sullivan and Willumstad.
"When I left AIG, the company operated in 130 countries and employed approximately 92,000 people," Greenberg said. "Today, the company we built up over almost four decades has been virtually destroyed."
Sullivan and Willumstad, in turn, cast much of the blame on accounting rules that forced AIG to take tens of billions of dollars in losses stemming from exposure to toxic mortgage-related securities.
Lawmakers also upbraided Sullivan, who ran the firm from 2005 until June of this year, for urging AIG's board of directors to waive pay guidelines to win a $5 million bonus for 2007 — even as the company lost $5 billion in the 4th quarter of that year. Sullivan countered that he was mainly concerned with helping other senior executives.
http://news.yahoo.com/s/ap/20081008/ap_on_go_co/meltdown_aigRe: Wall $treet Fat Cats (10)posted on 10/08/2008
七星和老瓦多贴。我这里传言多多,,什么5million支票,6million
支票,随便挥写。。。多是未经证实,也不可能证实。
要是九九年,就没得说了。现在是什么时候,这美元不贬才怪。
昨天老瓦一线里扯着扯着,扯成了“人民文革”理论,就是钱钟书说
的“文革人人有罪”,这样怎么行?
政府是干什么的,谁居上位享厚禄?谁是Market maker?
posted on 10/08/2008
雷曼前CEO Richard Fuld在公司的健身房锻炼时被人袭击,脸部遭拳击打。
CNBC的报导称,美国媒体人Vicki Ward披露说,在雷曼宣布破产后的那个星期日,Richard Fuld在公司健身房遭到攻击。这一消息得到雷曼公司内部资深人士的确认。在出席国会听证后,Fuld前往健身房锻炼。当他正在跑步机上跑步时。一名在傍边锻炼的男子走过来,挥拳击中Fuld的面部。
一名叫Ward的目击证人称:“坦率的说,看了Fuld在国会的听证后,我也很想扁他一顿。他太无耻了,简直是令人发指。他责怪每一个人,唯独没有责备自己。”
在国会的听证上,Fuld说,在被人整垮之前,他会一直质疑为什么美国政府不出手援救这家有158年历史的投行。他说,议员们对雷曼倒闭前所处的艰难困境非常清楚。
Fuld在国会的听证会上。
但是,听证会上,议员们对他的态度已经出离愤怒。民主党籍议员Henry Waxman问他:“你的公司现在破产了,我们的经济也乱套了,而你却依旧持有着4亿8000万的雷曼薪资和分红。我有一个非常简单的问题问你,你觉得这公平吗?”
Fuld说,实际是自己在过去8年了只得到3亿美元的薪资和分红,而不是4亿8000万。/黄明编译报导
posted on 10/08/2008
据说这是AIG的年度活动,他们Americal General分公司款待给他们卖保险agency的。AIG纽约总部没有一个Executives参加,Americal General方面去了三个。不很合时宜,但是并不是如文所说的活动。
AIG旗下的寿险不是问题部门,取消既定的business as usual活动恐怕在当前的局势下被“疏忽”了。
在AIG本身,毁了AIG的“老鼠屎”是AIG Financial Product,这个在伦敦运作的200来人的部门,其亏损使不久前还值1万亿的AIG愣是给充公了。保险巨人旗下的豪赌,混过了母公司的监管,使到保了无数豪赌的AIG其本身的冒险却没有投保。也是令人哭笑不得。AIG人寿保险的业务,包括上海起家的友邦保险现在也在AIG摆卖的地摊上了。
老瓦 wrote:
Execs' posh retreat after bailout angers lawmakers
By ANDREW TAYLOR, Associated Press Writer
Tue Oct 7, 10:57 PM ET
WASHINGTON - Days after it got a federal bailout, American International Group Inc. spent $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown.
=====
AIG Financial Products
Type: Subsidiary
On the web: http://www.aigfp.com Employees: 377
A subsidiary of insurance giant American International Group, AIG Financial Products is a market maker and trader in over-the-counter derivatives of stocks, bonds, credit, and commodities. The company also is active in the energy trading and foreign exchange markets. It operates outside the US through its subsidiary Banque AIG. It also offers economic research, pension strategies, online institutional trading, and municipal finance. In 2008 AIG Financial Products found itself at the center of controversy after its investments in credit default swaps, a type of debt insurance, collapsed/. It was one of many woes that compelled the Federal Reserve to float an $85 billion emergency loan to AIG to keep it solvent.
--------
Type: Wholly-Owned Subsidiary of American International Group, Inc.
Address: 2929 Allen Parkway, Houston, Texas 77019, U.S.A.
Telephone: (713) 522-1111
Toll Free: 800-242-1111
Fax: (713) 523-8531
Web: http://www.agc.com Employees: 7,500
Total Assets: $11 billion
Incorporated: 1926 as American General Insurance Company
NAIC: 524113 Direct Life Insurance Carriers; 524292 Third Party Administration of Insurance and Pension Funds; 522291 Consumer Lending
American General Corporation (AG) is one of the nation's largest insurance and financial services organizations. The company is the second-largest issuer of life insurance in the United States.
AG was bought in 2001 by American International Group, Inc. (AIG). AIG is a U.S.-based international insurer, operating in approximately 130 countries.
Re: Wall $treet Fat Cats (10)posted on 10/08/2008
thanks rep. I was also wondering if the politicians and media were trying to take advantage of the situation.
Re: Wall $treet Fat Cats (10)posted on 10/08/2008
dup.Re: Wall $treet Fat Cats (10)posted on 10/08/2008
After bailout, AIG sent executives to the spa
http://www.msnbc.msn.com/id/21134540/vp/27081189#27081189Re: Wall $treet Fat Cats (10)posted on 10/08/2008
Isn't this the same event the previous posting was talking about?
AIG wrote:
After bailout, AIG sent executives to the spa
http://www.msnbc.msn.com/id/21134540/vp/27081189#27081189Re: Wall $treet Fat Cats (11)posted on 10/09/2008
Re: Wall $treet Fat Cats (11)posted on 10/09/2008
看来除了七星,John Mack也是个好同志。posted on 10/09/2008
Actually, the ones who went to the resort are not executives, but a group of high performance agents.
The politicians and media did not bother to check the fact. Even after someone pointed out the mistake, they just ignore it.
rzp wrote:
Isn't this the same event the previous posting was talking about?
AIG wrote:
After bailout, AIG sent executives to the spa
http://www.msnbc.msn.com/id/21134540/vp/27081189#27081189posted on 10/09/2008
天可怜见的,难怪我们穷人要嫉妒华尔街,这种奢华的活动原来是普通的、周期性的、日常的工作。媒体给我们的印象是他们拿了一次钱,偶一为之,媒体错了,我们也错了。华尔街就是华尔街。
这星期最荒谬的事情是citi诉wells fargo的60b,不知道这个消息怎么就没了。我就纳闷儿了,citi自己在政府的扶持下准备用2b买那个walawala银行,尚未成交,wells fargo仗着自己精心运营,不做高风险的赌博,落得手中尚有不少银两,便拿出15b来抢购walawala银行,并且不要政府的支撑。citi是如何算出来要让wells fargo赔偿60b的?是他们在政府的支撑下原本可以白得60b,还是说流氓成性,只要对方家里有60b,就赖他60b?不是这次闹腾我还没有这么鄙视华尔街。
pepper wrote:
Actually, the ones who went to the resort are not executives, but a group of high performance agents.
The politicians and media did not bother to check the fact. Even after someone pointed out the mistake, they just ignore it.
rzp wrote:
Isn't this the same event the previous posting was talking about?
AIG wrote:
After bailout, AIG sent executives to the spa
http://www.msnbc.msn.com/id/21134540/vp/27081189#27081189posted on 10/09/2008
苦瓜 wrote:
天可怜见的,难怪我们穷人要嫉妒华尔街,这种奢华的活动原来是普通的、周期性的、日常的工作。媒体给我们的印象是他们拿了一次钱,偶一为之,媒体错了,我们也错了。华尔街就是华尔街。
这星期最荒谬的事情是citi诉wells fargo的60b,不知道这个消息怎么就没了。我就纳闷儿了,citi自己在政府的扶持下准备用2b买那个walawala银行,尚未成交,wells fargo仗着自己精心运营,不做高风险的赌博,落得手中尚有不少银两,便拿出15b来抢购walawala银行,并且不要政府的支撑。citi是如何算出来要让wells fargo赔偿60b的?是他们在政府的支撑下原本可以白得60b,还是说流氓成性,只要对方家里有60b,就赖他60b?不是这次闹腾我还没有这么鄙视华尔街。
Funny thing is that this resort has nothing to do with wall street.
This resort is for the top performing agents of the life insurance, i.e. those agents who sold the most life insurance for the company. These people are NOT executives,
NOR they are wall street traders. Most companies have such events for their top sale people.
苦瓜 is again thinking with heart not with mind, which is of course much better than the politicians who think with their bottoms.
posted on 10/09/2008
这件事儿跟华尔街无关,保险公司是乡下农民开的?卖保险卖得好就值得用这么奢侈的方式奖励,教书教得好的得到了什么?还嫌这个社会不够乱的,不够荒谬野蛮的,存在的就是合理的?每家公司都这么奖励他们的销售员就应该持续下去?每家公司的ceo都拿高薪就让他们接着拿?
这世界还有没有逻辑了?
给自己取个名字叫好笑就有幽默感了?
funny wrote:
Funny thing is that this resort has nothing to do with wall street.
This resort is for the top performing agents of the life insurance, i.e. those agents who sold the most life insurance for the company. These people are NOT executives,
NOR they are wall street traders. Most companies have such events for their top sale people.
苦瓜 is again thinking with heart not with mind, which is of course much better than the politicians who think with their bottoms.
posted on 10/09/2008
苦瓜 wrote:
这件事儿跟华尔街无关,保险公司是乡下农民开的?卖保险卖得好就值得用这么奢侈的方式奖励,教书教得好的得到了什么?还嫌这个社会不够乱的,不够荒谬野蛮的,存在的就是合理的?每家公司都这么奖励他们的销售员就应该持续下去?每家公司的ceo都拿高薪就让他们接着拿?
这世界还有没有逻辑了?
给自己取个名字叫好笑就有幽默感了?
You don't know that the top sales people are mostly valued by their employers? Besides the annual resort things, they also often get 1%-2%, sometimes as high as 5% of the sales they generated.
posted on 10/09/2008
对,这些人当然是有价值的,拉更多的钱来让他们一起玩儿,我就不用街上的俗语来描述了。不就是忽悠吗?他们也用不着说实话,反正最后公司砸了有政府顶着,政府垮了有上帝撑着。我见过不少卖保险的,咱不都躲着他们走吗?
你就是说这些东西是合理的,现在这个行业都乱成这样了,你能说服我么?要不是这些人有这么高的回扣,我们的保险有那么贵吗?老瓦另一条线说得淋漓尽致,我就不锦上添花去捧场了,我彻底赞同老瓦的意见。其他的说法都是瞎胡扯。
funny wrote:
You don't know that the top sales people are mostly valued by their employers? Besides the annual resort things, they also often get 1%-2%, sometimes as high as 5% of the sales they generated.
posted on 10/09/2008
支持苦瓜,反对过度自由!
公平公正是社会崇高的理想和目标。很多人都信仰自由,认为自由是实现社会公平公正的有效途径。而我通过对社会的观察与思考,发现自由在实现社会公平公正方面有很大局限。特别是,不少群体假借自由的名义,谋取不光彩利益,Wall $treet Fat Cats 就是典型。
对称与不对称是科学里很重要的概念,许多诺奖获得者其研究都与此有关,比如信息不对称,宇宙不对称,物质不对称等。
不对称在社会学里也是常见的现象,比如信息不对称,专业能力不对称,权力不对称。如果对这些不对称采取自由的态度,社会就无法实现公平公正。
下面我通过对市场经济中普通员工和CEO的不同薪酬机制来说明这个问题。
在市场经济里,普通员工的薪酬由市场竞争决定。
(未完)
苦瓜 wrote:
对,这些人当然是有价值的,拉更多的钱来让他们一起玩儿,我就不用街上的俗语来描述了。不就是忽悠吗?他们也用不着说实话,反正最后公司砸了有政府顶着,政府垮了有上帝撑着。我见过不少卖保险的,咱不都躲着他们走吗?
你就是说这些东西是合理的,现在这个行业都乱成这样了,你能说服我么?要不是这些人有这么高的回扣,我们的保险有那么贵吗?老瓦另一条线说得淋漓尽致,我就不锦上添花去捧场了,我彻底赞同老瓦的意见。其他的说法都是瞎胡扯。
Re: Wall $treet Fat Cats (12)posted on 10/11/2008
Re: Wall $treet Fat Cats (13)posted on 10/14/2008
Re: No Banker Left Behindposted on 10/17/2008
posted on 10/18/2008
Pay and bonus deals equivalent to 10% of US government bail-out package
Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year - despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned.
Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bail-out from the US government that has already prompted criticism. The government's cash has been poured in on the condition that excessive executive pay would be curbed.
Pay plans for bankers have been disclosed in recent corporate statements. Pressure on the US firms to review preparations for annual bonuses increased yesterday when Germany's Deutsche Bank said many of its leading traders would join Josef Ackermann, its chief executive, in waiving millions of euros in annual payouts.
The sums that continue to be spent by Wall Street firms on payroll, payoffs and, most controversially, bonuses appear to bear no relation to the losses incurred by investors in the banks. Shares in Citigroup and Goldman Sachs have declined by more than 45% since the start of the year. Merrill Lynch and Morgan Stanley have fallen by more than 60%. JP MorganChase fell 6.4% and Lehman Brothers has collapsed.
At one point last week the Morgan Stanley $10.7bn pay pot for the year to date was greater than the entire stock market value of the business. In effect, staff, on receiving their remuneration, could club together and buy the bank.
In the first nine months of the year Citigroup, which employs thousands of staff in the UK, accrued $25.9bn for salaries and bonuses, an increase on the previous year of 4%. Earlier this week the bank accepted a $25bn investment by the US government as part of its bail-out plan.
At Goldman Sachs the figure was $11.4bn, Morgan Stanley $10.73bn, JP Morgan $6.53bn and Merrill Lynch $11.7bn. At Merrill, which was on the point of going bust last month before being taken over by Bank of America, the total accrued in the last quarter grew 76% to $3.49bn. At Morgan Stanley, the amount put aside for staff compensation also grew in the last quarter to the end of August by 3% to $3.7bn.
Days before it collapsed into bankruptcy protection a month ago Lehman Brothers revealed $6.12bn of staff pay plans in its corporate filings. These payouts, the bank insisted, were justified despite net revenue collapsing from $14.9bn to a net outgoing of $64m.
None of the banks the Guardian contacted wished to comment on the record about their pay plans. But behind the scenes, one source said: "For a normal person the salaries are very high and the bonuses seem even higher. But in this world you get a top bonus for top performance, a medium bonus for mediocre performance and a much smaller bonus if you don't do so well."
Many critics of investment banks have questioned why firms continue to siphon off billions of dollars of bank earnings into bonus pools rather than using the funds to shore up the capital position of the crisis-stricken institutions. One source said: "That's a fair question - and it may well be that by the end of the year the banks start review the situation."
Much of the anger about investment banking bonuses has focused on boardroom executives such as former Lehman boss Dick Fuld, who was paid $485m in salary, bonuses and options between 2000 and 2007.
Last year Merrill Lynch's chairman Stan O'Neal retired after announcing losses of $8bn, taking a final pay deal worth $161m. Citigroup boss Chuck Prince left last year with a $38m in bonuses, shares and options after multibillion-dollar write-downs. In Britain, Bob Diamond, Barclays president, is one of the few investment bankers whose pay is public. Last year he received a salary of £250,000, but his total pay, including bonuses, reached £36m.
Re: No Banker Left Behindposted on 10/19/2008
Re: No Banker Left Behindposted on 10/19/2008
看来我公司听来的谣传不虚。这新一轮的暴炸富,真让我想起四九年
国民党退却。那时我中学有位同学的外爷,军长级的,也没能赶上飞
机。银子没捞够?家属带不上去,时间也不够(晚了一刻钟)。
最后,给共军一枪了决。
最近新共军的暴富也传奇。前两天还听说有新官上任(厅级),两年
财富暴涨百倍。豪宅有三五幢,奶有多少不知,以前住公寓的。
数字经济,金融就是让一部分人暴富的大鱼网嘛。
再加上政治。。。唉,就是打起仗来,人家也是最能杀人的。
一个字,服!Re: No Banker Left Behindposted on 10/20/2008
SevenStar seems obsessed and mad with Wall Street, while ignoring the fact that all these fat bonus are for previous years.
By the way, most of Lehman CEO Dick Fuld 2007 compensation is in Lehman stocks, and he did not sell a single share when it collapsed. That means he suffered a big loss as well.
posted on 10/21/2008
是呀,是呀,咱也听说了。狄克同志股票亏惨了,这几年他才剩下三亿美元现金呀。咳,三亿哪够开销地,这日子可怎么过?想起来就要陪你流泪。
这样吧,咱先开张支票,聊补狄克同志无米之炊。你看写多少,7000亿够吗?
8Star wrote:
SevenStar seems obsessed and mad with Wall Street, while ignoring the fact that all these fat bonus are for previous years.
By the way, most of Lehman CEO Dick Fuld 2007 compensation is in Lehman stocks, and he did not sell a single share when it collapsed. That means he suffered a big loss as well.
Re: No Banker Left Behindposted on 10/31/2008
posted on 11/01/2008
眼下的金融危机或许并未如像想象中的那样影响到华尔街员工——尤其是那些华尔街大佬们的腰包。华尔街券商通常有一条约定,即员工约60%的薪资和福利将以年终奖金的形式派发,据悉,美林目前已经准备约67亿美元用以派发奖金,高盛集团和摩根士丹利也已拨出约130亿美元奖金款项。即使上月已申请破产的雷曼兄弟的部分员工今年的奖金也将与去年相同。
据悉,华尔街最大券商高盛已拨出约68.5亿美元的奖金,人均水平超过21万美元,去年人均奖金收入则近34万美元,今年比去年下降约32%。规模紧随高盛之后的摩根士丹利也已经拨出64.4亿美元留作奖金备用,人均水平接近14万美元,较上一年下降20%。两家公司总奖金额预计较去年同期下降28%。
而美林将发放的奖金则达到人均11万美元,甚至比去年的人均水平还略有增加,原因在于该公司裁掉了超过3000名员工。美林发言人 Jessica Oppenheim 表示,美林的奖金水平之所以没有像高盛和大摩那样出现大幅下降,原因在于公司去年削减了成本,今年工资成本相较于2006年前九个月已下降了18%。
Egon Zehnder International 金融业招聘部门负责人 Robert Sloan 表示,关键员工和重要经理人将拿到和去年同样多的奖金,但其他人的奖金则会大幅削减。
联想到前不久AIG在获得美国政府注资850亿美元及 378亿美元之后,其高层甚至花费44万美元去加州度假,花8.6万美元去英国狩猎,如此做派,难免不使纳税人心寒。
Re: 华尔街年终奖仍有200亿美元 人均水平超21万美元posted on 11/09/2008
Re: 华尔街年终奖仍有200亿美元 人均水平超21万美元posted on 11/09/2008
其实,一点也不奇怪,美联储完全就是个私人银行吗,国家没有任何股份,不过是他的一个永久债主,用老百姓的税去付美联储的利息。
这不过是银行家对老百姓的又一次,也是最大的一次抢劫罢了。
其实,美国老百姓最可怜了,存的退休金都会被这些银行家抢了去。
美国最大的改革其实应该是退休制度的改革。posted on 11/23/2008
Maurice "Hank" Greenberg, who last month relinquished his posts as chairman and chief executive of American International Group Inc. ( AIG) amid intense regulatory scrutiny, reported Tuesday a gift of 41.4 million company shares to his wife, Corinne P. Greenberg.
According to a filing released by the Securities and Exchange Commission, the transaction took place March 11, three days before insurance titan AIG announced Greenberg had retired as president and CEO. The company said later in the month that Greenberg also would retire as chairman.
The shares Greenberg gifted to his wife are worth $2.2 billion at AIG's closing share price Tuesday of $53.20 .
......Greenberg directly held 1.95 million AIG common shares after the transactions, and about 65.1 million shares indirectly, according to the filing.
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