If you haven’t already please read part 1.
How does a CEO end up with a bonus in the ten to hundreds of millions of dollars range? Why does the Board of Directors approve such outrageous payouts? Well…
Any of them might be the next CEO & they all drool over that possibility.
Increased [...]
Merrill Lynch lost $11 billion this year and the CEO requested a $10 million bonus. The Board of Directors was actually considering it before the CEO withdrew the request amid a firestorm of criticism.
Was there ever any possibility that lower level employees at Merrill Lynch would get a bonus? The bonus for 4000 Merrill Lynch [...]
Merrill Lynch Was considering giving John Thain, its CEO, a $10 million BONUS, thats in addition to his salary of $83 million. Merrill Lynch explained it by saying that he made the stockholders including himself money by selling Bank of America. To me selling assets doesn’t really deserve praise. Anybody could sell something they own [...]
A recent news article I read showed the yearly income of nine CEOs of major corporations like Merrill Lynch, Wachovia, Washington Mutual and so on. It also gives the current salary of Warren Buffett, the richest man in the world.
