Merrill CEO wants $10 million bonus
- Thread starter ga_ben
- Start date
And of course those bonus's are taxed at the cap gain rate of about 14% not the income tax rate. What a joke! The guy makes $750,000 a year in salary. You know the amount he is fully taxed on like the rest of us. The !0 mil is only taxed at the capital gain rate of 14% less than what we working people pay. The guy drives the company into the ground but says it would have been worse if he wasn't there so this "achiver" deserves a $10,000,000 bonus. :shrug:
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CEO bonuses are taxed as ordinary income.
What you are probably thinking of is the "carried interest" compensation that equity and fund managers earn. It is taxes at the lower cap gains rate. Only CEOs in these industries can get it, and Congress long been thinking of changing this loophole.
would be best tho if shareholders could render this fix themselves. As Leo Hindery Jr wrote:
Congress should immediately grant public shareholders the rights, on their own, to call a shareholders' meeting to vote out the current board and to render an advisory vote on executive compensation ? rights that they don't currently have. Much better than any other similar measures contemplated or previously adopted, these three rights, which are already in place and working well in Britain, would align shareholder and management interests as to both governance and executive compensation.
What you are probably thinking of is the "carried interest" compensation that equity and fund managers earn. It is taxes at the lower cap gains rate. Only CEOs in these industries can get it, and Congress long been thinking of changing this loophole.
would be best tho if shareholders could render this fix themselves. As Leo Hindery Jr wrote:
Congress should immediately grant public shareholders the rights, on their own, to call a shareholders' meeting to vote out the current board and to render an advisory vote on executive compensation ? rights that they don't currently have. Much better than any other similar measures contemplated or previously adopted, these three rights, which are already in place and working well in Britain, would align shareholder and management interests as to both governance and executive compensation.
shouldn't CEO's be paid based upon their company making money?
This guy is crazy, maybe they will give him a pink slip and a check for $1.00
This guy is crazy, maybe they will give him a pink slip and a check for $1.00
I guarantee that, aside from Terry Ray, no one that posted in this thread actually knows any specifics on this situation.
This CEO orchestrated the sale of Merryl at nearly $30/ share. Shares now trading at $15 or so. He saved his shareholders a bunch of $$$$ . Maybe this guy actually earned the bonus:shrug:
Also, Merryl was a house of cards like the rest when he got in as CEO last year, so the drop from $50/ share can't be blamed solely on him.
I'lll let you guys get back to bashing the rich........
This CEO orchestrated the sale of Merryl at nearly $30/ share. Shares now trading at $15 or so. He saved his shareholders a bunch of $$$$ . Maybe this guy actually earned the bonus:shrug:
Also, Merryl was a house of cards like the rest when he got in as CEO last year, so the drop from $50/ share can't be blamed solely on him.
I'lll let you guys get back to bashing the rich........
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Cie,
I'm not bashing the guy because he's rich. Thats great for him. I am appalled at his decision to ask for a $10 million bonus in this current economic climate with so many people in the financial services sector out of work, including BOA and Merrill. Yes he and his team negotiated the merger with Bank of America and saved the firm. That is commendable. That is also his JOB. He also has a large equity position in Merrill, over 700K shares, so it was in his best interest to negotiate a merger, else he lose it all. Certainly someone as smart as him could've anticipated the outrage, not to mention the bad press, this would garner for his company. He's already backed off on requesting the bonus. Maybe he realized it was the wrong decision at the wrong time. I only know what I've read in regards to specifics. Perhaps you can enlighten us as to why he should get the bonus.
Ben
He orchestrated the sale of Merryl at $30/share saving his shareholders billions. 10 mill is a drop in the well when we're talkin' 25 billion, no:shrug:
I'm not saying he definitely deserves it, but given the sale he oversaw, it sure seems like he might. It doesn't matter now anyway
this guy is the poster boy for the bush/cheney base... if it doesn't make sense & you can make money on the backs of working America; go for it ! the average American got slaughtered in the market and this guy guy wants more..... figures... no one is accountable or responsible.... just get what you can and run... every man for himself... this guy is what ledership is all about in bush/cheney America... Obama is going to ruin whats left of the country..... RIGHT ! HOW do they defend bush/cheney & cry about what Obama MIGHT do ? The bush/cheney backers can't believe what they think Obama supporters let him get away with.... They have to remember this.... Obama was made possible by bush/cheney !
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