Friday, August 25, 2006

Henry R. Silverman

What a guy. As the ex-chief of Cendant, his compensation last year totaled $140,000,000. Last month, when he completed the spin-off of two operating units he received termination benefits of $62,700,000. When he retires in another 18 months he will get another huge payout. Cendant came public in 1997 and the stock reached a high of $4.36 on its first day of trading. Since that time, Mr. Silverman took in more than $500,000,000 from salary, bonuses, perks and stock options.

The stock closed yesterday at $2. Shareholders took it big time. Right in the you-know-where. Truly a pathetic example of greed gone wild.

I guess it's true. Money may not buy you happiness but it sure does allow a person to suffer in comfort.

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173