Wall Street shenanigans are alive and well. As well, the boys in the corporate boardrooms who fly off in the corporate jets every weekend to play golf are still up to their old tricks of fleecing the common shareholder.
I don't have a clue when or how shareholders will actually reign in the nonsensical compensation packages afforded many of these captains of industry but it is overdue. The dissconnect between how much shareholders make in stock gains versus how much the top cats make in compensation is truly astounding.
Le's look at one case with a fairly big stock. This fat cat running Pfizer is a fine example. Over the past 5 years the guy pulls over $60,000,000 in compensation and then when "his" Board of Directors can't stomach any more pain they "reward" the dude with an $80,000,000 plus severance package. Meanwhile the stock price tanks 40%.
Not bad work if you can get it.
CEO & Partner, Parisian Family Office. Began Wall Street career in 1982. Founded investment firm, Native American Advisors, 1995. White Earth Chippewa, Tribal Member. Raised on reservations. Conservative. NYSE/FINRA arbitrator. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, TN farm, Pamelot or CASA TULE', their winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.
No comments:
Post a Comment