Hello All Just heard this on the news so i went to verify it and here is the story:
--------------------------------------- Alan Fishman, the CEO of Washington Mutual Inc. for only a few weeks before the Seattle-based thrift failed, would be entitled to $19.1 million in severance and bonus pay. Two other top WaMu executives have clauses in their employment agreements that would also pay them a total of $19 million in cash severance if they are terminated by JPMorgan Chase & Co. WaMu, which has 67 branches in Oregon, was seized by federal regulators and sold to JPMorgan Chase & Co. Sept. 25. According to a WaMu filing with the Securities and Exchange Commission, Fishman, who replaced Kerry Killinger as WaMu CEO on Sept. 8, signed an agreement that would pay him a cash severance of $11.6 million if he is terminated this year or resigns. He also would be allowed to keep his $7.5 million signing bonus. --------------------------------------- So Mr. fishman would get $19.1 million for 18 days of work, 14 days if you exclude the weekend. lets say he did manage to put in 10 hours a day, that's 140 hours so if you so the math that's $136,428 per hour. Whatever happened that the captain of the ship is the last one to set off when the ship is sinking. Instead all we are seeing is the captains to be the first of the sinking ship. Whatever happened to the Victorian values of women and children first. When and where does free-market ends, and common sense begin. Yes these CEOs are legally entitled to their contracts, but am I wrong in thinking that under the circumstance doing what is RIGHT is more important. Khaled ____________________________________________________________ Free quote and debt consolidation information. Click Here. http://thirdpartyoffers.juno.com/TGL2141/fc/Ioyw6i3m2Xhj5ojpsJbQ30GL5jEAbnCxAsiCAnWqaVIjboTbBxobsI/ Moq_Discuss mailing list Listinfo, Unsubscribing etc. http://lists.moqtalk.org/listinfo.cgi/moq_discuss-moqtalk.org Archives: http://lists.moqtalk.org/pipermail/moq_discuss-moqtalk.org/ http://moq.org.uk/pipermail/moq_discuss_archive/
