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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Location: The mouth of being

    I'm furious about my squandered nation.

    Saturday, May 17, 2008

    CEO Payout, however, is still Booming

    John Mack, Morgan Stanley
    After nearly $11 billion in write-downs last year and the first quarterly loss in company history, some investors demanded a showdown over Mack's pay. That confrontation didn’t materialize, and Mack survived without new limits.

    James Cayne, Bear Stearns
    Long before the recent meltdown, when Bear lost $10 billion in one day, the value of Cayne's stock had skyrocketed to about $1 billion and his compensation had reached $40 million.

    Bob Nardelli, Home Depot
    The mortgage crisis has made for tough times at Home Depot, which posted a drop in annual sales last year for the first time in three decades. Shareholders sued to stop Nardelli from leaving with a $210 million payout in 2007. Home Depot later settled.

    Stan O'Neal, Merrill Lynch
    Write-downs in the neighborhood of $30 billion over the past three quarters mean hard times ahead for ­Merrill. But O’Neal, the recently departed C.E.O., walked away from the mess in October with $162 million.



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