Insane Money
Friday, December 15, 2006
Saw this article posted on CNN.
- Is John Mack worth $40 million?
When a CEO takes home tens of millions, even after a great year, some critics wonder if it's worth it.
By Rob Kelley, CNNMoney.com staff writer
December 15 2006: 5:20 PM EST
NEW YORK (CNNMoney.com) -- Morgan Stanley's John Mack has just taken home $40 million in stock and options - the largest bonus ever given to a Wall Street CEO - and it's expected that the record will be broken in coming days.
And you can't say that Morgan Stanley, one of the nation's biggest brokerage houses, hasn't had an exceptional year - its stock has risen 40 percent so far and analysts surveyed by Thomson expect the firm to report annual earnings of $7.1 billion, up 45 percent from last year's $4.9 billion. (Full story)
$40 Million bonus?
Comeon. This is getting really absurb, don't you think?
A $40 Million bonus equates to a bonus of $109,589.04 per day.
Totally insane!
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