Here Is What The Top 3 At Wachovia Receive

[Buster]

when deal with Citibank is done.....

http://www.charlotteobserver.com/business/story/226044.html

Ben Jenkins, president of the general bank, with the company since 1971: $17.6 million, including $13.3 million in severance and a $3.7 million bonus.


Steve Cummings, head of corporate and investment banking, with the company since 1998: $20.3 million, including $14.3 million in severance and a $4.25 million bonus.


David Carroll, head of capital management, with the company since 1981: $19.1 million, including $14.1 million in severance and a $4 million bonus.




These payments also include up to $45,000 of financial planning services, $15,000 for “executive physicals” and $10,000 for “career transition and outplacement support services” for each man, according to a March securities filing. The report details several severance scenarios, including the executives choosing to leave for “good reason” following a “change in control.”

 

[punter]

ucking:

 

[cussin'it]

Well, that's Citi's decision (wise, doesn't seem so)

Best part is here:"
In addition to cash and benefits, the three longtime executives also have stock options and restricted stock.
The value of those holdings, as listed in the filing for severance, was calculated using a share price of $38.03, the Dec. 31 closing price.
Wachovia stock, which has been as low as $1.84 this week, closed Wednesday at $3.55."


They run the shit in the ground, but get to sell for 38. Rest of the stockholders hanging on in the wake get what, a buck per share?


hno:

 

[roadreeler57]

Where do I apply for a job like that?

 

[cussin'it]

LOL, the waiting list is twice as long as the one for Master's tickets

 

[Willie99]

Stupid, stupid shit (I'm talking about the golden parachutes)

 

[htech]

not a bad deal considering the Braves have paid Mike Hampton 40+ million the last 4 seasons for 8 total wins. . .

 

[Uno]

alright i agree it is stupid but is it something the gov't should have a say in?

 

[tiznow]

class warfare a coming

get your popcorn ready

 

[MikeB]

I don't know how these guys feed thier families.


Good thing our Senators (who are really in touch with the people) voted to help these companies out.



I can sleep better tonight now.