New York’s top 100 executives made $1.2 billion last year
Posted by drocolate on June 24th, 2009
NEW YORK LOVES WASTING MONEY!
Seriously. Two stories in one day. This is outstanding.
I’m going to keep this one breif because I’m lazy and I’m tired of writing about New Yorkers blowing massive amounts of money.
The summary is this:
Last year, despite the total economic collapse of the United States of America, the top 100 executives in New York City received $1.2 billion. Yes that’s a “b”. This isn’t all bad though.
Let me break it down.
THE GOOD NEWS!
Overall top 100 executive pay is down almost 35% from 2007. Yay! Responsibility!
THE BAD NEWS!
Even though pay was down 35% we’re still talking about $1.2 BILLION!
And a good portion of the top ten money-makers was dominated by the managers of companies who took federal bailout money. There was Citigroup CEO Vikram Pandit, who took home a paltry $38.2 million, and JPMorgan Chase big shit Jamie Dimon, who somehow managed to find a ride home after only making $35.7 milly. I really love Mr. Dimon. And by “love” I mean “think is a total and complete d-bag who has absolutely no concept of reality”.
Oh, and to make matters even more awesome, the report also divulged some info about bonuses. Yep, that dreaded B-word again. My favorite from the findings there was a $305,000 cash bonus given to Raymond McDaniel, the CEO of credit rating’s agency Moody’s. Despite the fact that Moody’s completely fucking blew it and gave awesome credit ratings to companies that eventually imploded, Mr. McDaniel still got his bonus for what the company called “response to challenges”. Note that it doesn’t say “good response” or “prompt response”. It just says “response”, so his response really could have been anything. And I guess the response he decided to go with was to sit there and watch Rome burn.
Nice job, Ray! Have another bonus!
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New York City and I are done for today. I’ve had enough.
Tags: bailout, citigroup, idiots, Jamie Dimon, JPMorgan Chase, new york city, Vikram Pandit, waste of money