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Alan H. Fishman Wamu's CEO after 3 weeks walk away with $11.6 million

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Alan H. Fishman Wamu's CEO after 3 weeks walk away with $11.6 million

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After just weeks on the job, Fishman could exit WaMu with $11.6 million

But thrift’s CEO may choose to forfeit all or part of his severance package

Don't let this happen write email your state officials now. Why do the CEO's get to walk out with millions after we get screwed?

September 26, 2008

Puck

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While we don't like it, how can the government regulate someone's salary? Can the government step in if the boss pays you $100,000 plus stock options while your co-worker only makes $8 an hour?

If they can get a good deal on salary, they would be stupid not to take it. These people are not working at not-for-profits. Personally, I don't like it, but if they didn't do anything illegal, then the money is theirs. Unfortunately, most of these salary packages do not require that these highly paid people actually meet a certain level of performance.

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Fishman was hired on Sept. 8 and given a $7.5 million bonus. He will receive a severance package worth $11.6 million. For less than 3 weeks of work Fishman made over $18 million. No wonder Wall Street is in trouble.

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I agree with swirl about the feds not butting in on your salary and stocks...if it is not illegal then you can't really do anything about it. But I can't believe what these big corporations pay their ceo's, I work for a big national commercial truck rental and logistics corporation and it is sickening how much this guy makes, vs how much he actually does for the corporation.

In my opinion they are dead weight and do nothing but steal oxygen, you would think when a corporation is hurting they would take a pay cut to help out, heck no..they will eliminate all of the small guys then they will walk off with millions. But they expect you to bend over backwards for the corporation and sacrafice or else. In my opinion I don't think Ceo's salaries are good for a corp. it run's the bussiness in to the ground.:)

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This is why Wamu was not part of the bailout...if it were, than this d-bag may not have gotten his sweet severance.

Sad thing is, he will simply go to another firm/bank where they are looking to sell themselves.

Man....that MBA must really pay off in the long run....because really, what do CEOs do all day? Really?

Why is this a board announcement, anyway? LOL

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In my opinion they are dead weight and do nothing but steal oxygen,

The CEO has to be paid well enough be willing to crap all over his co-workers and all over the people who depend on him for their daily living if that's what it takes to produce a good ROI for the shareholders.

How much money would it take for you to sleep well at night after ordering the layoff of a few thousand people the week before Christmas, just so you could make the year-end numbers look a little better?

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The CEO has to be paid well enough be willing to crap all over his co-workers and all over the people who depend on him for their daily living if that's what it takes to produce a good ROI for the shareholders.

How much money would it take for you to sleep well at night after ordering the layoff of a few thousand people the week before Christmas, just so you could make the year-end numbers look a little better?

I wouldn't take a job like that...First of all I don't have all the college that they look for and I have way to much common sense so I would never make a good CEO or corporate leader. I understand that they have to make the stockholders happy, but how can a stockholder be happy knowing they are paying a douche 10,000,000+ a year plus stocks for absolutly doing nothing but ride a desk?:)

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I wouldn't take a job like that...First of all I don't have all the college that they look for and I have way to much common sense so I would never make a good CEO or corporate leader. I understand that they have to make the stockholders happy, but how can a stockholder be happy knowing they are paying a douche 10,000,000+ a year plus stocks for absolutly doing nothing but ride a desk?:)

Not just ride a desk?

1) golf outings

2) country club outings

3) contributions and parties to his buddies at Washington so that he can have his influence

4) board meetings and make sure that shareholders are lied to

5) conference calls to analysts and every now and then dip into the expense account to pay that analyst off (yeah yeah, that's illegal, blah blah blah)

CEOs have tons of responsibilities....he probably spends at best 2-3 hours a week at the office (if that, my friend, if that).

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