The company caught the attention of shorts primarily because of valuation. The Street analysts were counting on growth. And that was when the prospectus began to fill in the blanks where the valuation exercise left off.
Crazy Eddie had all the trappings of a personal bank for the Antar family.
Showing posts with label inurement. Show all posts
Showing posts with label inurement. Show all posts
Wednesday, July 2, 2014
Wednesday, April 23, 2014
Talk About the Pot Calling the Kettle Black
From the Financial Times:
Talk about the pot calling the kettle black.
Corporate compensation and inurement is out of whack. I agree.
But it is ironic, to say the least, that a guy who comes out of an industry in which the top 10 managers each earn more than $1b a year - doing nothing but taking levered bets on other peoples money - has the gall to criticize the $100m salary of the guy who managed to build a globally ubiquitious business increasing its shareholder wealth from $36b to $367b company in less than ten years.
I say pox on both their homes.
Addendum:
Institutional Investors Top 25 Earning Hedge Fund Managers in 2013.
Activist investor Jeff Ubben urges ‘fix’ for Silicon Valley
Talk about the pot calling the kettle black.
Corporate compensation and inurement is out of whack. I agree.
But it is ironic, to say the least, that a guy who comes out of an industry in which the top 10 managers each earn more than $1b a year - doing nothing but taking levered bets on other peoples money - has the gall to criticize the $100m salary of the guy who managed to build a globally ubiquitious business increasing its shareholder wealth from $36b to $367b company in less than ten years.
I say pox on both their homes.
Addendum:
Institutional Investors Top 25 Earning Hedge Fund Managers in 2013.
Thursday, June 18, 2009
Where Is The Corruption In The System?
Perhaps the most perverse manifestation of the corruption in the system shows through in the area of executive compensation.
Whether it is absolute levels of remuneration/inurement or relative levels (vis-a-vis avg. compensation within a business), executive pay is out of whack with any sense of reasonableness. This is, of course, a broad brush to be painting with, and there are obviously many exceptions, but on the whole executive compensation is bananas.
Who's fault is it? Is it the government for not regulating such activities? Is it society/culture for tolerating such inequity? Is it greed and entitlement among the executive class? Is it the consultants who facilitate the game? Is it a principal-agent relationship gone AWOL? Is it boards stacked with management cronies? Is it institutional shareholders who have abdicated their stewardship responsibilities? Is it regular mom and pop shareholders who are too apathetic and complacent (or powerless)?
I dunno. I think everybody and everything contributes to the problem. But boy, does this description not also look and sound like the problems that led us into the financial crisis.
The failure of monetary authorities, perverse incentive structures imbedded in the system, facilitation by ratings agencies and regulators, greed of the investment banks and bankers, "all care and no responsibility" among mortgage brokers and securitizers, failure of moral courage among borrowers.
All of which begs the question, where is the outrage? or better yet, where is the shame?
Whether it is absolute levels of remuneration/inurement or relative levels (vis-a-vis avg. compensation within a business), executive pay is out of whack with any sense of reasonableness. This is, of course, a broad brush to be painting with, and there are obviously many exceptions, but on the whole executive compensation is bananas.
Who's fault is it? Is it the government for not regulating such activities? Is it society/culture for tolerating such inequity? Is it greed and entitlement among the executive class? Is it the consultants who facilitate the game? Is it a principal-agent relationship gone AWOL? Is it boards stacked with management cronies? Is it institutional shareholders who have abdicated their stewardship responsibilities? Is it regular mom and pop shareholders who are too apathetic and complacent (or powerless)?
I dunno. I think everybody and everything contributes to the problem. But boy, does this description not also look and sound like the problems that led us into the financial crisis.
The failure of monetary authorities, perverse incentive structures imbedded in the system, facilitation by ratings agencies and regulators, greed of the investment banks and bankers, "all care and no responsibility" among mortgage brokers and securitizers, failure of moral courage among borrowers.
All of which begs the question, where is the outrage? or better yet, where is the shame?
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