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#1
11-06-2007, 01:53 AM
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Ex-Citigroup chief \"falls on his sword\" for $40m!
[ QUOTE ]
Facing an evaporation in investor confidence, Charles Prince, the bank's chairman and chief executive, told colleagues he was willing to fall on his sword with a likely severance package of some $40m (£20m) in shares and options. The Guardian [/ QUOTE ] The arrogance of this boggles my mind. I like the way he uses a metaphor which creates an image of a hero sacrificing himself for someone else's benefit. So, if this is him 'falling on his sword' then how would he refer to a payday? 
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#2
11-06-2007, 08:09 AM
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Re: Ex-Citigroup chief \"falls on his sword\" for $40m!
from what i've seen so far, this just looks like he is receiving the compensation already awarded to him in previous years. at his age, he is undoubtedly eligible to retire "vested" under the terms of the Citi stock compensation plan. maybe other stuff will come out, but so far they are giving him zero for leaving.
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#3
11-06-2007, 11:09 AM
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Re: Ex-Citigroup chief \"falls on his sword\" for $40m!
[ QUOTE ]
from what i've seen so far, this just looks like he is receiving the compensation already awarded to him in previous years. at his age, he is undoubtedly eligible to retire "vested" under the terms of the Citi stock compensation plan. maybe other stuff will come out, but so far they are giving him zero for leaving. [/ QUOTE ] Shouldn't he have to pay back the money he lost? I'm glad I hold the JPM shares. How did they get around this mess? Or did they?
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