Motley Fool’s Tom Gardner asserts:
Hundreds? Yes, certainly. At least that many.
A year ago, John Thain was given a $15 million signing bonus to take over at Merrill Lynch; in 2008, the company posted losses of $27 billion. Today, Merrill is widely considered a bankrupt subsidiary of Bank of America. Yet this December, Thain lobbied hard to be paid a $10 million bonus. And why not? His predecessor, Stanley O’Neal, received a $160 million retirement package after posting writedowns of $8 billion in a single quarter.
“The law may not change the heart, but it can restrain the heartless.” – Martin Luther King