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Pastimes : Discussion Thread

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To: TimF who wrote (2927)	1/22/2009 11:47:06 AM
From: tejek	Read Replies (1) of 3816

Pigs feeding at the trough? I think so. The capitalist system is sick and getting sicker. Seattle biotech rewards execs after stock dropped 99 percent Even in a disastrous year on Wall Street, Cell Therapeutics stood out in 2008. Its stock price dropped 99.25 percent. By Rami Grunbaum Deputy business editor and Seattle Times Business staff Even in a disastrous year on Wall Street, Cell Therapeutics stood out in 2008. Its stock price dropped 99.25 percent. But the cash-strapped Seattle biotech's top five executives had reason to celebrate Dec. 31: That day they were awarded year-end bonuses totaling more than $1 million. Chief Executive James Bianco, who has run the company since founding it in 1992, was awarded a $487,500 bonus to supplement his $650,000 salary and other perks. Cell Therapeutics' eight board members, who include Bianco, chose to pay 75 percent of the bonuses in cash, and will decide March 1 whether "the company is sufficiently liquid to pay the remaining amount." In other words, the board wasn't certain Cell Therapeutics would be able to spare the $250,000 to complete its New Year's gift to top management. read more.......... seattletimes.nwsource.com

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