What massive losses? The example (of yours) that I was talking about was PFE, I'm unaware of any massive losses by PFE and if they did have them, you didn't post about them, you posted about a drop in stock prices, which is a very different thing. I'd call a $137,000,000,000 drop in company value a massive loss. if you think that doesn't matter, then you know nothing about value, whether stocks or otherwise.
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On McKinnell’s watch, the value of the company declined by $137 billion.
However, McKinnell did not suffer for his reign of error at Pfizer. On the contrary; as he walked out the door at the end of 2006, having presided over a loss of 40 percent in the value of the company, McKinnell still had quite a wad of cash to stuff in his pocket: $12 million in severance pay; a bonus of $2.15 million; and a hunk of stocks that had vested, worth $5.8 million. In addition, he also received a $78 million payout for deferred compensation, along with about $18.3 million in “performance-based shares.” And as if that wasn’t enough, McKinnell will be cashing an annual pension check of $6.65 million—for the rest of his life.
Completely corrupt. |
