Kevin, $2500/hr...really?

Anonymous

Guest
What could you possibly be doing to add value to the company that costs it $2500/hr even when you are sleeping?
KS comp for 2010 = 22mil. = more than $2500/hr, every hour of the year (168hrs a week)
 












What could you possibly be doing to add value to the company that costs it $2500/hr even when you are sleeping?
KS comp for 2010 = 22mil. = more than $2500/hr, every hour of the year (168hrs a week)

I certainly can't see that he has added any value to the company. Stock price is basically the same as when he became CEO. Where's the value?
 






What could you possibly be doing to add value to the company that costs it $2500/hr even when you are sleeping?
KS comp for 2010 = 22mil. = more than $2500/hr, every hour of the year (168hrs a week)

It is worse than that. Amgen's market cap was about $70B when he took over. Add $40B in stock buy backs and at least $20B in acquisitions. Now compare that total to today's $55B market cap. That comes to $75B loss in capital.

Since it took 11 years to lose $75B, the company has been bleeding almost $780,000 per hour. Thats every hour of every day for 11 years.
 






This is the dirty little secret of Corporate America but it is coming to a crashing halt. Board members approve these compensation packages for each other because most of them serve on several Boards. That is how you become a Board member, by agreeing to compensation packages for people who select the Board and then they approve yours. Most of these dumb mother fuckers can't find the men's room or make it through an airport without assistance. If you want to know how stupid most of them are, just ask their secretary who would be fired in a New York second if they told their secrets.
Nobody is worth that kind of money unless they own the company. But then, none of us are worth what we are paid either.

People have been asking for changes in corporate governance for years, the question is if and when it will really happen. We won't be fully on the road to recovery until upper management incentives can be properly aligned with long term company performance.
 






It is worse than that. Amgen's market cap was about $70B when he took over. Add $40B in stock buy backs and at least $20B in acquisitions. Now compare that total to today's $55B market cap. That comes to $75B loss in capital.

Since it took 11 years to lose $75B, the company has been bleeding almost $780,000 per hour. Thats every hour of every day for 11 years.

Love it!
He has paid himself on eps growth on lower revenues while buying back shares!
What a farce!
 






"Since it took 11 years to lose $75B, the company has been bleeding almost $780,000 per hour. Thats every hour of every day for 11 years."
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Why are we even discussing a $2,500/hr CEO salary?
 






What could you possibly be doing to add value to the company that costs it $2500/hr even when you are sleeping?
KS comp for 2010 = 22mil. = more than $2500/hr, every hour of the year (168hrs a week)

As he said (today), the board decides how much to pay, and he is paid 'a competitive CEO salary'. It is up to the board if he should stay or go, and how much he should be paid. One can make a case that the company's devaluation was caused by something other than his incompetence. But his pay does not inspire either confidence or loyalty, which is exactly what he wants. Why? Because he wants employees to leave, as soon as possible, so as to reduce costs and make the company look like a better buyout target. Simple.
 






As he said (today), the board decides how much to pay, and he is paid 'a competitive CEO salary'. It is up to the board if he should stay or go, and how much he should be paid. One can make a case that the company's devaluation was caused by something other than his incompetence. But his pay does not inspire either confidence or loyalty, which is exactly what he wants. Why? Because he wants employees to leave, as soon as possible, so as to reduce costs and make the company look like a better buyout target. Simple.

This seems like the only way that the shareholders would hope to recover some of their losses from the past few years. Nobody went for AMG when all the other M&A's were happening, maybe b/c its overvalued? Who would be dumb enough to take us now?
 






This seems like the only way that the shareholders would hope to recover some of their losses from the past few years. Nobody went for AMG when all the other M&A's were happening, maybe b/c its overvalued? Who would be dumb enough to take us now?

"Was that the right decision? Absolutely that was the right decison."

KS, over, and over, and over...