<<....If Wachovia's general bank President Ben Jenkins leaves the company after Wells acquires it, he could potentially receive a $13.3 million severance and $3.7 million pro rated bonus, according to the Charlotte, N.C., financial company's 2008 proxy.
Steve Cummings, head of corporate and investment banking, may get a total of $18.6 million and David Carroll, head of the capital management group, could see $18.1 million.
Under the weight of mounting loan losses and other financial problems, Wachovia reported a net loss of $8.9 billion in the second quarter. Its slumping share price erased more than $100 billion in stock market wealth during the last year.
"I don't know that the captain of the Titanic got a bonus for driving the boat into an iceberg," Glassner said. "They at least had the decency to go down with the ship."....>>
full story:
http://www.sfgate.com/cgi-bin/article.c ... 006&sc=363
Steve Cummings, head of corporate and investment banking, may get a total of $18.6 million and David Carroll, head of the capital management group, could see $18.1 million.
Under the weight of mounting loan losses and other financial problems, Wachovia reported a net loss of $8.9 billion in the second quarter. Its slumping share price erased more than $100 billion in stock market wealth during the last year.
"I don't know that the captain of the Titanic got a bonus for driving the boat into an iceberg," Glassner said. "They at least had the decency to go down with the ship."....>>
full story:
http://www.sfgate.com/cgi-bin/article.c ... 006&sc=363
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